Additional Tax Liability definition

Additional Tax Liability means in any tax year in which a final tax adjustment is made by the Internal Revenue Service with respect to your purchase of Executive Stock under the Stock Agreement, all additional taxes, interest and penalties applicable to any such final tax adjustment. The undersigned's obligation to purchase such shares of Executive Stock hereunder is conditioned upon your providing the undersigned with documentation that is reasonably satisfactory to the Company evidencing the final determination of such Additional Tax Liability. It is the intent of this agreement to provide you with liquidity for a portion of your Executive Stock so as allow you to pay on a timely basis any Additional Tax Liability. This agreement shall at all times be interpreted consistently with such intent.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Additional Tax Liability shall have the meaning contained in Section 2.3 of this Agreement.

Additional Tax Liability shall have the meaning set forth in Section 6.08(d).

Examples of Additional Tax Liability in a sentence

Such accounting firm's conclusion as to the Additional Tax Liability shall be conclusive.
If the Additional Bridge Funding Tax Liability exceeds the Additional Tax Liability Cap, a RMT Partner Special Election shall have been made.
If the Additional Bridge Funding Tax Liability exceeds the Additional Tax Liability Cap, a Remainco Special Election shall have been made.
Upon such final determination, Buyer shall within ten (10) days thereafter, pay the entire amount of such Additional Tax Liability to Sellers.
An example of the calculation of the Additional Tax Liability is attached as Schedule 2.
The term "Additional Tax Liability shall have the meaning contained in Section 2.3 of this Agreement.
Buyer shall review the calculation of such Additional Tax Liability within thirty (30) days after receipt thereof and notify Sellers of any discrepancy.
For each such Credit Deficiency Year, New Fluor shall pay to Parent the amount of such Parent Group Additional Tax Liability, provided, however, that in no event shall New Fluor be obligated hereunder to make payments to Parent in excess of the aggregate New Fluor Group Tax Savings, provided further, however, for purposes of this Section 2.01(b)(iii), the amount of such New Fluor Group Tax Savings shall be adjusted, in accordance with the provisions of Section 2.01(b)(iv).
On the same date or as soon thereafter as Santorufo shall have execute▇ ▇▇▇ ▇▇▇ivered a Promissory Note to the Company in the form of Exhibit F in a principal amount equal to 50% of the Additional Tax Liability or such lesser amount as may be requested by Santorufo (an "Additional Pr▇▇▇▇▇▇▇▇ Note"), the Company shall also make a loan to Santorufo in such amount.
VIALOG agrees to reimburse the Company's stockholders to the extent that the Final Additional Tax Liability exceeds the Estimated Additional Tax Liability, and each of the stockholders agrees to reimburse VIALOG to the extent that the Estimated Additional Tax Liability exceeds the Final Additional Tax Liability, such reimbursement to be made in each case within thirty (30) days after the Final Additional Tax Liability is finally determined.

More Definitions of Additional Tax Liability

Additional Tax Liability means the additional liability for all income taxes, federal, state and local, which may be due from or assessed to the Sellers solely as a result of the election to be made under Section 338(h)(10) of the Code as provided in Section VI.H below. C. "Affiliate" has the meaning set forth in Rule 12b-2 of the regulations promulgated under the Securities Exchange Act.

Additional Tax Liability has the meaning set forth in Section 1.9(d).