Tax Liability Distributions definition

Tax Liability Distributions means the cash distributions to which a Member is entitled pursuant to Section 5.01(a) of the LLC Agreement.

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Tax Liability Distributions shall have the meaning given such term in Section 8.2 hereof.

Tax Liability Distributions shall refer to any distribution made to a Member pursuant to Section 5.1.1(a). All Tax Liability Distributions shall be made in cash. The table below sets forth the correspondence between the Tax Liability Distributions made by the Company to the Members with respect to their respective estimated and final tax payments and the related Fiscal Year of the Company. References in the table to “year x” refer to any calendar year, and references to “year x + 1” refer to the subsequent calendar year. In the event the taxable year of the Company no longer corresponds to that of the AMD Member, the table shall be appropriately adjusted. Tax Liability Distributions made to a Member with respect to a particular Fiscal Year of the Company shall also include distributions of any positive Tax Liability Distribution Adjustment made to a Member with respect to such Fiscal Year. Tax Liability Distributions with respect to any Fiscal Year will be reduced by the amount of any negative Tax Liability Distribution Adjustment with respect to a prior Fiscal Year (but only to the extent that any such negative Tax Liability Distribution Adjustment has not been previously applied as a reduction pursuant to this sentence). First quarter estimated (payable July 15, year x) Fiscal Year ending in year x First quarter estimated (payable April 15, year x) Fiscal Year ending in year x Second quarter estimated (payable September 15, year x) Fiscal Year ending in year x Second quarter estimated (payable June 15, year x) Fiscal Year ending in year x Third quarter estimated (payable December 15, year x) Fiscal Year ending in year x Third quarter estimated (payable September 15, year x) Fiscal Year ending in year x Fourth quarter estimated (payable March 15, year x + 1) Fiscal Year ending in year x Fourth quarter estimated (payable December 15, year x) Fiscal Year ending in year x Final payment for Fujitsu Member taxable year ended March 31, year x + 1 (payable June 15, year x + 1) Fiscal Year ending in year x Final payment for AMD Member taxable year ended last Sunday in December, year x (payable March 15, year x + 1) Fiscal Year ending in year x

Examples of Tax Liability Distributions in a sentence

If any of the conditions described in clauses (i), (ii) or (iii) of the preceding sentence applies, Tax Liability Distributions shall be calculated consistently with the expected tax treatment of such items based on such change in law, professional advice or mutual agreement.
For the avoidance of doubt, a Member shall not be entitled to receive Tax Liability Distributions with respect to any amounts required to be recognized by a Member pursuant to Section 704(c)(1)(B) or Section 737 of the Code or corresponding provisions of State law.
For the avoidance of doubt, any Tax Liability Distributions shall reduce the amount of any accrued but unpaid distributions with respect to the Series B Preferred Units.
Tax Liability Distributions shall be made to each Member pro rata in accordance with such Member's relative allocation of the corresponding item(s) of gain or income, and shall be treated as advances of, and shall as soon as possible be recouped solely from, distributions otherwise to be received by such Member under this Agreement, provided, that in no event shall such Member otherwise be required to recontribute or otherwise return or repay any such Tax Liability Distribution.
Any Tax Liability Distributions shall be treated as an advance against, and shall reduce the amount of, the next distribution(s) that the Member would otherwise receive pursuant to Section 5.13(a).
Tax Liability Distributions shall be made to the Partners pro rata in accordance with their respective allocation of net taxable income, and shall be treated as advances against, and shall reduce the amount of, the next distribution(s) that such Partner would otherwise receive pursuant to Section 4.1.1 or Section 10.4.
The Partnership shall not enter into any agreement that prohibits the authorization, payment or setting apart for payment of any Tax Liability Distributions or provides that any such action would constitute a breach thereof or default thereunder.
Any Tax Liability Distributions will reduce the amount of the next Carry Distribution(s) that the Carry Unitholders would otherwise receive pursuant to Section 5.2.1.
If the Company anticipates that there may be insufficient cash available to make all Tax Liability Distributions in full in respect of any Fiscal Year, (i) the Company shall make Tax Liability Distributions to the Members pro rata according to the maximum amounts to which each Confidential treatment has been requested for portions of this exhibit.
The Company shall make adjusting distributions in subsequent Tax Quarters pursuant to this Section 6.04 to a Member that received a Tax Liability Distribution(s) in previous Tax Quarter(s) than was less than such Member's Tax Liability in such Tax Quarter(s).

More Definitions of Tax Liability Distributions

Tax Liability Distributions shall have the meaning set forth in Section 8.2 hereof.