Examples of German Transformation Act in a sentence
The New Shares are issued in connection with a spin-off for absorption (Abspaltung zur Aufnahme) under the German Transformation Act (Umwandlungsgesetz) (the “Spin-Off”).
Commerzbank AG is the legal successor to all of Dresdner Bank AG’s (“Dresdner”) interests by way of merger as of May 2009, effected by way of universal succession under the German Transformation Act, with Commerzbank AG as the entity resulting from such merger.
Our separation from Siemens was partly realized by way of a spin-off under the German Transformation Act (Umwandlungsgesetz) or comparable corporate measures under the laws of other jurisdictions.
Deutsche Bank Aktiengesellschaft, Frankfurt am Main (“Deutsche Bank”), was appointed by Siemens as trustee in connection with the Spin-Off as required by the German Transformation Act (Umwandlungsgesetz).
In this Prospectus, references to the “Siemens Energy Group”, the “Group”, “Siemens Energy”, “we”, “us” or “our” are references to the combined group of entities and business activities comprising the Siemens Energy business, with the Company acting as the ultimate holding company as from the completion of the spin-off for absorption (Abspaltung zur Aufnahme) under the German Transformation Act (Umwandlungsgesetz) (the “Spin-Off”, and its completion, the “Spin-Off Completion”).
In addition, the Act adjusts the deadlines in the German Transformation Act for the tax retroactive periods regulated there from eight to 12 months in line with the extensions already made in the German Transformation Act, in order to ensure synchronicity of deadlines.
For example, in accordance with the provisions of the German Transformation Act, Siemens Energy AG is jointly and severally liable with Siemens AG for any liabilities of Siemens AG that were incurred prior to Spin-Off Completion if such liabilities fall due within five years, or in case of retirement benefit obligations under the German Company Pension Act (Betriebsrentengesetz) ten years, from publication of the Spin-Off in the commercial registers of Siemens AG.
Thomas, “Other” includes, in fiscal 2017, the adjustment of the Siemens Stock Awards 2012 and Bonus Awards 2012 (transfer in November 2016) in accordance with Section 23 and Section 125 of the German Transformation Act ( Umwandlungs gesetz) due to the spin-off of OSRAM.
Under each Spin-off Agreement, VWFSAG and Volkswagen Aktiengesellschaft are mutually obliged to indemnify each other upon first demand from any liabilities, obligations or claims for security, which have not been allocated to the respective party under the relevant Spin-off Agreement, if and to the extent such liabilities, obligations or claims for security are asserted by creditors pursuant to Section 133 of the German Transformation Act or other statutory or contractual provisions.
Under the German Transformation Act VWFSAG and Volkswagen Aktiengesellschaft may be obliged to provide security to their creditors under certain circumstances.