Common use of Income Tax Liability Clause in Contracts

Income Tax Liability. Within ten (10) Business Days after the receipt of revenue agent reports or other written proposals, determinations or assessments of the Internal Revenue Service 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 one million dollars ($1,000,000) with respect to the Seller or twenty-five thousand dollars ($25,000) with respect to the Transferor, telephonic or emailed notice (confirmed in writing within five (5) Business Days) specifying the nature of the items giving rise to such adjustments and the amounts thereof.

Income Tax Liability. Within ten (10) Business Days after a request therefor by the receipt of Administrative Agent, revenue agent reports or other written proposals, determinations or assessments of the Internal Revenue Service IRS or any other taxing authority Governmental Authority which propose, determine or otherwise set forth positive adjustments to the tax Tax liability of (including any “Affiliated Group” (within the meaning of positive adjustments to amounts assessed under Section 1504(a)(l6221(a) of the Code) Code or any analogous provision of state or local tax law), or assess or propose the collection of Taxes required to have been withheld by, the Borrower which equal or exceed one million dollars ($1,000,000) with respect to 1,000,000 in the Seller or twenty-five thousand dollars ($25,000) with respect to the Transferoraggregate, telephonic or emailed facsimile notice (confirmed in writing within five (5) Business Days) specifying the nature of the items giving rise to such adjustments and the amounts thereof.

Income Tax Liability. Within ten (10) Business Days after the receipt of revenue agent reports or other written proposals, determinations or assessments of the Internal Revenue Service or any other taxing authority which propose, determine or otherwise set forth positive adjustments to the tax Tax liability of any “Affiliated Group” (within the meaning of Section 1504(a)(l) of the Code) which equal or exceed one million dollars ($1,000,000) with respect to the Seller Carvana or twenty-five thousand dollars ($25,000) with respect to the TransferorBorrower, telephonic or emailed notice (confirmed in writing within five (5) Business Days) specifying the nature of the items giving rise to such adjustments and the amounts thereof.

Income Tax Liability. Within ten (10) Business Days after the receipt of revenue agent reports or other written proposals, determinations or assessments of the Internal Revenue Service or any other taxing authority which propose, determine or otherwise set forth positive adjustments to the tax Tax liability of, or assess or propose the collection of Taxes required to have been withheld by, the Borrower, the Collateral Administrator, New Mountain Finance Advisors BDC, any “Affiliated Group” (within the meaning of Section 1504(a)(l) Taxable Entity or any equity owner of the Code) Collateral Administrator which equal or exceed one million dollars ($1,000,000) with respect to 1,000,000 in the Seller or twenty-five thousand dollars ($25,000) with respect to the Transferoraggregate, telephonic or emailed facsimile notice (confirmed in writing within five (5) Business Days) specifying the nature of the items giving rise to such adjustments and the amounts thereof.;

Income Tax Liability. Within ten (10) Business Days after the receipt of revenue agent reports or other written proposals, determinations or assessments of the Internal Revenue Service or any other taxing authority which propose, determine or otherwise set forth positive adjustments to the tax Tax liability of, or assess or propose the collection of Taxes required to have been withheld by, the Borrower, the Collateral Administrator, New Mountain Guardian Advisors BDC, any “Affiliated Group” (within the meaning of Section 1504(a)(l) Taxable Entity or any equity owner of the Code) Collateral Administrator which equal or exceed one million dollars ($1,000,000) with respect to 1,000,000 in the Seller or twenty-five thousand dollars ($25,000) with respect to the Transferoraggregate, telephonic or emailed facsimile notice (confirmed in writing within five (5) Business Days) specifying the nature of the items giving rise to such adjustments and the amounts thereof.;