Common use of Certain Reporting Requirements Clause in Contracts

Certain Reporting Requirements. If a U.S. holder that receives Century Next common stock in the merger is considered a "significant holder," such U.S. holder will be required (1) to file a statement with its U.S. federal income tax return providing certain facts pertinent to the merger, including such U.S. holder's tax basis in, and the fair market value of, the ABC common stock surrendered by such U.S. holder, and (2) to retain permanent records of these facts relating to the merger. A "significant holder" is any ABC shareholder that, immediately before the merger, (a) owned at least 1% (by vote or value) of the outstanding stock of ABC, or (b) owned ABC securities with a tax basis of $1.0 million or more.