Industrial business definition
Industrial business means a business with a North American Industry Classification System code of 11 (Agriculture, Forestry, Fishing and Hunting), 21 (Mining), 22 (Utilities), 23 (Construction), 31-33 (Manufacturing), 42 (Wholesale Trade), or 48-49 (Transportation and Warehousing);
Industrial business shall have the meaning set forth in the Distribution Agreement. "INDUSTRIAL COVERED PERSON" shall mean each member of the Industrial Group and any other Person, in each case to the extent any Policy addressed herein purports to provide insurance coverage in respect of any claims, suits, actions, proceedings, injuries, losses, liabilities, occurrences, damages or expenses incurred by such Person arising out of, in connection with or otherwise related to Industrial. "INDUSTRIAL EXCLUSIVE POLICIES" shall mean all current and past Policies which show Industrial Company, any other member of the Industrial Group or any of their respective predecessors (or such entity and its subsidiaries and/or affiliates) as the named insured and do not purport to relate to Energy or Shipbuilding or to cover any Energy Covered Person or Shipbuilding Covered Person, but excluding any Retained Policy. "INDUSTRIAL GROUP" shall have the meaning set forth in the Distribution Agreement. "INDUSTRIAL LIABILITIES" shall have the meaning set forth in the Distribution Agreement. "INSURANCE ADMINISTRATION" shall mean, with respect to any Policy, the accounting for premiums, defense costs, indemnity payments, deductibles and retentions, as appropriate, under the terms and conditions of such Policy, and the distribution of Insurance Proceeds. "INSURANCE PROCEEDS" shall mean those monies, net of any applicable premium adjustment, deductible, retention or similar cost paid or held by or for the benefit of an insured party which are either (i) received by an insured from an insurance carrier, or (ii) paid by an insurance carrier on behalf of an insured. "LETTERS OF CREDIT" shall have the meaning set forth in Section 7.1 hereof. "MERGER" shall have the meaning set forth in the Distribution Agreement. "MERGER AGREEMENT" shall have the meaning set forth in the Distribution Agreement. "MERGER TIME" shall mean the time at which the Merger becomes effective. "OCCURRENCE-BASED" shall mean, with respect to any Policy, coverage provided by such Policy for acts, omissions, damages or injuries which occur or are alleged to have occurred during a period specified in such Policy. "OCCURRENCE-BASED POLICIES" shall mean those current and past Policies which are Occurrence-Based in nature, including but not limited to those policies identified on SCHEDULE B hereto, which show Tenneco or any of its predecessors (or such entity and its subsidiaries and/or affiliates) as the named insured, but excluding (i) any d...
Industrial business means the businesses that, after giving effect to the Corporate Restructuring Transactions, are conducted by: (i) the Industrial Company, the Industrial Subsidiaries or any of the other members of the Industrial Group; and (ii) any business entity acquired or established by or for Tenneco, Industrial Company or any of the Industrial Subsidiaries between the date of this Agreement and the close of business on the Distribution Date that is engaged in, or intends to engage in, any business that is of a type or nature that would have resulted in such business being included either as a Subsidiary or an asset of Industrial Company on the Industrial Business Pro Forma Balance Sheet had it been acquired or established on or prior to the date of the Industrial Business Pro Forma Balance Sheet, determined on a basis consistent with the determination of the Subsidiaries and assets included on the Industrial Business Pro Forma Balance Sheet. "INDUSTRIAL BUSINESS PRO FORMA BALANCE SHEET" means the Pro Forma Consolidated Balance Sheet for Industrial Company and the Industrial Subsidiaries as of June 30, 1996 attached hereto as EXHIBIT F. "INDUSTRIAL COMMON SHARES" means the shares of Industrial Common Stock owned by Tenneco after giving effect to the stock dividend provided for in SECTION 2.02(A) hereof. "INDUSTRIAL COMMON STOCK" has the meaning ascribed to such term in the recitals to this Agreement. "INDUSTRIAL COMPANY" means New Tenneco Inc., a Delaware corporation. "INDUSTRIAL DISTRIBUTION" means the distribution on the Distribution Date as a dividend to holders of record of shares of Tenneco Common Stock as of the Distribution Record Date of all of the outstanding Industrial Common Shares owned by Tenneco on the basis provided in SECTION 3.02 hereof. "INDUSTRIAL GROUP" means Industrial Company, the Industrial Subsidiaries and the corporations, partnerships, joint ventures, investments and other entities that represent equity investments of any of Industrial Company or any of the Industrial Subsidiaries following the consummation of the Corporate Restructuring Transactions and the Distributions. "INDUSTRIAL INDEMNITEES" means: (i) Industrial Company and each Affiliate thereof after giving effect to the Corporate Restructuring Transactions and the Distributions; and 6
Examples of Industrial business in a sentence
The Consumer & Industrial business unit and Energy business unit of Seller are each unincorporated operating divisions of Seller.
Race information was not carried over to the Life/70 system during conversions in 1975, 1979 and 1989 for Ordinary, MDO and Industrial business, respectively.
Business Issued by Metropolitan Life For Industrial business, lapse rates were based on the long-term observed lapse experience.
Archived electronic data was available only for ANICO Industrial business.
The race-based practices were primarily limited to the Industrial business but some references were also noted in Ordinary manuals through 1951.
More Definitions of Industrial business
Industrial business means a business that uses a premise for manufacturing, processing, fabricating, assembling, storing, transporting, distributing, wholesaling, testing, servicing, repairing, wrecking, recycling or salvaging of goods or materials;
Industrial business has the meaning ascribed to that term in the Distribution Agreement. "INDUSTRIAL GROUP" has the meaning ascribed to that term in the Distribution Agreement. "INSURANCE ADMINISTRATION" means, with respect to a D&O Policy, the accounting for premiums, defense costs, indemnity payments, deductibles and retentions, as appropriate, under the terms and conditions of such D&O Policy, and the distribution of Insurance Proceeds. "INSURANCE PROCEEDS" means, with respect to an insured party, those monies, net of any applicable premium adjustment, deductible, retention or similar cost paid or held by or for the benefit of such insured party, which are either (i) received by an insured from an insurance carrier, or (ii) paid by an insurance carrier on behalf of an insured. "IRS RULING LETTER" has the meaning set forth in SECTION 7.1(G) hereof. "JOINT PROXY STATEMENT" has the meaning set forth in SECTION 6.7 hereof. "LAW" means any constitutional provision, statute, law, ordinance, rule, regulation, permit, decree, injunction, judgment, order, decree, ruling, determination, finding or writ of any Governmental Authority. "LAZARD" means Lazard Freres & Co. LLC. "MAJOR SUBSIDIARIES" means the following subsidiaries of Tenneco after giving effect to the Spinoffs: JURISDICTION NAME OF ORGANIZATION ---- --------------- Tennessee Gas Pipeline Company Delaware Tenneco Energy Resources Corporation Delaware Tenneco Gas Australia, Inc. Delaware Tenneco Corporation Delaware Tenneco Ventures Corporation Delaware Midwestern Gas Transmission Company Delaware East Tennessee Natural Gas Company Tennessee
Industrial business means any enterprise other than an agricultural business or commercial business and may include, but is not limited to, industrial parks; public utilities; activities involving the development, production, collection, conversion, storage, conservation or transmission of coal, electricity, gas, oil, steam, water or sources of energy not covered by the foregoing; manufacturing, fabricating or processing activities; research and development activities; docks, wharves, airports; storage, shipping, receiving, warehouse and distribution facilities; and facilities directly related, incidental or subordinate to any of the foregoing.
Industrial business means any privilege taxable under
Industrial business means the business of the Industrial Companies, after giving effect to the occurrence of the Pre-Closing Restructuring Transactions, the other pre-Closing transactions contemplated by this Agreement and consummated on or prior to the Closing Date, and the Post-Closing Restructuring Transactions.
Industrial business means any privilege taxable under section two-b or two-m, article thirteen of this chapter, and includes a manufacturing service taxable under section two-h of said article: Provided, That on and after July 1, 1987, the term "industrial business" shall mean the business of manufacturing, compounding or preparing tangible personal property for sale, profit or commercial use, the business of generating electric power, and the business of providing a manufacturing service, which were taxable, respectively, under sections two-b, two-m and two-h, article thirteen of this chapter, on January 1, 1985.