Tax Indemnification Obligation definition

Tax Indemnification Obligation shall have the meaning given it in Section 12.2.3.

Examples of Tax Indemnification Obligation in a sentence

  • Estimation of the Tax Indemnification Obligation: After taking into account the Indemnity Cap, the estimated indemnification of MPC Taxes is equal to $303,750,000.

  • The term "Tax Indemnification Obligation" shall have the meaning set forth in Section 12.2.3.

  • The basis for any claims relating to the Federal Income Tax Indemnification Obligation, and any limitations thereon, pursuant to the terms of the Purchase Agreement shall be governed by the terms and provisions of Section 8.03 of the Purchase Agreement, and such agreement shall be controlling between Purchaser and Seller for all purposes of this Escrow Agreement and shall be applicable between Purchaser and Seller to the extent it is inconsistent with any provisions hereof.

  • With respect to Taxes imposed by any state listed on Exhibit B (each a "Nexus State"), the Tax Indemnification Obligation --------- shall be limited to Taxes in connection with Orders received by Distributor from Seller [***].

  • Section 1.04(b) of the Purchase Agreement provides that at the Closing, Purchaser shall deliver to the Escrow Agent $45,000,000 of the Initial Purchase Price, as security for Seller's Federal Income Tax Indemnification Obligation to be held and released in accordance with the terms of this Agreement.

  • Impact of transformational leadership on follower development and performance: A field experiment.

  • The Tax Indemnification Obligation shall be increased by and include interest on any sum not paid when due, at the rate of [***] per annum, compounded annually, until paid.

  • To the extent, on January 1, 2005, the After-Tax Reserve exceeds the total of any and all liability of Distributor for Taxes paid or incurred to each Nexus State in connection with Orders received by Distributor from Seller on or after [***], that excess shall be applied to any unpaid Tax Indemnification Obligation.

  • For the purpose of the projections, the aggregate Offering Premium is assumed to be zero.Estimation of the Tax Indemnification Obligation: Based on the calculations above, the Excess Surplus Amount is equal to $281 million.

  • For the purpose of the projections, the aggregate Offering Premium is assumed to be zero.Estimation of the Tax Indemnification Obligation: After taking into account the Indemnity Cap, the estimated indemnification of MPC Taxes is equal to $303,750,000.

Related to Tax Indemnification Obligation

  • Indemnification Obligation means any existing or future obligation of any Debtor to indemnify current and former directors, officers, members, managers, sponsors, agents or employees of any of the Debtors who served in such capacity, with respect to or based upon such service or any act or omission taken or not taken in any of such capacities, or for or on behalf of any Debtor, whether pursuant to agreement, letters, the Debtors’ respective memoranda, articles or certificates of incorporation, corporate charters, bylaws, operating agreements, limited liability company agreements, or similar corporate or organizational documents or other applicable contract or law in effect as of the Effective Date.

  • Indemnification Obligations means each of the Debtors’ indemnification obligations in place as of the Effective Date, whether in the bylaws, certificates of incorporation or formation, limited liability company agreements, other organizational or formation documents, board resolutions, management or indemnification agreements, or employment or other contracts, for their current and former directors, officers, managers, members, employees, attorneys, accountants, investment bankers, and other professionals and agents of the Debtors.

  • Indemnity Obligations means all obligations of the Company to Indemnitee under this Agreement, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

  • Indemnification Cap has the meaning set forth in Section 9.4(a).

  • Indemnification Claim has the meaning set forth in Section 8.4(a).

  • Indemnification Escrow Fund has the meaning set forth in Section 2.12(a).

  • Indemnification Claim Notice has the meaning set forth in Section 11.3.

  • Indemnification Escrow Amount has the meaning set forth in Section 2.2(b).

  • Tax Indemnified Party shall have the meaning set forth in Section 7.6(d).

  • Tax Indemnity Agreement means that certain Tax Indemnity Agreement [NW ____ _], dated as of the date hereof, between the Owner Participant and Lessee, as originally executed or as modified, amended or supplemented pursuant to the applicable provisions thereof.

  • Indemnification Period means the period of time during which Indemnitee shall continue to serve as a director or as an officer of the Corporation, and thereafter so long as Indemnitee shall be subject to any possible Proceeding arising out of acts or omissions of Indemnitee as a director or as an officer of the Corporation.

  • Indemnity, Subrogation and Contribution Agreement means the Indemnity, Subrogation and Contribution Agreement among Xxxxx 0, the Borrower, the Subsidiary Loan Parties and the Collateral Agent, substantially in the form of Exhibit C-3.

  • Indemnification Escrow Agreement means an agreement in substantially the form attached hereto as Exhibit B, between the Escrow Participant, the Escrow Agent and the Purchaser with respect to the Indemnification Escrow Shares to reflect the terms set forth in Section 10.3.

  • Indemnification Notice has the meaning set forth in Section 11.3(a).

  • Indemnity Matters means any and all actions, suits, proceedings (including any investigations, litigation or inquiries), claims, demands and causes of action made or threatened against a Person and, in connection therewith, all losses, liabilities, damages (including, without limitation, consequential damages) or reasonable costs and expenses of any kind or nature whatsoever incurred by such Person whether caused by the sole or concurrent negligence of such Person seeking indemnification.

  • Indemnification Provisions means each of the Debtors’ indemnification provisions currently in place whether in the Debtors’ bylaws, certificates of incorporation, other formation documents, board resolutions, or contracts for the current and former directors, officers, managers, employees, attorneys, other professionals, and agents of the Debtors and such current and former directors’, officers’, and managers’ respective Affiliates.

  • Indemnification Threshold has the meaning set forth in Section 11.5.

  • Indemnification Expenses shall have the meaning set forth in Section 6.11(a).

  • Indemnity Claim has the meaning set forth in Section 8.3.

  • Indemnification Event means any event, action, proceeding or claim for which a Person is entitled to indemnification under this Agreement.

  • Tax Indemnity means the deed of covenant against taxation, in the Agreed Terms, to be entered into on the Closing Date between the Seller and the Purchaser;

  • Indemnified Matters has the meaning specified therefor in Section 12.15.

  • Indemnity Cap has the meaning set forth in Section 9.2(b).

  • Indemnification Agreements shall have the meaning set forth in Section 6.01(a).

  • Indemnification means an agreement of indemnity or a release from liability where the intent or effect is to shift or limit in any manner the potential liability of the person or firm for failure to adhere to applicable auditing or professional standards, whether or not resulting in part from knowing of other misrepresentations made by the insurer or its representatives.

  • Tax Indemnifying Party shall have the meaning set forth in Section 7.6(d).