Other Patronage Refunds Sample Clauses

Other Patronage Refunds. Except as provided in Section 4.9.1, Member consents to include in the Member’s gross income for federal income tax purposes the stated dollar amount of any qualified written notice of allocation and qualified notice of Per Unit Retain (as defined in §1388 of the Code) received from the Association with respect to Patronage Transactions (as defined in Section I of the Co-op’s Bylaws and subsequent Board policy), to the extent required in §1385 of the Code. (Signature of Member Applicant) This Membership Agreement is accepted by the Co-op. Date: By: Date Its: 1. Official Member Contact Information City: State: Zip: Phone: ( ) Email: 2. Authorization of Electronic Communication Admin: Revision? ⃞ Date: Owner #:
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Other Patronage Refunds. Except as provided in Section 4.9.1, Member consents to include in the Member’s gross income for federal income tax purposes the stated dollar amount of any qualified written notice of allocation and qualified notice of Per Unit Retain (as defined in §1388 of the Code) received from the Association with
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Related to Other Patronage Refunds

  • Developer Payments Not Taxable The Developer and Connecting Transmission Owner intend that all payments or property transfers made by Developer to Connecting Transmission Owner for the installation of the Connecting Transmission Owner’s Attachment Facilities and the System Upgrade Facilities and the System Deliverability Upgrades shall be non-taxable, either as contributions to capital, or as an advance, in accordance with the Internal Revenue Code and any applicable state income tax laws and shall not be taxable as contributions in aid of construction or otherwise under the Internal Revenue Code and any applicable state income tax laws.

  • Refunds If Agent or a Lender determines, in its sole discretion, that it has received a refund of any Indemnified Taxes to which the Loan Parties have paid additional amounts pursuant to this Section 16, so long as no Default or Event of Default has occurred and is continuing, it shall pay over such refund to the Administrative Borrower on behalf of the Loan Parties (but only to the extent of payments made, or additional amounts paid, by the Loan Parties under this Section 16 with respect to Indemnified Taxes giving rise to such a refund), net of all out-of-pocket expenses of Agent or such Lender and without interest (other than any interest paid by the applicable Governmental Authority with respect to such a refund); provided, that the Loan Parties, upon the request of Agent or such Lender, agrees to repay the amount paid over to the Loan Parties (plus any penalties, interest or other charges, imposed by the applicable Governmental Authority, other than such penalties, interest or other charges imposed as a result of the willful misconduct or gross negligence of Agent or Lender hereunder as finally determined by a court of competent jurisdiction) to Agent or such Lender in the event Agent or such Lender is required to repay such refund to such Governmental Authority. Notwithstanding anything in this Agreement to the contrary, this Section 16 shall not be construed to require Agent or any Lender to make available its tax returns (or any other information which it deems confidential) to Loan Parties or any other Person or require Agent or any Lender to pay any amount to an indemnifying party pursuant to Section 16.4, the payment of which would place Agent or such Lender (or their Affiliates) in a less favorable net after-Tax position than such Person would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid.

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