Examples of Old Parent in a sentence
Old Parent has represented that the zz shares of preferred stock outstanding is nonqualified preferred stock as defined in section 351(g)(2) of the Internal Revenue Code.
If the transfer of the qualified vessel by Old Parent to Sub 2 in step (ii), above, qualifies under § 351 and Closing Agreement #1 is properly entered into, then, Closing Agreement #1 shall determine the CCF tax consequences resulting from the transfer.
The aggregate basis of the Sub 8 stock received by each of Shareholder 7, Shareholder 8, and Shareholder 9 in the Sixth Distribution will equal the aggregate adjusted basis of the Old Parent stock surrendered by each of the shareholders, respectively, in exchange therefor (§ 358(a)(1)).
Therefore, Holders of Old Parent Interests in Class 8 will not be entitled to vote to accept or reject this Plan.
On Date 4, Old Parent transferred its Business 2 assets to Acquiring and Sub 3 in exchange for stock in Acquiring and Sub 3, respectively.
The holding period of the Sub 7 stock received by Shareholder 1, Shareholder 2, and Shareholder 3 in the Fifth Distribution will include the holding period of the Old Parent stock surrendered in exchange therefor, provided the Old Parent stock is held as a capital asset on the date of the distribution (§ 1223(1)).
The holding period of the Sub 7 stock and Sub 8 stock received by Old Parent in the Second Distribution and the Third Distribution, respectively, will include the holding period of the Sub 3 stock with respect to which the Second Distribution and the Third Distribution, respectively, are made, provided Old Parent held the Sub 3 stock as a capital asset on the date of the Second Distribution and the Third Distribution (§ 1223(1)).
The Family N Shareholders will have exchanged all their stock in Old Parent for stock in Sub 3, Sub 7 and Sub 8, and the Family H Shareholders will hold all the outstanding stock in Old Parent.
On Date 5, Old Parent transferred a qualified CCF vessel to Sub 2 in constructive exchange for additional Sub 2 stock.
Old Parent will treat the receipt of Certain Property (step (vi), above) as a dividend to the extent of the current earnings and profits and accumulated earnings and profits of Sub 4.