Examples of Snacks Business in a sentence
On March 14, 2012, the Kraft ParentCo Board approved $1.7 billion of one-time expenses (excluding costs to incur debt) and $0.4 billion in capital expenditures to facilitate the Spin-Off and optimize both the North American Grocery Business and Global Snacks Business.
After any such compromise, settlement, consent to entry of judgment or entry of judgment, Seller and Acquiror will agree upon a reasonable allocation to Acquiror and Acquiror will be responsible for or receive, as the case may be, Acquiror’s proportionate share of any such compromise, settlement, consent or judgment attributable to the Snacks Business, the Wimbledon Assets or the Wimbledon Liabilities, including its proportionate share of the reasonable costs and expenses associated with defending same.
In addition, Spin-Off costs include financing and related costs to redistribute debt and secure investment grade credit ratings for both the North American Grocery Business and the Global Snacks Business.
In total, based on our estimates and the value of these net liabilities as of June 30, 2012, we estimate transferring to Kraft ParentCo approximately $365 million of our net liabilities as follows: • We plan to assume an estimated $297 million related to certain North American trade accounts payable of the Global Snacks Business and to receive an estimated $226 million of certain North American trade accounts receivable of the Global Snacks Business.
Acquiror and Seller will equitably apportion any refund or Refund Equivalent (including interest received from any Taxing Authority with respect to such refund or Refund Equivalent) received or realized with respect to Taxes imposed on or with respect to any Wimbledon Entity, the other Wimbledon Assets or the Snacks Business for a Straddle Period in a manner consistent with the principles set forth in Section 9.04(c).
We have also reflected $400 million of senior unsecured notes related to the Global Snacks Business for which we have been and will continue to be the direct obligor.
Seller or a Wimbledon Entity has the right to use each material item of Licensed Intellectual Property in accordance with the terms of the applicable license Contract in the operation of the Snacks Business as conducted by Seller prior to Closing.
For the avoidance of doubt, “Shared Operational Real Property” will not be deemed to include any real property utilized by Seller’s “Global Business Services” unit to provide support to the Snacks Business.
Except for the representations and warranties of Seller expressly set forth in this Agreement and the Ancillary Agreements, neither Seller nor any other Person makes any other express or implied representation or warranty on behalf of Seller or any of its Subsidiaries with respect to the Wimbledon Assets, the Snacks Business or the transactions contemplated by this Agreement and the Ancillary Agreements.
Acquiror and the Wimbledon Entities will be entitled to any refund or Refund Equivalent received or realized with respect to Taxes imposed on or with respect to any Wimbledon Entity, the other Wimbledon Assets or the Snacks Business for a Tax period beginning after the Closing Date.