Assumption of Losses. (1) The valid version of Section 302 of the German Stock Corporation Act shall apply analo- gously. (2) In particular, the Controlling Company shall be obliged to offset any net loss for the year in- curred during the term of this Agreement unless such loss is offset by drawing funds from other retained earnings in accordance with Section 2, Paragraph 2, Sentence 2 which have been transferred to other retained earnings during the term of this Agreement. Furthermore, the provisions governing the waiver and settlement of the entitlement to offset losses (Sec- tion 302, Paragraph 3 of the German Stock Corporation Act) and the statutes of limitation (Section 302, Paragraph 4 of the German Stock Corporation Act) shall apply.
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Sources: Profit and Loss Pooling Agreement, Profit and Loss Pooling Agreement, Profit and Loss Pooling Agreement
Assumption of Losses. (1) The valid version of Section 302 of the German Stock Corporation Act shall apply analo- gouslyanalogously.
(2) In particular, the Controlling Company shall be obliged to offset any net loss for the year in- curred incurred during the term of this Agreement unless such loss is offset by drawing funds from other retained earnings in accordance with Section 2, Paragraph 2, Sentence 2 which have been transferred to other retained earnings during the term of this Agreement. Furthermore, the provisions governing the waiver and settlement of the entitlement to offset losses (Sec- tion Section 302, Paragraph 3 of the German Stock Corporation Act) and the statutes of limitation (Section 302, Paragraph 4 of the German Stock Corporation Act) shall apply.
Appears in 1 contract
Sources: Profit and Loss Pooling Agreement
Assumption of Losses. (1) The valid version of Section 302 of the German Stock Corporation Act shall apply analo- gously.
(2) In particular, the Controlling Company shall be obliged to offset any net loss for the year in- curred incurred during the term of this Agreement unless such loss is offset by drawing funds from other retained earnings in accordance with Section 2, Paragraph 2, Sentence 2 which have been transferred to other retained earnings during the term of this Agreement. Furthermore, the provisions governing the waiver and settlement of the entitlement to offset off- set losses (Sec- tion Section 302, Paragraph 3 of the German Stock Corporation Act) and the statutes stat- utes of limitation (Section 302▇▇▇, Paragraph 4 of the German Stock Corporation Act▇▇▇▇▇▇▇▇▇ ▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇) shall apply.
Appears in 1 contract
Sources: Profit and Loss Pooling Agreement