Foreign Venture Entities definition

Foreign Venture Entities has the meaning given such term in Section 4.1.
Sample 1
Foreign Venture Entities. Employees shall participate in the appropriate M-I foreign pension and profit-sharing plans for the benefit of similarly situated employees of the M-I Foreign Business in effect as of the day prior to the Effective Time ("M-I Foreign Plans"), on and after the Effective Time ("Foreign Venture Entities' Foreign Plans"). Subject to the requirements of applicable local laws, statutes and regulations, M-I shall cause the appropriate Foreign Venture Entities to assume the sponsorship of the M-I Foreign Plans, effective as of the Effective Time, and the Foreign Venture Entities will take all steps necessary to facilitate, cause and accept such transfer of plan sponsorship. As soon as practicable after the transfer of plan sponsorship, the appropriate Foreign Venture Entities shall timely comply with any reporting and qualification requirements in connection with such transfer and assumption that may be required under applicable laws. Each Foreign Venture Entities Employee, for purposes of vesting and eligibility under the Foreign Venture Entities' Foreign Plans, will be credited with service equal to the eligibility and vesting service such employee had earned as of the Effective Time under (1) the applicable Schlumberger foreign retirement and profit sharing plans ("Schlumberger Foreign Plans") and (2) M-I Foreign Plans, whichever is applicable.
Sample 1

Examples of Foreign Venture Entities in a sentence

  • Except as provided in Section 4.3 and below with respect to M-I Canada, the appropriate Foreign Venture Entity shall be responsible for severance pay, if any, for Foreign Venture Entities' Employees whose employment is terminated by such Foreign Venture Entity.

  • As provided in Section 4.7, the parties agree that the M-I non-U.S. pension and profit-sharing plans in effect as of the day prior to the Effective Time, and the accrued pension and profit-sharing benefits of the Former M-I Foreign Employees under such plans, shall be assumed by the appropriate Foreign Venture Entities.

  • Foreign Venture Entities' Employees shall receive credit under the appropriate Foreign Venture Entity vacation policy for their accrued and unused vacation days they had earned during 1999 under the vacation policy of the Schlumberger Foreign Business or the M-I Foreign Business, as appropriate, as of the Effective Time.

  • Furthermore, M-I and the Foreign Venture Entities shall timely comply with any applicable requirements in connection with the transfer, assumption and continuation of the M-I foreign welfare plan program under the applicable laws.

  • The Foreign Venture Entities shall take all such steps necessary to facilitate, cause and accept such transfer of plan sponsorship and continuation of the M-I foreign welfare plan program as the Foreign Venture Entities welfare plan program.

  • Unless otherwise expressly provided herein, or as provided in the applicable Foreign Venture Entity Charter Documents or as the parties otherwise may agree, the terms and conditions of employment of the Foreign Venture Entities' Employees shall be determined by the appropriate Foreign Venture Entity that employs the Foreign Venture Entities' Employees.

  • Smitx, xx agent, shall furnish the Foreign Venture Entities with all necessary information regarding wages paid to the Former M-I Foreign Employees, and the amounts withheld from such wages, by Smitx, xx agent, on or after the Effective Time.

  • The liabilities reflected on Exhibit 2.4-2, as supplemented by the Closing Statement related to Schlumberger, and the liabilities related to the performance of the contracts and agreements of the non-U.S. Drilling Fluids Business of Schlumberger, including those set forth on Exhibit 2.4-1, as supplemented by the Closing Statement related to Schlumberger, and only those liabilities (the "Schlumberger Assumed Liabilities"), shall become liabilities of the Foreign Venture Entities as of the Effective Time.

  • The appropriate Foreign Venture Entities shall accept the transfer of employment from the Schlumberger Foreign Business and the M-I Foreign Business as of the Effective Time of all Expatriates, ICs and Foreign Employees (collectively, "Non-U.S. Employees").

  • A summary of the terms of the Foreign Venture Entities welfare plan program, including such benefits for employees of M-I Canada and the Foreign Venture Entities' Employees who are eligible for benefits in the U.K., is attached hereto as Exhibit 4.7(c)-1.

Related to Foreign Venture Entities

  • Joint Venture Entity means any Joint Venture, any Wholly-Owned Subsidiary of a Joint Venture or any JV Subsidiary.

  • Domestic Foreign Holding Company means any Domestic Subsidiary of the Borrower that owns no material assets (held directly or indirectly through one or more disregarded entities) other than capital stock (or capital stock and/or debt) of one or more Foreign Subsidiaries that are CFCs and/or Domestic Foreign Holding Companies.

  • Joint Venture Company means any Subsidiary of the Company or any other Person of which 50% or less than 50% of the outstanding Voting Stock or participation is held by the Company or its Subsidiaries, whose Equity Interest is held directly or indirectly by the Company and one or more third parties that are not Affiliates of the Company for the purpose of directly or indirectly bidding new projects, including such Subsidiaries or Persons of the Company whose activities are governed by a joint venture agreement with one or more third parties that are not Affiliates of the Company.

  • Foreign Holding Company means any Subsidiary all or substantially all of the assets of which are comprised of Equity Interests in one or more Foreign Subsidiaries or CFC Debt.

  • foreign company means any company or body corporate incorporated outside India which—

  • JV Entity means any joint venture of the Borrower or any Restricted Subsidiary that is not a Subsidiary.

  • Foreign Subsidiaries means Subsidiaries of Borrower which are organized under the laws of a jurisdiction other than the United States of America, any State of the United States or any political subdivision thereof.

  • Designated Foreign Subsidiaries means all members of the Company Group that are organized under the laws of any jurisdiction or country other than the United States of America that may be designated by the Board or the Committee from time to time.

  • Wholly-Owned Consolidated Subsidiary means any Consolidated Subsidiary all of the shares of capital stock or other ownership interests of which (except directors' qualifying shares) are at the time directly or indirectly owned by the Company.

  • Joint Ventures means the joint venture or partnership or other similar arrangements (other than between the Company and the Operating Partnership) in which the Company or the Operating Partnership or any of their subsidiaries is a co-venturer, limited liability company member, limited partner or general partner, which are established to acquire or hold Investments.

  • Joint Venture Subsidiary means a Subsidiary of the Company or any of its Subsidiaries that has no assets and conducts no operations other than its ownership of Equity Interests of a Joint Venture.

  • Portfolio Companies means any Person in which any Fund owns or has made, directly or indirectly, an investment.

  • JV Subsidiary any Subsidiary of a Group Member which is not a Wholly Owned Subsidiary and as to which the business and management thereof is jointly controlled by the holders of the Capital Stock therein pursuant to customary joint venture arrangements.

  • Foreign Subsidiary Holding Company means any Domestic Subsidiary that is a direct parent of one or more Foreign Subsidiaries and holds, directly or indirectly, no other assets other than Equity Interests of Foreign Subsidiaries and other de minimis assets related thereto.

  • Canadian Subsidiaries means the Subsidiaries organized under the laws of Canada or any province, territory or other political subdivision thereof.

  • Taxable REIT Subsidiary means a “taxable REIT subsidiary” within the meaning of Section 856(l) of the Code.

  • Excluded Foreign Subsidiaries any Foreign Subsidiary in respect of which either (i) the pledge of all of the Capital Stock of such Subsidiary as Collateral or (ii) the guaranteeing by such Subsidiary of the Obligations, would, in the good faith judgment of the Borrower, result in adverse tax consequences to the Borrower.

  • Business Entity means a natural or legal person, business corporation, professional services corporation, limited liability company, partnership, limited partnership, business trust, association or any other legal commercial entity organized under the laws of this State or of any other state or foreign jurisdiction;

  • Indian-owned economic enterprise means any Indian-owned (as determined by the Secretary of the Interior) commercial, industrial, or business activity established or organized for the purpose of profit, provided that Indian ownership constitutes not less than 51 percent of the enterprise.

  • Domestic Subsidiaries means all Subsidiaries incorporated or organized under the laws of the United States of America, any State thereof or the District of Columbia.