Benefited Enterprise definition

Benefited Enterprise or “Preferred enterprise”, and has never filed any application with any Governmental Entity to qualify for such status.
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Benefited Enterprise or “Preferred Enterprise,” as each such term is defined in the Israeli Law for Encouragement of Capital Investments (5719-1959). The Company has provided to Parent true and correct copies of all applications for Government Grants and of all letters of approval and rulings issued as well as supplements thereto related to the Government Grants and such applications and other documents. Part 2.15(l) of the Disclosure Schedule details all currently outstanding financial liabilities of the Company and the Company Subsidiaries under each of the Government Grants. The Company and the Company Subsidiaries are in compliance with all of the terms, conditions and requirements of their respective Government Grants and have duly fulfilled in all material respects all the undertakings relating thereto. If applicable, the Company has not modified the treatment of any Government Grants, revoked any election relating thereto, or undertaken any action disqualifying the Company or any of the Company Subsidiaries from treating such investments as Approved Enterprise or Preferred Enterprise. To the Company’s Knowledge, the Company and each Company Subsidiary is in compliance in all material respects with the terms of each Government Grant. Neither the execution, delivery or performance of this Agreement, nor the consummation of the Merger or any of the other transactions contemplated hereby, does, will or would reasonably be expected to (with or without notice or lapse of time or both) give rise to any right to revoke, withdraw, suspend, cancel, terminate or modify any Government Grant identified or required to be identified in Part 2.15(l) of the Disclosure Schedule and the consummation of the Merger will not adversely affect the continued qualification for the incentives or the terms or duration thereof or require any recapture of any previously claimed Israeli Tax incentive, and except for the letter from the IIA accepting the IIA Share Transfer Notice, no consent or approval of any Governmental Body is required prior to the consummation of the Merger in order to preserve the entitlement of the Surviving Company or its Subsidiaries to any such Israeli Tax incentive. The Company is not aware of any event or other set of circumstances which is reasonably expected to lead to or be the basis for (i) the revocation, annulment, withdrawal, suspension, cancellation, recapture or material modification of any of the Government Grants, (ii) the imposition of any material limitation o...
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Benefited Enterprise status granted with respect to any of the Company’s facilities, in each case except for any failure to comply, inaccuracy or notice (as appropriate) that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
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Examples of Benefited Enterprise in a sentence

  • The approval of the Investment Center with regard to the continuousness of the Tax benefits to which the Company is eligible with respect to its Approved Enterprise Status or Benefited Enterprise Status having been obtained.

  • The Company is in compliance, in all material respects, with any applicable Law and any Tax ruling and has duly fulfilled, in all material respects, all conditions, undertakings and other obligations relating to its status as a Benefited Enterprise.

  • No event has occurred that would reasonably be expected to give rise to (i) the annulment, revocation, withdrawal, suspension, cancellation, recapture or modification of any such Benefited Enterprise status, or (ii) a requirement that the Company return or refund any benefits provided under any Government Grant.

  • The Company has not revoked any election relating to its status as a Benefited Enterprise, or undertaken any action disqualifying it from qualifying as Benefited Enterprise.

  • The Company has not received any cash Governmental Grants with respect to its classification as a Preferred Enterprise, Benefited Enterprise or an Approved Enterprise.

  • Without derogating from the foregoing, since January 1, 2006 the Company has been in compliance in all respects with all of the conditions that are specified in Section 3.3 of the Benefited Enterprise Ruling.

  • The Company has not (i) received any cash Governmental Grants with respect to its Benefited Enterprise or Approved Enterprise status or (ii) taken or failed to take any action that would reasonably be expected to invalidate the Encouragement Law Incentives.

  • In addition, all of the representations provided to the ITA as part of the Benefited Enterprise Ruling are accurate in all respects.

  • The Company has not modified the treatment of any Government Grants, revoked any election relating thereto, or undertaken any action disqualifying the Company from treating such investments as Approved Enterprise or Benefited Enterprise.

  • As promptly as practicable after the Closing, but in no event later than sixty (60) days after the Closing, Seller shall file with the Israeli Tax Authority, a report regarding the consummation of the transactions contemplated by this Agreement in accordance with the Benefited Enterprise Tax Ruling.


More Definitions of Benefited Enterprise

Benefited Enterprise. Section 3.16(k) “Blue Sky Laws” Section 3.5(b) “Book-Entry ADSs” Section 2.1(a)(ii) “Book-Entry Shares” Section 2.1(a) “Business Day” Section 5.4(a) “Capitalization Date” Section 3.3(b) “Certificate” Section 2.1(a) “Certificate of Merger” Section 1.3 “Charter Documents” Section 4.2 “Closing” Section 1.2 “Closing Date” Section 1.2 “COBRA” Section 3.11(e) “Code” Section 9.5 “Companies Registrar” Section 1.3 “Company” Preamble “Company 401(k) Plans” Section 6.8 “Company Board” Recitals “Company Board Recommendation” Recitals “Company Change of Recommendation” Section 5.2(a) “Company Charter Documents” Section 3.2 “Company Disclosure Letter” Article III “Company Equity Awards” Section 9.5 “Company Equity Plans” Section 9.5 “Company Financial Advisor” Section 3.25 “Company Immaterial Trademark Licenses” Section 9.5 “Company Intervening Event” Section 9.5 “Company Material Adverse Effect” Section 7.2(a) “Company Material Contracts” Section 3.18(a) Term Section
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Benefited Enterprise or “Preferred Enterprise” status of the Company for purposes of Israel Tax Ordinance (a “Tax Incentive”). Section 2.10(q) of the Disclosure Schedule lists each Tax Incentive to which the Company is entitled under the Laws of the State of Israel, the period for which such Tax Incentive applies, and the nature of such Tax Incentive. The Company has been in compliance with all material terms related to the Tax Incentives. The closing of the Transaction is not reasonably likely to have any adverse effect on the continued validity and effectiveness of any such Tax Incentives.
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Benefited Enterprise. “Preferred Enterprise,” “Preferred Technological Enterprise” or “Special Preferred Technological Enterprise” status or benefits (collectively, “Tax Incentive Programs”) and by Israeli laws and regulations relating to any Tax Incentive Program; (ii) all information supplied by the Company with respect to applications or notifications relating to any Tax Incentive Program (including in connection with any Ruling) was true, correct and complete when supplied to the appropriate authorities; and (iii) the Company has not received any notice of any proceeding or investigation relating to revocation or modification or denial of any current or past Tax Incentive Program granted with respect to the Company or any of its facilities or any such status or benefits, in each case, except for any failure to comply, inaccuracy or notice (as appropriate) that would not, individually or in the aggregate, have a Material Adverse Effect. (jjj) All obligations of the Company to provide statutory severance pay to all its currently engaged employees in Israel (“Israeli Employees”) are in accordance with
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Benefited Enterprise or “Preferred Enterprise” status of the Subsidiary for purposes of Israeli Tax Code (a “Tax Incentive”). Schedule 3.18(l) of the Disclosure Schedule lists each Tax Incentive to which the Company is entitled under the laws of the State of Israel, the period for which such Tax Incentive applies, and the nature of such Tax Incentive. The Company and its Subsidiary have been in compliance with all material terms related to the Tax Incentives. The consummation of the transactions contemplated by this Agreement is not reasonably likely to have any adverse effect on the continued validity and effectiveness of any such Tax Incentives.
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Related to Benefited Enterprise

  • micro-enterprise means an enterprise that employs less than ten employees having an annual turnover or a balance sheet total not exceeding 2 million Euro.

  • Black empowered enterprise means an enterprise that is at least 25,1% owned by black persons and where there is substantial management control. Ownership refers to economic interests. Management refers to executive directors. This is whether the black enterprise has control or not.

  • Restricted Enterprise means any Person that is actively engaged in any geographic area in any business which is either (i) in competition with the business of the Company or any of its subsidiaries or affiliates or (ii) proposed to be conducted by the Company or any of its subsidiaries or affiliates in their respective business plans as in effect at that time. During the Restriction Period, upon request of the Company, the Executive shall notify the Company of the Executive’s then-current employment status.

  • Competing Enterprise means any person or any business organization of whatever form, engaged directly or indirectly within the Area in the Business of the Company.

  • Black enterprise means an enterprise that is 50,1% owned by black persons and where there is substantial management control. Ownership refers to economic interest while management refers to the membership of any board or similar governing body of the enterprise.