CenturyLink, Inc. and Computershare Trust Company, N.A. Section 382 Rights Agreement Dated as of February 13, 2019Centurylink, Inc • February 14th, 2019 • Telephone communications (no radiotelephone) • New York
The Company has generated net operating loss carryovers and tax credit carryovers for United States federal income tax purposes (“NOLs”), which are expected to provide valuable tax benefits to the Company. The ability to use the NOLs may be impaired or destroyed by an “ownership change” within the meaning of Section 382 (as such term is hereinafter defined). The Company desires to avoid such an “ownership change” and thereby preserve the ability to use the NOLs without limitation.
