S Election. The Company and Shareholders shall not revoke the Company’s election to be taxed as an S corporation within the meaning of Code Sections 1361 and 1362. The Company and Shareholders shall not take or allow any action, other than the transactions contemplated by this Agreement, that would result in the termination of the Company as a validly electing S corporation within the meaning of Code Sections 1361 and 1362.
Appears in 3 contracts
Samples: Merger Agreement (Marchex Inc), Merger Agreement (Marchex Inc), Merger Agreement (Marchex Inc)
S Election. The Company and Shareholders the Sellers shall not revoke the Company’s election to be taxed treated as an S corporation within the meaning of Code Sections 1361 and 1362. The Company 1362 of the Code (and Shareholders any corresponding state or local tax provision), and shall not take or allow any action, other than the transactions contemplated by this Agreement, action that would could result in the termination of the Company Company’s status as a validly electing S corporation within the meaning of Code Sections 1361 and 1362corporation.
Appears in 2 contracts
Samples: Stock Purchase Agreement, Stock Purchase Agreement (Esterline Technologies Corp)
