Common Stock Ownership. MRV shall be satisfied in its sole discretion that it will own at least 80.1% of the outstanding common stock of Luminent following the IPO. All other conditions to permit the Distribution to qualify as a tax-free distribution to MRV, Luminent and MRV's stockholders shall, to the extent applicable as of the time of the IPO, be satisfied. There shall be no event or condition that is likely to cause any of such conditions not to be satisfied as of the time of the Distribution or thereafter.
Appears in 2 contracts
Sources: Master Separation and Distribution Agreement (Luminent Inc), Master Separation and Distribution Agreement (Luminent Inc)