Permitted Tax Payments means payment of any liability of HHRI, the Company or any of their respective Subsidiaries for all Federal, state, provincial, local and foreign taxes, and other assessments of a similar nature (whether imposed directly or through withholding), including any interest, additions to tax, or penalties applicable thereto, imposed by any domestic or foreign governmental authority responsible for the administration of any such taxes.
Permitted Tax Payments means, with respect to any year, any distributions to holders of Equity Interests of the Company, or a Restricted Subsidiary in which the Company owns less than 100% of the equity interests, sufficient to provide Holdings with a distribution equal to the amount of federal, state and local income taxes, as reasonably determined by the Company, that have been actually paid or are payable by Holdings.
Permitted Tax Payments means, without duplication as to amounts and as long as the Company is a pass-through entity for U.S. federal income tax purposes, payments to Calpine in an amount equal to the federal, state, local and foreign taxes (including any penalties and interest) that the Company would owe if the Company were a corporation for U.S. federal income tax purposes filing a consolidated or combined return with its Subsidiaries.
Examples of Permitted Tax Payments in a sentence
Notwithstanding the foregoing, no Permitted Tax Payment shall be permitted if (x) a Default or Event of Default exists or would result therefrom or (y) the obligations with respect to any such Permitted Tax Payments are not subordinated in right of payment to the obligations of the Company under the Notes.
More Definitions of Permitted Tax Payments
Permitted Tax Payments means payment of any liability of HMC, the U.S. Borrower or any of their respective Subsidiaries for all Federal, state, provincial, local and foreign taxes, and other assessments of a similar nature (whether imposed directly or through withholding), including any interest, additions to tax, or penalties applicable thereto, imposed by any domestic or foreign governmental authority responsible for the administration of any such taxes.
Permitted Tax Payments means distributions or other payments from Lead Borrower to Global Parent, which will in turn be distributed by Global Parent, in an amount equal to the amounts required under Section 4.01(b), 4.01(c) and 4.01(d) of the First Amended and Restated Limited Liability Company Agreement of Global Parent, dated as of July 10, 2019, as in effect on the date hereof.
Permitted Tax Payments means dividends or distributions paid by Borrower or any Subsidiary of Borrower to its direct or indirect owners to pay the actual cash tax liabilities of such direct or indirect owners (after giving effect to any net operating losses or other credits available to such Person) arising as a result of such Person’s equity in such Borrower or such Subsidiary of Borrower.
Permitted Tax Payments means, with respect to any fiscal year, any distributions to holders of Equity Interests of the Operating Partnership or a Restricted Subsidiary in which the Operating Partnership owns less than 100% of the Equity Interests, sufficient to provide Parent, any other Parent Entity or any REIT Subsidiary with a distribution equal to the amount of federal, state and local taxes, as reasonably determined by Parent, that have been actually paid or are payable by Parent, such Parent Entity or such REIT Subsidiary (taking into account any distributions paid or contemplated by Parent, such Parent Entity or such REIT Subsidiary).
Permitted Tax Payments means, with respect to any fiscal year, any distributions to holders of Equity Interests of the Company or a Restricted Subsidiary in which the Company owns less than 100% of the equity interests, sufficient to provide Parent, any other Parent Entity or any REIT Subsidiary with a distribution equal to the amount of federal, state and local taxes, as reasonably determined by Parent, that have been actually paid or are payable by Parent, such Parent Entity or such REIT Subsidiary (taking into account any distributions paid or contemplated by Parent, such Parent Entity or such REIT Subsidiary).
Permitted Tax Payments means any sales, use, hotel occupancy, admissions or other similar tax (other than income tax) imposed by the Tribe on the Company, the Guarantors, the Resort Property or the patrons of the Resort Business; provided that the rate of any such taxes shall not be more onerous than comparable taxes imposed by the State of New Mexico or its political subdivisions from time to time; provided, however, that if for any month the taxes paid to the Tribe are less than $200,000, the Company and the Guarantors will be permitted to remit to the Tribe the difference between $200,000 and the amount of taxes paid to the Tribe in order to comply with the Tribe’s special assessment school tax.
Permitted Tax Payments means, with respect to any taxable year for which the Borrower is treated as a partnership or disregarded entity for Federal income tax purposes, direct or indirect payments, including any payments by the Borrower or its Subsidiaries to Intermediate Holdings so that Intermediate Holdings can make such payments, to any direct or indirect beneficial holder of any Equity Interests of Intermediate Holdings in an amount equal to the lesser of (i) the amount required to enable such Person to pay any Tax liability arising from such Person’s status as a direct or indirect holder of Equity Interests of Intermediate Holdings or its Subsidiaries, including in accordance with the Parent Organizational Agreement and (ii) the amount equal to the product of (A) the aggregate amount determined in Section 2.1(b)(i) of the Parent Organizational Agreement as in effect on the date hereof allocable to all members of Parent but calculated taking into account only items of income, gain, loss, deduction or credit attributable to Intermediate Holdings, Borrower and their subsidiaries, and (B) 40%; provided that any such payments with respect to any taxable period may be made in quarterly installments during the course of such period using reasonable estimates of the anticipated aggregate amount of such distributions under this definition for such period, (A) with any excess of aggregate installments actually paid with respect to any such period over the amount allowable under this definition for such period reducing the amount of Permitted Tax Payments with respect to the immediately subsequent period (and, to the extent such excess is not fully absorbed in the immediately subsequent period, the following period(s)) and (B) with any excess of the amount allowable for under this definition for such period over the aggregate installments actually paid with respect to any such period increasing the amount of Permitted Tax Payments with respect to the immediately subsequent period.