Additional State Amount Payment definition

Additional State Amount Payment means a payment to a State Holder of an amount which, when combined with the amount of the portion of any dividend to which a Taxable Allocation relates, and after imposition of U.S. federal income tax and California income tax, taking into account the assumptions in the immediately following sentence, equals the after tax dollar amount of the dividend that would have been received by such State Holder if no Taxable Allocation had been made with respect to such dividend. Such Additional State Amount Payment shall be calculated (i) without consideration being given to the time value of money; (ii) assuming that no State Holder is subject to the federal alternative minimum tax with respect to dividends received from the Fund; and (iii) assuming that each Taxable Allocation and each Additional State Amount Payment (except to the extent such Additional State Amount Payment is reported as an exempt-interest dividend for purposes of Section 852(b)(5) of the Code) would be taxable, (x) in the case of the Purchaser (or any Corporate Affiliate), at the maximum marginal combined regular federal and California corporate income tax rate (taking account of the federal income tax deductibility of state and local taxes paid or incurred) applicable to ordinary income or net capital gains, as applicable, in effect at the time such Additional State Amount Payment is paid or (y) in the case of any other State Holder, the maximum marginal combined regular federal and California individual income tax rate (taking account of the federal income tax deductibility of state and local taxes paid or incurred) applicable to ordinary income or net capital gains, as applicable, in effect at the time such Additional State Amount Payment is paid, assuming that section 1411 of the Code is applicable.
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Additional State Amount Payment means a payment to a State Holder of an amount which, when combined with the amount of the portion of any dividend to which a Taxable Allocation relates, and after imposition of U.S. federal income tax and New York State income tax, taking into account the assumptions in the immediately following sentence, equals the after tax dollar amount of the dividend that would have been received by such State Holder if no Taxable Allocation had been made with respect to such dividend. Such Additional State Amount Payment shall be calculated (i) without consideration being given to the time value of money; (ii) assuming that no State Holder is subject to the federal alternative minimum tax with respect to dividends received from the Fund; and (iii) assuming that each Taxable Allocation and each Additional State Amount Payment (except to the extent such Additional State Amount Payment is reported as an exempt-interest dividend for purposes of Section 852(b)(5) of the Code) would be taxable, (x) in the case of each of the Purchasers (or any Corporate Affiliate), at the maximum marginal combined regular federal and New York State and New York City corporate income tax rate (taking account of the federal income tax deductibility of state and local taxes paid or incurred) applicable to ordinary income or net capital gains, as applicable, in effect at the time such Additional State Amount Payment is paid or (y) in the case of any other State Holder, the maximum marginal combined regular federal and New York State and New York City individual income tax rate (taking account of the federal income tax deductibility of state and local taxes paid or incurred) applicable to ordinary income or net capital gains, as applicable, in effect at the time such Additional State Amount Payment is paid, assuming that section 1411 of the Code is applicable.
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Additional State Amount Payment means a payment to a State Holder of an amount which, when combined with the amount of the portion of any dividend to which a Taxable Allocation relates, and after imposition of U.S. federal income tax and California income tax, taking into account the assumptions in the immediately following sentence, equals the after tax dollar amount of the dividend that would have been received by such State Holder if no Taxable Allocation had been made with respect to such dividend. Such Additional State Amount Payment shall be calculated (i) without consideration being given to the time value of money;
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Examples of Additional State Amount Payment in a sentence

  • In lieu of adjusting the Dividend Rate, the Fund may make, in addition to and in conjunction with the payment of regular dividends for such Dividend Period, a supplemental distribution in respect of each share of such series for such Dividend Period equal to either the Additional Amount Payment or Additional State Amount Payment, as applicable, payable in respect of the Taxable Allocation made in respect of such share for such Dividend Period.

Related to Additional State Amount Payment

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Additional Amount Payment means a payment to a Holder of MuniFund Term Preferred Shares of an amount which, when taken together with the aggregate amount of Taxable Allocations made to such Holder to which such Additional Amount Payment relates, would cause such Holder’s dividends in dollars (after federal income tax consequences) from the aggregate of such Taxable Allocations and the related Additional Amount Payment to be equal to the dollar amount of the dividends that would have been received by such Holder if the amount of such aggregate Taxable Allocations would have been excludable (for federal income tax purposes) from the gross income of such Holder. Such Additional Amount Payment shall be calculated (i) without A-1 consideration being given to the time value of money; (ii) assuming that no Holder of MuniFund Term Preferred Shares is subject to the federal alternative minimum tax with respect to dividends received from the Fund; and (iii) assuming that each Taxable Allocation and each Additional Amount Payment (except to the extent such Additional Amount Payment is designated as an exempt-interest dividend under Section 852(b)(5) of the Code) would be taxable in the hands of each Holder of MuniFund Term Preferred Shares at the maximum marginal regular federal individual income tax rate applicable to ordinary income or net capital gains, as applicable, or the maximum marginal regular federal corporate income tax rate applicable to ordinary income or net capital gains, as applicable, whichever is greater, in effect at the time such Additional Amount Payment is paid.

  • Payment Adjustment Date With respect to each ARM Loan, the date on which the Borrower's Monthly Payment changes in accordance with the terms of the related Mortgage Note.

  • Delta Payment means as it is described in this Agreement.

  • Calculation Amount means the amount specified as such on the face of any Note, or if no such amount is so specified, the Denomination Amount of such Note as shown on the face thereof;

  • Additional Payment has the meaning given in clause 11.1 (Right to repay the Facility early).

  • Class A-1 Final Scheduled Payment Date means the Payment Date occurring in May 2023.

  • Incremental Term Loan Installment Date shall have, with respect to any Class of Incremental Term Loans established pursuant to an Incremental Assumption Agreement, the meaning assigned to such term in Section 2.10(a)(ii).

  • Tax Payment Date means, with respect to any applicable Taxes, the date occurring 30 days prior to the date the same are due and payable.

  • Initial Notional Amount With respect to any Class or Subclass of Interest Only Certificates, the amount initially used as the principal basis for the calculation of any interest payment amount, as more specifically defined in the Series Supplement.

  • Maturity Payment Amount shall have the meaning set forth in Section 2 of this Annex A.

  • Aggregate Notional Amount means, with respect to any date of determination, an amount equal to the sum of the notional amounts or equivalent amounts of all outstanding Hedging Agreements, Replacement Hedging Agreements and Qualified Substitute Arrangements, each as of such date of determination.

  • Adjusted Actual/360 Accrued Interest Amount with respect to any REMIC I Regular Interest referred to in clause (B) of the second sentence of the prior paragraph, for any Interest Accrual Period, is an amount of interest equal to the product of (a) the Net Mortgage Rate then in effect (including as a result of any step-up provision) for the related Mortgage Loan under the original terms of such Mortgage Loan in effect as of the Closing Date (without regard to any modifications, extensions, waivers or amendments of such Mortgage Loan subsequent to the Closing Date, whether entered into by the Master Servicer or the Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower), multiplied by (b) a fraction, the numerator of which is the number of days in such Interest Accrual Period, and the denominator of which is 360, multiplied by (c) the Uncertificated Principal Balance of such REMIC I Regular Interest immediately prior to the Distribution Date that corresponds to such Interest Accrual Period; provided that, if the subject Interest Accrual Period occurs during (x) December of any year that does not immediately precede a leap year or (y) January of any year, then the amount of interest calculated with respect to the subject REMIC I Regular Interest pursuant to this definition for such Interest Accrual Period without regard to this proviso shall be decreased by the Interest Reserve Amount, if any (and the fraction described in clause (B) of the second sentence of the preceding paragraph shall be adjusted accordingly), with respect to the related Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) transferred, in accordance with Section 3.04(c), from the Distribution Account to the Interest Reserve Account on the Master Servicer Remittance Date that occurs immediately following the end of such Interest Accrual Period; and provided, further, that, if the subject Interest Accrual Period occurs during February of any year (or during any December or January preceding the month of the Final Distribution Date), then the amount of interest calculated with respect to the subject REMIC I Regular Interest pursuant to this definition for such Interest Accrual Period without regard to this proviso shall be increased by the Interest Reserve Amount(s), if any (and the fraction described in clause (B) of the second sentence of the preceding paragraph shall be adjusted accordingly), with respect to the related Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) transferred, in accordance with Section 3.05(c), from the Interest Reserve Account to the Distribution Account on the Master Servicer Remittance Date that occurs immediately following the end of such Interest Accrual Period.

  • Upfront Payment has the meaning set forth in Section 4.1.

  • Class X-D Notional Amount With respect to the Class X-D Certificates as of any date of determination, the sum of the Component Notional Amounts of the Class X-D Components.

  • Class A-2 Final Scheduled Payment Date means the Payment Date occurring in February 2027.

  • Class D Final Scheduled Payment Date means the Payment Date occurring in April 2021.

  • Basic Rent Payment Date means Basic Rent Payment Date as defined in Paragraph 6.

  • Class A-3 Final Scheduled Payment Date means the Payment Date occurring in April 2028.

  • Quarterly Payment Date means the last Business Day of each March, June, September and December.

  • Class A-4 Final Scheduled Payment Date means the Payment Date in February 2024.

  • Required Daily Deposit Target Finance Charge Amount means, for any day in a Due Period, an amount equal to the Class A Tranche Interest Allocation for the related Distribution Date; provided, however, that for purposes of determining the Required Daily Deposit Target Finance Charge Amount on any day on which the Class A Tranche Interest Allocation cannot be determined because the LIBOR Determination Date for the applicable Interest Accrual Period has not yet occurred, the Required Daily Deposit Target Finance Charge Amount shall be the Class A Tranche Interest Allocation determined based on a pro forma calculation made on the assumption that LIBOR will be LIBOR for the applicable period determined on the first day of such calendar month, multiplied by 1.25.

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.

  • Class C Final Scheduled Payment Date means the Payment Date occurring in August 2022.

  • Estimated Adjustment Amount has the meaning set forth in Section 2.5(a).

  • Interest Adjustment Date With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.