Tax Law Changes. Any alteration, modification, addition, deletion, or other change in the Code or the Income Tax Regulations (or the applicable state and local tax provisions) will automatically be applicable to this Agreement when changed.
Tax Law Changes. If the Internal Revenue Code is amended during the Plan Year and, as a result of such amendment(s), the effective tax rate applicable to the earnings of the Company (as described in the Income Taxes footnote to the financial statements contained in the Company’s annual report to the Securities and Exchange Commission on Form 10-K for the Plan Year) changes during the year, the calculation of the relevant Table B percentages for such Plan Year (the “Rate Change Year”) shall be made as if such rate change had not occurred during the Rate Change Year. In determining the Increase in Earnings Per Share for the Company in the year following the Rate Change Year, the calculation shall be made after taking into account such rate change.
Tax Law Changes. If the Internal Revenue Code is amended during the fiscal year and, as a result of such amendment(s), the effective tax rate applicable to the earnings of the Company (as described in the “Summary of Accounting Policies” section of the Company’s annual report to the Securities and Exchange Commission on Form 10-K) changes during the year, the calculation of the net after-tax earnings per share of the Company for the Plan Year shall be made as if such rate change had not occurred during the Plan Year.
Tax Law Changes. If the Internal Revenue Code is amended during the Plan Year and, as a result of such amendment(s), the effective tax rate applicable to the earnings of the Company (as described in the Income Taxes footnote to the financial statements contained in the Company’s annual report to the Securities and Exchange Commission on Form 10-K for the Plan Year) changes during the year, the calculation of Table B Percentage for such Plan Year (the “Rate Change Year”) shall be made as if such rate change had not occurred during the Rate Change Year. In determining the Increase in Earnings Per Share for the Company in the year following the Rate Change Year, the calculation shall be made after taking into account such rate change. In determining the 3-Year Average Return on Capital for the Company in the year following the Rate Change Year, the calculation shall be made as if such rate change were in effect for the entire calculation period.
Tax Law Changes. If the Manager determines in good faith that there has been a change in international, U.S. federal, state or local tax law that is adverse to the Manager (or to the direct or indirect owners of the Manager), then the Manager may, with the approval of at least 66-2/3% in Interest, cause a restructuring of CF LLC and/or of the Co-Investment in a manner which the Manager intends to mitigate the adverse impact of such change on the Manager and its direct and indirect owners while preserving the overall intended relative economic arrangements among the Members contemplated by this Agreement; provided, however, that no such restructuring which would adversely affect any Member or Fund LP shall be made without the consent of such Member or such Fund LP, as applicable.
Tax Law Changes. Any alteration, modification, addition, deletion, or other change in the consolidated income tax return provisions of the IRC or the Treasury Regulations thereunder shall automatically be applicable to this Agreement mutatis mutandis.
Tax Law Changes. If the Code is amended during a Fiscal Year and, as a result of such amendment(s), the effective tax rate applicable to the earnings of the Company (as described in the “Summary of Accounting Policies” section of the Company’s annual report to the Securities and Exchange Commission on Form 10-K) changes during a Fiscal Year, the calculation of the EPS of the Company for the Fiscal Year in which such rate change becomes effective (the “Rate Change Year”) shall be made as if such rate change had not occurred during the Rate Change Year. For the Fiscal Year following the Rate Change Year, the calculation of the EPS of the Company shall be made after taking into account such rate change, and shall be compared, for purposes of computing the appropriate change in EPS for such Fiscal Year, with the EPS of the Company for the Rate Change Year, computed after taking into account such rate change.
Tax Law Changes. There shall not have been a change in U.S. Federal income tax law from that law in effect as of the date of this Agreement that increases the U.S. federal income tax liability of Seller or the Shareholders by five percent or more as a result of the sale of the Assets, including from (i) an increase in the income, gain or recapture of tax credits that is reported or required to be taken into account in any taxable period or portions thereof; (ii) an increase in the effective tax rate in any taxable period or portions thereof; or (iii) a decrease in the deductions, losses or tax credits that otherwise could have been reported or taken into account in any taxable period or portions thereof.
Tax Law Changes. To the extent any changes to the Code or regulations thereunder following the Effective Date result, or could result, in the accelerated taxation to Executive of any nonqualified deferred compensation or equity based compensation, then the Parties shall use commercially reasonably efforts to amend or supplement the terms of this Agreement as may be necessary or appropriate to preserve the economic benefit of the compensation arrangements, which may, in the sole discretion of the Company, include payment to Executive of a portion of the nonqualified deferred compensation or settling the equity based compensation at the time such compensation is required to be taken into income, with the portion paid or provided to Executive being sufficient to provide Executive with the funds needed to pay the tax liability when due. Notwithstanding the previous sentence, nothing in this Section 7.3 shall (i) be construed as a representation by the Company of the future tax treatment of any nonqualified deferred compensation or equity based compensation arrangements, (ii) create an obligation of the Company to accelerate any payments, benefits, or vestings if such acceleration would subject the Company to foregone deductions or penalties, or (iii) create an obligation of the Company to provide any gross-up or indemnity payment to Executive.
Tax Law Changes. Due to the adoption of, or any change in, any applicable tax law after the date on which a Transaction is entered into, or due to the promulgation of, or any change in, the interpretation by any court, tribunal or regulatory authority with competent jurisdiction of any applicable tax law after such date, such tax law change or interpretation has a material effect on the amount of tax owed on any Transaction.
