New Hydrogenics definition
Examples of New Hydrogenics in a sentence
The Parties have entered into this Agreement in connection with a support agreement dated June 11, 2009 (the “Support Agreement”) among HCo, the Board of Trustees and New Hydrogenics.
New Hydrogenics agrees to provide HCo with a copy of its general liability and directors’ and officers’ liability insurance policies concurrent with signing this Agreement.
New Hydrogenics shall have the exclusive right at its own expense and employing counsel of its own choice to communicate with the tax authorities on all matters relating to Tax Indemnity Issues.
New Hydrogenics also agrees not to take or permit any action to be taken by or on behalf of New Hydrogenics to terminate or adversely affect such insurance.
For certainty, New Hydrogenics shall be obligated to pay all premiums or other costs related to such insurance.
Within 10 business days of the receipt of a written request by HCo, New Hydrogenics will provide HCo with copies of any of the Books and Records reasonably requested by it for the purposes of this Agreement and the matters contemplated herein.
New Hydrogenics shall provide such assistance and cooperation to prepare such Tax Returns in accordance with applicable Laws and consistent with past practice, and, if prudent to do so, seek professional assistance and advice from an accounting firm in order to provide such assistance with respect to such Tax Returns.
Unless HCo notifies New Hydrogenics of an objection to the Draft Closing TA Statement in writing within 15 days after receipt of the Draft Closing TA Statement, the Draft Closing TA Statement shall be deemed to be the Closing TA Statement.
While the Independent Accounting Firm is making its determination hereunder, neither HCo nor New Hydrogenics shall communicate with the Independent Accounting Firm on the subject matter of its review, except by joint conference call, joint meeting or letter (including electronic mail) with a copy simultaneously delivered to the other party.
Benefits of the transaction to shareholders of Hydrogenics include an increase to New Hydrogenics’ cash reserves and working capital without a dilutive impact on shareholders of Hydrogenics, and the transfer of Hydrogenics’ assets to New Hydrogenics under the transaction, creating a new Canadian tax basis — which New Hydrogenics may apply in sheltering future taxable income.