Termination of S Corporation Status. On or before the closing of the transaction contemplated hereby, the Maker will terminate its S corporation status. Following the closing of this transaction we will not make a distribution to our existing stockholders of their aggregate federal and state income tax liabilities attributable to our S corporation pass-through income.
Appears in 4 contracts
Samples: Siricomm Inc, Siricomm Inc, Siricomm Inc