IT Undertaking definition

IT Undertaking means all the business and undertaking of the Demerged Company 1 engaged, inter alia, in owning, operating and promoting business in the field of information technology, business process management and such other ventures in relation to and identified as pertaining to the IT Undertaking and shall include ancillary and support services in relation to the same, and shall include (without limitation):
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Examples of IT Undertaking in a sentence

  • The Demerged Company 1 shall reduce the carrying value of assets and liabilities pertaining to the IT Undertaking, transferred to and vested in the Resulting Company 3 from the carrying value of assets and liabilities as appearing in its books.

  • If the Demerged Company 1 is entitled to any unutilized credits (including balances or advances), benefits under the incentive schemes and policies including tax holiday or concessions relating to the IT Undertaking under any Tax Laws or Applicable Laws, the Resulting Company 3 shall be entitled as an integral part of the Scheme to claim such benefit or incentives or unutilised credits as the case may be without any specific approval or permission.

  • All cheques and other negotiable instruments, payment orders received or presented for encashment which are in the name of the Demerged Company 1, in relation to or in connection with the IT Undertaking, after the Effective Date shall be accepted by the bankers of the Resulting Company 3 and credited to the account of the Resulting Company 3, if presented by the Resulting Company 3.

  • The Resulting Company 3 shall record the assets and liabilities pertaining to the IT Undertaking, transferred to and vested in it pursuant to this Scheme at their respective carrying values as appearing in the books of the Demerged Company 1.

  • Taxes, if any, paid or payable by the Demerged Company 1 after the Appointed Date 1 and specifically pertaining to IT Undertaking shall be treated as paid or payable by the Resulting Company 3 and the Resulting Company 3 shall be entitled to claim the credit, refund or adjustment for the same as may be applicable.

  • The employees of the Demerged Company 1 engaged in or in relation to the IT Undertaking who are transferred to the Resulting Company 3, as aforesaid, shall be deemed to constitute a separate class of employees of the Resulting Company 3 for the purpose of compliance with the provisions of the Employees Provident Fund and Miscellaneous Provisions Act, 1952.

  • Certainly, the emphasis on burden sharing and comparable treatment between private and official creditors constitutes a major advance over the debt strategies adopted in the 1980s and in the more recent emerging-market crises.

  • Two new CMS outcome measures (Improvement in Patient's Visual Function within 90 Days Following Cataract Surgery and Rate of Unplanned Hospital Visits After Colonoscopy) have been added and will be scored and publicly reported.

  • Loans and advances, receivables, payables and other dues outstanding between the Demerged Company 1 and the Resulting Company 3 relating to the IT Undertaking will stand cancelled and there shall be no further obligation / outstanding in that behalf.

  • After effectiveness of Part II of the Scheme, all debts, liabilities, loans, obligations of the Demerged Company 1 as on the Appointed Date 1 and relatable to the IT Undertaking (“ Transferred IT Liabilities”) shall, without any further act or deed, be and stand transferred to and be deemed to be transferred to the Resulting Company 3 to the extent that they are outstanding as on the Appointed Date 1 and the Resulting Company 3 shall meet, discharge and satisfy the same.

Related to IT Undertaking

  • L/C Undertaking has the meaning set forth in Section 2.12(a).

  • parent undertaking means a parent undertaking as defined in point (15)(a) of Article 4(1) of Regulation (EU) No 575/2013;

  • group undertaking means the Company or another undertaking in the group;

  • railway undertaking means any public or private undertaking licensed according to this Directive, the principal business of which is to provide services for the transport of goods and/or passengers by rail with a requirement that the undertaking ensure traction; this also includes undertakings which provide traction only;

  • financial undertaking means any of the following entities:

  • public undertaking means any undertaking over which the public sector bodies may exercise directly or indirectly a dominant influence by virtue of their ownership of it, their financial participation therein, or the rules which govern it; for the purpose of this definition, a dominant influence on the part of the public sector bodies shall be presumed in any of the following cases in which those bodies, directly or indirectly:

  • subsidiary undertaking means an undertaking controlled by a parent undertaking, including any subsidiary undertaking of an ultimate parent undertaking;

  • Disclosure Undertaking means the Issuer’s master undertaking to provide ongoing disclosure relating to certain obligations contained in the SEC Rule in connection with the general obligation notes of the Issuer issued after February 27, 2019, as implemented by Ordinance Number 50-933 of the Issuer.

  • Undertaking means any natural or legal person, whether profit-making or not, or any official body whether having its own legal personality or not;

  • Confidentiality Undertaking means a confidentiality undertaking in substantially the appropriate form recommended by the LMA from time to time or in any other form agreed between the Borrowers and the Facility Agent.

  • Letter of Undertaking means the letter of undertaking from, amongst others, the Issuer and its Managing Directors to the Initial Purchaser, Investment Manager and the Trustee.

  • electricity undertaking means any person engaged in the generation,transmission, distribution or supply of electricity including any holder of a licence or authorisation or a person who has been granted a permit under Section 37 of the Principal Act and any person transferring electricity to or from Ireland across an interconnector or who has made an application for use of an interconnector which has not been refused;

  • Continuing Disclosure Undertaking means the Continuing Disclosure Undertaking of the Issuer, in substantially the form attached hereto as Exhibit 1, dated the Closing Date, for the purpose of providing continuing disclosure information under Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as may be amended from time to time.

  • ancillary services undertaking means an undertaking the principal activity of which consists in owning or managing property, managing data-processing services, or any other similar activity which is ancillary to the principal activity of one or more credit institutions;

  • Demerged Undertaking means the Premium Brands Business of the Demerged Company and includes related assets, liabilities, rights and powers, on a going concern basis, representing an undertaking in compliance with Sec. 2(19AA) of the Income Tax Act, as on the Appointed Date, which shall be transferred and vested with the Resulting Company upon Demerger by the Demerged Company in terms of this Scheme. Without prejudice and limitation to the generality of the above, the Demerged Undertaking means and includes,:

  • Undertaking Letter The letter in substantially the form set forth in Exhibit C of the Trust Agreement.

  • collective investment undertaking or ‘CIU’ means a UCITS as defined in Article 1(2) of Directive 2009/65/EC of the European Parliament and of the Council (2) or an alternative investment fund (AIF) as defined in point (a) of Article 4(1) of Directive 2011/61/EU of the European Parliament and of the Council (3);‌

  • insurance undertaking means insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (1);

  • related undertaking means any undertaking in which any person has a

  • Guarantee and Adherence Agreement means the guarantee and adherence agreement pursuant to which the Guarantors shall, amongst other, (i) guarantee all amounts outstanding under the Finance Documents, including but not limited to the Bonds, plus accrued interests and expenses, (ii) agree to subordinate all subrogation claims, and (iii) undertake to adhere to the terms of the Finance Documents.

  • Approved Manager’s Undertaking means, in relation to each Ship, a letter of undertaking executed by the Approved Manager in favour of the Security Trustee in the Agreed Form agreeing certain matters in relation to the Approved Manager serving as the manager of that Ship and subordinating the rights of the Approved Manager against such Ship and the relevant Borrower to the rights of the Security Trustee under the Finance Documents;

  • group of undertakings means a controlling undertaking and its controlled undertakings;

  • reinsurance undertaking means reinsurance undertaking as defined in point (4) of Article 13 of Directive 2009/138/EC;

  • Performance Undertaking means that certain Performance Undertaking, dated as of the Closing Date, by Performance Provider in favor of Seller, substantially in the form of Exhibit XI, as the same may be amended, restated, supplemented or otherwise modified from time to time.

  • Substantial Involvement means involvement on the part of the Government. DOE's involvement may include shared responsibility for the performance of the Project; providing technical assistance or guidance which the Applicant is to follow; and the right to intervene in the conduct or performance of the Project. Such involvement will be negotiated with each Applicant prior to signing any agreement.

  • Existing ship means a ship which is not a new ship.