Correlative Detriment has the meaning set forth in Section 4.1(b).
Correlative Detriment means an increase in a Tax payment obligation by a Party (or its Subsidiaries) or a reduction in a Tax benefit of a Party (or its Subsidiaries) that occurs as a direct result of the Tax position that is the basis for a Refund that is described in clause (3) of Section 4.1(a).
Correlative Detriment is an increase in a Tax of a Party (or its Affiliates) that occurs as a result of the Tax position that is the basis for a claim for Refund by the Claiming Party or for a Final Determination, utilizing the assumptions set forth in the description of HP Full Taxpayer or Enterprise Full Taxpayer, as the case may be.
Examples of Correlative Detriment in a sentence
Notwithstanding Section 3.06(a)(i), to the extent a claim for a Refund results in a Correlative Detriment to the other Company (or its Affiliates), any such Refund that is received by the Claiming Company (or its Affiliates) shall, and only to the extent thereof, be paid to the other Company (or its Affiliates) that incurs such Correlative Detriment.
More Definitions of Correlative Detriment
Correlative Detriment means an increase in a Tax payment obligation by a Party (or its Subsidiaries) or a reduction in a Tax benefit of a Party (or its Subsidiaries) that occurs as a direct result of the Tax position that is the basis for a Refund to which the other Party is entitled pursuant to Section 3.3; provided, however that the inclusion of the Refund into the taxable income of the Party shall not be considered a Correlative Detriment (i.e. such inclusion is already taken into account given the definition of Refund).
Correlative Detriment shall have the meaning set forth in Section 3.06(a) of this Agreement.
Correlative Detriment means an increase in a Tax of a Company (or its Affiliates) that occurs as a result of the Tax position that is the basis for a claim for Refund by the Claiming Company or for a Final Determination, utilizing the assumptions set forth in the description of Houston Full Taxpayer or Seattle Full Taxpayer, as the case may be.
Correlative Detriment is an increase in a current year Tax payment obligation by a Party or a reduction in a current year Tax benefit of a Party not otherwise entitled to a Refund under the prior sentence that occurs as a direct result of the Tax position that is the basis for the Refund or the claim therefor. By way of example, if SpinCo were to generate a net operating loss for a Post-Distribution Tax Period and such loss was carried back to a Pre-Distribution Tax Period and resulted in a Refund, but at the same time reduced the amount of a foreign tax credit available to RemainCo for such Pre-Distribution Tax Period, RemainCo would have a Correlative Detriment for which it is entitled to receive payment unless such tax credit could be carried forward by RemainCo.
Correlative Detriment is an increase in a Tax of a Party (or its Subsidiaries) that occurs as a result of the Tax position that is the basis for a claim for Refund by the Claiming Party or for a Final Determination. For the avoidance of doubt, a Correlative Detriment does not include an item that results in a temporary increase in a Tax of a Party (or its Subsidiaries) that will be recovered through a deduction under Section 162 of the Code or a similar provision of Law in one or more subsequent years or recovered through amortization or depreciation deductions allowed under Sections 167, 168, or 197 of the Code or similar provisions of Law (a “Timing Item”).
Correlative Detriment is an increase in a Tax that occurs as a result of the Tax position that is the basis for a claim for Refund or for a Final Determination. For the avoidance of doubt, a Correlative Detriment does not include an increase in Tax to the extent such increase is expected to be offset or recovered through additional deductions under Section 162 of the Code or a similar provision of Law in the current or one or more subsequent years or through additional amortization or depreciation deductions allowed under Sections 167, 168, or 197 of the Code or similar provisions of Law.
Correlative Detriment means an actual increase in a Tax of a Company (or another member of its Group) that occurs as a result of the Tax position that is the basis for a claim for Refund by the Claiming Company or for a Final Determination. “Delta” shall have the meaning set forth in the Merger Agreement. “Dispute” shall have the meaning set forth in Section 12.01. “Distribution” shall have the meaning set forth in the Separation Agreement. “Distribution Date” shall have the meaning set forth in the Separation Agreement so long as the Merger and the Second Step Merger occur on the Distribution Date. For purposes of this