Examples of Fiat Parent in a sentence
The Company shall appoint a Tax Matters Member as the “tax matters partner” of the Company, as such term is defined under the Code, and each of the Company and the Members hereby agrees to appoint Fiat (or such other Affiliate of Fiat Parent that is a Member and as Fiat Parent may designate) as such Tax Matters Member so long as Fiat (or such other Affiliate) remains a Member of the Company.
The Board of Directors, including a Fiat Director, shall adopt corporate ethics, anti-bribery, anti-corruption, safety, environmental and other policies at least equivalent to those applicable to Fiat Parent.
The VEBA argues that the EBITDA of Fiat Parent should not include income attributable to noncontrolling interests because the Call Option Agreement defines “Person” as a corporation, and does not include affiliated entities consolidated for accounting purposes.
In other words, the VEBA asserts that the Call Option Agreement requires the use of the consolidated net income attributable to the owners of Fiat Parent, not the consolidated net income attributable to Fiat Parent in its financial statements.
The VEBA’s interpretation also would require the parties to stray further away from Fiat Parent’s financials “as reported,” and attempt to ascertain, among other things, what Fiat Parent’s interest charges, income taxes, depreciation, and amortization, excluding noncontrolling interests, would be.109 But, Fiat Parent does not report the extent to which its interest charges, income taxes, depreciation, and amortization are attributable to noncontrolling interests.
The Inclusion of the Notes in Net Industrial DebtA primary issue in this litigation is whether Fiat correctly included the VEBA Note with a face value of $4.587 billion and the CHCT Note with a face value of $976 million (collectively, the “Notes”) in the “Net Industrial Debt” of Fiat Parent and Chrysler.65 As previously mentioned, the Call Option Agreement defines “Net Industrial Debt” as “total indebtedness for borrowed money .
Specifically, the VEBA’s construction of the Call Option Agreement would require me to ignore the net income of Fiat Parent “as reported” and adjust that number to exclude profits attributable to noncontrolling interests.
Fiat agrees that the rights and obligations set forth in the prior sentence will apply to the Fiat Parent (i.e., Fiat Parent and its Affiliates will not solicit employees of Chrysler and Chrysler will not solicit employees of Fiat Parent or its Affiliates).
The Company shall appoint a Tax Matters Member as the "tax matters partner" of the Company, as such term is defined under the Code, and each of the Company and the Members hereby agrees to appoint Fiat (or such other Affiliate of Fiat Parent that is a Member and as Fiat Parent may designate) as such Tax Matters Member so long as Fiat (or such other Affiliate) remains a Member of the Company.
The Company shall appoint a Tax Matters Member as the “tax matters partner” of the Company, as such term is defined under the Code, and each of the Company and the Members hereby agrees to appoint FNA (or such other Affiliate of Fiat Parent that is a Member and as Fiat Parent may designate) as such Tax Matters Member so long as FNA (or such other Affiliate) remains a Member of the Company.