CONSOLIDATED FEDERAL INCOME TAX LIABILITIES Sample Clauses

CONSOLIDATED FEDERAL INCOME TAX LIABILITIES. SECTION 2.01.
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CONSOLIDATED FEDERAL INCOME TAX LIABILITIES. Except as ------------------------------------------- otherwise provided in this Agreement, Stream shall pay, on a timely basis, all Taxes due with respect to the consolidated federal income Tax liability for all taxable years or periods beginning on or before the Drop-down Date of the Stream Affiliated Group. Each of MMI Holdings on behalf of the MMI Group and CST Holdings on behalf of the CST Group hereby assumes and agrees to pay (to the extent not previously paid by MMI Holdings or CST Holdings or any member of their respective Groups, as the case may be) the MMI Group's share and the CST Group's share, as the case may be, of those Taxes (with each share determined as described below) for all Pre-Drop-down Taxable Periods, which payments shall be made directly to Stream which shall then forward any balance due to the IRS. The share of the consolidated federal Income Tax liability for each of such periods for the Stream Group, the MMI Group, and the CST Group shall be determined based on the liability of Stream, MMI Holdings and CST Holdings, respectively, in respect of such Tax liability in accordance with the principles set forth in Section 3.01.
Sample 1
CONSOLIDATED FEDERAL INCOME TAX LIABILITIES. Except as otherwise provided in this Agreement, Grace-Conn. shall pay, on a timely basis, all Taxes due with respect to the consolidated federal income tax liability for all Pre-Merger Taxable Periods and Straddle Periods of the affiliated group of which Grace is the common parent (the "Affiliated Group"). Grace and NMC on behalf of the NMC Group hereby assume and
Sample 1
CONSOLIDATED FEDERAL INCOME TAX LIABILITIES. Except as otherwise provided ------------------------------------------- in this Agreement, HomeBase shall pay, on a timely basis, all Taxes due with respect to the consolidated federal income Tax liability for all periods beginning on or before the Distribution Date (including the Short Period) of the Waban Affiliated Group. BJI on behalf of the BJI Group hereby assumes and agrees to pay (to the extent not previously paid by BJI) the BJI Group's share of those Taxes for all periods beginning on or before the Distribution Date (including the Short Period), which payments shall be made directly to HomeBase which shall then forward any balance due to the IRS. The allocable shares of the consolidated federal income Tax liability for such periods for the BJI Group and the HomeBase Group shall be determined by applying the effective tax rate with respect to the applicable Tax Return to the positive taxable income, if any, determined in accordance with the principles set forth Tax Sharing Agreement
Sample 1
CONSOLIDATED FEDERAL INCOME TAX LIABILITIES. Except as ------------------------------------------- otherwise provided in this Agreement, HomeBase shall pay, on a timely basis, all Taxes due with respect to the consolidated federal income Tax liability for all periods beginning on or before the Distribution Date (including the Short Period) of the Waban Affiliated Group. BJI on behalf of the BJI Group hereby assumes and agrees to pay (to the extent not previously paid by BJI) the BJI Group's share of those Taxes for all periods beginning on or before the Distribution Date (including the Short Period), which payments shall be made directly to HomeBase which shall then forward any balance due to the IRS. The allocable shares of the consolidated federal income Tax liability for such periods for the BJI Group and the HomeBase Group shall be determined by applying the effective tax rate with respect to the applicable Tax Return to the positive taxable income, if any, determined in accordance with the principles set forth in Section 3.01 for each of the BJI Group and the HomeBase Group. With respect to the taxable year of the HomeBase Group that includes the Distribution Date and the taxable year of the BJI Group that commences immediately following the Distribution Date, the HomeBase Group shall claim on its federal income Tax Returns the benefit of (i) the graduated tax rates of Code Section 11, (ii) the $25,000 bracket amount in Code Section 38, (iii) the $40,000 exemption amount and the $150,000 bracket amount in Code Section 55, and (iv) the $2,000,000 bracket amount in Code Section 59A, and the BJI Group shall claim none of such benefits.
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Related to CONSOLIDATED FEDERAL INCOME TAX LIABILITIES

  • Income Tax Liability Within ten Business Days after the receipt of revenue agent reports or other written proposals, determinations or assessments of the IRS or any other taxing authority which propose, determine or otherwise set forth positive adjustments to the Tax liability of any “affiliated group” (within the meaning of Section 1504(a)(l) of the Code) which equal or exceed $1,000,000 in the aggregate, telephonic or telecopied notice (confirmed in writing within five Business Days) specifying the nature of the items giving rise to such adjustments and the amounts thereof.

  • Federal Income Tax Allocations Net income of the Trust for any month as determined for federal income tax purposes (and each item of income, gain, loss and deduction entering into the computation thereof) during which the beneficial ownership interests in the Trust are held by more than one Person shall be allocated:

  • INCOME TAX RETURNS Borrower has no knowledge of any pending assessments or adjustments of its income tax payable with respect to any year.

  • Consolidated Returns CAC, the Seller and the Issuer are members of an affiliated group within the meaning of Section 1504 of the Internal Revenue Code which will file a consolidated federal income tax return at all times until the termination of the Basic Documents.

  • Federal Income Taxes For a brief description of the tax effects of an investment in the notes, see “U.S. Federal Income Tax Considerations” on page S-12 of the attached prospectus supplement and page 61 of the attached prospectus.

  • Federal Income Tax Elections The Member shall make all elections for federal income tax purposes.

  • Federal Income Tax Matters The Certificateholders acknowledge that it is their intent and that they understand it is the intent of the Depositor and the Servicer that, for purposes of federal income, State and local income and franchise tax and any other income taxes, the Trust will be treated either as a disregarded entity under Treasury Regulation Section 301.7701-3 or as a partnership, and that the Certificateholders will be treated as partners in that partnership. The Certificateholders by acceptance of a Certificate agree to such treatment and agree to take no action inconsistent with such treatment. For each calendar quarter, other than periods in which there is only one Certificateholder:

  • Tax Liabilities The Investor understands that it is liable for its own tax liabilities.

  • Consolidated or Combined Tax Returns At Parent’s election and in its sole discretion, SpinCo will elect and join, and will cause its Affiliates to elect and join, in filing any Parent State Combined Income Tax Returns and any Joint Returns that Parent determines are required to be filed or that Parent chooses to file pursuant to Section 4.02(b). With respect to any SpinCo Separate Returns relating to any Pre-Distribution Period, SpinCo will elect and join, and will cause its Affiliates to elect and join, in filing consolidated, unitary, combined, or other similar joint Tax Returns, to the extent reasonably determined by Parent.

  • Tax Liability The Authorized Participant shall be responsible for the payment of any transfer tax, sales or use tax, stamp tax, recording tax, value added tax and any other similar tax or government charge applicable to the creation or redemption of any Basket made pursuant to this Agreement, regardless of whether or not such tax or charge is imposed directly on the Authorized Participant. To the extent the Trustee, the Sponsor or the Trust is required by law to pay any such tax or charge, the Authorized Participant agrees to promptly indemnify such party for any such payment, together with any applicable penalties, additions to tax or interest thereon.

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