Common use of Insufficient Taxable Income Clause in Contracts

Insufficient Taxable Income. Notwithstanding anything in Section 3.1(b) to the contrary, if the aggregate potential Covered Tax benefit of the Corporation as calculated with respect to the Basis Adjustments and Imputed Interest (in each case, without regard to the Taxable Year of origination) is limited in a particular Taxable Year because the Corporation does not have sufficient actual taxable income to fully utilize available deductions, then the available Covered Tax benefit for the Corporation shall be allocated among the Members in proportion to the respective Tax Benefit Payment that would have been payable if the Corporation had in fact had sufficient taxable income so that there had been no such limitation.

Insufficient Taxable Income. Notwithstanding anything in Section 3.1(b) to the contrary, if to the extent that the aggregate potential Covered Realized Tax benefit Benefit of the Corporation as calculated with respect to the Basis Adjustments and Imputed Interest (in each case, without regard to the Taxable Year of origination) Tax Attributes is limited in a particular Taxable Year because the Corporation does not have sufficient actual taxable income to fully utilize available deductionsincome, then the available Covered Net Tax benefit Benefit for the Corporation shall be allocated among the Members TRA Holders in proportion to the respective Tax Benefit Payment that would have been payable if the Corporation had in fact had sufficient taxable income so that there had been no such limitation.