Spinoff. Sellers shall cause the Company and its Board of Directors to pass such resolutions as may be necessary to set a record date for a spinoff of Pegasus which shall be no later than October 15, 2006 and to authorize a spinoff of Pegasus to the shareholders of the Company in accordance with SEC Staff Legal Bulletin No. 4 dated September 16, 1997 and such other laws and regulations as may be applicable to such transaction (the "Spinoff").
Appears in 2 contracts
Sources: Stock Purchase Agreement (GAS Investment China Co., LTD), Stock Purchase Agreement (Dolce Ventures, Inc)