Disqualified Distribution

Disqualified Distribution means:
a distribution in which any person, immediately after a divisive reorganization, holds a 50% or greater interest in either the parent company or a distributed subsidiary in which the interest consists of disqualified stock. Former IRC (check if this IRC provision is current here) §355(d)(3).

DISQUALIFIED STOCK stock acquired by purchase in a divisive reorganization within the 5-year period preceding the distribution. Former IRC (check if this IRC provision is current here) §355(d)(3).