Common use of Section 197 Election Clause in Contracts

Section 197 Election. Upon the request of the Company and to the extent applicable, St. Xxxx agrees to elect under Section 197(f)(9)(B)(ii) of the Code to (i) recognize gain on the disposition of goodwill, going concern value and any other Section 197 intangible (as defined in Section 197(d) of the Code), if any, for which depreciation and amortization would not have been allowable but for Section 197, if such asset was held or used by St Xxxx or any of its Subsidiaries at any time on or after July 25, 1991 and on or before August 10, 1993, and (ii) pay tax on such gain in accordance with Section 197(f)(9)(B)(ii)(II) of the Code to the extent that such election is necessary to enable the Company or any of its affiliates to claim amortization deductions with respect to such asset under Section 197 of the Code; PROVIDED, HOWEVER, that St. Xxxx shall not be required to make such election and/or comply with clause (ii) of the previous sentence if it determines in its sole discretion that the election, or the requirements of clause (ii), would cause a detriment to St. Xxxx or any of its Subsidiaries.

Section 197 Election. Upon the request of the Company and to the extent applicable, St. Xxxx agrees to elect under Section 197(f)(9)(B)(ii) of the Code to (i) recognize gain on the disposition of goodwill, going concern value and any other Section 197 intangible (as defined in Section 197(d) of the Code), if any, for which depreciation and amortization would not have been allowable but for Section 197, if such asset was held or used by St Xxxx or any of its Subsidiaries at any time on or after July 25, 1991 and on or before August 10, 1993, and (ii) pay tax on such gain in accordance with Section 197(f)(9)(B)(ii)(II) of the Code to the extent that such election is necessary to enable the Company or any of its affiliates to claim amortization deductions with respect to such asset under Section 197 of the Code; PROVIDED, HOWEVER, that St. Xxxx shall not be required to make such election and/or comply with clause (ii) of the previous sentence above if it determines in its sole discretion that the election, or the requirements of clause (ii), would cause a detriment to St. Xxxx or any of its Subsidiaries.

Section 197 Election. Upon the request of the Company and to the extent applicable, St. Xxxx agrees to elect under Section 197(f)(9)(B)(ii) of the Code to (i) recognize gain on the disposition of goodwill, going concern value and any other Section 197 intangible (as defined in Section 197(d) of the Code), if any, for which depreciation and amortization would not have been allowable but for Section 197, if such asset was held or used by St Xxxx or any of its Subsidiaries at any time on or after July 25, 1991 and on or before August 10, 1993, and (ii) pay tax on such gain in accordance with Section 197(f)(9)(B)(ii)(II) of the Code to the extent that such election is necessary to enable the Company or any of its affiliates to claim amortization deductions with respect to such asset under Section 197 of the Code; PROVIDEDprovided, HOWEVERhowever, that St. Xxxx shall not be required to make such election and/or comply with clause (ii) of the previous sentence above if it determines in its sole discretion that the election, or the requirements of clause (ii), would cause a detriment to St. Xxxx or any of its Subsidiaries.

Section 197 Election. Upon the request of the Company and to the extent applicableCompany, St. Xxxx agrees to elect under Section 197(f)(9)(B)(ii) of the Code to (i) recognize gain on the disposition of goodwill, going concern value and any other Section 197 intangible (as defined in Section 197(d) of the Code), if any, for which depreciation and amortization would not have been allowable but for Section 197, if such asset was held or used by St Xxxx or any of its Subsidiaries at any time on or after July 25, 1991 and on or before August 10, 1993, and (ii) pay tax on such gain in accordance with Section 197(f)(9)(B)(ii)(II) of the Code to the extent that such election is necessary to enable the Company or any of its affiliates to claim amortization deductions with respect to such asset under Section 197 of the Code; [PROVIDED, HOWEVER, that St. Xxxx shall not be required to make such election and/or comply with clause (ii) of the previous sentence if it determines in its sole discretion that the election, or the requirements of clause (ii), would cause a detriment to St. Xxxx or any of its Subsidiaries].