“Straddle Period” means any taxable period that includes (but does not end on) the Closing Date.
“Subsidiary” means, with respect to any Person, (a) any corporation, partnership, association or other business entity of which (i) if a corporation, a majority of the total voting power of shares of capital stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a partnership, association or other business entity, a majority of the partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more Subsidiaries of that Person or a combination thereof, or (b) an amount of voting securities of or other interests in such entity that is sufficient to enable such Person to elect at least a majority of the members of such entity’s board of directors or other governing body. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a partnership, association or other business entity if such Person or Persons shall be allocated a majority of partnership, association or other business entity gains or losses or shall be or control the managing director or general partner of such partnership, association or other business entity.
“Support Agreement” means that certain Support Agreement, dated as of the date hereof, by and between Buyer and Clayton, Dubilier & Rice, LLC.
“Targeted Net Working Capital” means $(60,000,000) (negative sixty million dollars).
“Tax” means any United States federal, state, county, local, non-U.S. or other tax, custom, duty, or other governmental assessment or charge of any kind whatsoever in the nature of a tax, including income, gross receipts, ad valorem, franchise, profits, sales or use, transfer, registration, excise, utility, environmental, communications, real or personal property, capital unit, license, payroll, wage or other withholding, employment, social security (or similar), severance, stamp, occupation, premium, windfall profits, customs duties, unemployment, disability, value added, alternative or add on minimum, transfer, estimated or other tax (including deficiencies, penalties, additions to tax and interest attributable thereto), whether disputed or not.
“Tax Returns” means any return, declaration, election, disclosure, report, claim for refund, statement, information return, or other filing, including any schedules attached thereto and including any amendment thereof, required to be filed with any Governmental Entity with respect to Taxes.
“Termination Date” means the date that is the first Business Day following the expiration of one hundred eighty (180) days from the date of this Agreement, as such date may be extended pursuant to Section 6.01(e).
“Termination Fee” means, (a) in the event this Agreement is terminated as set forth in Section 6.03(a)(i), an amount equal to $75,000,000 (seventy five million dollars), or (b) in the event this Agreement is terminated as set forth in Section 6.03(a)(ii), an amount equal to $125,000,000 (one hundred twenty five million dollars).
“Trade Laws” has the meaning set forth in Section 3.18(b).
“Trade Secrets” means trade secrets and other confidential information, including source code, know how, methods, processes, techniques, data, formulae, algorithms, research, records, reports, industrial models, architectures, layouts, designs, drawings, plans, product specifications, technical data, customer and supplier lists, pricing and cost information, and business and marketing plans and proposals.
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