Examples of Net Tax Benefit in a sentence
In the event that the Revenue Protection Amount for any Tax Year during the Limitation Period of this Agreement shall exceed the Applicant’s Net Tax Benefit for that Tax Year, the Revenue Protection Amount owed for that year shall be limited to the Applicant’s Net Tax Benefit for that Tax Year.
Any of the Cumulative Payments which cannot be paid to the District prior to the end of the first Tax Year following the end of the Tax Limitation Period because such payment would exceed the Applicant’s Net Tax Benefit under this Agreement will be deemed to have been cancelled by operation of law, and the Applicant shall have no further obligation with respect thereto.
Notwithstanding any other provision in this Agreement, in no event shall the Lost M&O Revenue calculated for a Tax Year of this Agreement during the period from the Tax Year that includes the date on which the Limitation Period commences under this Agreement as provided in Section 2.3.D.i, and ending at the end of the Tax Limitation Period as provided in Section 2.3.D.ii, exceed an amount equal to One Hundred Percent (100%) of the Applicant’s Net Tax Benefit for such Tax Year (the Aggregate Limit).
For purposes of this Agreement, a “Tax Benefit Payment” with respect to any Member means an amount, not less than zero, equal to the sum of: (i) the Net Tax Benefit that is Attributable to such Member and (ii) the Actual Interest Amount.
The “Actual Interest Amount” calculated in respect of the Net Tax Benefit for a Taxable Year will equal the amount of any Extension Rate Interest.