Common use of Scheduled Termination Clause in Contracts

Scheduled Termination. No Tax Benefit Payment shall accrue, or shall become due or payable with respect to any Exchange, after the 40th anniversary (the “Scheduled Termination Date”) of the effective date of such Exchange. For avoidance of doubt, this Agreement shall continue to be in effect in periods after the Scheduled Termination Date with respect to Tax Benefit Payments that arise on or before such date, or any adjustment thereto, and shall terminate upon such time as all Tax Benefit Payments due and payable hereunder have been paid and the Determinations have been made with respect to all such payments.

Appears in 6 contracts

Samples: Tax Receivable Agreement (Indie Semiconductor, Inc.), Tax Receivable Agreement (Thunder Bridge Acquisition II, LTD), Tax Receivable Agreement

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Scheduled Termination. No Tax Benefit Payment shall accrue, or shall become due or payable with respect to any Exchange, Exchange after the 40th sixtieth anniversary (the “Scheduled Termination Date”) of the effective date of such Exchange. For avoidance of doubt, this Agreement shall continue to be in effect in periods after the Scheduled Termination Date with respect to Tax Benefit Payments that arise on or before such date, or any adjustment thereto, and shall terminate upon such time as when all Tax Benefit Payments Payment due and payable hereunder have been paid and the Determinations have been made with respect to all such payments.

Appears in 2 contracts

Samples: Tax Receivable Agreement (Silvercrest Asset Management Group Inc.), Tax Receivable Agreement (Silvercrest Asset Management Group Inc.)

Scheduled Termination. No Tax Benefit Payment shall accrue, or shall become due or payable with respect to any Exchange, Exchange after the 40th sixtieth (60th) anniversary (the “Scheduled Termination Date”) of the effective date of such Exchange. For avoidance of doubt, this Agreement shall continue to be in effect in periods after the Scheduled Termination Date with respect to Tax Benefit Payments that arise on or before such date, or any adjustment thereto, and shall terminate upon such time as when all Tax Benefit Payments due and payable hereunder have been paid and the Determinations have been made with respect to all such payments.

Appears in 2 contracts

Samples: Tax Receivable Agreement (ZAIS Group Holdings, Inc.), Investment Agreement (Hf2 Financial Management Inc.)

Scheduled Termination. No Tax Benefit Payment shall accrue, or shall become due or payable with respect to any Exchange, Exchange after the 40th sixtieth anniversary (the “Scheduled Termination Date”) of the effective date of such Exchange. For avoidance of doubt, this Agreement shall continue to be in effect in periods after the Scheduled Termination Date with respect to Tax Benefit Payments that arise on or before such date, or any adjustment thereto, and shall terminate upon such time as when all Tax Benefit Payments Payment due and payable hereunder have been paid and the Determinations have been made with respect to all such payments.

Appears in 2 contracts

Samples: Tax Receivable Agreement (Manning & Napier, Inc.), Tax Receivable Agreement (Manning & Napier, Inc.)

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Scheduled Termination. No Tax Benefit Payment shall accrue, or shall become due or payable with respect to any Exchange, Exchange after the 40th anniversary (the “Scheduled Termination Date”) of the effective date of such Exchange. For avoidance of doubt, this Agreement TRA shall continue to be in effect in periods after the Scheduled Termination Date with respect to Tax Benefit Payments that arise on or before such date, or any adjustment thereto, and shall terminate upon such time as when all Tax Benefit Payments due and payable hereunder have been paid and the Determinations have been made with respect to all such payments.

Appears in 1 contract

Samples: Tax Receivable Agreement (Purple Innovation, Inc.)

Scheduled Termination. No Tax Benefit Payment shall accrue, or shall become due or payable with respect to any Exchange, Exchange after the 40th sixtieth (60th) anniversary (the “Scheduled Termination Date”) of the effective date of such Exchange. For avoidance of doubt, this Agreement TRA shall continue to be in effect in periods after the Scheduled Termination Date with respect to Tax Benefit Payments that arise on or before such date, or any adjustment thereto, and shall terminate upon such time as when all Tax Benefit Payments due and payable hereunder have been paid and the Determinations have been made with respect to all such payments.

Appears in 1 contract

Samples: Merger Agreement (Global Partner Acquisition Corp.)

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