Allocation of Capital Loss Carry Forward Sample Clauses

Allocation of Capital Loss Carry Forward. The Parties shall share equally any capital loss carry forward that has accrued during the marriage through the date of execution of this Agreement, and shall cooperate in communicating to the IRS and the Massachusetts Department of Revenue (“DOR”) this allocation. In the event that the capital loss carry forwards cannot be divided equally, the Parties shall share equally the tax savings from the utilization of any capital loss carry forwards that are not divided equally, with those savings to be paid within sixty days after the filing of the tax returns on which those capital loss carry forwards are utilized. OR The Parties shall share equally any capital loss carry forward that has accrued during the marriage through the date of execution of this Agreement, and shall cooperate in communicating to the IRS and DOR this allocation. In the event that the capital loss carry forwards cannot be divided equally, the Parties shall share equally the tax savings from the utilization of any capital loss carry forwards that are not divided equally in the following manner. In order to give the Party who cannot use the capital loss (“Party A”) the benefit of 50% of the 2011 Capital Loss Carryovers, Party A’s accountants shall perform a reconciliation of Party A’s realized gains and losses each year on or before the date on which Party A’s tax returns are filed for so long as there remains any part of her 50% allocation of the Capital Loss Carryovers, and shall provide this information to Party B’s accountant. The accountants will notify the Parties of the federal and state tax due on Party A’s realized gain for the prior year. Within fourteen days of Party B’s receipt of written notification that Party A’s tax return has been filed, Party B shall pay Party A 100% of the tax due on Party A’s capital gain and, in return, will receive what would have been Party A’s portion of the Capital Loss Carryovers for that year. By way of example, if Party A has a $10,000 capital gain, her capital gain tax for the year, assuming a 20% rate, would be $2,000. Party B will pay Party A $2,000 and in exchange he will receive $10,000 in Capital Loss Carryovers for that year. EXHIBIT I MUTUAL WAIVERS
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Related to Allocation of Capital Loss Carry Forward

  • RETURN OF CAPITAL CONTRIBUTIONS No Partner shall be entitled to withdraw any part of its Capital Contribution or its Capital Account or to receive any distribution from the Partnership, except as specifically provided in this Agreement. Except as otherwise provided herein, there shall be no obligation to return to any Partner or withdrawn Partner any part of such Partner’s Capital Contribution for so long as the Partnership continues in existence.

  • Return of Capital Except pursuant to the rights of Redemption set forth in Section 8.6, no Limited Partner shall be entitled to the withdrawal or return of his or her Capital Contribution, except to the extent of distributions made pursuant to this Agreement or upon termination of the Partnership as provided herein. No Limited Partner or Assignee shall have priority over any other Limited Partner or Assignee either as to the return of Capital Contributions, or as otherwise expressly provided in this Agreement, or as to profits, losses, distributions or credits.

  • Cost of Capital Rate The Cost of Capital Rate shall equal the proposed Weighted Costs of Capital plus Federal Income Taxes and State Income Taxes.

  • Carry Forward and Transfer Employees will be allowed to carry forward, from year to year of service, any unused sick leave allowed under this provision, and will retain and carry forward any unused sick leave accumulated prior to the effective date of this Agreement. When an employee moves from one state of Washington employer to another, without a break in service, the employee’s accrued sick leave will be transferred to the new employer for the employee’s use.

  • Distributions Distributions shall be made to the Member at the times and in the aggregate amounts determined by the Member. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to the Member on account of its interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.

  • Carryover Notwithstanding any other provision of this Section 6, no adjustment shall be made to the number of shares of Common Stock to be delivered to the Warrantholder (or to the Exercise Price) if such adjustment represents less than 1% of the number of shares to be so delivered, but any lesser adjustment shall be carried forward and shall be made at the time and together with the next subsequent adjustment which together with any adjustments so carried forward shall amount to 1% or more of the number of shares to be so delivered.

  • Available Funds $ 5,439,225.01 ---------------

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Allocation of Senior Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

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