AMT Credit. Any minimum tax credit realized in subsequent years (determined on a FIFO basis) by the Consolidated Group as a result of incurring the alternative minimum tax liability will be allocated to the Member to which the original alternative minimum tax liability was allocated. If less than the full minimum tax credit is realized in a year, the amount of such minimum tax credit will be allocated to each Member that incurred the original alternative minimum tax liability in the following manner:
(i) first to each such Member which can or could have used the credit on a separate return basis according to the proportion that the original alternative minimum tax liability borne by each such Member bears to the sum of the original alternative minimum tax liabilities borne by all such Members;
(ii) then, any remaining minimum tax credit will be allocated to any remaining Members which incurred the original alternative minimum tax liability according to the proportion that the original alternative minimum tax liability borne by such remaining Members bears to the original alternative minimum tax liability borne by all such remaining Members. In no case under clauses (i) or (ii) above, however, will any Member be allocated an amount of AMT Credit in excess of its original alternative minimum tax liability.
AMT Credit. Any alternative minimum tax credit realized in subsequent years (determined on a first in first out basis) by the Consolidated Group as a result of incurring the alternative minimum tax liability will be allocated to the Members to which the original alternative minimum tax liability was allocated in proportion to such original allocation. If less than the full minimum tax credit is realized in a year, the amount of such minimum tax credit will be allocated to each Member that incurred the original alternative minimum tax liability in the manner determined by the Director of Taxes. However, in no case will any Member be allocated an amount of AMT Credit in excess of its allocated original alternative minimum tax liability.
AMT Credit. To the extent that the Combined Consolidated Group utilizes ---------- an AMT Credit (including an AMT Credit attributable to a Fuel Credit carryover) under section 53 of the Code against its regular tax liability for post-1987 periods, the applicable period to source such AMT Credit shall be determined on a first-in, first-out basis. The Overnite Consolidated Group shall be allocated a pro rata share of such AMT Credit utilized by the Combined Consolidated Group which is attributable to each sourcing period, determined by multiplying such AMT Credit by a ratio the numerator of which is the Overnite Consolidated Group's AMT Increment (as determined under subsection (1) above) for the applicable sourcing period and the denominator of which is the sum of such numerator and the AMT Increment of each UPC Division (as determined under subsection (1) above, increased by any Fuel Credit carryover attributable to that UPC Division) for such applicable sourcing period. Notwithstanding the foregoing, the Overnite Consolidated Group shall not be allocated the benefit from any AMT Credits which are attributable to any period ending prior to January 1, 1998.
AMT Credit
