Tax Benefit Amount is defined in Section 4.6.1(a).
Tax Benefit Amount means the ------------------ cumulative excess (if any) of (A) the Taxes that would have been payable by Endo and its Subsidiaries for all taxable periods or portions thereof after the Effective Date if none of the Endo LLC Options had been exercised over (B) the actual Taxes payable by Endo and its Subsidiaries for such periods. For the avoidance of doubt and for purposes of this Section 1(d), in order to determine the Tax Benefit Amount for any taxable period of Endo and its Subsidiaries in which a net operating loss carryforward deduction ("NOL") is utilized, the --- portion of the NOL attributable to deductions resulting from the exercise of Endo LLC Options shall be treated as utilized last. By way of example, and solely for the avoidance of doubt, if Endo has a loss for tax purposes in Year 1 of $100, consisting of $65 of deductions attributable to the exercise of Endo LLC Options and $35 of deductions attributable to interest expense, and in Year 2 Endo has $40 of taxable income prior to application of the NOL, $35 of the $40 NOL applied against Year 2 income will be deemed to be attributable to the interest expense and $5 of the NOL will be deemed attributable to the exercise of the Endo LLC Options. Therefore, the Tax Benefit Amount would be the Taxes that would have been payable by Endo if its NOL in Year 2 had been only $35. The NOL carryforward to Year 3 of $60 would then be treated as consisting entirely of deductions resulting from the exercise of the Endo LLC Options.
Tax Benefit Amount means, with respect to the payment of a liability by a Party or any of its Subsidiaries, an amount equal to the reduction in Taxes due and payable during the Tax Benefit Period resulting from the payment of such liability, as determined at any relevant time (including, for the avoidance of doubt, at any time during the Tax Benefit Period), which for each taxable period during the Tax Benefit Period, shall equal the sum of:
Examples of Tax Benefit Amount in a sentence
Then such method allocates an additional amount (the "Tax Benefit Amount") to each Member up to, but not greater than, the excess, if any, of its Separate Return Tax liability (other than AMT and its related credits) over the amount allocated to such Member in the previous sentence.
The total of the Tax Benefit Amounts allocated to Members shall result in payments to, and an increase in the earnings and profits of, the Members who had items of deduction, loss or credits to which such Tax Benefit Amount is attributable.
In the event that Astellas (including its successors, transferees, and assigns) makes an additional payment to Ironwood under this paragraph and Astellas’s deduction or withholding of Tax results in a Tax Benefit Amount for any taxable year, Ironwood will so notify Astellas and, within 12 months of the close of the taxable year, promptly pay to Astellas the Tax Benefit Amount.
As soon as the amount of the realized tax benefit has been confirmed, the Indemnifying Party shall pay to the Indemnified Party the difference between the withheld Anticipated Tax Benefit Amount and the actually realized tax benefit.
The amount of the Employers' Tax Benefit Amount shall be determined by the Accounting Firm (as defined in Section 3.9).
More Definitions of Tax Benefit Amount
Tax Benefit Amount means the product of 35% and the expected net operating loss for U.S. federal income purposes for the taxable year beginning on October 1, 2020 and ending on the Closing Date determined by allocating Tax Transaction Expenses to the Pre-Closing Tax Period to the extent permitted by applicable Law, provided that (i) to the extent that the amount of the expected net operating loss for the taxable year beginning on October 1, 2020 exceeds the taxable income shown on the U.S. federal income Tax Returns for the taxable years ended on September 30, 2016 and September 30, 2017, then “24.5%” shall be substituted for “35%” to the extent of such excess, and (ii) to the extent that the amount of the expected net operating loss for the taxable year beginning on October 1, 2020 exceeds the taxable income shown on the U.S. federal income Tax Returns for the taxable years ended on September 30, 2016, September 30, 2017 and September 30, 2018, then “21%” shall be substituted for “24.5%” to the extent of such excess.
Tax Benefit Amount means (A) in the case of the taxable year in which the Earn-out is paid or any subsequent taxable year, the net excess (if any) of (1) the taxes that would have been paid by the Company in respect of such taxable year calculated without taking into account the payment of the Earn-out (and, for the avoidance of doubt, any net operating losses attributable thereto) over (2) the actual taxes payable by the Company in respect of such taxable year and (B) in the case of any taxable year prior to the year in which the Earn-out is paid, the amount of any tax refund resulting from carrying back any net operating losses to the extent attributable to the Earn-out. For the avoidance of doubt and for purposes of this Section 3(g), (i) in order to determine the Tax Benefit Amount for any taxable year of the Company in which a deduction for the Earn-out is utilized, the portion of the Company’s deductions and net operating loss carrybacks and carryforwards attributable to the Earn-out shall be treated as utilized last and (ii) no payment of a Tax Benefit Amount shall be made in respect of estimated tax payments, including, without limitation, federal estimated income tax payments. In the event that any portion of the Tax Benefit Amount is subsequently determined by any taxing authority to be less than the amount paid to the Executive pursuant to this Section 3(g), the Executive shall promptly return any such disallowed amount (plus any interest or penalties in respect of such disallowed amount owed to any taxing authority) to the Company.
Tax Benefit Amount means the amount by which the Tax liabili- ty of the relevant party or an Affiliate thereof or any com- bined, consolidated or unitary group of corporations including the party or such Affiliate is reduced (including, without limitation, by deduction, reduction of income, refund, credit or otherwise) plus any related interest received from a Tax Authority.
Tax Benefit Amount has the meaning specified in Section 7.9(b).
Tax Benefit Amount means the product of (i) 11.375% and (ii) the lesser of (x) the deductible portion for federal income tax purposes of the Transaction Expenses determined in accordance with Section 1.01(b) of the Company Disclosure Schedule and (y) the Section 382 Cap.
Tax Benefit Amount means the actual benefit, stated in dollars, obtained by any Member of the Buyers' Group on account of Relief. For the purposes of calculating the Tax Benefit Amount, (i) the applicable Relief shall be determined by reference to the average Tax rates applicable to such Member of the Buyers' Group in the year in which such determination is being made, (ii) such calculation shall be based upon claims for Relief made against Tax either by way of deduction against taxable profits or otherwise, i.e. when Tax would otherwise have become payable but for Relief, and (iii) the Tax Benefit Amount shall be reduced by any Tax (also determined based upon the average rates of such Member of the Buyers' Group) arising by reason of the deemed repayment or satisfaction of a Loan or otherwise by reason of the structure of the arrangement set forth herein; and if the Tax calculated pursuant to the subsection (iii) exceeds the Tax Benefit Amount, the amount of such excess shall be paid in cash by AWA to Buyers.
Tax Benefit Amount means an amount equal to the sum of (i) the Initial Tax Benefit Amount, plus (ii) the Deferred Tax Benefit Amount, plus (iii) the Indemnification Tax Benefit Amount, plus (iv) the Working Capital Tax Benefit Amount; and