Panavision Group definition

Panavision Group s State and Local Taxable Income" shall mean the state and local taxable income, computed in a manner consistent with the computation of the Panavision Group's Federal Taxable Income, as defined above, that Panavision and/or any of its Subsidiaries would have reported with respect to each state or local taxing jurisdiction for any Taxable Period for which Panavision and/or any Subsidiary of Panavision participates, with Parent or any Subsidiary of Parent (other than Panavision or any Subsidiary of Panavision), in the filing of a combined state or local income tax return with such jurisdiction if Panavision and/or any Subsidiary of Panavision had filed with each such jurisdiction a separate return (in a case where only one member of the Panavision Group joins in the filing of such combined return) or a combined return including only those members of the Panavision Group actually joining in such combined return (in a case where more than one member of the Panavision Group joins in the filing of such combined return).
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Panavision Group s Federal Taxable Income" for a Taxable Period shall mean the federal taxable income (including, for all purposes of this Agreement, alternative minimum taxable income) for such Taxable period that the Panavision Group would have reported if it had not been included in the consolidated federal income tax return filed for the Parent Group with respect to such Taxable Period but instead had filed its own consolidated return for such Taxable Period; provided, however, that in computing such taxable income, the Panavision Group shall not take into account any amounts paid or payable by Panavision to Parent under Paragraphs 2 or 5 hereof with respect to federal taxes or by Parent to Panavision under Paragraphs 2, 5 or 7 hereof with respect to federal taxes. In computing such taxable income, the Panavision Group shall be entitled to take into account deductions and credits attributable to the carryover or carryback of any losses or credits of Panavision or any Subsidiary of Panavision, but only to the extent that such losses or credits arose in a Taxable Period and after taking into account any limitations on the use of such losses and credits imposed pursuant to Sections 172, 382, 383, 384, 904 or 1212 of the Code or by Treasury Regulations Sections 1.1502-15, 1.1502-15A, 1.1502-15T, 1.1502-20, 1.1502-21, 1.1502-21A, 1.1502-21T, 1.1015-22, 1.1502-22A, 1.1502-22T, 1.1502-91, 1.1502-91A, 1.1502-92, 1.1502-92A, 1.1502-93, 1.1502-93A, 1.1502-94, 1.1502-94A or 1.1502-95.
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Panavision Group s Federal Tax" for a Taxable Period shall mean the federal income tax liability or, if applicable, the federal alternative minimum tax liability for such Taxable Period that the Panavision Group would have incurred if it had not been included in the consolidated federal income tax return filed for the Parent Group with respect to such Taxable Period, but had instead filed its own consolidated return for such Taxable Period; provided that in computing such tax liability for any Taxable Period, the Panavision Group shall not take into account any amounts paid or payable by Panavision to Parent under Paragraphs 2 or 5 hereof with respect to federal taxes or by Parent to Panavision under Paragraphs 2, 5 or 7 hereof with respect to federal taxes. In computing such tax liability, the Panavision Group shall be entitled to take into account deductions and credits attributable to the carryover or carryback of any losses or credits of Panavision or any Subsidiary of Panavision, but only to the extent that such losses or credits arose in a Taxable Period and after taking into account any limitations on the use of such losses and credits imposed pursuant to Sections 172, 382, 383, 384, 904 or 1212 of the Code or by Treasury Regulations Sections 1.1502-15, 1.1502-15A, 1.1502-15T, 1.1502-20, 1.1502-21, 1.1502-21A, 1.1502-21T, 1.1015-22, 1.1502-22A, 1.1502-22T, 1.1502-91, 1.1502-91A, 1.1502-92, 1.1502-92A, 1.1502-93, 1.1502-93A, 1.1502-94, 1.1502-94A or 1.1502-95. If the computation of the Panavision Group's Federal Tax does not result in a positive number, the Panavision Group's Federal Tax shall be deemed to be zero.
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Examples of Panavision Group in a sentence

  • Parent shall undertake any settlement or other action that it is permitted to take pursuant to this Paragraph 10 affecting the income tax liability of any member of the Panavision Group or any amount payable by Panavision to or receivable by Panavision from Parent with the same diligence and care as if such action pertained to an income tax liability of Parent and as if any amount that might be so payable or receivable by Panavision were payable or receivable by Parent.

  • Such estimated federal income tax liability shall be determined consistent with the calculation of the Panavision Group's Federal Tax and shall reflect the estimated taxable income of the Panavision Group projected for three, six, nine and twelve months, respectively.

  • The Panavision Group shall cooperate with Parent in the filing, to the extent permitted by law, of a consolidated federal income tax return and such combined state or local income tax returns for members of the Parent Group as Parent elects to file or cause to be filed, by maintaining such books and records and providing such information as may be necessary or useful in the filing of such returns and executing any documents and taking any actions which Parent may reasonably request in connection therewith.

  • Parent and the Panavision Group shall provide one another with such information concerning such returns and the application of payments made under this Agreement as Parent or the Panavision Group may reasonably request of one another.

  • This Agreement shall determine the liability of Parent and the members of the Panavision Group to each other as to the matters provided for herein, whether or not such determination is effective for purposes of the Code or of state or local revenue laws, or for financial reporting purposes or for any other purposes.

  • No later than five (5) days prior to the extended due date for such return for such Taxable Period, Panavision's payment shall be recalculated, and any difference between (i) the tax liability of the Panavision Group to be reflected on such return and (ii) all prior Estimated Tax Payments with respect to such Taxable Period shall be paid by such fifth day to the party entitled thereto, with interest from the original due date at the relevant statutory rate.

  • This Agreement is intended to calculate and allocate certain federal and state and local income tax liabilities of Parent and the Panavision Group, and any situation or circumstance concerning such calculation and allocation that is not specifically contemplated hereby or provided for herein shall be dealt with in a manner consistent with the underlying principles of calculation and allocation in this Agreement.

  • There are no, and since January 1, 2017, there have been no Actions pending or, to the Knowledge of Panavision, threatened in writing against any member of the Panavision Group for warranty costs that would reasonably be expected to exceed or have exceeded $250,000 individually or $2,000,000 in the aggregate.

  • True, correct and complete copies of all deeds and other instruments by which any member of the Panavision Group acquired the Panavision Owned Real Property and copies of all title insurance policies, surveys, zoning reports and environmental reports relating to the Panavision Owned Real Property have, in each case to the extent in the possession of the Panavision Group been made available to Acquiror.

  • This Agreement is intended to calculate and allocate certain federal, state, local and foreign income tax liabilities of Parent and the Panavision Group, and any situation or circumstance concerning such calculation and allocation that is not specifically contemplated hereby or provided for herein shall be dealt with in a manner consistent with the underlying principles of calculation and allocation in this Agreement.


More Definitions of Panavision Group

Panavision Group means, collectively, Panavision and its Subsidiaries.
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Related to Panavision Group

  • Group the Company and its subsidiaries

  • Aggregation Group means either a Required Aggregation Group or a Permissive Aggregation Group as hereinafter determined.

  • Corporate Group means the Corporation and its Subsidiaries treated as a single consolidated entity.

  • DBS Group means any of DBS’s subsidiaries, DBS’s holding company and any subsidiaries of DBS’s holding company;

  • Service Group means any one or more (as the context may require) of the service groups described in this Schedule;

  • Distribution Company means a distribution company as defined in Section 1 of Chapter 164 of the Massachusetts General Laws.3

  • Defined Benefit Plan means either a plan described in Section 3(35) of ERISA or a plan subject to the minimum funding standards set forth in Section 302 of ERISA and Section 412 of the Code.

  • Required Aggregation Group means: (i) each qualified plan of the Employer in which at least one Key Employee participates at any time during the Determination Period; and (ii) any other qualified plan of the Employer which enables a plan described in clause (i) to meet the requirements of Code Section 401(a)(4) or of Code Section 410.

  • Group health plan means an employee welfare benefit plan as defined in section 3(1) of subtitle A of title I of the employee retirement income security act of 1974, Public Law 93-406, 29 USC 1002, to the extent that the plan provides medical care, including items and services paid for as medical care to employees or their dependents as defined under the terms of the plan directly or through insurance, reimbursement, or otherwise.

  • Client Group means Client, any corporate body of which Client is a subsidiary (as defined by s. 1159 of the Companies Act 2006), any other subsidiary of such corporate body and any subsidiary of Client;

  • ITT means the Purchaser’s invitation to tender dated (date ITT issued).

  • Insurance group means the persons that comprise an insurance holding company system.

  • Asset Management Plan means a plan created by the department and approved by the state transportation commission or a plan created by a local road agency and approved by the local road agency's governing body that includes provisions for asset inventory, performance goals, risk of failure analysis, anticipated revenues and expenses, performance outcomes, and coordination with other infrastructure owners.

  • Comparison Group means a sample group of organisations providing Comparable supply of Services which consists of organisations which are either of similar size to the Supplier or which are similarly structured in terms of their business and their service offering so as to be fair comparators with the Supplier or which, are best practice organisations;

  • Medical Foods means any nutritional substances in any form that are:

  • Service Plan means the Operating Plan and Budget appended as Schedules A and D2a of Schedule D;

  • Homemaker services means the professionally directed or supervised simple household maintenance or management services provided by trained homemakers or individuals to families in their own homes.

  • Plan Sponsor has the meaning given in ERISA Section 3(16)(B).

  • SAP Group means SAP Parent and any of its Associated Companies.

  • Work group means a crew or number of crews which work from a common point of assembly and perform work of a similar nature in a defined seniority block. Where more than one (1) work group works from a common point of assembly the work groups will be defined by the Employer.

  • Controlling Company shall have the meaning set forth in Section 10.02(a) of this Agreement.