Common use of Termination of S Status Clause in Contracts

Termination of S Status. The Company made a valid election under Section 1362(a) of the Code to be taxed in accordance with the provisions of Subchapter S of the Code, for its tax year beginning April 11, 1997 (the "S Election"). The Shareholders acknowledge that the Closing will terminate the Company's S Election pursuant to Section 1362(d)(2) of the Code.

Termination of S Status. The Company Each of the Companies made a valid election under Section 1362(a) of the Code to be taxed in accordance with the provisions of Subchapter S of the Code, Code for its tax year beginning April 11, 1997 and ending on the dates set forth with respect to such Company on Schedule 2.8 hereof (the "S Election"). The Each of the Shareholders acknowledge acknowledges that the Closing purchase and sale of the Company Shares with respect to the Companies in which they are Shareholders as described in this Agreement will terminate the each such Company's S Election pursuant to Section 1362(d)(2) of the Code.

Termination of S Status. The Company made a valid election under Section 1362(a) of the Code to be taxed in accordance with the provisions of Subchapter S of the Code, Code for its initial tax year beginning April 11May 24, 1997 1989 and ending December 31, 1989 (the "S Election"). The Shareholders acknowledge that the Closing Merger will terminate the Company's S Election pursuant to Section 1362(d)(2) of the Code.

Termination of S Status. The Company made a valid election under Section 1362(a) of the Code to be taxed in accordance with the provisions of Subchapter S of the Code, Code for its initial tax year beginning April 11February 1, 1997 1989 and ending December 31, 1989 (the "S Election"). The Shareholders acknowledge that the Closing Merger will terminate the Company's S Election pursuant to Section 1362(d)(2) of the Code.