Common use of Redetermination Clause in Contracts

Redetermination. If, pursuant to regulations issued under Section 280G or 4999 of the Code, NMHC and the Executive were required to make a preliminary determination of the amount of an excess parachute payment and thereafter a redetermination of the Excise Tax is required under the applicable regulations, the parties shall request the Accounting Firm to make such redetermination. If as a result of such redetermination an additional Gross-Up Payment is required, the amount thereof, together with interest at the rate provided in section 1274(b)(2)(B) of the Code, shall be paid by NMHC to the Executive at the time provided in Section 3.3.

Redetermination. If, pursuant to regulations issued under Section 280G or 4999 of the Code, NMHC and the Executive were required to make a preliminary determination of the amount of an excess parachute payment and thereafter a redetermination of the Excise Tax is required under the applicable regulations, the parties shall request the Accounting Firm to make such redetermination. If as a result of such redetermination an additional Gross-Up Payment is required, the amount thereof, together with interest at the rate provided in section 1274(b)(2)(B) of the Code, shall be paid by NMHC to the Executive at the time provided in Section 3.33.3.4.