Retained Undertaking definition

Retained Undertaking or “Remaining Undertaking” means all the business assets and liabilities and activities of the Demerged Company, including the trading business of semi-finished hosiery items and similar product, other than the business assets and liabilities of Demerged Undertaking, which upon this Scheme becoming effective, be vested with the Resulting Company as provided in the Scheme. The same shall include all the undertakings, businesses and operations of the Demerged Company other than those comprised in the Demerged Undertaking of Demerged Company and would specifically include hosiery trading business of the Demerged Company. The Retained Undertaking
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Retained Undertaking means all Assets (with all existing Encumbrances thereon, if any) and Liabilities of GGL immediate preceding the Effective Date that shall not be transferred to or vest in GCIL pursuant to the Scheme and accordingly do not form part of the Manufacturing Undertaking;
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Retained Undertaking or “Remaining Undertaking” means all the business assets and liabilities and activities of the Demerged Company, including the trading business of semi-finished hosiery items and similar product, other than the business assets and liabilities of Demerged Undertaking, which upon this Scheme becoming effective, be vested with the Resulting Company as provided in the Scheme. The same shall include all the undertakings, businesses and operations of the Demerged Company other than those comprised in the Demerged Undertaking of Demerged Company and would specifically include hosiery trading business of the Demerged Company. The Retained Undertaking shall include the whole of the assets, properties, liabilities and entire business(es) pertaining to such undertaking on a going concern. Any question that may arise with respect to a common asset such as cash and bank balances; etc. and/or with regard to any specific asset or liability as to whether and to what extent the same pertains or does not pertain to the ‘Retained Undertaking’ or whether it arises out of the activities or operations of the ‘Retained Undertaking’ shall be decided mutually between the Board of Directors of the Demerged Company and the Resulting Company.
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Examples of Retained Undertaking in a sentence

  • Upon the merger & amalgamation and transfer of the Manufacturing Undertaking to GCIL in the manner prescribed under this Scheme, GGL shall continue to own and operate the Retained Undertaking.

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  • The Remaining Undertaking/ Retained Undertaking of the Demerged Company shall continue with the Demerged Company.

  • After the Filing date, the net assets of Manufacturing Undertaking, Retained Undertaking and GCIL as of the Effective Date of GGL shall be prepared by the management of GGL and certified by a firm of chartered accountant.

  • After the Filing date, nancial statements of Manufacturing Undertaking, Retained Undertaking and GCIL as of the Effective Date of GGL specifying the net assets of Manufacturing Undertaking as well as residual net assets to be retained within GGL shall be prepared by the management of GGL and audited by the external auditors of GGL in accordance with accounting principles generally accepted in Pakistan, for the purposes of determining the actual number of shares to be issued to GGL by GCIL.

  • After the Filing date, the net assets of Manufacturing Undertaking, Retained Undertaking and GCIL as of the Effective Date of GGL shall be prepared by the management of GGL and certied by a rm of chartered accountant.

  • Likewise, any charge, security interest, lien, statutory lien or statutory charge pertains to any assets of the Retained Undertaking shall continue to have effect only on the assets of the Retained Undertaking and shall cease to have effect on the assets of the Demerged Undertaking.

  • The BEL Retained Undertaking shall not at any time be transferred to or vest in BTML and shall at all times remain part of BEL.

  • It is expressly clarified and provided that the Retained Undertaking shall continue to be so vested in Greenply and all liabilities, present or contingent, under the Income Tax Act, 1961 of Greenply as a whole, for the period prior to the Appointed Date shall be borne by Greenply with Greenply also being entitled to any and all tax refunds and other credits under the said acts for such prior period.

  • The Board of Directors in their meeting on June 16, 2010 decided to divide the Company into two companies by separating its Fertilizer Undertaking from the rest of the undertaking, that is to be retained in the Company (Retained Undertaking).


More Definitions of Retained Undertaking

Retained Undertaking means all the undertakings, businesses, activities, duties, debts, liabilities, obligations and operations of the Greenply other than those comprised in the Demerged Undertaking.
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Retained Undertaking means all the undertakings, businesses and operations of the Demerged Company, after the transfer of Transferred Undertaking – I and Transferred Undertaking – II to the Resulting Company-I and the Resulting Company -II;
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Related to Retained Undertaking

  • related undertaking means any undertaking in which any person has a

  • L/C Undertaking has the meaning set forth in Section 2.12(a).

  • Demerged Undertaking means the Premium Brands Business of the Demerged Company and includes related assets, liabilities, rights and powers, on a going concern basis, representing an undertaking in compliance with Sec. 2(19AA) of the Income Tax Act, as on the Appointed Date, which shall be transferred and vested with the Resulting Company upon Demerger by the Demerged Company in terms of this Scheme. Without prejudice and limitation to the generality of the above, the Demerged Undertaking means and includes,:

  • public undertaking means any undertaking over which the public sector bodies may exercise directly or indirectly a dominant influence by virtue of their ownership of it, their financial participation therein, or the rules which govern it; for the purpose of this definition, a dominant influence on the part of the public sector bodies shall be presumed in any of the following cases in which those bodies, directly or indirectly:

  • parent undertaking means a parent undertaking as defined in point (15)(a) of Article 4(1) of Regulation (EU) No 575/2013;

  • Disclosure Undertaking means the Issuer’s master undertaking to provide ongoing disclosure relating to certain obligations contained in the SEC Rule in connection with the general obligation notes of the Issuer issued after February 27, 2019, as implemented by Ordinance Number 50-933 of the Issuer.

  • group undertaking means the Company or another undertaking in the group;

  • railway undertaking means any public or private undertaking licensed according to this Directive, the principal business of which is to provide services for the transport of goods and/or passengers by rail with a requirement that the undertaking ensure traction; this also includes undertakings which provide traction only;

  • Affidavit and Undertaking means the affidavit and undertaking provided by the Bidder substantially in form and manner as annexed in Annexure I hereto;

  • Continuing Disclosure Undertaking means the Continuing Disclosure Undertaking of the Issuer, in substantially the form attached hereto as Exhibit 1, dated the Closing Date, for the purpose of providing continuing disclosure information under Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as may be amended from time to time.

  • insurance undertaking means insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (1);

  • Undertaking means any natural or legal person, whether profit-making or not, or any official body whether having its own legal personality or not;

  • Confidentiality Undertaking means a confidentiality undertaking in substantially the appropriate form recommended by the LMA from time to time or in any other form agreed between the Borrowers and the Facility Agent.

  • reinsurance undertaking means reinsurance undertaking as defined in point (4) of Article 13 of Directive 2009/138/EC;

  • financial undertaking means any of the following entities:

  • Performance Undertaking means that certain Performance Undertaking, dated as of the Closing Date, by Performance Provider in favor of Seller, substantially in the form of Exhibit XI, as the same may be amended, restated, supplemented or otherwise modified from time to time.

  • vertically integrated undertaking means an electricity undertaking or a group of electricity undertakings where the same person or the same persons are entitled, directly or indirectly, to exercise control, and where the undertaking or group of undertakings perform at least one of the functions of transmission or distribution, and at least one of the functions of generation or supply of electricity;

  • Undertaking Letter The letter in substantially the form set forth in Exhibit C of the Trust Agreement.

  • collective investment undertaking or ‘CIU’ means a UCITS as defined in Article 1(2) of Directive 2009/65/EC of the European Parliament and of the Council (2) or an alternative investment fund (AIF) as defined in point (a) of Article 4(1) of Directive 2011/61/EU of the European Parliament and of the Council (3);‌

  • subsidiary undertaking means an undertaking controlled by a parent undertaking, including any subsidiary undertaking of an ultimate parent undertaking;

  • Intercompany Subordination Agreement means an intercompany subordination agreement, dated as of even date with the Agreement, executed and delivered by Borrower, each of its Subsidiaries, and Agent, the form and substance of which is reasonably satisfactory to Agent.

  • ancillary services undertaking means an undertaking the principal activity of which consists in owning or managing property, managing data-processing services, or any other similar activity which is ancillary to the principal activity of one or more credit institutions;

  • Approved Underwriter has the meaning set forth in Section 3(f) of this Agreement.

  • Agreement has the meaning set forth in the preamble.

  • Company Security Agreement means the Company Security Agreement executed and delivered by Company on the Closing Date, substantially in the form of Exhibit XIV annexed hereto, as such Company Security Agreement may thereafter be amended, supplemented or otherwise modified from time to time.

  • Indemnifier means any Party obligated to provide indemnification under this Agreement;