Fuels Business definition

Fuels Business means Fuels Business and also, with respect to events that take place after the Business Transfer Time, Fuels Business as it is operated by the Fuels or any of its Subsidiaries after the Business Transfer Time, including any new activities, expansions, or other modifications made by Fuels or any of its Subsidiaries in the types and scope of activities conducted at the Business Transfer Time that are exclusively related to the marketing, selling and development of the gas distribution business and the manufacture and sale of “MagneGas” and the Venturi® Gasification systems used to create gas related products and services.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Fuels Business means (a) the operation of welding supply and gas distribution businesses and the manufacture and sale of “MagneGas” and the Venturi® Gasification systems used to create gas, conducted at any time prior to the Effective Time by either Party or any of their current or former Subsidiaries and (b) any terminated, divested or discontinued businesses, operations and activities that, at the time of termination, divestiture or discontinuation, primarily related to (i) the business, operations or activities described in clause (a) as then conducted or (ii) any other business operations or activities previously conducted as part of the businesses of Tech and its Subsidiaries, including those set forth on Schedule 1.2.

Fuels Business has the meaning set forth in the preamble and also means (i) the business and operations conducted by Tech and its Subsidiaries prior to the Distribution comprising what is referred to in the Tech 10-K as the Fuels Business segments; (ii) any other business (other than the Fuels Business) directly conducted by any member of the Tech Group as of or prior to the Distribution; and (iii) any business operation or assets that, at the time they were discontinued or sold, were not part of the Fuels Business as then reported in the Tech 10-K.

Examples of Fuels Business in a sentence

• The Parties shall use the procedures set forth in Article VI to resolve any disputes as to whether any information relates solely to the Tech Business, solely to the Fuels Business, or to both the Tech Business and the Fuels Business.

• Fuels shall, in its sole discretion, be permitted to amend (or cause or permit to be amended) any Single Business Tax Return relating to the Fuels Business.

• Fuels shall prepare and file (or cause a Fuels Entity to prepare and file) all Single Business Tax Returns relating to the Fuels Business, and shall pay (or cause such Fuels Entity to pay) all Taxes shown to be due and payable on such Tax Returns.

• The obligations and liabilities of SLG and Co-op under this ARTICLE VII will survive five (5) years after the Effective Date; provided, however, if the Fuels Business is still owned or operated by SLG on such five (5) year anniversary, then the obligations and liabilities of SLG and Co-op under this ARTICLE VII will survive until ten (10) years after the Effective Date.

• Tech personnel which provide for the commitment by En Fuels personnel to the delivery of the En Fuels Business Plan on a full time or part time and exclusive or non-exclusive basis to be agreed and set out in those Director Service Agreements/Employment Contracts, as appropriate.

More Definitions of Fuels Business

Fuels Business means any business or location (including real and Personal Property, and tangible and intangible property) previously or currently owned or operated by SLG or the Co-op in which fuels are sold or dispensed, whether internally or for sale to the general public.