CURRENT LAW. The following current law is referenced in this agreement. In the event current law changes or is repealed, the following will be altered to reflect the changes.
CURRENT LAW. With respect to periods not governed by changes to the Code enacted by the Bi-partisan Budget Act of 2015, unless and until the Board of Directors shall otherwise agree, Xxxxxxxx Xxxxx shall serve as the “Tax Matters Partner” for purposes of Section 6231 of the Internal Revenue Code (or any successor or amended provisions); provided, however, that the Tax Matters Partner (i) shall take all reasonable actions necessary to ensure that each Member becomes a “notice partner” as defined in Code Section 6223(a), (ii) shall keep the Members reasonably informed regarding any proceeding before the IRS, other governmental agency, court or administrative body and shall provide copies of any pleadings, briefs, petition, submissions and correspondence to each other Member, and shall provide the holders of Investor Units III the right to participate at its own expense in any such proceeding, (iii) shall not enter into any compromise or settlement agreement without the express written consent of the Members, (iv) shall not submit any request for administrative adjustment on behalf of the Company without the approval of the Members, and (v) shall not enter into any settlement pursuant to Rule 248(a) or (b) of the Rules of Practice and Procedure of the United States Tax Court without the express written consent of each other Member. Promptly following the written request of the Tax Matters Partner, the Company shall, to the fullest extent permitted by law, reimburse and indemnify the Tax Matters Partner for all reasonable expenses, including reasonable legal and accounting fees, claims, liabilities, losses and damages incurred by the Tax Matters Partner in connection with any administrative or judicial proceeding with respect to the tax liability of the Members. If the then-current Tax Matters Partner is no longer employed by Holdings at any time, the Board of Directors shall nominate a Founder that is currently employed by Holdings to act as the Tax Matters Partner for the Company and if no Founder is then employed by Holdings, the Board of Directors shall nominate a Person to act as the Tax Matters Partner.
CURRENT LAW. The credit programs of the Federal Government are displayed in the budget on a cash accounting basis. Cash accounting overstates the real economic cost of direct loan programs and understates the real economic costs of loan guarantee programs in the year loans are made.
CURRENT LAW. Section 257 of Xxxxx-Xxxxxx-Xxxxxxxx defined the terms “automatic spending increase,” “budget outlays,” “budget authority,” “concurrent resolution on the budget,” “deficit,” “maximum deficit amount,” “real economic growth,” “sequester,” “sequestration,” “account,” “sequesterable resource,” “margin,” “prepayment of a loan,” “outlay rate,” and “combined outlay rate.” Specifically, section 257 defines “margin” to mean $10 billion for fiscal years 1988 through 1992 and zero for fiscal year 1993. If the deficit exceeds the Xxxxx-Xxxxxx-Xxxxxxxx targets by less then the margin through fiscal year 1992, a sequester order is not triggered. House Bill The House bill moves the definitions section to a new section 250 and retains or revises the definitions of “outlays,” “budget authority,” “maximum deficit amount,” “real economic growth,” “sequester,” “sequestration,” “account,” and “prepayment of a loan.” the House bill adds to the definitions section new definitions for “breach,” “category,” “baseline,” “budgetary resources,” “discretionary appropriations,” “direct spending,” “current,” “sale of an asset,” “budget year,” “current year,” “outyear,” “OMB,” and “CBO,” but strikes definitions for “automatic spending increase,” “concurrent resolution on the budget,” “deficit,” sequesterable resources,” “outlay rate,” and “combined outlay rate.” Finally, the House bill redefines “margin” to mean $15 billion for fiscal year 1994 and 1995 (minus any authorized outlay adjustments).
CURRENT LAW. A reference in this Agreement to a section in HIPAA, HIPAA regulations, or the HITECH ACT means the section as in effect or as amended, and for which compliance is required.
CURRENT LAW. For periods not governed by the BBA Partnership Audit Rules, Xxxxx Xxxxxxx shall act as the Tax Matters Member of the Company pursuant to section 6231(a)(7) of the Code, and in such capacity shall represent the Company in all disputes, controversies or proceedings with the Internal Revenue Service.
CURRENT LAW. Under the Congressional Budget Act of 1974, the Senate and the House of Representatives limit discretionary spending primarily through overall allocations to their respective Appropriations Committees in the joint statement of the managers accompanying the concurrent resolution on the budget. These allocations, made pursuant to section 302(a) of the Congressional Budget Act of 1974, are sometimes called “302(a)s” or “crosswalks.” All committees must then divide these allocations among their subcommittees or programs. The Committees on Appropriations-which have jurisdiction over discretionary spending-must divide the allocations among their 13 subcommittees (including their Subcommittees on Defense and on Foreign Operations) under section 302(b) of the Congressional Budget Act. A point of order (requiring 60 votes to waive in the Senate and a simple majority to waive in the House) lies against any legislation that would cause spending to exceed these subdivided limits.
CURRENT LAW. Section 257 of Xxxxx-Xxxxxx-Xxxxxxxx defined the terms “automatic spending increase,” “budget outlays,” “budget authority,” “concurrent resolution on the budget,” “deficit,” “maximum deficit amount,” “real economic growth,” “sequester,” “sequestration,” “account,” “sequesterable resource,” “margin,” “prepayment of a loan,” “outlay rate,” and “combined outlay rate.” Specifically, section 257 defines “margin” to mean $10 billion for fiscal years 1988 through 1992 and zero for fiscal year 1993. If the deficit exceeds the Xxxxx-Xxxxxx-Xxxxxxxx targets by less then the margin through fiscal year 1992, a sequester order is not triggered. House Bill
CURRENT LAW. The Department of Transportation may enter into construction, maintenance, or repair contracts without complying with bidding requirements upon a determination of the Secretary of Transportation that an emergency exists and that it is not feasible or not in the public interest to comply with the bidding requirements. The term "emergency" was not previously defined as it relates to this authority under G.S. 136-28.1(e).
CURRENT LAW. The undersigned agree that this Memorandum shall not be the legal responsibility of either Party or of applicable law under any jurisdiction. The sole purpose of this Memorandum is to establish relations between the parties to this agreement. C.
