Loss Carryforwards. Section 3.06(s) of the Focus Disclosure Schedule sets forth a complete and correct list and description of any United States federal and state net operating and capital loss carryforwards for Focus and any of its Subsidiaries (including any limitations of such net operating or capital loss carryforwards under Sections 382, 383 or 384 of the Code and related the Treasury Regulations), if any, as of December 31, 2014, and the expiration dates thereof. Without limiting the generality of the foregoing, the audited consolidated statement of financial condition of Focus at December 31, 2014 included in the Financial Statements reflects a net deferred tax asset with a balance of $1,696,000, and such entries are true, accurate and correct as of such date and have been prepared by Focus in accordance with GAAP.
Loss Carryforwards. Notwithstanding anything to the contrary in this Agreement, the Company is not making, and shall not be construed to have made, any representation or warranty as to the amount or utilization of any net operating loss, tax credit, tax basis or other Tax attribute of the Company or any of its Subsidiaries. No representation or warranty is made in respect of Tax matters in any Section of this Agreement other than this Section 3.06.
Loss Carryforwards. All losses, loss carryforwards and rights to receive refunds, credits and loss carryforwards with respect to all taxes.
Loss Carryforwards. ProFound shall not take any action that would jeopardize or limit its right or ability to make use of, and will take all actions that are necessary or desirable to make full use of, the losses ProFound has incurred since its inception against its future income under Danish tax law.
Loss Carryforwards. Section 3.6(u) of MLB Disclosure Schedule sets forth a complete and correct list and description of any United States federal and state net operating and capital loss carryforwards for MLB (including any limitations of such net operating or capital loss carryforwards under Sections 382, 383 or 384 of the Code and related the Treasury Regulations), if any, as of December 31, 2014, and the expiration dates thereof. Without limiting the generality of the foregoing, the audited consolidated statement of financial condition of MLB at December 31, 2014 included in MLB Financial Statements reflects a net deferred tax asset with a balance of $-0-, and such entries are true, accurate and correct as of such date and have been prepared by MLB in accordance with GAAP.
Loss Carryforwards. It is understood and agreed by the parties hereto that BXI will retain all net operating loss carryforwards generated by BXI prior December 31, 1997, and that all net operating loss carryforwards of BEI generated by BEI will be retained by BEI.
Loss Carryforwards. Presidio does not have any United States federal and state net operating and capital loss carryforwards for Presidio (including any limitations of such net operating or capital loss carryforwards under Sections 382, 383 or 384 of the Code and related Treasury Regulations), as of December 31, 2018.
Loss Carryforwards. It is understood that none of the Company, the Seller and SCL has made any representation or warranty as to the effect of the transactions entered into in connection with this Agreement on the availability of the non-capital loss carryforwards of the Company or any of the Predecessors after the Closing. No amount shall be payable pursuant to the indemnity contained in Section 7.1 with respect to any breach of the representation and warranty contained in the second sentence of Section 5.27(b) as it relates to Canadian federal income taxes unless and until the non-capital loss carryforwards are $1 million less than the amounts reflected on the Tax Returns referred to therein.
Loss Carryforwards. Section 3.06(r) of the Tri-Valley Disclosure Schedule sets forth a complete and correct list, description and amount of any United States federal and state net operating and capital loss carryforwards for Tri-Valley (including any limitations of such net operating or capital loss carryforwards under Sections 382, 383 or 384 of the Code and related the Treasury Regulations), if any, as of December 31, 2016, and the expiration dates thereof. Without limiting the generality of the foregoing, the audited consolidated statement of financial condition of Tri-Valley at December 31, 2016 and at September 30, 2017 included in the Financial Statements reflects a net deferred tax asset with a balance of $3,648,980, and $6,359,133, respectively, and such entries are true, accurate and correct as of such date and have been prepared by Tri-Valley in accordance with GAAP.
