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 Taxes. Except as provided in Section 2.5, liability for Federal Income Taxes shall be allocated as follows:
Federal Income Taxes. Not later than 2 business days prior to each Estimated Tax Installment Date with respect to any Pre-Deconsolidation Period, the parties shall, consistent with past practice, determine under the principles of Section 6655 of the Code the estimated amount of the related installment of the Instinet Group Federal Income Tax Liability. Instinet shall pay to Reuters no later than five (5) business days after such Estimated Tax Installment Date the amount thus determined.
Federal Income Taxes. Xxxxxx shall pay (or cause to be paid) to the IRS all Federal Income Taxes, if any, of the Consolidated Group.
Federal Income Taxes. Xxxx Foods shall pay (or cause to be paid) to the IRS all Federal Income Taxes, if any, of the Consolidated Group.
Federal Income Taxes. Not later than five business days prior to each Estimated Tax Installment Date following the date hereof with respect to a Pre-Deconsolidation Period, Xxxx Foods shall determine under Section 6655 of the Code the estimated amount of the related installment of the WhiteWave Group Federal Income Tax Liability for the taxable period. WhiteWave shall then pay to Xxxx Foods, not later than such Estimated Tax Installment Date, the amount thus determined.
Federal Income Taxes. Not later than 30 business days after a Consolidated Return is filed following the date hereof with respect to any Pre-Deconsolidation Period, Xxxx Foods shall deliver to WhiteWave a Pro Forma WhiteWave Group Consolidated Return or other comparable schedule reflecting the WhiteWave Group Federal Income Tax Liability for such period (or period beginning after the date of this Agreement, in the case of the Consolidated Return including the date of this Agreement). Not later than 30 business days after the date such Pro Forma WhiteWave Group Consolidated Return or other schedule is delivered, WhiteWave shall pay to Xxxx Foods, or Xxxx Foods shall pay to WhiteWave, as appropriate, an amount equal to the difference, if any, between the WhiteWave Group Federal Income Tax Liability for such taxable period and the aggregate amount paid by WhiteWave with respect to such taxable period under Section 3.7(a) of this Agreement.
Federal Income Taxes. Pursuant to the Supplemental Operating Agreement, it is the intention of Boeing to continue to file its Federal income tax returns on a consolidated basis with MDC and BCSC and its subsidiaries in accordance with the income tax regulations under Section 1502 of the Internal Revenue Code of 1986, as amended. With respect to each taxable year for which such practice remains in effect, BCSC agrees to pay to BCC an amount equal to the excess of (i) the amount of Boeing consolidated Federal income taxes which would be due for such taxable year if such taxes were computed by excluding BCC and its subsidiaries, over (ii) the amount of Boeing consolidated Federal income tax which would be due for such taxable year if such taxes were computed including BCC and its subsidiaries. If for any such taxable year the amount of taxes computed in accordance with clause (ii) hereof shall exceed the amount of taxes computed under clause (i), BCC shall pay BCSC an amount equal to the excess of the clause (ii) amount over the clause (i) amount. If subsequent to any payments made by BCSC (or BCC) pursuant to this Section 1, Boeing or BCSC (or BCC) shall incur Federal income tax losses which under applicable law could be carried back to the taxable year for which such payments were made, BCC (or BCSC) will nevertheless be under no obligation to repay to BCSC (or BCC) any portion of such payments.
Federal Income Taxes. (a) If Certificates are treated as held by more than one person or the Trust is recharacterized as an entity separate from its owner, each Certificateholder acknowledges and agrees that the Trust will be treated as a partnership solely for income tax purposes and that this Agreement does not create a partnership for any other purpose. No election to treat the Trust other than as a disregarded entity if the Certificates are treated as held by a single person or as a partnership if the Certificates are treated as held by more than one person for Federal income tax purposes or any relevant state tax purposes shall be made by or on behalf of the Trust, or by any Certificateholder.
(b) Net income of the Trust for any month as determined for Federal income tax purposes (and each item of income, gain, loss, credit and deduction entering into the computation thereof) shall be allocated:
(i) to the extent of available net income and in accordance with Federal income tax accounting and allocation principles, among the Certificateholders as of the first Record Date following the end of such month, in proportion to their ownership of principal amount of Trust Certificates on such date, an amount of net income up to the sum of (x) the Certificateholders' Monthly Interest Distributable Amount for such month, (y) interest on the excess, if any, of the Certificateholders' Interest Distributable Amount for the preceding Payment Date over the amount in respect of interest at the Certificate Rate that is actually deposited in the Certificate Distribution Account on such preceding Payment Date, to the extent permitted by law, at the Certificate Rate from such preceding Payment Date through the current Payment Date, and (iii) the portion of the market discount on the Receivables accrued during such month that is allocable to the excess of the initial aggregate principal amount of the Trust Certificates over their initial aggregate issue price; and
(c) If the net income of the Trust for any month is insufficient for the allocation described in clause (b) above, subsequent net income shall first be allocated to make up such shortfall before being allocated as provided in clause (b).
(d) Net losses of the Trust, if any, for any month as determined for Federal income tax accounting and allocation purposes (and each item of income, gain, loss, credit and deduction entering into the computation thereof) shall be allocated among the Certificateholders as of the first Record Date foll...
Federal Income Taxes. Ford shall pay to the Internal Revenue Service all Federal Income Taxes, if any, of the Consolidated Group due and payable for all taxable periods.
