Shell Corporation definition

Shell Corporation means any Person created or established by the U.S. Borrower or any of its Wholly-Owned Subsidiaries, so long as (i) the aggregate amount of assets at any time held by any such Person does not exceed $10,000 and (ii) the aggregate amount of assets at any time held by all Shell Corporations at any time in existence does not exceed $100,000, it being understood that at such time as the assets of any Person which was a “Shell Corporation” exceed $10,000 or the assets of all Persons which were “Shell Corporations” exceeds $100,000, all such Persons shall cease to be Shell Corporations for purposes of this definition.
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Shell Corporation means, subject to the provisions of Section 8.11(e), any corporation established to effect a Permitted Acquisition which has not yet occurred, so long as the aggregate amount of assets at any time held by all Shell Corporations at any time in existence does not exceed $100,000, it being understood that at the time of the consummation of the respective Permitted Acquisition or at such time as the assets of any corporation which was a Shell Corporation exceed $100,000, such corporation shall cease to be a Shell Corporation.
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Shell Corporation means any Person created or established by the Borrower or any of its Wholly-Owned Subsidiaries, so long as (i) the aggregate amount of assets at any time held by any such Person does not exceed $25,000 and (ii) the aggregate amount of assets at any time held by all Shell Corporations at any time in existence does not exceed $250,000, it being understood that at such time as the assets of any Person which was a “Shell Corporation” exceed $25,000 or the assets of all Persons which were “Shell Corporations” exceeds $250,000, all such Persons shall cease to be Shell Corporations for purposes of this definition.
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Examples of Shell Corporation in a sentence

  • He is a board member of the Philippine National Museum, Caritas Manila, Pilipinas Shell Corporation; and Pilipinas Shell Foundation.

  • Hundreds of private firms ranging from international sports conglomerates (such as the International Cricket Council), to global firms (including Daihatsu Motor Company, Dow Chemical, Nestle Corporation, Microsoft, Shanghai Banking Corporation (HSBC), Vodafone, Coca Cola, Shell Corporation, Exxon, and News Corporation) have donated millions of dollars to assist Sri Lanka with its recovery activities.

  • Shell Corporation is at six years and counting on its permits for oil and gas exploration in Beaufort Bay.And the Port of Savannah, Georgia has spent thirteen years reviewing a potential dredging project, with no end to the review process in sight.

  • Especially since Ken Saro Wiwa and eight others were executed in Nige- ria, with apparent complicity from Royal Dutch Shell Corporation, the link between business and human rights has become subject to a very public debate (Avery 2000: 7).

  • He is also a Member of the Board of Directors of Caritas Manila, Pasig Development, Manila Peninsula, Pilipinas Shell Corporation and Pilipinas Shell Foundation.

  • The history of multinational corporations in Kenya dates back to early 1900 when Dutch Shell Corporation first set up shop in Mombasa.

  • Any practices intended to discourage applications for types of credit set forth in the institution's CR A Statement.

  • With the increase of the times of freeze-thaw cycles, the permeability coefficient is also increasing.

  • If the LOQ cannot be verified, the reporting limit must be increased until the validity of the lower limit can be re-established.

  • The oil produced and saved from these areas was sold exclusively under contract to Pilipinas Shell Corporation.


More Definitions of Shell Corporation

Shell Corporation means a corporation without business operations, liabilities or assets in excess of $100,000.
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Shell Corporation means any corporation established to effect a Permitted Acquisition which has not yet occurred, so long as the aggregate amount of assets at any time held by all Shell Corporations at any time in existence does not exceed $100,000. At the time of the consummation of the respective Permitted Acquisition or at such time as the assets of any corporation which was a Shell Corporation exceed $100,000, such corporation shall cease to be a Shell Corporation. At such time as the assets of all corporations which theretofore constitute Shell Corporations exceed $100,000 in the aggregate, the Borrower shall notify the Administrative Agent as to which corporations shall cease to constitute Shell Corporations or, in the absence of such designation, all such corporations shall at such time cease to be Shell Corporations.
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Related to Shell Corporation

  • School Corporation means the Western Xxxxx County Community School Corporation of the County of Xxxxx of the State of Indiana;

  • Public corporation means a county, city, village, township, port district, drainage district, special assessment district, or metropolitan district of this state, or a board, commission, or another authority or agency created by or under an act of the legislature of this state.

  • Family farm corporation means a corporation founded for the purpose of farming agricultural land in which the majority of the voting stock is held by and the majority of the stockholders are persons or the spouse of persons related to each other within the fourth degree of kinship, according to the rules of the civil law, and at least one of the related persons is residing on or actively operating the farm, and none of whose stockholders are a corporation. A family farm corporation does not cease to qualify under this division where, by reason of any devise, bequest, or the operation of the laws of descent or distribution, the ownership of shares of voting stock is transferred to another person, as long as that person is within the degree of kinship stipulated in this division.

  • of a corporation means all classes of Capital Stock of such corporation then outstanding and normally entitled to vote in the election of directors.

  • Gas Corporation means the body corporate established by section 4 of the Gas Corporation Act 1994;

  • Municipal corporation means, in general terms, a status conferred upon a local government unit, by state law giving the unit certain autonomous operating authority such as the power of taxation, power of eminent domain, police power and regulatory power, and includes a joint economic development district or joint economic development zone that levies an income tax under section 715.691, 715.70, 715.71, or 715.74 of the Ohio Revised Code.

  • Professional corporation means a corporation incorporated under former 1962 PA 192, or a corporation incorporated under this act and governed by chapter 2A.

  • S corporation means a person that has made an election under subchapter S of Chapter 1 of Subtitle A of the Internal Revenue Code for its taxable year.

  • Alaska Native Corporation (ANC) means any Regional Corporation, Village Corporation, Urban Corporation, or Group Corporation organized under the laws of the State of Alaska in accordance with the Alaska Native Claims Settlement Act, as amended (43 U.S.C. 1601, et seq.) and which is considered a minority and economically disadvantaged concern under the criteria at 43 U.S.C. 1626(e)(1). This definition also includes ANC direct and indirect subsidiary corporations, joint ventures, and partnerships that meet the requirements of 43 U.S.C. 1626(e)(2).

  • QUALIFIED MUNICIPAL CORPORATION means a municipal corporation that, by resolution or ordinance adopted on or before December 31, 2011, adopted Ohio adjusted gross income, as defined by section 5747.01 of the Ohio Revised Code, as the income subject to tax for the purposes of imposing a municipal income tax.

  • Eligible Corporation means any domestic C corporation (as defined in section 1361(a)(2) of the Code) other than a corporation which is exempt from, or is not subject to, tax under section 11 of the Code, an entity described in section 851(a) or 856(a) of the Code, a REMIC; or an organization to which part I, subchapter T, chapter 1, subtitle A of the Code applies. The Term "Related Person" means any person that bears a relationship to the Transferee enumerated in section 267(b) or 707(b)(1) of the Code, using "20 percent" instead of "50 percent" where it appears under the provisions; or is under common control (within the meaning of section 52(a) and (b) of the Code) with the Transferee.

  • Service corporation means a corporation organized under ss. 180.1903 to 180.1921.

  • Domestic Corporation means an entity that is treated as a corporation for United States federal income tax purposes and is a U.S. Tax Person.

  • General Corporation Law means the General Corporation Law of the State of Delaware, as amended from time to time.

  • Corporation/ Corpn./ Department means the Central Warehousing Corporation.

  • Qualifying corporation means any person classified for federal income tax purposes as an association taxable as a corporation, except either of the following:

  • Foreign professional corporation means a professional corporation organized under laws other than the laws of this state.

  • Nonprofit corporation means a nonstock corporation organized under ch. 181 that is a nonprofit corporation, as defined in s. 181.0103 (17).

  • Corporation Group means the Corporation, its affiliate, successors and permitted

  • Corporation means a corporation, association, company, joint-stock company or business trust.

  • Delaware General Corporation Law means the Delaware General Corporation Law, 8 Del. C.ss.100, et. seq., as amended from time to time.

  • Amalgamating Corporations means both of them;

  • Mutual housing corporation means a corporation not-for-profit,

  • Subchapter S Corporation (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of stock of Borrower, or (d) purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Bancorp means Eagle Bancorp, Inc., a Maryland corporation.

  • Cooperative Corporation The entity that holds title (fee or an acceptable leasehold estate) to the real property and improvements constituting the Cooperative Property and which governs the Cooperative Property, which Cooperative Corporation must qualify as a Cooperative Housing Corporation under Section 216 of the Code.