Trading Losses Clause Samples

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Trading Losses. There has been no major change in the nature or conduct of a trade by a Group Company which would cause the disallowance of the carry forward of losses available to a Group Company under sections 673 to 676 or sections 677 to 692 of the CTA 2010 and no claim under the provisions of section 37 of the CTA 2010 (as extended by section 39 of the CTA 2010) has been made for carry back of any losses.
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Trading Losses. For the avoidance of doubt, in no circumstances will we or any other Protected Person be liable or responsible to you for any losses you may incur or suffer as a result of entering into such Transactions.
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Trading Losses. For the avoidance of doubt, in no circumstances shall XNT be liable to you, or responsible, for any trading losses or costs or expenses of any kind arising out of or in connection with the placement of Orders, or the entering into Contracts or Transactions by you, the carrying out of any Transactions or the holding of Instruments in accordance with this Agreement.
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Trading Losses. For the avoidance of doubt, in no circumstances shall EXT be liable to you, or responsible, for any trading losses or costs or expenses of any kind arising out of or in connection with the placement of Orders, or the entering into Contracts or Transactions by you, the carrying out of any Transactions or the holding of Instruments in accordance with this Agreement.
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Trading Losses. 9.13.1 There are no trading losses brought forward at the Accounting Date. 9.13.2 Any losses to which the Company claims entitlement in accordance with the provisions of Sections 338 (allowance of charges on income) and 393(9) (certain charges treated as losses) Taxes Act are in respect of payments made wholly and exclusively for the purpose of the trade of the Company. 9.13.3 Within the period of three years ended with the date hereof there has been no major change in the nature or conduct of any trade now carried on by the Company or change of ownership of the Company (within the meaning of Section 768 Taxes Act (disallowance of trading losses)) and the Company has not during that period taken over or acquired a trade or part of a trade hitherto carried on by some other person. 9.13.4 No trade of the Company has ceased or become small or negligible. 9.13.5 No government investment in the Company has been written-off in circumstances such that Section 48 Finance Act 1981 or Section 400 ▇▇▇▇s Act (restriction of tax losses) will apply.
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Trading Losses. (i) All trading losses of Poly-Flex UK in respect of any and all periods ended on or before Closing ("Relevant Periods") which were not taken into account as an asset in arriving at the Combined Net Asset Value shall, if required by Parent, to the extent that surrender of such losses is permitted under Chapter IV Part X Income and Corporation Taxes Act 1988 ("ICTA"), be surrendered to Parent and/or to such other eligible claimant companies as Parent may require, in consideration for the payment by Parent and/or such other eligible claimant companies of a sum equal to the amount of corporation tax from which the company that is the claimant company in respect of such surrender has been relieved by virtue of that surrender being made PROVIDED THAT the provisions of this Section 12.2(b)(i) shall not have effect if and to the extent that payment in respect of such surrender has been made on the basis specified in the foregoing provisions of this Section 12.2(b)(i) on or before the date of this Agreement. Where the Seller and/or such other claimant has made a payment pursuant to this Section 12.2(i) to Poly-Flex UK in respect of a surrender of losses, the Buyer shall pay to the Seller an additional amount (by way of an adjustment to the Purchase Price for the UK Shares) equal to the sum paid by the Seller (or other claimant) to Poly-Flex UK in respect of such surrender PROVIDED THAT the Buyer shall not be required to pay any such additional amount to the Seller if the payment for the surrender has been taken into account in computing the Combined Net Asset Value. (ii) Any sum payable under Section 12.2(b)(i) shall be paid on the date on which any corporation tax chargeable on the taxable profits of the company that is the claimant company in respect of the surrender in question for the accounting period of its to which that surrender relates becomes due and payable (or would have become due and payable had the claimant company incurred any liability to corporation tax in respect of that accounting period). (iii) In the event that any payment is made in accordance with the foregoing provisions of this Section 12.2(b) in respect of any surrender of losses made under Section 12.2(b)(i) and corporation tax falls nevertheless to be charged in respect of the taxable profits that the relevant surrender was intended to relieve from such tax (whether as a result of the Inland Revenue refusing to allow relief for the losses or subsequently withdrawing relief for the loss...
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Related to Trading Losses

  • Funding Losses The Borrower agrees to indemnify each Lender, promptly after receipt of a written request therefor, and to hold each Lender harmless from, any loss or expense that such Lender may sustain or incur as a consequence of (a) default by the Borrower in making a borrowing of, conversion into or continuation of Eurocurrency Loans after the Borrower has given a notice (including a written or verbal notice that is subsequently revoked) requesting the same in accordance with the provisions of this Agreement, (b) default by the Borrower in making any prepayment of or conversion from Eurocurrency Loans after the Borrower has given a notice (including a written or verbal notice that is subsequently revoked) thereof in accordance with the provisions of this Agreement, (c) the making of a prepayment of a Eurocurrency Loan on a day that is not the last day of an Interest Period applicable thereto, (d) any conversion of a Eurocurrency Loan to a Base Rate Loan on a day that is not the last day of an Interest Period applicable thereto, or (e) any compulsory assignment of such Lender’s interests, rights and obligations under this Agreement pursuant to Section 11.3(c) or 11.12 hereof. Such indemnification shall be in an amount equal to the excess, if any, of (i) the amount of interest that would have accrued on the amounts so prepaid, or not so borrowed, converted or continued, for the period from the date of such prepayment or of such failure to borrow, convert or continue to the last day of such Interest Period (or, in the case of a failure to borrow, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the applicable rate of interest for such Loans provided for herein over (ii) the amount of interest (as reasonably determined by such Lender) that would have accrued to such Lender on such amount by placing such amount on deposit for a comparable period with leading banks in the appropriate London interbank market, along with any administration fee charged by such Lender. A certificate as to any amounts payable pursuant to this Section 3.3 submitted to the Borrower (with a copy to the Administrative Agent) by any Lender together with a reasonably detailed calculation and description of such amounts, shall be conclusive absent manifest error. The obligations of the Borrower pursuant to this Section 3.3 shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder.

  • Funding Losses, Etc All prepayments under this Section 2.05 shall be made together with, in the case of any such prepayment of a Eurocurrency Rate Loan on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Eurocurrency Rate Loan pursuant to Section 3.05. Notwithstanding any of the other provisions of Section 2.05(b), so long as no Event of Default shall have occurred and be continuing, if any prepayment of Eurocurrency Rate Loans is required to be made under this Section 2.05(b), prior to the last day of the Interest Period therefor, the Borrower may, in its sole discretion, deposit the amount of any such prepayment otherwise required to be made thereunder into a Cash Collateral Account until the last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Borrower or any other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this Section 2.05(b). Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent shall also be authorized (without any further action by or notice to or from the Borrower or any other Loan Party) to apply such amount to the prepayment of the outstanding Loans in accordance with this Section 2.05(b).

  • Interest, Funding Losses, Etc All prepayments under this Section 2.05 shall be accompanied by all accrued interest thereon, together with, in the case of any such prepayment of a Eurodollar Rate Loan on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Eurodollar Rate Loan pursuant to Section 3.05. Notwithstanding any of the other provisions of this Section 2.05, so long as no Event of Default shall have occurred and be continuing, if any prepayment of Eurodollar Rate Loans is required to be made under this Section 2.05, prior to the last day of the Interest Period therefor, in lieu of making any payment pursuant to this Section 2.05 in respect of any such Eurodollar Rate Loan prior to the last day of the Interest Period therefor, the Borrower may, in its sole discretion, deposit with the Administrative Agent the amount of any such prepayment otherwise required to be made hereunder until the last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Borrower or any other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this Section 2.05. Such deposit shall constitute cash collateral for the Eurodollar Rate Loans to be so prepaid; provided that the Borrower may at any time direct that such deposit be applied to make the applicable payment required pursuant to this Section 2.05.

  • Net Losses After giving effect to the special allocations set forth in Section 6.1(d), Net Losses for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Losses for such taxable period shall be allocated as follows: (i) First, 2% to the General Partner, and 98% to the Unitholders, Pro Rata, until the aggregate Net Losses allocated pursuant to this Section 6.1(b)(i) for the current taxable year and all previous taxable years is equal to the aggregate Net Income allocated to such Partners pursuant to Section 6.1(a)(iii) for all previous taxable years, provided that the Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable year (or increase any existing deficit balance in its Adjusted Capital Account); (ii) Second, 2% to the General Partner, and 98% to the Unitholders, Pro Rata; provided, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(ii) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable year (or increase any existing deficit balance in its Adjusted Capital Account); (iii) Third, the balance, if any, 100% to the General Partner.

  • Profits/Losses For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.