Common use of Debt Forgiveness Clause in Contracts

Debt Forgiveness. The commercial debt forgiveness rules contained in Division 245 of the ITAA 1997 (or its predecessor provisions in Schedule 2C of the ITAA 1936), the value shifting rules contained in Divisions 723, 725 and 727 of the ITAA 1997 and the limited recourse debt rules contained in Division 243 of the ITAA 1997 have not applied in relation to any transaction, act or omission of any of the Evolution Group occurring or arising on or before Completion.

Debt Forgiveness. The commercial debt forgiveness rules contained in Division 245 of the ITAA 1997 (or its predecessor provisions in Schedule 2C of the ITAA 1936), the value shifting rules contained in Divisions 723, 725 and 727 of the ITAA 1997 and the limited recourse debt rules contained in Division 243 of the ITAA 1997 have not applied in relation to any transaction, act or omission of any of the Evolution Group Target Entities occurring or arising on or before Completionthe ▇▇ ▇▇▇▇▇▇ Accounts Date.