Maximum Federal Corporate Tax Rate definition

Maximum Federal Corporate Tax Rate means the maximum rate of income taxation imposed on corporations pursuant to Section 11(b) of the Code, as in effect from time to time (or, if as a result of a change in the Code, the rate of income taxation imposed on corporations generally shall not be applicable to the Purchaser, the maximum statutory rate of federal income taxation which could apply to the Purchaser).

Maximum Federal Corporate Tax Rate means the maximum rate of income taxation imposed on corporations pursuant to Section 11(b) of the Code, as in effect from time to time (or, if as a result of a change in the Code, the rate of income taxation imposed on corporations generally shall not be applicable to the Bank, the maximum statutory rate of federal income taxation which could apply to the Bank).

Maximum Federal Corporate Tax Rate means the maximum rate of income taxation imposed on corporations pursuant to Section 11(b) of the Code, determined without regard to tax rate or tax benefit make-up provisions such as the last two sentences of Section 11(b)(1) of the Code, as in effect from time to time (or, if as a result of a change in the Code the rate of income taxation imposed on corporations shall not be applicable to the Bondholder, the maximum statutory rate of federal income taxation which could apply to the Bondholder). The Maximum Federal Corporate Tax Rate on the date of execution of this bond is 35%.

Examples of Maximum Federal Corporate Tax Rate in a sentence

• The prior interest rate of 1.92% was increased subject to the change in the Maximum Federal Corporate Tax Rate as passed as part of the Tax Cut and Jobs Act of 2017.

• This is at the request of both the VMFA and the Bank.The interest rate adjustments are due to the change in the Maximum Federal Corporate Tax Rate effective 1/1/2018 and both debt instruments were automatically adjusted upward.

• The Margin Rate Factor equals the product of one (1) minus the Maximum Federal Corporate Tax Rate (as such terms are defined under the Series 2009 Indenture) on the date of calculation multiplied by 1.53846, and is equal to 1.0 so long as the Maximum Federal Corporate Tax Rate equals 35%.

• Non-DTC registered CUSIP Taxability: Upon a determination of taxability subsequent to the delivery ofthe Notes, the rate on the Notes will automatically adjust to a rate equal to the product of the (i) Fixed Rate on the Notes and(ii) one divided by one minus the prevailing Maximum Federal Corporate Tax Rate.

• The effective date of any change in the Margin Rate Factor shall be the effective date of the decrease of increase (as applicable) in the Maximum Federal Corporate Tax Rate resulting in such change.

More Definitions of Maximum Federal Corporate Tax Rate

Maximum Federal Corporate Tax Rate means, for any day, the maximum rate of income taxation imposed on corporations pursuant to Section 11(b) of the Code, as in effect as of such day (or, if as a result of a change in the Code, the rate of income taxation imposed on corporations generally shall not be applicable to the Lessor, the maximum statutory rate of federal income taxation which could apply to the Lessor as of such day.

Maximum Federal Corporate Tax Rate means, on any given day, the maximum rate of income taxation imposed on corporations pursuant to Section 11(b) of the Internal Revenue Code, as in effect from time to time (or, if as a result of a change in the Internal Revenue Code, the rate of income taxation imposed on corporations generally shall not be applicable to the Lender, the maximum statutory rate of federal income taxation which could apply to the Lender).

Maximum Federal Corporate Tax Rate means the maximum marginal statutory rate of federal tax, as in effect from time to time, imposed upon the income of corporations generally pursuant to Title 26 U.S.C. § 11.(whether or not any Bondholder is actually taxed at such maximum marginal statutory rate).

Maximum Federal Corporate Tax Rate means the highest marginal Federal income tax rate applicable at the time of reference to corporate taxpayers under Section 11(b)(1) of the Code or any similar successor provision, without regard to the increase in tax provided for by the final two sentences of such Section 11(b)(l) or any similar successor provision.

Maximum Federal Corporate Tax Rate means the maximum rate of income taxation imposed on corporations pursuant to Section 11(b) of the Code, as in effect from time to time (or, if as a result of a change in the Code, the rate of income taxation imposed on corporations

Maximum Federal Corporate Tax Rate means the maximum rate of income taxation imposed on corporations generally and applicable to the highest segment of taxable income pursuant to Section 11(b) of the Code, as in effect from time to time (or if, as a result of a change in the Code, the rate of income taxation imposed on corporations generally shall not be applicable to the Lender, the statutory rate of federal income taxation applicable to the highest segment of taxable income which could apply to the Lender). The Maximum Federal Corporate Tax Rate on the date of issuance of the Bonds is 21%.

Maximum Federal Corporate Tax Rate means the maximum rate of income taxation imposed on corporations pursuant to Section 11(b) of the Code, as in effect from time to time (or, if as a result of a change in the Code, the rate of income taxation imposed on corporations generally shall not be applicable to the Initial Purchaser, the maximum statutory rate of federal income taxation which could apply to the Initial Purchaser) (and the Initial Purchaser hereby agrees, at any time that it is not the Purchaser, that it shall provide the rate contemplated by the foregoing parenthetical clause to the Purchaser upon reasonable prior written request from the Purchaser from time to time). As of the Effective Date, the Maximum Federal Corporate Tax Rate is 35%.