Tax Credit Compliance Guaranty Sample Clauses

Tax Credit Compliance Guaranty. (i) Wichita GP irrevocably and unconditionally guarantees that if there is a Tax Credit Shortfall for any Fiscal Year, then on the first Payment Date following such Fiscal Year Wichita GP shall pay to AHF the sum of the following amounts: (A) the amount of the Tax Credit Shortfall for the Fiscal Year immediately preceding the Payment Date, (B) all penalties and interest imposed by the Code and assessed against AHF by the IRS with respect to any Tax Credit Shortfall, (C) an amount sufficient to pay any tax liability owed by AHF resulting from the receipt of the amounts specified in the foregoing clauses (A), (B) and this clause (C) (such calculation to be made assuming AHF is subject to the highest federal and California state rate imposed on corporate taxpayers under the Code and applicable state law for the taxable year of AHF in which such payment is taken into income by AHF), and (D) all reasonable legal and accounting costs incurred by AHF due to the Tax Credit Shortfall together with interest on such amounts at the AFR accruing from such Payment Date, compounded annually.
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Related to Tax Credit Compliance Guaranty

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