Examples of Seahawk Business in a sentence
The remaining $50x of consolidated net taxable income is attributable to and arises from the Seahawk Business during the period in which Seahawk joins in the filing of such Tax Return (viz., the period beginning January 1, 2009, and ending on the Distribution Date).
It also wants to be a provincial-level new materials and new energy industrial base, as well as a production base and a distribution center for furniture and home decoration materials.
Of the $200x of consolidated net taxable income reported on such Joint Return, $40x is foreign source taxable income and $60x is U.S. source taxable income attributable to and arising from the Pride Business and $100x is foreign source taxable income attributable to and arising from the Seahawk Business.
All $100x of consolidated net taxable income reported on the Separate Return is foreign source taxable income attributable to and arising from the Seahawk Business.
The $70x of Tax credits consist of (i) a $50x foreign Tax credit carryforward which was generated in 2008 by a member of the Seahawk Group (as the Seahawk Group was composed in 2008) which was at all times during 2008 engaged solely in the Pride Business, and (ii) a $20x foreign Tax credit carryforward which was generated in 2008 by a member of the Seahawk Group (as the Seahawk Group was composed in 2008) which was at all times during 2008 engaged solely in the Seahawk Business.
Because $150x of the consolidated net taxable income contributing to the Tax was attributable to the Pride Business and $50x of the consolidated net taxable income contributing to the Tax was attributable to the Seahawk Business, pursuant to Section 2.2(a), $52.5x of Tax will be allocable to Pride (viz., ($150x/$200x)($70x)) and $17.5x of Tax will be allocable to Seahawk (viz., ($50x/$200x)($70x)).
With respect to matters relating to the Seahawk Business, Seahawk shall have sole authority in perpetuity to determine whether to assert or waive any or all Privileges, and Pride shall take no action (or permit any of its Subsidiaries to take action) without the prior written consent of Seahawk that could, in Seahawk’s Good Faith Judgment, result in any waiver of any Privilege that could be asserted by Seahawk or any of its Subsidiaries under applicable Law and this Agreement.
Except as expressly set forth in this Agreement or in an Ancillary Agreement, Seahawk and Pride understand and agree that no member of the Pride Group is representing or warranting to Seahawk or any member of the Seahawk Group in any way as to the Seahawk Business, the Seahawk Assets or the Seahawk Liabilities; and, no member of the Seahawk Group is representing or warranting to Pride or any member of the Pride Group in any way as to the Pride Business, the Pride Assets or the Pride Liabilities.
In addition, the Seahawk Business has $150x of net taxable income and no losses or credits during the period beginning on April 1, 2009, and ending on December 31, 2009, but, in 2010, the Seahawk Business generates a $150x net operating loss (“NOL”), which constitutes a Tax Benefit allocated to Seahawk pursuant to Section 2.2(a).
The $150x of taxable income attributable to the Pride Business and the $50x of taxable income attributable to the Seahawk Business in each case includes deductions.