It tends to be even more difficult to terminate
a distributor that is highly dependent for its revenue on a single supplier.
It provides that a taxpayer may terminate
a previously made election out at any time, by attaching a termination statement to his or her gift tax return, filed by the due date of the return for the calendar year in which is made the first transfer to which the election out is not to apply.
Based on the above cases, the Tax Court concluded that HCMP's failure to terminate
the partnership under the procedure outlined in the partnership agreement with a resulting lawsuit were sufficient to prevent a termination even if no business was being conducted by the partnership.
It is important to note that a cooperative cannot terminate
the tenancy of a tenant-shareholder if the proprietary lease does not specifically grant that power to the cooperative.
For example, while a plan may have met the IRC's annual minimum funding requirements, a defined benefit plan may not have sufficient assets to cover accrued liabilities, and should the plan terminate
, it may be underfunded with respect to its termination liability.
In connection with the tender offer by an affiliate of BMCA, ElkCorp has filed a solicitation/recommendation statement on Schedule 14D-9 with the SEC and, if ElkCorp terminates
its merger agreement with Carlyle and enters into a merger agreement with BMCA, ElkCorp expects to file amendments to this Schedule 14D-9.
The IRS ruled that, because the LLCs and the LP were disregarded as entities separate from their owners, the fact that the LLCs or LP owned the S corporation would not terminate
the S election.
While the owner had the right to terminate
the broker's employment, the jury found he had not, and the broker was held to have been justified in continuing his efforts and entitled to a commission for ultimately finding a ready, willing and able purchaser.
In a letter to Sprewell informing him of the suspension, the team said it reserved the right to terminate
his contract under Section 16 of the Uniform Player Contract, which says players must ``conform to standards of good citizenship and good moral character'' and prohibits ``engaging in acts of moral turpitude.
These include costs of a plan to (1) exit an acquired activity ("exit plan"), (2) involuntarily terminate
acquired employees ("termination plan") or (3) relocate acquired employees ("relocation plan").
All but two of the triggering events that terminate
the prepaid gas agreement are optional as opposed to mandatory (such as Merrill Lynch's failure to supply gas or make a payment), introducing greater reliance on the Authority to act in the best interests of bondholders.
In 1990, this recognition was extended to permit swap participants to terminate
and net swap agreements.
11, the company sent a letter to the mall owners that they were terminating the lease for the Gant store and reserving the right to terminate
the other four leases.
For example, a tenant should be aware that (i) in cases of "repair," the tenant may have to endure substantial business disruption, and is specifically denied any rent abatement; and (ii) in cases of casualty, the tenant may find that the landlord has elected to terminate
a lease of great value to the tenant.
Before the financial statement date, management having the appropriate level of authority to involuntarily terminate
employees approves and commits the enterprise to the termination plan and establishes which benefits current employees will receive on termination.