STI Group definition
Examples of STI Group in a sentence
If SSI fails to provide STI with its written consent within fifteen (15) days of a written request from STI, STI and SSI shall immediately submit the matter to a "Big Six" public accounting firm mutually agreed to by STI and SSI (the "Referee") which shall within thirty (30) days of such submission examine the entire settlement and determine whether the SSI Group has been treated unfairly in the settlement as compared with other members of the STI Group.
Subject to the provisions of this Agreement and except as otherwise provided herein, STI shall make all payments and be entitled to all refunds of federal income tax and estimated federal income tax on behalf of any and all members of the STI Group.
Without limiting the foregoing, each SSI Member will (i) furnish to STI all relevant information that STI may reasonably require in order to prepare consolidated federal income tax returns of the STI Group and (ii) deliver to STI all consents, directors' resolutions and other documentation that STI may reasonably require to evidence the STI Group's authority to file consolidated federal income tax returns as contemplated in this Agreement.
The amount so determined (including interest at the Applicable Interest Rate through the date of payment) shall be payable within five (5) days after the STI Group Accountants (or such other accounting firm) has made its determination.
The fees and expenses charged by the STI Group Accountants (or such other accounting firm) shall be borne equally between STI and SSI.
The addresses for such communications shall be: If to the Company: STI Group, Inc.
Each SSI Member shall cooperate in filing ---------------------- any return or consent that is contemplated by the provisions of this Agreement and shall take such actions as STI may reasonably request in connection therewith and in connection with the prosecution of any refund claim or defense or settlement of any proposed deficiency with respect to any taxable year in which any SSI Member has joined in the consolidated federal income tax return of the STI Group.
SSI, for itself and all SSI Subsidiaries, --------------------- hereby irrevocably designates STI as its agent for the purpose of taking any and all actions necessary or incidental to the payment of estimated tax and the filing of consolidated federal and state income tax returns for any periods during which any SSI Member is includable in the STI Group.
Guarantor shall maintain a policy that provides that any ships owned by any member of the STI Group and which are due to be scrapped shall be scrapped in compliance with (i) the International Maritime Organization's convention for the Safe and Environmentally Sound Recycling of ships to the extent that are issued and in force at the time of such scrapping and (ii) the guidelines to be issued by the International Maritime Organization in connection with such convention.
SSI hereby consents, for itself and for all SSI ------------------ Subsidiaries not described in Section 1504 (b) that are now or hereafter A in the SSI Group, to be included in the filing of a consolidated federal income tax return with STI and other members of the STI Group for all periods for which SSI and any SSI Subsidiaries are members of the STI Group.