Common use of Profit and loss transfer agreements Clause in Contracts

Profit and loss transfer agreements. No Obligor shall (and each Obligor shall ensure that none of its Subsidiaries will) enter into a profit and loss transfer agreement (Ergebnis abführungsvertrag), any partnership agreements (stille Beteiligungen), any other intercompany agreement (Unternehmensvertrag) or any other similar arrangement resulting in any person not being a member of the Group being entitled to share in the profits of any member of the Group or being entitled to exercise control over any member of the Group provided that the German Borrower shall be permitted to enter into a profit and loss transfer agreement with the Parent for the purpose of sharing Taxes.

Profit and loss transfer agreements. No Obligor shall (and each Obligor shall ensure that none of its Subsidiaries will) enter into a profit and loss transfer agreement (Ergebnis abführungsvertrag), any partnership agreements (stille Beteiligungen), any other intercompany agreement (Unternehmensvertrag) or any other similar arrangement resulting in any person not being a member of the Group being entitled to share in the profits of any member of the Group or being entitled to exercise control over any member of the Group provided that the German Borrower shall be permitted to enter into operate a profit and loss transfer agreement with the Parent for the purpose of sharing TaxesTaxes (the "Permitted Profit and Loss Transfer Agreement") in accordance with the terms of the Subordination Agreement.