TAX AMOUNT ADJUSTMENTS Sample Clauses

TAX AMOUNT ADJUSTMENTS. On or prior to April 15 of each year, (i) if the actual Tax Amount for the preceding year is less than the estimated Tax Amount subtracted from the amount of the applicable Distributions pursuant to Paragraphs 2(a) and/or 2(d)(iii) above during the preceding year, ICN and the Shareholders shall certify to the Purchaser the amount of such difference (and attach to such certification a copy of ICN's Form 1120S and Schedule K thereto for such year) and shall deposit the amount of such difference into the Escrow Account, and (ii) if the actual Tax Amount for the preceding year is greater than the estimated Tax Amount subtracted from the amount of the applicable Distributions pursuant to Paragraphs 2(a) and/or 2(d)(iii) above during the preceding year, ICN and the Shareholders may certify to the Purchaser and the Escrow Agent the amount of such difference (and attach to such certification to the Purchaser a copy of ICN's Form 1120S and Schedule K thereto for such year) and direct the Escrow Agent to release to ICN the amount of such difference.
Sample 1
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TAX AMOUNT ADJUSTMENTS. On or prior to April 15 of each year, (i) if the actual Tax Amount for the preceding year is less than the estimated Tax Amount subtracted from the amount of the applicable Distributions pursuant to Paragraphs 1 and/or 5(c) above during the preceding year, ICN and the Shareholders shall certify to the Purchaser the amount of such difference (and attach to such certification a copy of ICN's Form 1120S and Schedule K thereto for such year) and shall deposit the amount of such difference into the Escrow Account, and (ii) if the actual Tax Amount for the preceding year is greater than the estimated Tax Amount subtracted from the amount of the applicable Distributions pursuant to Paragraphs 1 and/or 5(c) above during the preceding year, ICN and the Shareholders may certify to the Purchaser and the Escrow Agent the amount of such difference (and attach to such certification to the Purchaser a copy of ICN's Form 1120S and Schedule K thereto for such year) and direct the Escrow Agent to release to ICN the amount of such difference. Upon receipt of such certification and direction from ICN and the Shareholders, the Escrow Agent shall release such amount to ICN.
Sample 1

Related to TAX AMOUNT ADJUSTMENTS

  • Tax Adjustments The Company may make such reductions in the Purchase Price, in addition to those required by Sections 3, 4, 5, 6, 7 and 8, as the Board of Directors considers to be advisable to avoid or diminish any income tax to holders of Common Stock or rights to purchase Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for income tax purposes.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Tax Adjustment During each Lease Year commencing with the Lease -------------- Year 1998, Tenant shall pay, as Additional Charges, an amount (hereinafter referred to as the "TAX ADJUSTMENT AMOUNT") equal to Tenant's Share of the excess of Taxes for each such Lease Year over the amount of Taxes for the Base Year; except that Tenant shall be required to pay only a pro rata amount of the Tax Adjustment Amount for the Lease Year in which the last days of the Term occur, pro rated on a per diem basis. The Tax Adjustment Amount with respect to each Lease Year shall be paid in monthly installments in advance on the first day of each and every calendar month during such Lease Year, commencing January 1, 1998, in an amount estimated from time to time by Landlord and communicated by written notice to Tenant. As soon as practicable following the close of the 1998 and subsequent Lease Years, and receipt of actual tax bills, Landlord shall deliver to Tenant a statement setting forth (a) the actual Tax Adjustment Amount for such Lease Year; (b) the total of the estimated monthly installments of the Tax Adjustment Amount paid to Landlord for such Lease Year; and (c) the amount of any excess or deficiency with respect to such Lease Year. Tenant shall pay any deficiency to Landlord as shown by such statement within thirty (30) days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Lease Year exceeds the actual Tax Adjustment Amount due from Tenant for such Lease Year, at Landlord's option such excess shall be either credited against payments next due hereunder or refunded by Landlord, provided Tenant is not then in default hereunder.

  • Special Basis Adjustments In connection with any assignment or transfer of a Partnership interest permitted by the terms of this Agreement, the General Partner may cause the Partnership, on behalf of the Partners and at the time and in the manner provided in Treasury Regulations Section 1.754-1(b), to make an election to adjust the basis of the Partnership’s property in the manner provided in Sections 734(b) and 743(b) of the Code. ARTICLE VII CAPITAL COMMITMENT INTERESTS; CAPITAL CONTRIBUTIONS; ALLOCATIONS; DISTRIBUTIONS

  • Subsequent Adjustments In the event that the Assuming Institution or the Receiver discovers any errors or omissions as contemplated by Section 8.2 or any error with respect to the payment made under Section 8.3 after the Settlement Date, the Assuming Institution and the Receiver agree to promptly correct any such errors or omissions, make any payments and effect any transfers or assumptions as may be necessary to reflect any such correction plus interest as provided in Section 8.4.

  • Purchase Price Credit Adjustments If on any day:

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.

  • Payment and Year-End Adjustment Amounts accrued pursuant to this Agreement shall be payable to the Adviser as of the last day of each month. If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.

  • Pricing Adjustments a. In the event an adjustment is made to the computation of the net asset value of Fund shares as reported to Insurance Company under paragraph 7, (1) the correction will be handled in a manner consistent with SEC guidelines and the Investment Company Act of 1940, as amended and (2) the Funds or Transfer Agent shall notify Insurance Company as soon as practicable after discovering the need for any such adjustment. Notification may be made in the following manner: Method of Communication

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