Tax Refund Payment Clause Samples
Tax Refund Payment. The Buyer must, within 5 Business Days after any Tax Refund Amount has been paid or credited to the Buyer or a Buyer Group Company, pay an amount equal to the Tax Refund Amount by electronic funds transfer to the account of the Seller nominated by the Seller for this purpose.
Tax Refund Payment. No later than the next Business Day after the date on which the Administrative Borrower receives payment of the Tax Refund Amount, the Administrative Borrower shall apply $100,000,000 of the proceeds it receives from the Tax Refund Amount to prepay the outstanding principal amount of the Loans, such prepayment to be applied in accordance with Section 2.7(c)(ii). If such prepayment is made after the Roll-Up Date, then the Revolving Credit Commitments shall be permanently reduced by the amount to be applied to the prepayment of Revolving Loans pursuant to Section 2.7(c)(ii)(B) even if such amount exceeds the then outstanding amount of Revolving Loans, with such reduction being made pro rata among the Lenders with a Revolving Credit Commitment.
Tax Refund Payment