Common use of S Corporation Status Clause in Contracts

S Corporation Status. Targets and Sellers will not revoke the Target Corporations' election to be taxed as S corporations within the meaning of Code Sections 1361 and 1362. The Target Corporations and Sellers will not take or allow any action other than the sale of the Target Corporations' stock pursuant to this Agreement that would result in the termination of Target Corporations' status as a validly electing S corporations within the meaning of Code Sections 1361 and 1362.

S Corporation Status. Targets Target and Sellers will shall not revoke the Target Corporations' Target’s election to be taxed as an S corporations corporation within the meaning of Code Sections Section 1361 and Section 1362. The Target Corporations and Sellers will shall not take or allow any action action, other than the sale of the Target Corporations' Target’s stock pursuant to this Agreement Agreement, that would result in the termination of Target Corporations' Target’s status as a validly electing S corporations corporation within the meaning of Code Sections Section 1361 and Section 1362.

S Corporation Status. Targets Target and Sellers will Seller shall not revoke the Target Corporations' Target’s election to be taxed as an S corporations corporation within the meaning of Code Sections Section 1361 and Section 1362. The Target Corporations and Sellers will Seller shall not take or allow any action action, other than the sale of the Target Corporations' Target’s stock pursuant to this Agreement that Agreement, which would result in the termination of Target Corporations' Target’s status as a validly electing S corporations corporation within the meaning of Code Sections Section 1361 and Section 1362.

S Corporation Status. Targets Target and Sellers will shall not revoke the Target Corporations' Target’s election to be taxed as an S corporations corporation within the meaning of Code Sections Section 1361 and Section 1362. The Target Corporations and Sellers will shall not take or allow any action action, other than the sale of the Target Corporations' Target’s stock pursuant to this Agreement that Agreement, which would result in the termination of Target Corporations' Target’s status as a validly electing S corporations corporation within the meaning of Code Sections Section 1361 and Section 1362.