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Public Transaction Summary

Mitel/Polycom -- summary under Delaware etc. Mergers

Mitel and Polycom intend to treat the merger as divided for Code purposes into two transactions: (1) the redemption of a portion of the shares of Polycom stock held by each Polycom stockholder for the portion of the cash consideration that is funded by Polycom (including any borrowing by Merger Sub and Polycom and any cash distributions from subsidiaries of Polycom (collectively, the "redemption cash")), and (2) the exchange of a portion of the shares of Polycom stock held by each Polycom stockholder for Mitel common shares and the cash which is funded by Mitel (the "merger cash. ... U.S. tax considerations Merger conditions The merger agreement provides that neither (1) a change or proposed change in Code s. 7874 nor (2) a decline in the trading price of a Mitel common share that would result in Mitel being treated as a domestic corporation for U.S. federal income tax purposes as of the effective time of the merger will give Mitel or Polycom any right to avoid or delay closing of the merger or terminate the merger agreement. ... Holder's stock interest in the redeeming corporation; (2) is a "substantially disproportionate" redemption with respect to the U.S. ...
Public Transaction Summary

Thomson Reuters -- summary under S. 86 cash distributions

This “Return of Capital Transaction” was effected pursuant to on Ontario Plan of Arrangement, whose terms effectively indicate that the Corporation is potentially willing to entertain letting Participating Shareholders elect under s. 85(1) or (2) respecting the above exchange. ... Each outstanding Participating Share will be exchanged for (i) the Cash Distribution Per Share of US$4.45, and (ii) a portion of a New Common Share equal to the Share Consolidation Ratio, being the ratio of US$X – Cash Distribution Per Share to US$X, where X is the volume weighted average trading price of Shares on the New York Stock Exchange for the five trading days preceding the “Effective Date” (i.e., of the Arrangement); In connection with 2, the Corporation will deduct from the stated capital of the Shares an amount equal to the aggregate stated capital, immediately before the exchange in 2, of the Participating Shares; The Corporation will add to the stated capital account of the New Common Shares an amount in Canadian dollars equal to the difference between (i) the aggregate PUC of the Participating Shares immediately before such exchange, and (ii) the Aggregate Cash Distribution Amount in Canadian dollars; Each New Common Share will be exchanged for one Share. ... Potential availability of s. 85 election At the reasonable request of a Shareholder, based on facts and circumstances arising after the Effective Date, the Corporation will make available to all Shareholders a joint income tax election pursuant to s. 85(1) or (2) and any equivalent provincial provision with respect to the exchange of Shares for cash and New Common Shares, provided that the Corporation has determined that making such income tax election available is not unduly detrimental to the Corporation, having regard to the interests of Shareholders and other stakeholders as a whole and the purpose of the Plan of Arrangement. ...
Folio Summary

S3-F4-C1 - General Discussion of Capital Cost Allowance -- summary under Subsection 13(27)

S3-F4-C1- General Discussion of Capital Cost Allowance-- summary under Subsection 13(27) Summary Under Tax Topics- Income Tax Act- Section 13- Subsection 13(27) Capable of producing salable product 1.34 … Example 2 Company B purchased specialized machinery for use in its manufacturing business. ... However, the company did not complete construction of the manufacturing facility until Year 2, at which time the production line was put into service. Results: Although the machinery was not used in the production line until Year 2, it was capable of producing a commercially saleable product in Year 1. ...
Folio Summary

S1-F3-C4 - Moving Expenses -- summary under Eligible Relocation

The notion of ordinarily resided must be given the meaning assigned... in Thomson v Minister of National Revenue, [1946] S.C.R. 209, 2 DTC 812. 4.12 For details regarding individuals who are absent from but resident in Canada for the purposes of the Act, see Income Tax Folio S5-F1-C1, in particular ¶1.10- 1.21.... ... A few months' stay at intermediate residence, not ordinarily residing Example 2 An individual who ordinarily resides in dwelling A in Saskatoon moves to Regina in order to be employed. ...
Folio Summary

S5-F4-C1 - Income Tax Reporting Currency -- summary under Subsection 261(18)

Scenario 2 Canco incorporates Cansub. Canco and Cansub amalgamate to form Newco. ...
Folio Summary

S2-F1-C2 - Retiring Allowances -- summary under Retiring Allowance

and Question 2 – Was the purpose of the payment to compensate a loss of employment? ...
Folio Summary

S3-F9-C1 - Lottery Winnings, Miscellaneous Receipts, and Income (and Losses) from Crime -- summary under Section 3

Example 2 Assume a business uses crowdfunding as a method of raising funds for the development of a new product and the contributors do not receive any form of equity. ...
Folio Summary

S7-F1-C1 - Split-receipting and Deemed Fair Market Value -- summary under Subsection 248(32)

Example 2 One of the items available at a charity auction is a mountain bike. ...
Public Transaction Summary

Agnico/Yamana/Osisko -- summary under Shares for Shares and Cash

.), a 2% NSR on Canadian exploration properties held directly or indirectly by Osisko and a 5% NSR on the "Canadian Malartic Properties" (mining rights and related assets in the Abitibi region of Quebec including reserves of 6.3M gold ounces) to be held by Canadian Malartic GP (collectively, the "New Osisko Assets" referred to in 2 below). ...
Public Transaction Summary

DRI Healthcare -- summary under Foreign Asset Income Funds and LPs

Structure for holding Seed Assets A wholly-owned Irish subsidiary of the trust (DRI Healthcare) will hold the Seed Assets through the following structure: 100% of a Delaware LP (Drug Royalty LP 2) 100% of a second Delaware LP (Drug Royalty III, L.P.) Directly-held royalty interest (the RMF 2 Portfolio) Growth plans The objective is to acquire between $650 million to $750 million of pharmaceutical royalty interests over the next five years, through the remaining net proceeds of this offering, internally generated cash flow and debt financing through additional asset securitizations. ...

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