Borrower Taxes definition

Borrower Taxes means any Taxes imposed on the Borrower with respect to its operations but, for the avoidance of doubt, does not include any “imputed underpayment” assessed under Section 6225 of the Code or any similar provision of state, local, or foreign law, or any penalties or interest assessed in connection with any such amount.

Borrower Taxes shall have the meaning ascribed to that term in SECTION 6.20(b).

Borrower Taxes means any Taxes imposed on the Borrower with respect to its operations.

Examples of Borrower Taxes in a sentence

• A Participant shall not be entitled to receive any greater payment under Section 5.5 [Additional Compensation in Certain Circumstances], Section 5.8 [Taxes] or Section 11.3 [Reimbursement and Indemnification of Bank by the Borrower; Taxes] than the applicable Bank would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent.

• A Participant shall not be entitled to receive any greater payment under Section 5.5 [Additional Compensation in Certain Circumstances], Section 5.8 [Taxes] or Section 11.3 [Reimbursement and Indemnification of Bank by the Borrower; Taxes ] than the applicable Bank would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower's prior written consent.

• Property and equipment recorded under capital leases are depreciated on the same basis as described in note 1(F).

• Except as set forth in SCHEDULE B, PART 6.20, as of the Closing Date, there are no pending or, to the best of the knowledge of any Borrower, threatened audits, investigations or claims for or relating to any liability in respect of Borrower Taxes, and there are no matters under discussion with any taxing or other Governmental Authority with respect to Borrower Taxes which are likely to result in a material additional liability for Borrower Taxes.

• Except as set forth in SCHEDULE B, PART 6.20, as of the Closing Date, no extension of a statute of limitations relating to Borrower Taxes is in effect with respect to any Borrower or any Subsidiary of any Borrower.

More Definitions of Borrower Taxes

Borrower Taxes means any federal, state, local or foreign income, gross receipts, license, payroll, employment, excise, severance, stamp, occupation, premium, windfall profits, environmental, customs, duties, capital stock, franchise, profits, withholding, social security (or similar), unemployment, disability, real property, personal property, intangible, ad valorem, sales, use, transfer, registration, value added, alternative or add-on minimum, estimated or other tax or other governmental charge of any kind whatsoever, including any interest, penalty or additions thereto.

Borrower Taxes. (without duplication) (a) all Taxes payable by the Borrower and its Restricted Subsidiaries and (b) permitted Restricted Payments payable in respect of Taxes of the shareholders of the Borrower. For the sake of clarity, Borrower Taxes includes deferred Taxes of the Borrower and its Restricted Subsidiaries.

Borrower Taxes shall have the meaning ascribed to such term in Section 6.19(b).

Borrower Taxes means (a) the Federal income taxes that the Borrower would be required to pay were the Borrower the common parent corporation of an affiliated group of corporations, within the meaning of Section 1504(a) of the Code, that has elected to file consolidated federal income tax returns, and the Domestic Subsidiaries were members of such group, (b) the aggregate State and local income tax that Borrower and/or any of its Domestic Subsidiaries would have incurred with respect to each relevant State and local taxing jurisdiction for which Borrower and/or any Domestic Subsidiary of Borrower participates with Mafco or any subsidiary of Mafco (other than Borrower or any Subsidiary of Borrower) in the filing of a combined State or local income tax return with such jurisdiction if Borrower and/or any Domestic Subsidiary of Borrower had filed with such jurisdiction a separate return (in a case where only one member of the Borrower Tax Group joins in the filing of such combined return) or a combined return including only those members of the Borrower Tax Group actually joining in such combined return (in a case where more than one member of the Borrower Tax Group joins in the filing of such combined return) and (c) the aggregate foreign income tax that any of Borrower's Foreign Subsidiaries would have incurred with respect to each relevant foreign taxing jurisdiction for which any Foreign Subsidiary of the Borrower participates with any foreign subsidiary of Mafco (other than Borrower or any Subsidiary of Borrower) in the filing of a combined foreign income tax return with such jurisdiction if any such Foreign Subsidiary of Borrower had filed with such jurisdiction a separate return (in a case where only one Foreign Subsidiary of the Borrower Tax Group joins in the filing of such combined return) or a combined return including only those Foreign Subsidiaries of the Borrower Tax Group actually joining in the such combined return (in a case where more than one Foreign Subsidiary of the Borrower joins in the filing of such combined return).

Borrower Taxes shall have the meaning assigned to that term in Section 2.09 hereof.

Borrower Taxes means all taxes, assessments, fees, withholdings and other governmental charges payable by any Guarantor, the Borrower or Holdco (and any affiliated group of which any such party is now or has been members) in respect of their incomes, franchises, businesses, properties or otherwise.

Borrower Taxes means any Taxes imposed on the Borrower with respect to its operations. “Borrowing Base” means, as of any date of determination, an amount equal to the sum of (a) with respect to each Eligible Portfolio Asset that is an Initial Portfolio Asset, an amount equal to the product of (i) the advance rate set forth on Schedule I for such Eligible Portfolio Asset and (ii) the most recent Value for such Eligible Portfolio Assets as of such date, (b) with respect to each Eligible Portfolio Asset that is not an Initial Portfolio Asset, an amount equal to the product of (i) the advance rate for such Eligible Portfolio Asset as determined by the Initial Lender under Section 3.04(b) and (ii) the most recent Value for such Eligible Portfolio Asset as of such date, (c) with respect to the real estate owned real property related to Hilton Garden Inn, Philadelphia, an amount equal to the lesser of (i) $10,150,000 and (ii) the product of (A) 26.8% and (ii) the Appraised Value for such Eligible Portfolio Asset as in effect at such time as determined in accordance with the Valuation Policy, (d) with respect to any other real estate owned real property other than as described in clause (c) above, an amount equal to the product of (i) a percentage to be determined by the Initial Lender in its sole discretion and (ii) the Appraised Value of such Eligible Portfolio Asset as of a date determined by the Initial Lender in their sole discretion and as determined in accordance with the Valuation Policy, and (e) with respect to the Eligible Ground Lease located at 000 Xxxx Xxxxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxxx and held by Propco (the “Appleton Lease”), (i) prior to a Leasehold Mortgage Event, an amount equal to $20,300,000 or (ii) on and after the date the Leasehold Mortgage Event occurs, an amount equal to $0.