Examples of Section 338 Taxes in a sentence
Following the determination of the Section 338 Taxes and the Non-Section 338 Taxes due in respect of the Applicable XXX Tax Returns, the Seller shall promptly pay to the Buyer in immediately available funds an aggregate amount, if any, equal to the sum of (1) the Non-Section 338 Taxes, if any, plus (2) the Section 338 Taxes, if any, in excess of $403,000.
The Buyer and the Seller shall act reasonably and in good faith to reach an agreement regarding the amount of the Section 338 Taxes and the Non-Section 338 Taxes due with the Applicable XXX Tax Returns.
The Seller shall reimburse the Buyer, in immediately available funds, for the portion of any Tax relating to the Straddle Period that is allocable, in accordance with paragraph (vii) below, to the pre-Closing portion of such Straddle Period other than any Section 338 Taxes.
For the avoidance of doubt, no provision in this Agreement shall be read to require Buyer to pay over any amount of Taxes to Aon that has been reflected as a receivable (or netted against a Tax liability) in the Net Worth Adjustment Report or to require Buyer to indemnify Aon for any Taxes that would be treated as Section 338 Taxes as well as being treated under another provision of this Section 8.1.
The Buyer shall promptly pay to the Seller in immediately available funds an amount equal to the lesser of (x) any third-party advisory fees paid by the Seller in connection with the Section 338 Elections and the analysis and determination of the Section 338 Taxes plus any additional Taxes payable by the Seller's affiliated group as a result of the Buyer's payment of any Section 338 Taxes, or (y) $37,000 (the "Special Section 338 Gross- Up Amounts and Fees").