Treatment of Note. To the extent permitted by GAAP, the Company will treat, account and report the Note as debt and not equity for accounting purposes and with respect to any returns filed with federal, state or local tax authorities.
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Samples: Promissory Note Modification Agreement (BioNeutral Group, Inc), Securities Purchase Agreement (Distributed Energy Systems Corp)
Treatment of Note. To the extent permitted by GAAP, the Company will treat, account and report the Note as debt and not equity for accounting purposes and with respect to any returns filed with federal, state or local tax authorities. The Holder hereby acknowledges the foregoing, and agrees not to take any position contrary to such treatment with respect to any tax returns filed by the Holder unless otherwise required by law.
Appears in 1 contract
Samples: Unit Subscription Agreement (Quantum Materials Corp.)
Treatment of Note. To the extent permitted by GAAPGAAP and applicable federal income tax law, the Company and the Holder will treat, account and report the this Note as debt and not equity for accounting and tax purposes and with respect to any returns filed with federal, state or local tax authorities.
Appears in 1 contract
