Tax Disallowance definition

Tax Disallowance means (i) the reduction, directly or indirectly, of any deduction (including, but not limited to, any deduction under Section 265 of the Code), exclusion (including, but not limited to, the exclusion provided in Section 812(g) of the Code), credit or other allowance that would, but for the Change in Law, have been allowable in computing any Noteholder's liability for any Federal tax, whether currently in existence or not, including, but not limited to, the tax imposed under Section 11 of the Code, or any successor thereto, (ii) the imposition of any Federal tax or levy of any nature (including, but not limited to, preference, excise or alternative minimum taxes), (iii) the increase in any rate of Federal tax (other than an increase in the Federal Tax Rate), rate of inclusion (other than an increase in the Inclusion Rate) of any item of adjustment to the alternative minimum taxable income of the Noteholder or levy upon any Noteholder (including, but not limited to, preference, excise or alternative minimum taxes) on some or all of the payments on the Notes, or (iv) any reduction in the after-tax yield on any Note to any Noteholder, based upon with respect to the Series A Notes, a 10.69% fully taxable Note, and with respect to the Series B Notes, a 10.87% fully taxable Note using the then current Federal Tax Rate and Inclusion Rate in Section 2.10(a).).
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Tax Disallowance means (I) the reduction directly or indirectly of ---------------- any deduction (including, but not limited to, any net operating loss deduction or the extension of the provisions of Sections 265 (a) (2) or (b) of the Code), exclusion (including, but not limited to, the exclusion provided in Section 812 (g) of the Code), credit or other allowance that would but for the Change of Law, have been allowable in computing the Purchaser's liability for any Federal tax, whether currently in existence or not, including, but not limited to, the tax imposed under Section 11 of the Code, or any successor thereto, (ii) the imposition of any Federal tax or levy of any nature (including, but not limited to, preference, excise or alternative minimum taxes), (iii) the increase in any rate of Federal tax, rate of inclusion of any item of adjustment to the alternative minimum taxable income of an Indemnitee, or levy upon an Indemnitee (including, but not limited to, preference, excise or alternative minimum taxes) on some or all of the payments on the Notes, or (iv) any reduction in the net after-tax yield on any Note to an Indemnitee (using the then current Federal Tax Rate and Inclusion Rate) below the after-tax yield on a fully taxable Note bearing interest at the Gross-Up Rate.
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Examples of Tax Disallowance in a sentence

  • He brings the story to a conclusion.(i) He appeared at a time when the hunt for Ralph has reached its climax.

  • Mintz, Tax Disallowance of Loss on Sales Between Related Companies or Individuals, 4 U.

  • Income Tax Disallowance of claim – Appeal U/s 250 for U/S 80 HHC Assessment Year 2002-03 Before Appellate Tribunal.

  • The Group Leader should then present a 5-10 minutes summary – reviewing the Simulation Game whilst emphasising what actually happened.George Antonius(1891-1942)The Arab Nationalists:CHARACTER GUIDANCE NOTES George Antonius was a Lebanese-Egyptian author and diplomat who lived much of his life in Jerusalem.

  • Although data specifically on organic agriculture are not included until now, there are very concrete plans to integrate statistics on organic agriculture both in FADN, Production statistics and FSS with beginning in 2005.

  • Tier Salary Cap, referencing Total Vendor Revenue:– < $1 million = $100,000– $1 million - $5 million = $125,000 Salary Disallowance – > $5 million = $175,000= % Disallowance = 12.50%= $ Disallowance = $6,250= Fringe and Tax ReportedFringe and Tax Disallowance = 36.04%...

  • Letters written to co-defendant Derry Thomas by Complainant Samuel Robinson directly impeach his trial testimony and provide evidence exculpatory to Mr. Youngblood.

Related to Tax Disallowance

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • Tax Benefit means any refund, credit, or other item that causes reduction in otherwise required liability for Taxes.

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • Tax Benefit Schedule is defined in Section 2.02 of this Agreement.

  • Tax Distribution has the meaning set forth in Section 4.4.

  • Tax Benefits means the net operating loss carryovers, capital loss carryovers, general business credit carryovers, alternative minimum tax credit carryovers and foreign tax credit carryovers, as well as any loss or deduction attributable to a “net unrealized built-in loss” within the meaning of Section 382 of the Code and the Treasury Regulations promulgated thereunder, of the Company or any of its Subsidiaries.

  • Base Taxes means the Taxes payable for the Base Tax Year.

  • Tax Payment means either the increase in a payment made by an Obligor to a Finance Party under Clause 12.2 (Tax gross-up) or a payment under Clause 12.3 (Tax indemnity).

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • Severance Costs means the costs which the employers are legally obliged to pay to or in respect of the Crew as a result of the early termination of any employment contract for service on the Vessel.

  • Tax Amount has the meaning set forth in Section 4.01(b)(i).

  • Net After-Tax Benefit means the Present Value of a Payment net of all federal state and local income, employment and excise taxes imposed on Executive with respect thereto, determined by applying the highest marginal rate(s) applicable to an individual for Executive’s taxable year in which the Change in Control occurs.

  • Excise Taxes see Section 5.1.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • Non-Cash Compensation Expense means any non-cash expenses and costs that result from the issuance of stock-based awards, partnership interest-based awards and similar incentive based compensation awards or arrangements.

  • Book-Tax Disparity means with respect to any item of Contributed Property or Adjusted Property, as of the date of any determination, the difference between the Carrying Value of such Contributed Property or Adjusted Property and the adjusted basis thereof for federal income tax purposes as of such date. A Partner’s share of the Partnership’s Book-Tax Disparities in all of its Contributed Property and Adjusted Property will be reflected by the difference between such Partner’s Capital Account balance as maintained pursuant to Section 5.5 and the hypothetical balance of such Partner’s Capital Account computed as if it had been maintained strictly in accordance with federal income tax accounting principles.

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Income Tax Expense means, with respect to the Borrowers, for any period, the aggregate, without duplication, of all Taxes on the income of such Person for such period, whether current or deferred, determined on a Modified Consolidated Basis.

  • Allocated Loss Adjustment Expenses or “ALAE” means all court costs and court expenses; pre- and post-judgement interest; fees for service of process; attorneys’ fees; cost of undercover operative and detective services, costs of employing experts; costs for legal transcripts; costs for copies of any public records; costs of depositions and court-reported or recorded statements; costs and expenses of subrogation; and any similar fee, cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a loss or a claim or suit against you, or to the protection and perfection of your or our subrogation rights.

  • Tax Expense means, for any period, the tax expense (including federal, state, provincial, local, foreign, franchise, excise and foreign withholding taxes) of the Loan Parties and their Subsidiaries, including any penalties and interest relating to any tax examinations for such period, determined on a consolidated basis in accordance with GAAP.

  • Excise Tax means the excise tax imposed by Section 4999 of the Code, together with any interest or penalties imposed with respect to such excise tax.

  • Taxable Allocation means, with respect to any Series, the allocation of any net capital gains or other income taxable for federal income tax purposes to a dividend paid in respect of such Series.