Lump Sum Tax Benefit Amount Sample Clauses

Lump Sum Tax Benefit Amount. Buyer, Xxxxxxx and other members of the Buyer Group shall, on the Lump Sum Payment Date, pay Resources the present value of 90% of all the Tax Benefits with respect to all Taxable Periods ending after the Lump Sum Record Date (the "Lump Sum Tax Benefit Amount"). The Lump Sum Tax Benefit Amount shall be calculated by projecting future Tax Benefits (which shall take into account adjustments to the Tax Benefit Base Amount as a result of the payment of the Lump Sum Tax Benefit Amount) using all relevant data, business plans, engineering and geological studies, tax rates and other provisions of the tax law in effect (and giving effect to any changes thereto for the Taxable Periods such changes are scheduled to become effective) and by assuming that each of Buyer, Xxxxxxx and other members of the Buyer Group have income or gain in all relevant Taxable Periods in excess of all available depreciation, amortization, losses and other deductions, thereby maximizing the Tax Benefits for each such Taxable Period. In determining the present value of the future projected Tax Benefits amount, (i) the projected Tax Benefits for all Taxable Periods ending on or before the fourth anniversary of the Lump Sum Record Date shall be discounted using the short-term applicable federal rate (compounding annually) effective on the Lump Sum Payment Date as published by the Internal Revenue Service under Section 1274(d) of the Code, (ii) the projected Tax Benefits for all Taxable Periods ending after the fourth anniversary and on or before the tenth anniversary of the Lump Sum Record Date shall be discounted using the mid-term applicable federal rate (compounding annually) effective on the Lump Sum Payment Date as published by the Internal Revenue Service under Section 1274(d) of the Code, and (iii) the projected Tax Benefits for all Taxable Periods ending after the tenth anniversary of the Lump Sum Record Date shall be discounted using the long-term applicable federal rate (compounding annually) effective on the Lump Sum Payment Date as published by the Internal Revenue Service under Section 1274(d) of the Code. For purposes of computing the discounted Tax Benefits for each Taxable Period, such Tax Benefits shall be assumed to be earned ratably throughout the year and shall be discounted to the Lump Sum Payment Date. Buyer, Xxxxxxx and Xxxxxxx Subs' payment of the Lump Sum Tax Benefit Amount pursuant to this Section 8.6 shall relieve the obligation of Buyer, Xxxxxxx and other members ...
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Related to Lump Sum Tax Benefit Amount

  • Tax Benefit Payments Section 3.1 Payments 12 Section 3.2 No Duplicative Payments 13

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  • Tax Benefit Schedule Within one hundred fifty (150) calendar days after the filing of the U.S. federal income Tax Return of the Corporation for any Taxable Year in which there is a Realized Tax Benefit or Realized Tax Detriment, the Corporation shall provide to the Members a schedule showing, in reasonable detail, the calculation of the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year (a “Tax Benefit Schedule”). The Tax Benefit Schedule will become final and binding on the Parties pursuant to the procedures set forth in Section 2.4(a), and may be amended by the Parties pursuant to the procedures set forth in Section 2.4(b).

  • Tax Gross-Up Amount Developer’s liability for the cost consequences of any current tax liability under this Article 5.17 shall be calculated on a fully grossed-up basis. Except as may otherwise be agreed to by the parties, this means that Developer will pay Connecting Transmission Owner, in addition to the amount paid for the Attachment Facilities and System Upgrade Facilities and System Deliverability Upgrades, an amount equal to (1) the current taxes imposed on Connecting Transmission Owner (“Current Taxes”) on the excess of (a) the gross income realized by Connecting Transmission Owner as a result of payments or property transfers made by Developer to Connecting Transmission Owner under this Agreement (without regard to any payments under this Article 5.17) (the “Gross Income Amount”) over (b) the present value of future tax deductions for depreciation that will be available as a result of such payments or property transfers (the “Present Value Depreciation Amount”), plus (2) an additional amount sufficient to permit the Connecting Transmission Owner to receive and retain, after the payment of all Current Taxes, an amount equal to the net amount described in clause (1). For this purpose, (i) Current Taxes shall be computed based on Connecting Transmission Owner’s composite federal and state tax rates at the time the payments or property transfers are received and Connecting Transmission Owner will be treated as being subject to tax at the highest marginal rates in effect at that time (the “Current Tax Rate”), and (ii) the Present Value Depreciation Amount shall be computed by discounting Connecting Transmission Owner’s anticipated tax depreciation deductions as a result of such payments or property transfers by Connecting Transmission Owner’s current weighted average cost of capital. Thus, the formula for calculating Developer’s liability to Connecting Transmission Owner pursuant to this Article

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  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04. PART I. [OPTIONS (a) THROUGH (d)].

  • Gross Income Allocation If any Partner has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of (i) the amount such Partner is obligated to restore, if any, pursuant to any provision of this Agreement, and (ii) the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Partner shall be specially allocated items of Partnership income and gain in the amount of such excess as quickly as possible; provided that an allocation pursuant to this Section 5.05(c) shall be made only if and to the extent that a Partner would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article V have been tentatively made as if Section 5.05(b) and this Section 5.05(c) were not in this Agreement.

  • Determination of Realized Tax Benefit Section 2.1. Basis Adjustments and Section 704(c) Allocations; The LLC 754 Election.

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