Sales Tax Reserve definition

Sales Tax Reserve means initially $100,000 and thereafter an amount, reasonably determined by the Administrative Agent from time to time based upon, for any applicable period, the average daily portion during such period of the Outstanding Balances of Eligible Receivables owned by the Borrower that constitutes sales or use taxes payable by the related Obligors and specified by written notice by the Administrative Agent to the Borrower, the Master Servicer and the Facility Agents.
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Sales Tax Reserve means, at any time of determination, the aggregate accruals for sales or use taxes payable by Obligors as of such time on the books and records of the Sellers, determined on a consistent basis in accordance with GAAP as of the last day of the most recent Monthly Period for which a Monthly Report has been delivered. The Sales Tax Reserve as of last day of the preceding Monthly Period shall be included in each Monthly Report, and that number shall be the applicable Sales Tax Reserve until the delivery of the next Monthly Report.
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Sales Tax Reserve a reserve equal to 100% of the aggregate sales tax obligations of Borrowers as set forth in Borrowers’ books and records as of any measurement date which have not been prepaid by Borrowers.
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Examples of Sales Tax Reserve in a sentence

  • The Finance Director estimates $58M will be available in Water Sales Tax Reserve to pay in cash before needing to borrow approximately $76M.


More Definitions of Sales Tax Reserve

Sales Tax Reserve means, at any time, an amount equal to Borrower's good faith estimate of the accrued but unpaid (whether or not yet due) sales tax collected from Borrower's customers.
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Sales Tax Reserve means, as of any Calculation ------------------ Date, an amount equal to 5% of Eligible Accounts Receivable at such Calculation Date.
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Sales Tax Reserve means, on any day for any Borrower, two percent (2%) of such Borrower's retail sales made within forty-five (45) days of such day.
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Sales Tax Reserve means a reserve in the amount of $700,000 which reserve shall terminate and be released upon delivery to the Agent of documentation acceptable to the Agent indicating either a favorable final determination of the sales tax assessment or payment of the sales tax assessment currently being asserted against the Borrower by the State of New Jersey.
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Sales Tax Reserve means a reserve against the Borrowing Base, to be reflected on each Borrowing Base Certificate submitted by Borrower, equal to the amount, if any, by which Borrower's obligations for the remittance of sales and use taxes payable to Governmental Authorities exceed $5,500,000.
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Related to Sales Tax Reserve

  • Sales Tax Revenues means taxes collected under the Virginia Retail Sales and Use Tax Act

  • Gross receipts tax means any gross receipts, sales, use, excise, value added or any similar tax.

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

  • Sales Taxes means any sales, use, consumption, goods and services, value added or similar tax, duty or charge imposed pursuant to Applicable Law.

  • Transaction Payroll Taxes means the employer portion of any employment or payroll Taxes with respect to any bonuses, severance, option cashouts, Change in Control Payments or other compensatory payments in connection with the transactions contemplated by this Agreement, whether payable by Buyer, the Company or its Subsidiaries.

  • Sales Tax means all applicable provincial and federal sales, use, value-added or goods and services taxes, including GST/HST;

  • Income Tax Expense means for Borrower and its Subsidiaries, on a consolidated basis for any period, all state and federal franchise or income taxes paid or due to be paid during such period.

  • Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State.

  • MUNICIPAL TAXABLE INCOME means the following:

  • Tax Revenue means, with respect to the Project Area, (a) those tax revenues referred to (1) in the last sentence of the first paragraph of Article VIII, Section 12 of the Constitution of the State and (2) in Section 18-2147, Reissue Revised Statutes of Nebraska, as amended, and (b) all payments made in lieu thereof.

  • Applicable Tax State means the State in which the Owner Trustee maintains its Corporate Trust Office, the State in which the Owner Trustee maintains its principal executive offices and the State of Michigan.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Goods and Services Tax (Compensation to States) Act means the Goods and Services Tax (Compensation to States) Act, 2017;

  • Goods and Services Tax or “GST” means the goods and services tax chargeable under the Goods and Services Tax Act (Cap. 117A);

  • Production Payments and Reserve Sales means the grant or transfer by the Company or any of its Restricted Subsidiaries to any Person of a royalty, overriding royalty, net profits interest, Production Payment, partnership or other interest in Oil and Gas Properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such properties where the holder of such interest has recourse solely to such production or proceeds of production, subject to the obligation of the grantor or transferor to operate and maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner or other customary standard or subject to the obligation of the grantor or transferor to indemnify for environmental, title or other matters customary in the Oil and Gas Business, including any such grants or transfers pursuant to incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists or other providers of technical services to the Company or any of its Restricted Subsidiaries.

  • Consolidated Income Tax Expense means, for any period, all provisions for taxes based on the gross or net income of Borrower (including, without limitation, any additions to such taxes, and any penalties and interest with respect thereto), and all franchise taxes of Borrower, as determined on a Consolidated basis and in accordance with GAAP.

  • Special Tax Requirement means that amount required in any Fiscal Year to: (i) pay debt service on all Outstanding Bonds; (ii) pay periodic costs on the Bonds, including but not limited to, credit enhancement and rebate payments on the Bonds; (iii) pay Administrative Expenses; (iv) pay any amounts required to establish or replenish any reserve funds for all Outstanding Bonds; (v) pay directly for the acquisition or construction of facilities authorized to be financed by IA No. 2 to the extent that inclusion of such amount does not increase the Special Tax levy on Undeveloped Property; and (vi) pay for reasonably anticipated Special Tax delinquencies based on the historical delinquency rate for IA No. 2 as determined by the CFD Administrator; less (vii) a credit for funds available to reduce the annual Special Tax levy, as determined by the CFD Administrator pursuant to the Indenture.

  • goods and services tax practitioner means any person who has been approved under section 48 to act as such practitioner;

  • Estimated Provincial Subsidy means the estimated provincial subsidy calculated in accordance with Applicable Policy.

  • SLDC Charges means the charges levied by the SLDC of the state wherein the Solar Power Project is located;

  • Payroll Taxes means State Unemployment Insurance (SUI), Federal Unemployment Insurance (FUI), and payments pursuant to the Federal Insurance Contributions Act (FICA).

  • United States Tax Compliance Certificate has the meaning specified in Section 3.01.

  • Income Tax Act means the Income Tax Act, 1962 (Act No. 58 of 1962);

  • Pre-Tax Contributions means, for any Participant, the aggregate of the Participant's Basic Pre-Tax Contributions and Supplemental Pre-Tax Contributions contributed to the applicable Pre-Tax Contribution Account.

  • Income Tax Return means any return, declaration, report, claim for refund, or information return or statement relating to Income Taxes, including any schedule or attachment thereto, and including any amendment thereof.

  • Non-Income Tax Return means any Tax Return relating to any Tax other than an Income Tax.