Common use of Payments for Tax Benefits Clause in Contracts

Payments for Tax Benefits. (i) If a member of the X. Xxx Group uses a Tax Benefit for which BHI is entitled to reimbursement pursuant to Section 2.1(b)(ii), X. Xxx U.S. shall pay to BHI, within 30 Business Days following the use of such Tax Benefit, an amount equal to the deemed value of such Tax Benefit, as determined in Section 4.2(b)(iv). (ii) If a member of the B&W Group uses a Tax Benefit for which X. Xxx U.S. is entitled to reimbursement pursuant to Section 2.1(a)(ii), BHI shall pay to X. Xxx U.S., within 30 Business Days following the use of such Tax Benefit, an amount equal to the deemed value of such Tax Benefit, as determined in Section 4.2(b)(iv). (iii) For purposes of this Agreement, a Tax Benefit (other than a Tax refund) will be considered used (A) in the case of a Tax Benefit that generates a Tax refund, at the time such Tax refund is received and (B) in all other cases, at the time the Tax Return is filed with respect to such Tax Benefit or, if no Tax Return is filed, at the time the Tax would have been due in the absence of such Tax Benefit. (iv) The deemed value of any such Tax Benefit will be (A) in the case of a Tax credit, the amount of such credit or (B) in the case of a Tax deduction, an amount equal to the product of (1) the amount of such deduction and (2) the highest statutory rate applicable under Section 11 of the Code or other applicable rate under state, local or foreign law, as appropriate.

Payments for Tax Benefits. (i) If a member of the X. Xxx Noble Group uses a Tax Benefit for which BHI Paragon is entitled to reimbursement pursuant to ‎Section 2.1(b) or Section 2.1(b)(ii2.5(b), X. Xxx U.S. Noble shall pay to BHIParagon, within 30 Business Days following the use of such Tax Benefit, an amount equal to the deemed value of such Tax Benefit, as determined in Section 4.2(b)(iv‎Section 4.2(d)(iv). (ii) If a member of the B&W Paragon Group uses a Tax Benefit for which X. Xxx U.S. Noble is entitled to reimbursement pursuant to ‎Section 2.2(b) or Section 2.1(a)(ii2.5(b), BHI Paragon shall pay to X. Xxx U.S.Noble, within 30 Business Days following the use of such Tax Benefit, an amount equal to the deemed value of such Tax Benefit, as determined in Section 4.2(b)(iv‎Section 4.2(d)(iv). (iii) For purposes of this Agreement, a Tax Benefit (other than a Tax refund) will be considered used (A) in the case of a Tax Benefit that generates a Tax refund, at the time such Tax refund is received and (B) in all other cases, at the time the Tax Return is filed with respect to such Tax Benefit or, if no Tax Return is filed, at the time the Tax would have been due in the absence of such Tax Benefit. (iv) The deemed value of any such Tax Benefit will be (A) in the case of a Tax credit, the amount of such credit or (B) in the case of a Tax deduction, an amount equal to the product of (1) the amount of such deduction and (2) the highest statutory rate applicable under Section 11 of the Code or other applicable rate under state, local or foreign law, as appropriate.

Payments for Tax Benefits. (i) If a member of the X. Xxx Noble Group uses a Tax Benefit for which BHI Paragon is entitled to reimbursement pursuant to Section 2.1(b)(ii2.1(b) or Section 2.5(b), X. Xxx U.S. Noble shall pay to BHIParagon, within 30 Business Days following the use of such Tax Benefit, an amount equal to the deemed value of such Tax Benefit, as determined in Section 4.2(b)(iv4.2(d)(iv). (ii) If a member of the B&W Paragon Group uses a Tax Benefit for which X. Xxx U.S. Noble is entitled to reimbursement pursuant to Section 2.1(a)(ii2.2(b) or Section 2.5(b), BHI Paragon shall pay to X. Xxx U.S.Noble, within 30 Business Days following the use of such Tax Benefit, an amount equal to the deemed value of such Tax Benefit, as determined in Section 4.2(b)(iv4.2(d)(iv). (iii) For purposes of this Agreement, a Tax Benefit (other than a Tax refund) will be considered used (A) in the case of a Tax Benefit that generates a Tax refund, at the time such Tax refund is received and (B) in all other cases, at the time the Tax Return is filed with respect to such Tax Benefit or, if no Tax Return is filed, at the time the Tax would have been due in the absence of such Tax Benefit. (iv) The deemed value of any such Tax Benefit will be (A) in the case of a Tax credit, the amount of such credit or (B) in the case of a Tax deduction, an amount equal to the product of (1) the amount of such deduction and (2) the highest statutory rate applicable under Section 11 of the Code or other applicable rate under state, local or foreign law, as appropriate.