Common use of Permitted Disposals Clause in Contracts

Permitted Disposals. (a) amend limb (xii)(B) of the definition of Permitted Disposal to remove the requirement that the surrendering company receives fair market value for tax losses disposed to any member of the Wider Group; (b) amend limb (xxi) of the definition of Permitted Disposal to remove the proviso that replacement assets be secured; and (c) amend the definition of “Permitted Disposal” to include any disposal made in connection with any start-up financing or seed funding provided that any such disposals shall not exceed an aggregate value equal to the greater of (i) €25,000,000 and (ii) 1.00% of Total Assets.