Estimated Tax Credits definition

Estimated Tax Credits has the meaning set forth in Section 2.5(b).
Sample 1Sample 2
Estimated Tax Credits means, with respect to any period after the Closing Date, the estimated Tax Credits generated during such period as a result of the production of solid synthetic fuel at the Facility and the sale of such synthetic fuel to unrelated persons that are allocable to Buyer in respect of Buyer's ownership of its Membership Interest which estimate shall be made in accordance with the methodology set forth in Schedule 1.1; provided, however, that Excluded Sales will not be taken into account.
Sample 1
Estimated Tax Credits with respect to any period after the Closing Date, means the estimated Tax Credits generated during such period as a result of the production of solid synthetic fuel at the Facility and the sale of such synthetic fuel to unrelated third parties that are allocable to Buyer in respect of Buyer's ownership of the Membership Interest, which estimate will be made in accordance with the methodology set forth in Schedule 2.5(b) hereto; provided, however, that Excluded Sales will not be taken into account. The Parties shall direct the Administrative Member to prepare and deliver on or before the tenth day after the end of each Quarter or, in the case of the first Quarter ending after the date hereof, the partial Quarter, to Buyer, Seller and MHSI a written report (each, an "Operations Report"), in the form attached hereto as Exhibit B, setting forth the following: (i) a calculation of the Estimated Tax Credits made in accordance with the methodology set forth in Schedule 2.5(b), and the amounts allocated to each Party for such Quarter, (ii) Seller's, MHSI's and Buyer's capital contributions to be made to the Operating Company pursuant to Section 4.1(c) of the Amended LLC Agreement for such Quarter, (iii) the payment on the Base Note, the Fixed Deferred Payment and Variable Deferred Payment owed by Buyer for such Quarter or partial Quarter computed in accordance with Schedule 2.5(b) hereof and any recomputations made by the Administrative Member under Sections 2.5(d) and 2.5(e) hereof during the period after the date of the relevant prior Operations Report and (iv) MHSI's initial estimate of the net taxable loss of the Operating Company for the Quarter and of the depreciation available to Buyer for the Quarter with respect to the special basis increase under Section 743(b) of the Code relating to Buyer's purchase of its interest in the Operating Company. Each Operations Report will include a detailed listing by customer of all synthetic fuel sales from the Facility and identification of any such sales that were Excluded Sales, the allocation of receipts and costs to any sales of Pre-Sale Inventory, and the average energy content per ton of synfuel produced and sold. Attached to the Operations Report will be the analyses from the Independent Chemist of the synthetic fuel produced during the Quarter. In addition, the Manager will certify as part of the Operations Report: (w) the number of tons of synthetic fuel sold to unrelated parties and that were not Excluded Sal...
Sample 1

Examples of Estimated Tax Credits in a sentence

  • Lender is provided with evidence reasonably satisfactory to Lender and its counsel that: (i) there shall be sufficient funds in the Picture’s budget to complete the Picture for Borrower to qualify for the Estimated Tax Credits in accordance with all laws, regulations and Film Office policies; and (ii) all funds for the Budget (other than the Commitment Amount and documented deferments) have been funded to the Production Account.


More Definitions of Estimated Tax Credits

Estimated Tax Credits has the meaning specified in paragraph 2.3.2 hereof.
Sample 1
Estimated Tax Credits for any Quarter has the meaning specified in the Partnership Agreement, except that such Estimated Tax Credits for the Quarter first ending after the Adjustment Amount (as defined in the Partnership Agreement) is finalized in each year shall be increased or decreased by the Annual Adjustment Amount.
Sample 1

Related to Estimated Tax Credits

  • Estimated taxes means the amount that the taxpayer reasonably estimates to be the taxpayer's tax liability for a municipal corporation's income tax for the current taxable year.

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • Input Tax Credit means the credit of input tax;

  • Tax Credits means the low-income housing tax credits found in Section 42 of the Code, and all rules, regulations, rulings, notices and other promulgations thereunder.

  • Related Taxes means (i) any Taxes, including sales, use, transfer, rental, ad valorem, value added, stamp, property, consumption, franchise, license, capital, registration, business, customs, net worth, gross receipts, excise, occupancy, intangibles or similar Taxes and other fees and expenses (other than (x) Taxes measured by income and (y) withholding Taxes), required to be paid (provided such Taxes are in fact paid) by any Parent Entity by virtue of its:

  • Consolidated Tax Expense means, for any period, the tax expense of Holdings and its Subsidiaries, for such period, determined on a consolidated basis in accordance with GAAP.

  • Consolidated Taxes means, with respect to any Person for any period, the provision for taxes based on income, profits or capital, including, without limitation, state, franchise, property and similar taxes, foreign withholding taxes (including penalties and interest related to such taxes or arising from tax examinations) and any Tax Distributions taken into account in calculating Consolidated Net Income.

  • Tax Revenue means, with respect to the Project Area, (a) those tax revenues referred to (1) in the last sentence of the first paragraph of Article VIII, Section 12 of the Constitution of the State and (2) in Section 18-2147, Reissue Revised Statutes of Nebraska, as amended, and (b) all payments made in lieu thereof.

  • Combined Tax Return means a Tax Return filed in respect of U.S. federal, state, local or non-U.S. income Taxes for a Combined Group, or any other affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) Tax Return of a Combined Group.

  • Tax Credit means a credit against, relief or remission for, or repayment of any Tax.

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

  • 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.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Presumed Tax Rate means the highest effective marginal statutory combined U.S. federal, state and local income tax rate prescribed for an individual residing in New York City (taking into account (i) the deductibility of state and local income taxes for U.S. federal income tax purposes, assuming the limitation of Section 68(a)(2) of the Code applies and taking into account any impact of Section 68(f) of the Code, and (ii) the character (long-term or short-term capital gain, dividend income or other ordinary income) of the applicable income).

  • Assumed Tax Rate means the highest effective marginal combined U.S. federal, state and local income tax rate for a Fiscal Year prescribed for an individual or corporate resident in New York, New York (taking into account (a) the nondeductiblity of expenses subject to the limitation described in Section 67(a) of the Code and (b) the character (e.g., long-term or short-term capital gain or ordinary or exempt income) of the applicable income, but not taking into account the deductibility of state and local income taxes for U.S. federal income tax purposes). For the avoidance of doubt, the Assumed Tax Rate will be the same for all Partners.

  • Indemnified Tax means (a) any Tax, other than an Excluded Tax, imposed on or with respect to any payment made by or on account of any obligation of the Borrower under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes.

  • Covered Taxes means any and all U.S. federal, state, local and foreign taxes, assessments or similar charges that are based on or measured with respect to net income or profits, whether as an exclusive or an alternative basis (including for the avoidance of doubt, franchise taxes), and any interest imposed in respect thereof under applicable law.

  • Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State.

  • Tax Attribute means a net operating loss, net capital loss, unused investment credit, unused foreign Tax credit, excess charitable contribution, general business credit, research and development credit, earnings and profits, basis, or any other Tax Item that could reduce a Tax or create a Tax Benefit.

  • input tax , in relation to a vendor, means—

  • Production Tax Credit or “PTC” means the tax credit for electricity produced from certain renewable generation resources described in Section 45 of the Internal Revenue Code of 1986, as it may be amended or supplemented from time to time.

  • Indemnified Taxes means Taxes other than Excluded Taxes.

  • Base Taxes means Taxes for the calendar year specified as the Base Year in the Basic Lease Information.

  • Sales Tax Revenues means taxes collected under the Virginia Retail Sales and Use Tax Act

  • After-imposed tax means any new or increased tax or duty, or tax that was exempted or excluded on the contract date but whose exemption was later revoked or reduced during the contract period, other than excepted tax, on the transactions or property covered by this contract that the Contractor is required to pay or bear as the result of legislative, judicial, or administrative action taking effect after the contract date.

  • 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.