Examples of PC Corp in a sentence
Pursuant to the articles of incorporation of PC Corp, Captor may, from time to time, exchange its Class B Common Shares for Class B Subordinate Voting Shares of MedMen Enterprises on a one-for-one basis (the “Subordinate Voting Shares”).
Pursuant to the Revised Partnership Audit Provisions, the PC Corp shall be designated and may, on behalf of the Company, at any time, and without further notice to or consent from any Member, act as the “partnership representative” of the Company (within the meaning given to such term in Section 6223 of the Code) (the “Partnership Representative”) for purposes of the Code.
If the Parties are unable to agree on an Expert within fifteen (15) calendar days of receipt by the respondent(s) of written notice of a Reconciliation Dispute, the selection of an Expert shall be treated as a Dispute subject to Section 7.8 and an arbitration panel shall pick an Expert from a nationally recognized accounting firm that does not have any material relationship with PC Corp or such Member or other actual or potential conflict of interest.
PC Corp shall be entitled to deduct and withhold from any payment that is payable to any Member pursuant to this Agreement such amounts as PC Corp is required to deduct and withhold with respect to the making of such payment under the Code or any provision of U.S. federal, state or local or non-U.S. tax law.
A Member shall not be responsible in any way for the performance of the obligations of any other Person hereunder, nor shall a Member have the right to enforce the rights or obligations of any other Person hereunder (other than PC Corp).
The Expert shall be a partner or principal in a nationally recognized accounting firm, and unless PC Corp and such Member agree otherwise, the Expert shall not, and the firm that employs the Expert shall not, have any material relationship with PC Corp or such Member or other actual or potential conflict of interest.
The obligations of a Member hereunder are solely for the benefit of, and shall be enforceable solely by, PC Corp.
The Expert shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section 7.9 shall be binding on PC Corp and the Members and may be entered and enforced in any court having competent jurisdiction.
Upon such Direct Exchange pursuant to this Section 11.03, the PC Corp shall acquire the Redeemed Units and shall be treated for all purposes of this Agreement as the owner of such Redeemed Units.
Subject to the provisions of this Agreement, the Realized Tax Benefit or Realized Tax Detriment for each Taxable Year is intended to measure the decrease or increase in the Actual Tax Liability of PC Corp for such Taxable Year attributable to the Basis Adjustments and Imputed Interest, as determined using a “with and without” methodology described in Section 2.4(a).