Company Tax Benefit definition

Company Tax Benefit means a reduction in the Income Tax ------------------- liability of the Company for any taxable period beginning after the date of the Transaction. The Company shall be deemed to have received or realized a Company Tax Benefit from a Tax Item in a taxable period only if and to the extent that the Company's Income Tax liability for such period is less than it would have been if such liability were determined without regard to such Tax Item. The Company shall be deemed to have realized or received a Company Tax Benefit with respect to a carryover is used to produce a Company Tax Benefit.
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Company Tax Benefit means an amount, calculated as of the Closing Date, equal to 39% of the sum (without duplication) of the following amounts of the Company and its Subsidiaries: (i) 50% of any termination payments and any other deductions, costs or expenses related to the termination of the Interest Rate Swap on the Closing Date in accordance with Section 3.5, (ii) 100% of fees, amounts treated as interest or premium for income tax purposes, accelerated deductions of capitalized financing costs and any other deductions, costs or expenses related to repayment or redemption of the Notes and settlement or termination of related hxxxxx on the Closing Date in accordance with Section 3.5, (iii) 50% of fees, costs and expenses payable to the Financial Advisor incurred pursuant to the Engagement Letter between Activant Solutions Inc. and the Financial Advisor, dated April 23, 2010, (iv) 55% of fees, costs and expenses payable to outside accounting firms incurred in connection with this Agreement and the transactions and other agreements contemplated by this Agreement, (v) 35% of fees, costs and expenses payable to STB and other attorneys engaged by the Company or its Subsidiaries in connection with this Agreement and the transactions and other agreements contemplated by this Agreement and (vi) 100% of transaction, change of control, stock retention or similar bonuses, including, without limitation, the Unpaid Cash Bonuses, adopted or entered into by the Company and its Subsidiaries and payable to employees or directors of the Company or any of its Subsidiaries as a result of the consummation of the Merger.
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Company Tax Benefit means the amount of the reduction in the Company’s federal, state and local taxes, plus any applicable interest on any refunds resulting from any such reduction, arising from a Final Determination of Additional Taxes. To the extent that as a result of net operating losses, including a carryover or carryback of any net operating losses, any part of the reduction in the Company’s federal, state and local taxes is not realized until a tax year following the tax year in which the Company received a tax deduction as the result of the Participant’s election under Section 83(b) of the Code (“83(b) Election Year”), but not later than the tax year in which the Final Determination of Additional Taxes falls (“Future Tax Benefit”), then the Company Tax Benefit shall include only the present value of the Future Tax Benefit, discounted from the last day of the tax year in which the Future Tax Benefit is realized to the last day of the 83(b) Election Year using a discount rate equal to the overpayment rate determined in accordance with Section 6621(a)(1) of the Code. The Company Tax Benefit will not include the amount of any reduction in federal, state or local taxes that will not be realized until after the tax year in which the Final Determination of Additional Taxes falls.
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Examples of Company Tax Benefit in a sentence

  • Hartnett shall not rescind, revoke, amend or modify the Settlement or take any other action which, in each case, could result in the Company losing all or any portion of the Company Tax Benefit without obtaining the prior written consent of Whitney and the disinterested members of the Board of Directors.

  • A Company Tax Benefit is actually realized or obtained only (i) upon the filing of a Tax Return (including a short period Tax Return) that shows a reduced Tax Liability or (ii) upon receipt of a Tax refund.

  • Following any Final Determination of Additional Taxes, the Company hereby agrees to indemnify, defend and hold harmless the Participant from and against, and will pay the amount of, any and all Additional Taxes up to but not in excess of the Company Tax Benefit.


More Definitions of Company Tax Benefit

Company Tax Benefit means Eighty Six Million Dollars ($86,000,000).
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Company Tax Benefit has the meaning specified in Section 3.9(b).
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Company Tax Benefit realized in respect of a taxable period covered by a Section 3.9 Return shall be an amount equal to the product of (A) the excess, if any, of 041945-0274-16051-Active.21513949.1
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Related to Company Tax Benefit

  • Tax Benefit means any refund, credit, or other item that causes reduction in otherwise required liability for Taxes.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • Tax Benefits means the net operating loss carryovers, capital loss carryovers, general business credit carryovers, alternative minimum tax credit carryovers and foreign tax credit carryovers, as well as any loss or deduction attributable to a “net unrealized built-in loss” within the meaning of Section 382 of the Code and the Treasury Regulations promulgated thereunder, of the Company or any of its Subsidiaries.

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • Net After-Tax Benefit means the Present Value of a Payment net of all federal state and local income, employment and excise taxes imposed on Executive with respect thereto, determined by applying the highest marginal rate(s) applicable to an individual for Executive’s taxable year in which the Change in Control occurs.

  • Tax Detriment means an increase in the Tax liability (or reduction in refund or credit or item of deduction or expense) of a taxpayer (or of the Affiliated Group of which it is a member) for any taxable period.

  • Realized Tax Benefit means, for a Taxable Year, the excess, if any, of the Hypothetical Tax Liability over the Actual Tax Liability. If all or a portion of the Actual Tax Liability for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination.

  • Cumulative Net Realized Tax Benefit for a Taxable Year means the cumulative amount of Realized Tax Benefits for all Taxable Years of the Corporate Taxpayer, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period. The Realized Tax Benefit and Realized Tax Detriment for each Taxable Year shall be determined based on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination.

  • Tax Attribute means a net operating loss, net capital loss, unused investment credit, unused foreign tax credit, excess charitable contribution, general business credit or any other Tax Item that could reduce a Tax.

  • Tax Benefit Schedule is defined in Section 2.02 of this Agreement.

  • Tax Attributes means net operating losses, capital losses, tax credit carryovers, earnings and profits, foreign tax credit carryovers, overall foreign losses, previously taxed income, tax bases, separate limitation losses and any other losses, deductions, credits or other comparable items that could affect a Tax liability for a past or future taxable period.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Realized Tax Detriment means, for a Taxable Year, the excess, if any, of the Actual Tax Liability over the Hypothetical Tax Liability. If all or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination.

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the Hypothetical Federal Tax Liability for such Taxable Year, plus the Hypothetical Other Tax Liability for such Taxable Year.

  • NOLs means the Company’s net operating loss carryforwards.

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Intrinsic Loss Estimate means total losses under the shared loss agreements in the amount of twenty nine million dollars ($ 29,000,000.00).

  • Carryback 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 Period to another Tax Period under the Code or other applicable Tax Law.