Liability for Taxes definition

Liability for Taxes. As set forth in the Disclosure Statement for Debtors’ Joint Plan of Liquidation filed in this Case (No. 13-34483 (GMB)) the Settlors of the Liquidating Trust shall be the Holders of Allowed General Unsecured Claims under the Plan or any successors to such Holders, and based on their status as both Settlors and Beneficiaries under the Liquidation Trust, the Holders of Allowed General Unsecured Claims or any successors to such persons, shall be liable to make all payments of “Taxes” as set forth in this Article 1.4. See Treas. Regs. §§ 1.671-2(e)(1), 1.671-2(e)(3). The Trustee for the Liquidation Trust is neither liable for any failure on the part of the Trustee to withhold and pay over or otherwise make payment of any Taxes owed by the Beneficiaries nor shall distribute any assets from the Liquidation Trust for the payment of the taxes for which the Beneficiaries are individually liable unless pursuant to Court order from a court having jurisdiction over the Liquidation Trust.
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Examples of Liability for Taxes in a sentence

  • The Company has no Liability for Taxes of any Person (other than the Company) under Treasury Regulations Section 1.1502-6 (or any corresponding provision of state, local or foreign Law), as transferee or successor, by contract or otherwise.

  • The Target Company has no Liability for Taxes of any Person (other than the Target Company) under Treasury Regulations Section 1.1502-6 (or any corresponding provision of state, local or foreign Law), as transferee or successor, by contract or otherwise.

  • Since the date of the Company Unaudited Interim Balance Sheet, the Company has not incurred any material Liability for Taxes outside the Ordinary Course of Business.

  • Since the date of the Company Unaudited Interim Balance Sheet, neither the Company nor any of its Subsidiaries has incurred any material Liability for Taxes outside the Ordinary Course of Business.

  • Since the Parent Balance Sheet Date, neither Parent nor any of its Subsidiaries has incurred any material Liability for Taxes outside the Ordinary Course of Business.

  • Neither the Company nor any of its Subsidiaries has incurred any material Liability for Taxes since the date of the Company’s most recent financial statements included in the Company SEC Documents outside of the ordinary course of business or otherwise inconsistent with past practice.

  • Since the Statement Date, no Group Company has incurred any Liability for Taxes outside the ordinary course of business or otherwise inconsistent with past custom and practice.

  • Royale has no Liability for Taxes of any Person (other than the Royale Parties) under Treasury Regulations Section 1.1502-6 (or any corresponding provision of state, local or foreign Law), as transferee or successor, by contract or otherwise (other than pursuant to any agreement entered into in the ordinary course of business with incidental tax provisions, such as loan agreements, leases, and hedging contracts).

  • The Company has no Liability for Taxes of any Person (other than the Company) under Treasury Regulations Section 1.1502-6 (or any corresponding provision of state, local, or foreign Law), as transferee or successor, by contract, or otherwise.

  • The Company has no Liability for Taxes of any Person (other than the Company) under Treasury Regulations Section 1.1502-6 (or any corresponding provision of state, local, or foreign Law), as transferee or successor, by contract or otherwise.