LDC Business definition

LDC Business has the meaning set forth in the Separation Agreement.
View Source
LDC Business means: (i) the business segment of Parent, which conducts the natural-gas distribution business, which provides natural gas distribution services in Kansas, Oklahoma, and Texas through Kansas Gas Service, Oklahoma Natural Gas and Texas Gas Service, respectively; (ii) any other business, operations, or assets where such business was conducted primarily through the use of the LDC Assets immediately prior to the Effective Time; and (iii) the businesses and operations of Business Entities acquired or established by or for any member of the Spinco Group after the Date of this Agreement; provided, however, the LDC Business shall not in any event include any operation, business or Asset expressly included in any of the Retained Businesses pursuant to this Agreement.
View Source

Examples of LDC Business in a sentence

  • Buyer is knowledgeable about the businesses engaged in by Seller through the LDC Business and the Subsidiary, and of the usual and customary practices of companies engaged in businesses similar to the Business and has had access to the Assets, the officers and employees of Seller, and the books, records and files of Seller and the Subsidiary relating to the Business, the Assets and the Stock.

  • The amount of Taxes, other than Federal Income Taxes and State Income Taxes, attributable to the LDC Business shall be determined by Parent in a manner consistent with the principles set forth in Section 3.03(a).

  • For purposes of separately determining the amounts deemed paid by Spinco to Parent or Parent to Spinco, as applicable, with respect to each Relevant Period, the Parties shall refer to the schedules and workpapers supporting the LDC Business Accounting Books, as determined by Parent.

  • Spinco shall be responsible for any and all Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Taxes as a result of a Final Determination) which Taxes are attributable to the LDC Business, as determined pursuant to Section 3.03.

  • Each such intercompany account on the LDC Business Accounting Books shall be treated as settled as of the Effective Time.