Carryback Item definition

Carryback Item means any net operating loss, net capital loss, excess tax credit or other similar Tax item which may or must be carried from one Tax Year to another Tax Year under the Code or other applicable Tax Law.

Carryback Item shall have the meaning assigned to such term in Section 3.8(b) of this Agreement.

Carryback Item means any net operating loss, net capital loss, excess tax credit or other similar Tax item which may or must be carried from one taxable period to another taxable period under the Code or other applicable Tax law.

Examples of Carryback Item in a sentence

• If the Carryback Period of a Circor Carryback Item ---------- includes a taxable period subject to a Return filed by Xxxxx under Section 7.01(a), Circor shall elect (under Code Section 172(b)(3) and (f)(6) and any other applicable Code provision and, to the extent feasible, any similar provision of applicable state or local Income Tax law) to relinquish such Carryback Period unless the parties agree otherwise.

• With respect to any Tax imposed on or attributable to any Group Member for any applicable Pre-IPO Period, Parent may make an Adjustment Request with respect to such Tax, including carrying back a Carryback Item of any Parent Group Member arising in a Post-IPO Period to any Pre-IPO Period.

• Notwithstanding Section 4.5(a), if any Cal Dive Group Member is required by applicable Tax Law to carry back a Carryback Item arising in a Post-IPO Period to a Pre-IPO Period, the Companies agree that any Carryback Item of any Parent Group Member that may be carried back to the same Pre-IPO Period shall be deemed to be used before any Carryback Item of any Cal Dive Group Member.

• With respect to any Tax imposed on or attributable to any Group Member for any applicable Pre-Deconsolidation Period, Distributing may make an Adjustment Request with respect to such Tax, including carrying back a Carryback Item of any Distributing Group Member arising in a Post-Deconsolidation Period to any Pre-Deconsolidation Period.

• Treasury Regulation 1.1502-21 or any successor provision shall govern the ordering and priority of utilization of any carryback item, including any Ventures Carryback Item, to any return filed by the Consolidated Group.

More Definitions of Carryback Item

Carryback Item means any net operating loss, unused general business credit or other Tax item that under the Code or other Domestic Income Tax law can be used to reduce the Domestic Income Tax liability of a taxable period preceding the taxable period in which such item is created.

Carryback Item means any net operating loss, net capital loss, unused general business tax credit, or any other Tax Item of the Entertainment Affiliated Group which under the Code or any other applicable Income Tax law can be used to generate a Tax Benefit for the SFX Affiliated Group.

Carryback Item means any net operating loss, net capital loss, unused general business tax credit, or any other Income Tax Item of the Lakes Group that, under the Code or any other applicable Income Tax law, may be carried back to a Taxable Period, the Tax Return of which is required to be filed by Company under Section 2.

Carryback Item shall have the meaning as described in Section 5.01(b) below.

Carryback Item means any net operating loss, net capital loss, unused general business tax credit or any other Tax Item of the PHC Affiliated Group which under the Code or any other applicable Income Tax law can be used to generate a Tax Benefit for the BWI Affiliated Group.

Carryback Item means any net operating loss, net capital loss, unused general business tax credit, or any other Tax item of the Unisource Affiliated Group which, under the Code or any other applicable Tax law, may be carried back and may generate a Tax Benefit for any member of the Alco Group.

Carryback Item shall have the meaning as described in Section 5.01(b) below. "CCL" shall have the meaning as described in the preamble to this Agreement. "CCL Companies" shall mean, collectively, CCL and each Subsidiary of CCL, other than Covance and any Subsidiary of Covance. "CCL Distribution" shall mean the distribution by Corning to the Corning shareholders of the stock of CCL as more particularly described in the Transaction Agreement. "CCL Domestic Companies" shall mean, collectively, each CCL Company incorporated or organized under the laws of one of the respective States of the United States. "CCL Group" shall mean the affiliated group of corporations as defined in Section 1504(a) of the Code of which CCL is the common parent, not including Covance or any member of the Covance Group and determined as if the capital stock of CCL is widely held. "CCL Returns" shall have the meaning as described in Section 2.03 below. "CCL Return Period" shall mean a taxable period to which this Agreement applies and for which a CCL Return is filed. "CCL Separate Liability" shall have the meaning as described in Section 4.01. "CI Consolidated Return" shall mean any consolidated federal income tax return or amendment thereof of the CI Group which includes one or more of the CCL Domestic Companies or the Covance Domestic Companies.