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 the terms and conditions of the Grants and the Benefited Enterprise Ruling, and has duly fulfilled, in all material respects, all the undertakings relating thereto.

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

  • 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.

  • 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 City is currently working on a code audit to ensure development regulations align with state law to have clear and objective standards.

  • 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 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.

  • 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.

  • Neither the Company nor any of its Company Subsidiaries (i) has received any cash governmental grants with respect to its Benefited Enterprise status or (ii) has taken or failed to take any action that would reasonably be expected to invalidate the Tax Incentives provided under the Encouragement Law.


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, which at the time of conclusion of the payment service contract, is an enterprise as defined in Article 1 and Article 2(1) and (3) of the Annex to Recommendation 2003/361/EC in the version of 6 May 2003;

  • 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.

  • Joint enterprise means any lottery activity in which the bureau participates pursuant to a written agreement between the state of Michigan and any state, territory, country, or other sovereignty as executed by the commissioner. Joint enterprise does not include the state lottery created pursuant to this act.

  • small enterprise means an enterprise which employs fewer than 50 persons and whose annual turnover and/or annual balance sheet total does not exceed EUR 10 million;

  • Business enterprise means a firm, sole proprietorship, partnership, association, corporation, company, or other business entity of any kind including, but not limited to, a limited liability corporation, incorporated professional association, joint venture, estate, or trust.

  • other enterprise shall include employee benefit plans; references to “fines” shall include any excise tax assessed with respect to any employee benefit plan; references to “serving at the request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner he reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in manner “not opposed to the best interests of the Company” as referred to in this Agreement.

  • Black woman-owned enterprise means an enterprise with at least 25, 1% representation of black women within the black equity and management portion.

  • another enterprise as used in this Section shall mean any other corporation or any partnership, joint venture, trust, employee benefit plan or other enterprise of which the Indemnitee is or was serving at the request of the Company as a director, officer, partner, trustee, employee or agent. The provisions of this Section shall not be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth herein. Whether or not the foregoing provisions of this Section 10.4 are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company, or, with respect to any criminal Proceeding, to have had no reasonable cause to believe Indemnitee’s conduct was unlawful. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence.

  • Commercial enterprise means a person (other than an individual) who carries on commercial activities in any jurisdiction relating to the production, trade, transport or use of forest risk commodities.”

  • other enterprises shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on a person with respect to any employee benefit plan; references to “serving at the request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner he or she reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement.

  • Disabled Business Enterprise means a business owned by a person with a disability that is a continuing, independent, for-profit business that performs a commercially useful function, and is at least fifty-one (51%) owned and controlled by one (1) or more persons with a disability, or, in the case of any publicly-owned business, at least fifty one percent (51%) of the stock of which is owned and controlled by one(1) or more persons with a disability and whose management and daily business operations are under the control of one (1) or more persons with a disability.

  • public enterprise means a public enterprise as defined in Part V of the Handbook.

  • Enterprise means the Company and any other corporation, constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is a party, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, trustee, general partner, managing member, fiduciary, employee or agent.

  • Indemnitee-Related Entities means any corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise (other than the Company or any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise Indemnitee has agreed, on behalf of the Company or at the Company’s request, to serve as a director, officer, employee or agent and which service is covered by the indemnity described in this Agreement) from whom an Indemnitee may be entitled to indemnification or advancement of expenses with respect to which, in whole or in part, the Company may also have an indemnification or advancement obligation (other than as a result of obligations under an insurance policy).

  • Microenterprise means an enterprise which employs fewer than 10 persons and whose annual turnover and/or annual balance sheet total does not exceed EUR 2 million;

  • small and medium-sized enterprises or ‘SMEs’ means small and medium-sized enterprises as defined in Article 2 of the Annex to Commission Recommendation 2003/361/EC;

  • Social Enterprise means a business that: (i) is owned by a non-profit organization or community services co-operative; (ii) is directly involved in the production and/or selling of goods and services for the combined purpose of generating income and achieving social, cultural, and/or environmental aims; and (iii) has a defined social and/or environmental mandate.

  • Adult entertainment means any exhibition of any adult-oriented: motion pictures, live performance, computer or CD Rom generated images, displays of adult-oriented images or performances derived or taken from the internet, displays or dance of any type, which has a substantial portion of such performance any actual or simulated performance of specified sexual activities or exhibition and viewing of specified anatomical areas, removal or partial removal of articles of clothing or appearing unclothed, pantomime, modeling, or any other personal service offered customers.

  • Urban Enterprise Zones means a zone designated by the New Jersey Enterprise Zone Authority pursuant to the New Jersey Urban Enterprise Zones Act, N.J.S.A. 52:27H-60 et. seq.

  • Certified Minority Business Enterprise means a business which has been certified by the certifying organization or jurisdiction in accordance with s. 287.0943(1) and (2).

  • Director or officer means any of the following:

  • Enterprise Fund means the enterprise fund of the Recipient in which Revenues are deposited.

  • the Employment, Skills and Enterprise Scheme means a scheme under section 17A (schemes for assisting persons to obtain employment: “work for your benefit” schemes etc.) of the Jobseekers Act 1995 known by that name and provided pursuant to arrangements made by the Secretary of State that is designed to assist claimants for job-seekers allowance to obtain employment, including self- employment, and which may include for any individual work-related activity (including work experience or job search);