Demerged Undertaking 1 definition

Demerged Undertaking 1 means the business undertaking comprising of the FA Division (as defined hereinafter) of the Transferor Company, comprising of the assets and liabilities set out in Part A of Schedule 1 hereto, on a going concern basis, inclusive of but not limited to:
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Demerged Undertaking 1 means the entire media business which focuses on health and wellness, skin care, hair make up, make up and hairstyles and fashion which operates under the name of Stylecraze as identified by the management of the Demerged Company inclusive but not limited to all assets (movable or immovable, tangible or intangible) and all the businesses, undertakings, activities, properties, investments and liabilities, of whatsoever nature and kind and wheresoever situated shall include the following:
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Demerged Undertaking 1 means the entire consumer wireless mobile business, undertakings, activities and operations of the Transferor Company in the TTSL Circles, other than the Demerged Undertaking 2, to be transferred to BAL as a going concern with effect from the Appointed Date and, unless mutually agreed to and/ or identified between the relevant Parties, includes without limitation:
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Examples of Demerged Undertaking 1 in a sentence

  • See Note 4 of the Notes to the Condensed Consolidated Financial Statements included in this report for more information about the changes in the allowance for finance receivable losses.

  • All the assets, properties and liabilities of the Demerged Undertaking 1 and Demerged Undertaking 2 shall be vested in the Resulting Company 1 and Resulting Company 2 respectively at the value appearing in the books of the Demerged Company on the close of business on the day immediately preceding the Appointed Date.

  • With effect from the Appointed Date, the Transferor Company (having Remaining Business upon demerger of Demerged Undertaking 1 and Demerged Undertaking 2) shall stand amalgamated with the Transferee Company, as provided in the Scheme.

  • For the purpose of the Amalgamation under Part V of the Scheme, it is hereby clarified that Transferor Company shall mean Transferor Company having Remaining Business upon demerger of Demerged Undertaking 1 and Demerged Undertaking 2.

  • Similarly, the banker of Resulting Company 1 shall honour all cheques/electronic fund transfer instructions issued by Demerged Company (in relation to Demerged Undertaking 1) for payment after the Effective Date.

  • Transfer and vesting of Demerged Undertaking 1, Demerged Undertaking 2 and Remaining Business of Amalgamating Company having Remaining Business in terms of Part III, Part IV and Part V of the Scheme respectively, on a going concern basis, is not a sale in the course of business.

  • If required, the bankers of Demerged Company and Resulting Company 1 shall allow maintaining and operating of the bank accounts (including banking transactions carried out electronically) in the name of Demerged Company by Resulting Company 1 in relation to the Demerged Undertaking 1 for such time as may be determined to be necessary by Resulting Company 1 for presentation and deposition of cheques, pay order and electronic transfers that have been issued/made in the name of Demerged Company.

  • All the benefits (including deduction, if any) availed or liabilities accrued under the Income Tax Act to the Demerged Company (in relation to the Demerged Undertaking 1), for the period commencing the Appointed Date till Effective Date, shall for all purposes be treated as and deemed to be the benefit availed or liabilities accrued by Demerged Company on the behalf of and in trust of Resulting Company 1.

  • For the avoidance of doubt, input tax credits already availed of or utilized by the Demerged Undertaking 1 and Resulting Company 1 in respect of inter se transactions, if any shall not be adversely impacted by the cancellation of inter se transactions pursuant to this Scheme.

  • To the extent there are inter-corporate balances between the Transferee Company 1 and the Demerged Undertaking 1, the obligations in respect thereof shall stand cancelled.


More Definitions of Demerged Undertaking 1

Demerged Undertaking 1 means the Paper Business of Demerged Company (as defined below) including all related properties, assets, debts, Liabilities, duties, obligations, rights, benefits, incentives (including application therefor), exemptions, subsidies, concessions, refunds and powers, on a going concern basis, representing an undertaking in compliance with Section 2(19AA) of the Income Tax Act, as on the Appointed Date, which shall be transferred to and vested in the Resulting Company 1 upon demerger from the Demerged Company in terms of Part III of this Scheme. Without prejudice and limitation to the generality of the above, the Demerged Undertaking 1 means and includes:
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Demerged Undertaking 1 means the undertaking of the Demerged Company 1, pertaining to the Demerged Business 1, which shall be inclusive of, but not limited to:
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Demerged Undertaking 1 means all the businesses, undertakings, activities, operations and properties, of whatsoever nature and kind and wheresoever situated, forming part of the Commodity API Business as a going concern, including but not limited to, the following:
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Demerged Undertaking 1 means the business undertaking comprising of the general entertainment television business of the Transferor Company 1, comprising of the assets and liabilities set out in the Demerger Agreement, on a going concern basis, inclusive of but not limited to all assets (movable or immovable, tangible or intangible) license for non-news and current affairs television channels “Big Magic”, “Big Ganga”, “Big Magic Punjab”, “Big Gaurav”, “Big Magic HD” (covering general entertainment, kids entertainment and music genres) including any rights attached thereto, broadcasting rights, programming rights, telecasting rights or any other right of similar nature, records, the operations, licenses, deferred tax asset, tax credits (including service tax credit), the liabilities and obligations. It shall also include any personnel, intellectual property rights including rights registered for television formats of gaming based shows, or such other rights or tangible or intangible properties belonging to, or forming part of, or relating or appertaining to, or attributable to the division identified as the general entertainment television business of the Transferor Company 1.For the purpose of this Scheme, it is clarified that liabilities pertaining to the Demerged Undertaking 1 of the Transferor Company 1 shall include:a) The liabilities, which arise out of the activities or operations of the Demerged Undertaking 1of the Transferor Company 1;b) Specific loans and/or other financing facilities raised, incurred and / or utilized solely for the activities or operations of the Demerged Undertaking 1 of the Transferor Company 1;c) Liabilities other than those referred to in sub-Clauses (a) and (b) above, and not directly relatable to the Remaining Business of Transferor Company 1, being the amounts of general or multipurpose borrowings of Demerged Company 1, allocated to the Demerged Undertaking 1of Transferor Company 1 in the same proportion which the value of the assets transferred bears to the total value of the assets of Transferor Company 1 immediately before giving effect to this Scheme.
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Demerged Undertaking 1 means the business undertaking comprising of the general entertainment television business of the Transferor Company 1, comprising of the assets and liabilities set out in the Demerger Agreement, on a going concern basis, inclusive of but not limited to all assets (movable or immovable, tangible or intangible) license for non-news and current affairs television channels “Big Magic”, “Big Ganga”, “Big Magic Punjab”, “Big Gaurav”, “Big Magic HD” (covering general entertainment, kids entertainment and music genres) including any rights attached thereto, broadcasting rights, programming rights, telecasting rights or any other right of similar nature, records, the operations, licenses, deferred tax asset, tax credits (including service tax credit), the liabilities and obligations. It shall also include any personnel, intellectual property rights including rights registered for television formats of gaming based shows, or such other rights or tangible or intangible properties belonging to, or forming part of, or relating or appertaining to, or attributable to the division identified as the general entertainment television business of the Transferor Company 1.For the purpose of this Scheme, it is clarified that liabilities pertaining to the Demerged Undertaking 1 of the Transferor Company 1 shall include:
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Related to Demerged Undertaking 1

  • Demerged Undertaking means the Premium Brands Business of the Demerged Company and includes related assets, liabilities, rights and powers, on a going concern basis, representing an undertaking in compliance with Sec. 2(19AA) of the Income Tax Act, as on the Appointed Date, which shall be transferred and vested with the Resulting Company upon Demerger by the Demerged Company in terms of this Scheme. Without prejudice and limitation to the generality of the above, the Demerged Undertaking means and includes,:

  • related undertaking means any undertaking in which any person has a

  • reinsurance undertaking means reinsurance undertaking as defined in point (4) of Article 13 of Directive 2009/138/EC;

  • insurance undertaking means insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (1);

  • parent undertaking means a parent undertaking as defined in point (15)(a) of Article 4(1) of Regulation (EU) No 575/2013;

  • Affidavit and Undertaking means the affidavit and undertaking provided by the Bidder substantially in form and manner as annexed in Annexure I hereto;

  • financial undertaking means any of the following entities:

  • vertically integrated undertaking means an electricity undertaking or a group of electricity undertakings where the same person or the same persons are entitled, directly or indirectly, to exercise control, and where the undertaking or group of undertakings perform at least one of the functions of transmission or distribution, and at least one of the functions of generation or supply of electricity;

  • Standard Securitization Undertakings means representations, warranties, covenants and indemnities entered into by the Borrower or a Subsidiary thereof that are reasonably customary in non-recourse securitization transactions.

  • Performance Undertaking means that certain Performance Undertaking, dated as of the Closing Date, by Performance Provider in favor of Seller, substantially in the form of Exhibit XI, as the same may be amended, restated, supplemented or otherwise modified from time to time.

  • Intercompany Loan Agreement has the meaning set forth in the Purchase and Sale Agreement.

  • Intercompany Subordination Agreement means an intercompany subordination agreement, dated as of even date with the Agreement, executed and delivered by Borrower, each of its Subsidiaries, and Agent, the form and substance of which is reasonably satisfactory to Agent.

  • Continuing Disclosure Undertaking means the Continuing Disclosure Undertaking of the Issuer, in substantially the form attached hereto as Exhibit 1, dated the Closing Date, for the purpose of providing continuing disclosure information under Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as may be amended from time to time.

  • Original Obligor means an Original Borrower or an Original Guarantor.

  • Demerger means a demerger pursuant to Chapter 17 of the Finnish Companies Act (624/2006 as amended from time to time).

  • subsidiary undertaking means an undertaking controlled by a parent undertaking, including any subsidiary undertaking of an ultimate parent undertaking;

  • Amalgamation Agreement means the Amalgamation Agreement dated as of June 26, 2020 among Cybin, Clarmin and Subco relating to the Amalgamation, as amended on October 21, 2020, a copy of which is available under the Company’s profile on the SEDAR website at www.sedar.com.