Examples of New Target in a sentence
In addition, the commitments and undertakings of the Commitment Parties with respect to (i) the New Target Credit Facilities will automatically terminate upon the effectiveness of the Target Credit Agreement Amendment, (ii) the New Pinnacle Credit Facilities will automatically terminate upon the effectiveness of the Pinnacle Credit Agreement Amendment and (iii) the Target Bridge Facility will automatically terminate upon the effectiveness of the Note Consent.
The proceeds of the New Pinnacle Term Loans, together with proceeds from the New Target Term B Loans and proceeds from either the Acquisitions Holdings Notes or the Acquisition Holdings Bridge Facility, shall be used to fund the Acquisition and to pay transaction fees and expenses and the working capital and general corporate purposes of Pinnacle and its subsidiaries after the Acquisition Closing Date.
As prescribed by § 338(b), the basis of the assets in the hands of New Target is called the “adjusted grossed-up basis” (“AGUB”) in the regulations.
United States, 77-2 USTC ¶ 9554, aff’d 215 Ct. Cl. 939 (1977), in support of its argument that New Target is entitled to deduct the contingent liability amounts New Target had assumed even though Seller paid the liabilities.
Here, New Target makes an upward adjustment in the basis of its assets in the amount of the contingent liabilities and pre-acquisition interest at the time the contingent liabilities and pre-acquisition interest become fixed and determinable.