Future Tax Benefits Clause Samples
The 'Future Tax Benefits' clause defines how any potential tax advantages or credits that may arise in the future as a result of the agreement are to be handled between the parties. Typically, this clause specifies which party is entitled to claim such benefits, and may outline procedures for notifying the other party or sharing relevant documentation if a tax benefit is realized. Its core function is to allocate the right to future tax advantages, thereby preventing disputes and ensuring clarity regarding the financial outcomes of the agreement.
Future Tax Benefits. If any member of the Parent Group receives or is credited with any Tax Item that will or may result in a Tax Benefit to such Parent Group member in future Tax Periods and which is allocable to a member of the New Fluor Group pursuant to the provisions of Section 5.04(d)(i) and other applicable provisions of this Agreement, Parent shall pay to New Fluor, within 20 business days following the due date (excluding extensions) of the Tax Return (the "TR Due Date") for any Tax Period in which the Parent Group (or any member thereof) realizes any portion of such Tax Benefit, the amount of such Tax Benefit realized in such Tax Period. If Parent does not pay such amount within 3 business days following such TR Due Date, then Parent also shall pay to New Fluor, together with its payment to New Fluor of such Tax Benefit amount, interest thereon calculated at the Base Rate from such TR Due Date to the date of Parent's payment to New Fluor of the payment required hereunder. New Fluor shall have an identical obligation to pay to Parent the amount of any future Tax Benefits realized by a member of the New Fluor Group which are allocable to members of the Parent Group pursuant to the provisions of Section 5.04(d)(i) and other applicable provisions of this Agreement.
Future Tax Benefits. The value of any future tax benefits reflected on the Balance Sheet; and
Future Tax Benefits. If any member of the Parent Group receives or is credited with any Tax Benefit that will or may be used by such Parent Group member in future Tax Periods and which is payable or allocable to a member of the New Fluor Group pursuant to the provisions of Section 5.04(d)(i) and other applicable provisions of this Agreement, Parent shall pay to New Fluor, within 30 days following the date on which the applicable Tax Authority credits or otherwise notifies the Parent Group member of such future Tax Benefit, the Present Value of such future Tax Benefit. Parent also shall pay to New Fluor, together with its payment to New Fluor of such Present Value amount, interest thereon calculated at the Base Rate from the date of such action by such Tax Authority to the date of Parent's payment hereunder to New Fluor. New Fluor shall have an identical obligation to pay to Parent the Present Value of any future Tax Benefits credited by any Tax Authority to a member of the New Fluor Group which are payable or allocable to members of the Parent Group pursuant to the provisions of Section 5.04(d)(i) and other applicable provisions of this Agreement.