Common use of Limitations on Transactions that Produce Gain Clause in Contracts

Limitations on Transactions that Produce Gain. (i) The Company shall not undertake any transaction (including, without limitation, a dividend, merger, reorganization, distribution of securities, or otherwise) (A) that shall result in the recognition of more than $25 million of taxable income or gain by CarrAmerica during the taxable year ending December 31, 2000 (in addition to any gain that will be recognized by CarrAmerica by reason of the consummation of the transactions contemplated by the Merger Agreement (the "Merger Agreement") dated as of January 20, 2000, by and among the Company, CarrAmerica, RSI and Vantas Incorporated, a Nevada corporation, and all ancillary agreements related thereto), or (B) that shall result in the recognition of more than $75 million of taxable income or gain for CarrAmerica during the taxable year ending December 31, 2001.

Appears in 3 contracts

Samples: Stockholders Agreement (Carramerica Realty Corp), Stockholders Agreement (Vantas Inc), Stockholders Agreement (Reckson Services Industries Inc)

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Limitations on Transactions that Produce Gain. (i) The Company shall not undertake any transaction (including, without limitation, a dividend, merger, reorganization, distribution of securities, or otherwise) (A) that shall result in the recognition of more than $25 million of taxable income or gain by CarrAmerica during the taxable year ending December 31, 2000 (in addition to any gain that will be recognized by CarrAmerica by reason of the consummation of the transactions contemplated by the Merger Agreement (the "Merger Agreement") dated as of January 20, 2000, as amended, by and among the CompanyHQ Global, CarrAmerica, RSI and Vantas Incorporated, a Nevada corporation, and all ancillary agreements related thereto), or (B) that shall result in the recognition of more than $75 million of taxable income or gain for CarrAmerica during the taxable year ending December 31, 2001.

Appears in 2 contracts

Samples: Stockholders Agreement (Frontline Capital Group), Stockholders Agreement (Carramerica Realty Corp)

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Limitations on Transactions that Produce Gain. (i) The Company shall not undertake any transaction (including, without limitation, a dividend, merger, reorganization, distribution of securities, or otherwise) (A) that shall result in the recognition of more than $25 million of taxable income or gain by CarrAmerica during the taxable year ending December 31, 2000 (in addition to any gain that will be recognized by CarrAmerica by reason of the consummation of the transactions contemplated by the Merger Agreement (the "β€œMerger Agreement"”) dated as of January 20, 2000, as amended, by and among the CompanyHQ Global, CarrAmerica, RSI and Vantas Incorporated, a Nevada corporation, and all ancillary agreements related thereto), or (B) that shall result in the recognition of more than $75 million of taxable income or gain for CarrAmerica during the taxable year ending December 31, 2001.

Appears in 1 contract

Samples: Stockholders Agreement (Carramerica Realty Corp)

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