Carryforwards definition
Examples of Carryforwards in a sentence
None of the Montage Group NOL Carryforwards is subject to limitation under Treasury Regulations Sections 1.1502-15 or 1.1502-21.
As of the date of this Agreement (x) the Montage Group NOL Carryforwards are subject to limitation under Section 382 of the Code and (y) the limitations are such that substantially all of the Montage Group NOL Carryforwards are expected to be available for use prior to their expiration.
Employee, who has been one of ESI's executives for many years, has been informed that ESI may have Net Operating Loss Carryforwards for Federal and/ or California Income Tax purposes ("NOL's") as of June 30, 1997 which may be available in future tax years to offset taxable income earned in such future years.
Except as may result from this Agreement or the Related Agreements, or the transactions contemplated hereby or thereby, none of the NOL Carryforwards is currently subject to limitation under Section 382 of the Code or Treasury Regulations Section 1.1502-15 or -21 (or any comparable provisions of Dutch tax law) or otherwise.
The availability of the Limited NOL Carryforwards in post-February 15, 2005 periods has been limited to approximately $17.0 million per year.
The NOL Carryforwards are subject to the limitations under Section 382 of the Code described in Section 4.10(b) of the Company Disclosure Schedule.
Carryforwards or carrybacks of any Tax item attributable to any Tax Attribute shall be considered to be subject to the rules of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local income and franchise tax law, as applicable, governing the use, limitation and expiration of carryforwards or carrybacks of the relevant type.
None of the Limited NOL Carryforwards has been used and the $17.0 million per year limitation has been accumulating so that, as of the end of 2008, there will effectively be no remaining limitation on the utilization of the Limited NOL Carryforwards.
Allergan hereby agrees to take any action or make any election reasonably required to permit AMO and the AMO Members to utilize the Carryforwards; provided, however, that no such action or election shall be required if it would adversely affect in any way the Income Tax liabilities of the Allergan Group or any Post-Distribution Member for any Taxable Year.
Except as may result from the Mergers, none of the NOL Carryforwards is currently subject to limitation under Section 382 of the Code or Treasury Regulations Section 1.1502-15 or -21 or otherwise.