Controlled Foreign Subsidiary definition
Examples of Controlled Foreign Subsidiary in a sentence
In addition, if a Tax Audit relates to a Tax of a Controlled Foreign Subsidiary for a Pre-Closing Tax Period and the Foreign Tax Threshold Amount has not been exceeded, DuPont shall have the right (but not the obligation) to control the defense and settlement of such Tax Audit, provided that DuPont agrees to be responsible for the Taxes assessed in such Tax Audit and any such Taxes shall not be applied to the Foreign Tax Threshold Amount.
For purposes of the preceding sentence, Buyer shall notify DuPont of any notice received by Buyer relating to a Tax Audit of a Controlled Foreign Subsidiary or DPL for any Pre-Closing Tax Period.
For the avoidance of doubt, no Grantor shall grant a Security Interest in any Equity Interests in a Controlled Foreign Subsidiary or FSHCO under this Security Agreement and any such security interest, pledge or assignment shall be pursuant to, and governed by, the Pledge Agreement.
Furthermore, not more than 65% of the voting capital stock of a Controlled Foreign Subsidiary or FSHCO may be pledged as Collateral or security for any obligation under any Loan Document.
These principles shall also apply with respect to any Subsidiary that becomes a Controlled Foreign Subsidiary or FSHCO following any guarantee or pledge of its assets.