Common use of Timing of Gross-Up Payment Clause in Contracts

Timing of Gross-Up Payment. Subject to the foregoing provisions of this Section 4.5 that may require earlier payment, any Gross-Up Payment shall be paid to or for the benefit of Employee by December 31 of the calendar year following the calendar year in which the Excise Tax is remitted, or, if no Excise Tax is remitted, by December 31 of the calendar year following the calendar year in which there is a final and nonappealable settlement or other resolution of an audit or litigation relating to the Excise Tax.

Timing of Gross-Up Payment. Subject to the foregoing provisions of this Section 4.5 5.5 that may require earlier payment, any Gross-Up Payment shall be paid to or for the benefit of Employee Executive by December 31 of the calendar year following the calendar year in which the Excise Tax is remitted, or, if no Excise Tax is remitted, by December 31 of the calendar year following the calendar year in which there is a final and nonappealable settlement or other resolution of an audit or litigation relating to the Excise Tax.

Timing of Gross-Up Payment. Subject to the foregoing provisions of this Section 4.5 2.10 that may require earlier payment, any Gross-Up Payment shall be paid to or for the benefit of Employee Executive by December 31 of the calendar year following the calendar year in which the Excise Tax is remitted, remitted or, if no Excise Tax is remitted, by December 31 of the calendar year following the calendar year in which there is a final and nonappealable settlement or other resolution of an audit or litigation relating to the Excise Tax.