Income Tax Detriment means for any taxable period the excess of (i) the actual Income Tax liability of the taxpayer for the taxable period, calculated taking into account the Timing Difference or Reverse Timing Difference, as the case may be, over (ii) the hypothetical Income Tax liability of the taxpayer for the taxable period, calculated as if the Timing Difference or Reverse Timing Difference, as the case may be, had not occurred but with all other facts unchanged (treating an Income Tax refund or credit as a negative Income Tax liability for purposes of such calculation).
Income Tax Detriment means the amount of additional Tax incurred by the applicable group, as determined by the Parties. Such amount shall be determined by comparing (i) the actual U.S. federal income Tax and the corresponding U.S. state and local Tax liability (net of any U.S. federal income Tax benefit) of the applicable group for the taxable year in question after giving full effect to the items in question with (ii) the actual U.S. federal income Tax and the corresponding U.S. state and local Tax liability (net of any U.S. federal income Tax benefit) of the applicable group without giving effect to such items. Unless otherwise provided herein, an Income Tax Detriment shall be deemed to be incurred at such time as payment is made to the relevant Taxing authority upon a Final Determination of items in questions. In computing the Tax liability of the EWS Group for purposes of clause (i) of the second sentence of this definition or clause (ii) of the second sentence of the definition of “Income Tax Benefit” above, increases or decreases in the U.S. federal, state or local income Tax liability of the EWS Group attributable to the effect on EWS’ (or any EWS subsidiary’s) basis in the stock of any member of the SNI Group will not be taken into account.
Income Tax Detriment means for any taxable period the excess of (i) the Income tax liability of the taxpayer for the taxable period, calculated taking into account the Timing Difference or Reverse Timing Difference, as the case may be, over (ii) the Income Tax liability of the taxpayer for the taxable period, calculated as if the Timing Difference or Reverse Timing Difference, as the case may be, had not occurred but with all other facts unchanged (treating an Income Tax Refund as a negative Income Tax liability for purposes of such calculation).
Examples of Income Tax Detriment in a sentence
UCRI shall make all such payments within ten days after International notifies UCRI that the relevant Income Tax Detriment has been Actually Realized.
All such payments shall be made within 10 days after the relevant Income Tax Detriment has been Actually Realized and the Group Actually Realizing such Income Tax Detriment notifies the other Group, as the case may be.
Fortune shall make all such payments within ten days after ACCO notifies Fortune that the relevant Income Tax Detriment has been Actually Realized.
Conexant shall make all such payments within ten days after Alpha notifies Conexant that the relevant Income Tax Detriment has been Actually Realized.
With respect to any Taxes, Income Tax Benefit or Income Tax Detriment, "Actually Realized" or "Actually Realizes" means the date on which the relevant party makes a payment to a Taxing Authority (or, if earlier, the date on which such payment is due), the amount of which is increased or decreased (or netted to zero) by the effect of such item, or, if the effect of the item is to increase or decrease the amount of a Tax Refund, the date determined as if the item were a Tax Refund.
More Definitions of Income Tax Detriment
Income Tax Detriment means, in respect of any Person or group of Persons for any taxable period, the excess of (A) the actual Income Tax Liability of such Person or group of Persons for such taxable period, calculated taking into account the carryover of a Tax Attribute, as the case may be, over (B) the hypothetical Income Tax Liability of such Person or group of Persons for such taxable period, calculated as if the carryover of a Tax Attribute had not occurred but with all other facts unchanged (and treating a Refund as a negative Income Tax Liability, and taking into account credits (if any), for purposes of such calculation).
Income Tax Detriment means for any taxable period the excess of (i) the actual Income Tax liability of the taxpayer for the taxable period, calculated taking into account the Timing Difference or Reverse Timing Difference, as the case may be, over (ii) the hypothetical Income Tax liability of the taxpayer for the taxable period, calculated as if the Timing Difference or Reverse Timing Difference, as the case may be, had not occurred but with all other facts unchanged (treating an Income Tax Refund as a negative Income Tax liability for purposes of such calculation). "Income Taxes" means any Tax based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, minimum Tax and any Tax on items of Tax preference, but not including sales, use, real property gains, real or personal property, gross or net receipts, transfer or similar Taxes) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based upon, measured by, or calculated with respect to, is described in clause (i) above. "Indemnitee" has the meaning set forth in Section 5.2. "Indemnitor" has the meaning set forth in Section 5.2. "Indemnity Issue" has the meaning set forth in Section 5.2. "International Group" means International, Daka and Daka's Subsidiaries. "International Tax Item" means a Tax Item that is attributable to the International Group and is not a UCRI Tax Item. "Joint Tax Return" means any Tax Return that includes a member of the International Group and a member of the UCRI Group. "UCRI Group" means UCRI and all other Subsidiaries of UCRI, determined immediately after the Distribution and the Merger. "UCRI Tax Item" means a Tax Item solely attributable to the UCRI Group. "Non-Filing Party" means the group or member of a group which is included in any Tax Return but is not the Responsible Party or a member of the Responsible Party's group with respect to such Tax Return. "Other Taxes" has the meaning set forth in Section 3.1(c). "Post-Distribution Taxable Period" means a taxable period beginning after the Closing Date. "Post-Tax Indemnification Period" means any Post-Distribution Taxable Period and that portion, beginning on the day after the Closing Date, of any Straddle Period. "Pre-Distribution Taxable Period" means a taxable period ending on (and including) or before the Closing Date. "Responsible Party" means the party responsi...
Income Tax Detriment means an increase in the Income Tax Liability of a taxpayer (or of the Affiliated Group of which it is a member) for any Taxable Period. Except as otherwise provided in this Agreement, an Income Tax Detriment shall be deemed to have been realized or suffered from an Income Tax Item in a Taxable Period, only if and to the extent that the Income Tax Liability of the taxpayer (or the Affiliated Group of which it is a member) for such Taxable Period, after taking into account the effect of the Income Tax Item on the Income Tax Liability of such taxpayer in all prior Taxable Periods, is greater than it would have been if such Income Tax Liability were determined without regard to such Income Tax Item. If any Income Tax Detriment of an Income Tax Item is limited for a Taxable Period in a way that creates an Income Tax Detriment in any other Taxable Period, the latter Income Tax Detriment shall be treated as caused by the original Income Tax Item.
Income Tax Detriment means the amount of additional Tax incurred by the applicable group, as determined by the Parties. Such amount shall be determined by comparing (i) the actual U.S. federal income Tax and the corresponding U.S. state and local Tax liability (net of any U.S. federal income Tax benefit) of the applicable group for the taxable year in question after giving full effect to the items in question with (ii) the actual U.S. federal income Tax and the corresponding U.S. state and local Tax liability (net of any U.S. federal income Tax benefit) of the applicable group without giving effect to such items. Unless otherwise provided herein, an Income Tax Detriment shall be deemed to be incurred at such time as payment is made to the relevant Taxing authority upon a Final Determination of items in questions. In computing the Tax liability of the Journal Group for purposes of clause (i) of the second sentence of this definition or clause (ii) of the second sentence of the definition of “Income Tax Benefit” above, increases or decreases in the U.S. federal, state or local income Tax liability of the Journal Group attributable to the effect on Journal’s (or any Journal subsidiary’s) basis in the stock of any member of the Journal Spinco Group will not be taken into account.
Income Tax Detriment means for Income Tax purposes, any increase in taxable income, decrease in tax deduction, decrease in basis of assets, decrease in tax credit, or any change in the character of income or deduction that results in a net increase in the Income Tax liability of Buyer or any of the Companies, and shall be determined by including the net Income Tax paid by reason of the receipt of an indemnification payment or other reimbursement due hereunder or any payment due under the Ultimate Parent Guaranty, in each case related to the Income Tax Detriment.
Income Tax Detriment means for any taxable period the excess of (i) the actual Income Tax liability of the taxpayer for the taxable period, calculated taking into account the Timing Difference or Reverse Timing Difference, as the case may be, over (ii) the hypothetical Income Tax liability of the taxpayer for the taxable period, calculated as if the Timing Difference or Reverse Timing Difference, as the
Income Tax Detriment means with respect to an item the amount of additional Tax incurred by the applicable Group, as determined by Wendy’s in good faith. Such amount shall be equal to (i) the actual U.S. federal income Tax and the corresponding U.S. state and local Income Tax liability (net of any U.S. federal income Tax benefit) of the applicable Group for the taxable year in question, after giving full effect to the item reduced by (ii) the U.S. federal income Tax and the corresponding U.S. state and local Tax liability (net of any U.S. federal income Tax benefit) of the applicable Group without giving effect to such item. A Group shall be considered to realize an Income Tax Detriment, to the extent, and only to the extent, that the amount of Taxes it is actually required to pay to the applicable Tax Authority for a taxable period is increased from the amount of Taxes it would have actually been required to pay to such Tax Authority for such taxable period in the absence of such Income Tax Detriment. Such Income Tax Detriment shall be considered to arise at the time that such Group’s increased payment for such taxable period is first due or otherwise actually realized as a change in the amount of Tax or Refund, reductions or credit of Tax then due and payable.