Excess Tax definition

Excess Tax as defined in Section 3.6(g).
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Excess Tax means, with respect to any subsequent TAX Year, the amount, if any, by which the TAX for such subsequent TAX Year exceeds the TAX for the TAX Base Year.
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Excess Tax or "Excess Taxes" shall mean any amount of Taxes payable by Landlord upon the Project in any Tax Year in excess of the Base Tax.
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Examples of Excess Tax in a sentence

  • To the extent that the Excess Tax Items are not used under paragraphs a.

  • The Company shall indemnify Employee for any and all taxes, penalties, additions to tax and interest on tax deficiencies of any kind (collectively, "Taxes") with respect to any and all payments and benefits provided by this Agreement or other agreements with Employee which are subject (if at all) to the excise tax (Excess Tax") pursuant to Section 4999 of the Internal Revenue Code of 1986, as amended.

  • The Company shall make all determinations of the amount of Compensation, Hypothetical Tax Liability, Excess Tax, Actual Tax Liability and Tax Equalization Payment in accordance with this Section 22.

  • The Municipal Revenue Obligation payments shall not be included in the computation of the Village’s constitutional debt limitation, because the Municipal Revenue Obligations payments are limited and conditional, and no taxes have been or will be levied for its payment or Excess Tax Increment or other taxes pledged to its payment.

  • The Village shall not be subject to any liability hereunder, or be deemed to have obligated itself to pay Developer any amounts from any funds except from the Excess Tax Increment, and then only to the extent and in the manner herein specified and in the Development Agreement.

  • Any payment on the Municipal Revenue Obligation shall be payable solely from and only to the extent that the Village has received, as of such Payment Date and after the date of issuance of the Municipal Revenue Obligation, Excess Tax Increment.

  • The Municipal Revenue Obligation shall be payable to Developer in annual installments and solely from Excess Tax Increment generated by the Project.

  • On or before the first day of each month, Tenant shall pay to Landlord a monthly installment equal to one-twelfth of Tenant’s Share of Landlord’s estimate of the Expense Excess, Tax Excess and the Insurance Expense Excess.

  • The Municipal Revenue Obligation nor the Excess Tax Increment shall be used or applied, in whole or in part, to the payment or reimbursement of any real, personal or other property taxes.

  • Any such Excess Tax Distribution shall be treated as an advance against and, thus, shall reduce (without duplication), any future distributions that would otherwise be made to PubCo pursuant to Sections 6.1 and 6.2(a).


More Definitions of Excess Tax

Excess Tax means the difference, if any, between the amount described in division (A)(2)(a) of this section and the amount described in division (A)(2)(b) of this section:
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Excess Tax has the meaning set forth in Section 4.3.
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Related to Excess Tax

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • 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).

  • Tax Payment means either the increase in a payment made by an Obligor to a Finance Party under Clause 12.2 (Tax gross-up) or a payment under Clause 12.3 (Tax indemnity).

  • Gross receipts tax means any gross receipts, sales, use, excise, value added or any similar tax.

  • Use tax means a nonrecurring tax, other than a sales tax, which (a) is imposed on or with respect to the exercise or enjoyment of any right or power over tangible personal property incident to the ownership, possession or custody of that property or the leasing of that property from another including any consumption, keeping, retention, or other use of tangible personal property and (b) is complementary to a sales tax.