Reverse Timing Difference definition

Reverse Timing Difference means an increase in income, gain or recapture, or a decrease in deduction, loss or credit, as calculated for Income Tax purposes, of the taxpayer for the Tax Indemnification Period coupled with an increase in deduction, loss or credit, or a decrease in income, gain or recapture, of the taxpayer for any Post-Tax Indemnification Period.

Reverse Timing Difference means an increase in income, gain or recapture, or a decrease in deduction, loss or credit, as calculated for Income Tax purposes, of the taxpayer for any Tax Indemnification Period coupled with an increase in deduction, loss or credit, or a decrease in income, gain or recapture, of the taxpayer for any Post-Tax Indemnification Period.

Reverse Timing Difference means an adjustment to a Tax Return that results in (a) an increase in income, gain or recapture, or a decrease in deduction, loss or credit, of any member of the SpinCo Group for a Post-Closing Tax Period and (b) an increase in deduction, loss or credit, or a decrease in income, gain or recapture, of any Parent Entity for any Pre-Closing Tax Period.

Examples of Reverse Timing Difference in a sentence

• The failure to have taken such actions as shall have been legally available and necessary or appropriate to obtain the Income Tax Benefits resulting from such Reverse Timing Difference shall not relieve Networks from the obligation to make the payments that would have been due from Networks under Section 9.b had Networks (or the appropriate members of the Networks Group) taken such actions.

• The failure to have taken such actions as shall have been legally available and necessary or appropriate to obtain the Income Tax Benefits resulting from such Reverse Timing Difference shall not relieve Xxxxxx from the obligation to make the payments that would have been due from Xxxxxx under Section 6.b had Xxxxxx (or the appropriate members of the Xxxxxx Post-Merger Group) taken such actions.

More Definitions of Reverse Timing Difference

Reverse Timing Difference means an increase in income, gain or recapture, or a decrease in deduction, loss or credit, as calculated for Income Tax purposes, of the taxpayer for any taxable period coupled with an increase in deduction, loss or credit, or a decrease in income, gain or recapture, of the taxpayer or a related taxpayer for the same or a subsequent taxable period.

Reverse Timing Difference means an adjustment to an Income Tax Return that results in (x) an increase in income, gain or recapture, or a decrease in deduction, loss or credit, as calculated for Income Tax purposes, of any member of the General Signal Consolidated Group for any Pre-Distribution Taxable Period or the portion of a Straddle Period ending on the Distribution Date and (y) an increase in deduction, loss or credit, or a decrease in income, gain or recapture, of a member of the Networks Group for a Post-Distribution Taxable Period or the portion of a Straddle Period beginning on the day after the Distribution Date.