NOLs. As of the date hereof, Pacific and its subsidiaries had net operating loss carryovers available to offset future income as set forth in Section 3.09(r) of the Pacific Disclosure Schedule. Section 3.09(r) of the Pacific Disclosure Schedule sets forth the amount of and year of expiration of each company's net operating loss carryovers.
NOLs. As of the date hereof, Enova and its subsidiaries had net operating loss carryovers available to offset future income as set forth in Section 4.09(r) of the Enova Disclosure Schedule. Section 4.09(r) of the Enova Disclosure Schedule sets forth the amount of and year of expiration of each company's net operating loss carryovers.
NOLs. For so long as the Company holds any material NOLs, the Stockholder shall not cause the Company to issue any shares of Common Stock or other equity securities of the Company or otherwise engage in any material transaction unless the Stockholder reasonably believes that such issuance or transaction would not jeopardize the Company’s ability to retain the benefit of the NOLs.
NOLs. None of the net operating loss carryforwards or tax credits of the Seller or its subsidiary ("NOLs") are subject to any current limitation resulting from an ownership change under Section 382 or 383 of the Internal Revenue Code of 1986 and neither the entering into of this Agreement nor the consummation of the Transaction will result in the occurrence of an ownership change upon the date hereof or the Closing Date.
NOLs. As of the date hereof, the Company and its Subsidiaries had net operating loss carryovers available to offset future income as set forth in Section 2.9(r) of the Company Disclosure Schedule. Section 2.9(r) of the Company Disclosure Schedule sets forth the amount of and year of expiration of each company's net operating loss carryovers.
NOLs. As of the date hereof, Parent and its Subsidiaries have no net operating loss carryovers available to offset future income.
NOLs. As of December 31, 1997, the Company and its Subsidiaries had net operating loss carryovers available to offset future income as disclosed in Section 3.9.19 of the Disclosure Schedule. A-14
NOLs. Without prejudice to Article IV, the Parties agree that with respect to the tax sharing agreement a copy of which is set forth in Schedule 4.7(i), for so long as the French Companies are part of the Purchaser's Group, the Purchaser shall cause the French Companies after the Closing not to claim reimbursement of AIMDF's NOLs used by the Seller prior to December 31, 1999.
NOLs. As of December 31, 2007, the consolidated net operating loss of Matrix was not less than $45,300,000.
NOLs. The RGH Tax Group has substantial net operating losses for federal income tax purposes and may generate additional such losses prior to its termination. The RFSC Tax Group will inherit substantial portions of such losses from the RGH Tax Group and may generate additional net operating losses in the future (together, all such RGH Tax Group losses inherited by the RFSC Tax Group and all subsequent losses generated by the RFSC Tax Group, the "NOLs"). The Liquidator has informed the Committees that the NOLs attributable to the operations of Reliance are estimated to exceed $2 billion through the end of 2001. RGH, RFSC and Reliance (to cover the period during which the RGH Tax Group remains in existence and Reliance remains a member) and RFSC and Reliance (to cover the period beginning when the RFSC Tax Group is created) will enter into certain Tax Sharing Agreements to govern the sharing of the respective group's consolidated tax liability and various other tax matters. The Tax Sharing Agreements will provide, and the parties to this Agreement also agree, that: (i) NOLs attributable to the operations of Reliance of not less than $1.25 billion will be made available for RGH and RFSC (the "Base NOLs"); (ii) NOLs attributable to the operations of Reliance, whether now existing or hereafter created, in excess of the Base NOLs, shall remain available for the use of Reliance in offsetting income generated in connection with the liquidation of Reliance, including its ongoing insurance operations (the "Reliance NOLs"); (iii) in the event that Reliance, in its reasonable sole discretion, determines that it no longer requires all or a portion of the Reliance NOLs, Reliance shall make such excess NOLs (the "Excess NOLs") available to RGH or RFSC; (iv) if and to the extent that RGH creditors or RFSC creditors, through the utilization of Base NOLs and/or Excess NOLs (after reduction of such NOLs by any cancellation of indebtedness income realized in connection with the implementation of the Plan(s) of Reorganization), receive any distribution other than the ss. 847 Refunds, or any distribution is received for their benefit by, inter alia, a Liquidating Trustee, the Liquidator shall receive an amount equal to such distribution (it being agreed and understood that, other than for the payments provided under this subsection (iv), RGH and RFSC shall not be required to make any payments to Reliance under the Tax Sharing Agreements, nor shall the amount of income taxes otherwise...
