PAYMENTS FOR USE OF CREDITS Sample Clauses

PAYMENTS FOR USE OF CREDITS. As of the date of this Agreement, no Consolidated Minimum Tax Credits have been allocated to EOG or any EOG Entity by Enron based on Consolidated Returns of the Enron Group for the Pre-Deconsolidation Date Period. In the event Consolidated Minimum Tax Credits are allocated to EOG or any EOG Entity for any taxable year or period in the Pre-Deconsolidation Date Period, EOG shall make a good faith effort to utilize such Consolidated Minimum Tax Credits, and shall be obligated to reimburse Enron for the amount of such Consolidated Minimum Tax Credits so allocated to EOG upon the occurrence of the earlier of the following two events: (i) the date on which EOG files its federal income tax return for a taxable year in the Post-Deconsolidation Date Period in which EOG or any EOG Entity utilizes any such Consolidated Minimum Tax Credits; or (ii) the date on which the Tax liability of EOG or any EOG Entity is reduced by such Consolidated Minimum Tax Credits (if not on an original return) by reason of the receipt of a refund of Tax or the reduction in a payment of Tax otherwise required to be made by EOG or an EOG Entity. Any minimum tax credits generated by EOG in the Post-Deconsolidation Date Period shall be disregarded in making determinations pursuant to this Section 3.2. Payments by EOG to reimburse Enron shall be made for each taxable year in the Post-Deconsolidation Date Period upon the occurrence of either of the above events until the Consolidated Minimum Tax Credits allocated to EOG are used in their entirety. In the event the amount of the Consolidated Minimum Tax Credits allocated to EOG is adjusted, resulting in a reduction of Consolidated Minimum Tax Credits previously utilized by EOG, and a payment has been made by EOG to Enron pursuant to this Section 3.2, Enron shall be obligated to pay EOG for any assessment of Taxes made against it by the Internal Revenue Service attributable to such adjustment. Any such payment by Enron shall be made to EOG on the day EOG pays the Internal Revenue Service the amount of such assessment.
Sample 1
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Related to PAYMENTS FOR USE OF CREDITS

  • Use of Credit Neither the Borrower nor any of its Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of any extension of credit hereunder will be used to buy or carry any Margin Stock.

  • Online Payments Payments made online are made with an free consent after agreeing to the terms and conditions, All payments received online will be by default processed on agreeing with terms and condition, any disputes made afterwards will be null and void. All disputes will be in the jurisdictions of Hyderabad. This agreement is made on this the day, month and year first above mentioned and the parties to this deed have put their signatures at their free will and consent and after going through all the terms and conditions before the following: Amount Paid: 69620 Due Payment: 0.00 Due Date: NA Signature of Client / Applicant Signature of Consultant

  • Application of credit balances Each Creditor Party may without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

  • Conditions to Initial Extensions of Credit The agreement of each Lender to make the initial extension of credit requested to be made by it is subject to the satisfaction, immediately prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent:

  • Conditions to All Extensions of Credit The obligation of each Lender to make any Extension of Credit hereunder is subject to the satisfaction of the following conditions precedent on the date of making such Extension of Credit:

  • All Extensions of Credit The obligation of Lenders to make any Credit Extension hereunder (including the initial Credit Extension) is subject to the following additional conditions precedent:

  • Conditions to Each Extension of Credit The agreement of each Lender to make any extension of credit requested to be made by it on any date (including its initial extension of credit) is subject to the satisfaction of the following conditions precedent:

  • CONDITIONS OF EACH EXTENSION OF CREDIT The obligation of Bank to make each extension of credit requested by Borrower hereunder shall be subject to the fulfillment to Bank's satisfaction of each of the following conditions:

  • Use of Loan Proceeds The Borrower shall use the credit extended under this Agreement solely for the purposes set forth in, or otherwise permitted by, Section 6.4 hereof.

  • Conditions to Closing and Initial Extensions of Credit The obligation of the Lenders to close this Agreement and to make the initial Loan or issue or participate in the initial Letter of Credit, if any, is subject to the satisfaction of each of the following conditions:

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