Common use of Tax-Free Qualification Clause in Contracts

Tax-Free Qualification. The Company shall not, and shall not permit any of its Subsidiaries to, take any action (including any action otherwise permitted by this Section 5.1) that it knows would prevent the Merger from qualifying as a "reorganization" within the meaning of Section 368(a) of the Code.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Lightspan Inc), Agreement and Plan of Merger (Plato Learning Inc)

AutoNDA by SimpleDocs

Tax-Free Qualification. The Company shall not, and shall not permit any of its Subsidiaries to, intentionally take or cause to be taken any action (including any action otherwise permitted by this Section 5.1) that it knows action, whether before or after the Effective Time, which would reasonably be expected to prevent or impede the Merger from qualifying as a "reorganization" reorganization within the meaning of Section 368(a) of the Code.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (New Motion, Inc.), Agreement and Plan of Merger (Traffix Inc)

Tax-Free Qualification. The Company shall not, and shall not permit any of its Subsidiaries to, take any action (including any action otherwise permitted by this Section 5.1) that it knows would prevent or impede the Merger from qualifying as a "reorganization" within the meaning of reorganization under Section 368(a) 368 of the Code.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Sports Authority Inc /De/)

Tax-Free Qualification. The Company shall notuse its reasonable commercial efforts not to, and shall use its reasonable commercial efforts not to permit any of its Subsidiaries to, take any action (including any action otherwise permitted by this Section 5.16.1) that it knows would prevent or impede the Merger from qualifying as a "reorganization" within the meaning of Section 368(a) of the Code.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Datum Inc)

AutoNDA by SimpleDocs

Tax-Free Qualification. The Company shall notuse its reasonable best efforts not to, and shall use its reasonable best efforts not to permit any of its Subsidiaries to, take any action (including any action otherwise permitted by this Section 5.1) that it knows would be reasonably expected to prevent or impede the Merger from qualifying as a "reorganization" within the meaning of Section 368(a) of the Code.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Decode Genetics Inc)

Tax-Free Qualification. The Company shall notuse its reasonable commercial efforts not to, and shall use its reasonable commercial efforts not to permit any of its Subsidiaries to, take any action (including any action otherwise permitted by this Section 5.16.1) that it knows would prevent or impede the Merger from qualifying as a "β€œreorganization" ” within the meaning of Section 368(a) of the Code.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Symmetricom Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!