Spin-Off prOCeSS Sample Clauses

Spin-Off prOCeSS. The Spin-off will be based on the Spin-off Agreement to be entered into by the parties. An audit by an expert auditor in accordance with sections 9 to 12 of the UmwG will not be carried out, as this is not required in accordance with section 125 sentence 2 of the UmwG. The Spin-off of the Spin-off Assets and Liabilities of BAG to BRE by means of a Spin-off by way of acquisition under section 123(3) no. 1 of the UmwG shall be effected against the grant of a new share in the amount of €1,000. For this purpose, BRE’s Stockholders’ Meet- ing shall adopt a resolution to increase the capital stock by €1,000, from €1,534,000 to €1,535,000, by issuing a new share with a nominal value of €1,000. The share will be acquired by BAG. BAG will remain the sole shareholder of BRE after the Spin-off has taken effect. The capital increase will be implemented against a non-cash con- tribution. The contribution made by BAG shall consist of the Spin-off Assets and Liabilities.
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Related to Spin-Off prOCeSS

  • Layoff Process Layoff of bargaining unit members is an undesired outcome of an extremely harsh and unforgiving economic reality. Prior to the declaration of retrenchment or a financial exigency, the following process will be employed:

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  • Registration Process In connection with the registration of the Registrable Securities pursuant to Section 4.1, the Company shall:

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