Common use of Duplicative Payments Clause in Contracts

Duplicative Payments. It is intended that the provisions of this Agreement will not result in a duplicative payment of any amount (including interest) required under this Agreement. It is also intended that the provisions of (i) this Agreement, subject to ARTICLE IV and Section 7.12 and (ii) the Continuing Limited Partners Tax Receivable Agreement, subject to Article IV and Section 7.12 of the Continuing Limited Partners Tax Receivable Agreement, will result in 85% of the Cumulative Net Realized Tax Benefit (but calculated taking into account all Mergers by all Exchanged Owners and all Exchanges by all Partnership Interest Holders as of any time) as of any determination date being paid in the aggregate to the Exchanged Owners pursuant to this Agreement and the Partnership Interest Holders pursuant to the Continuing Limited Partners Tax Receivable Agreement. The provisions of this Agreement shall be construed in the appropriate manner to ensure such intentions are realized.

Appears in 2 contracts

Samples: Tax Receivable Agreement (Core & Main, Inc.), Tax Receivable Agreement (Core & Main, Inc.)

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Duplicative Payments. It is intended that the provisions of this Agreement will not result in a duplicative payment of any amount (including interest) required under this Agreement. It is also intended that the provisions of (i) this Agreement, subject to ARTICLE IV and Section 7.12 and (ii) the Continuing Former Limited Partners Partner Tax Receivable Agreement, subject to Article IV and Section 7.12 of the Continuing Former Limited Partners Partner Tax Receivable Agreement, will result in 85% of the Cumulative Net Realized Tax Benefit (but calculated taking into account all Mergers by all Exchanged Owners and all Exchanges by all Partnership Interest Holders as of any timetime and all Mergers by all Exchanged Owners) as of any determination date being paid in the aggregate to the Exchanged Owners Partnership Interest Holders pursuant to this Agreement and the Partnership Interest Holders Exchanged Owners pursuant to the Continuing Former Limited Partners Partner Tax Receivable Agreement. The provisions of this Agreement shall be construed in the appropriate manner to ensure such intentions are realized.

Appears in 2 contracts

Samples: Tax Receivable Agreement (Core & Main, Inc.), Tax Receivable Agreement (Core & Main, Inc.)

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