ALLOCATION OF A NET OPERATING LOSS Sample Clauses

ALLOCATION OF A NET OPERATING LOSS. Should the Parent Company's affiliated group generate a net operating loss for a tax year, each company shall first receive an allocation of consolidated tax, which may be either positive or negative, as provided in paragraph (2); provided, however, a negative allocation of the consolidated tax shall be made only to the extent that corporate taxable income reduces consolidated tax for such tax year. The current consolidated net operating loss shall then be apportioned to each subsidiary with a taxable loss and carried back or forward to year(s) when the consolidated net operating loss can be utilized. The consolidated reduction in tax resulting from the carryback or carryforward of the net operating loss shall be apportioned to loss subsidiaries in accordance with paragraphs (2) through (5). See rule 45(c)(5). For purposes of the consolidated return, the utilization of net operating losses carried back or carried over is determined on a first-in first-out basis with all net operating losses generated by all subsidiaries in the earliest year utilized first before net operating losses generated in a subsequent year can be utilized. For purposes of allocating the net operating losses pursuant to this Agreement, and in accordance with the separate return limitation of Paragraph (10), the net operating losses utilized shall be determined on a first-in first-out basis with the net operating losses generated by subsidiaries allocated positive taxes in Paragraphs (2) and (3) utilized first, for all available vintages, before net operating losses generated by subsidiaries allocated negative taxes in Paragraphs (2) and (3) are utilized. If the vintages of net operating losses utilized pursuant to this Agreement differ from those utilized according to the consolidated return for a subsidiary, then the vintages of net operating losses utilized pursuant to this Agreement shall be exchanged among the affected subsidiaries. Net operating loss carryovers that are lost due to reductions, limitations and expirations imposed by the Code or the regulations thereunder shall be allocated in an appropriate and reasonable manner. See Rule 45(c)(5).
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ALLOCATION OF A NET OPERATING LOSS. Should the consolidated group generate a net operating loss for a calendar year, each company shall first receive a positive allocation to the extent of its separate return tax, or a negative allocation to the extent that its corporate taxable loss reduces the consolidated taxable income for the calendar year. The current consolidated net operating loss shall then be apportioned to each subsidiary with a taxable loss and carried back or forward to year(s) when the consolidated net operating loss can be utilized. The consolidated reduction in tax resulting from the carryback or carryforward of the net operating loss shall be apportioned to loss subsidiaries in accordance with paragraphs (2) through (5). See rule 45(c)(5).
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ALLOCATION OF A NET OPERATING LOSS. Should the Parent Company's affiliated group generate a net operating loss for a tax year, each company shall first receive an allocation of consolidated federal income tax, which may be either positive or negative, as provided in paragraph (2); provided, however, a negative allocation of the consolidated federal income tax shall be made only to the extent that separate taxable income reduces consolidated federal income tax for such tax year. The current consolidated net operating loss shall then be apportioned to each subsidiary with a taxable loss and carried back or forward to year(s) when the consolidated net operating loss can be utilized. The consolidated reduction in tax resulting from the carryback or carryforward of the net operating loss shall be apportioned to loss subsidiaries in accordance with paragraphs (2) through (5). For purposes of the consolidated return, the utilization of net operating losses carried back or carried over is determined on a first-in first-out basis with all net operatingMPANY By: Name: Title: Attest: NORTHEAST GENERATION SERVICES COMPANY By: Name: Title: Attest: SELECT ENERGY PORTLAND PIPELINE, INC. By: Name: Title: Attest: REEDS FERRY SUPPLY CO., INC. By: Name: Title: Attest: HEC/TOBYHANNA ENERGY PROJECT, INC. By: Name: Title: Attest: YANKEE ENERGY SYSTEM, INC. By: Name: Title: Attest: YANKEE ENERGY FINANCIAL SERVICES COMPANY By: Name: Title: Attest: NORCONN PROPERTIES, INC. By: Name: Title: Attest: YANKEE ENERGY SERVICES COMPANY By: Name: Title: Attest: YANKEE GAS SERVICES COMPANY By: Name: Title: Attest: R.M. SERVICES, INC. By: Name: Title: Attest: CONSOLIDATED EDISON OF NEW YORK, INC. By: Name: Title: Attest: CONSOLIDATED EDISON SOLUTIONS, INC. By: Name: Title: Attest: CONSOLIDATED EDISON ENERGY, INC. By: Name: Title: Attest: CONSOLIDATED EDISON DEVELOPMENT, INC. By: Name: Title: Attest: CONSOLIDATED EDISON LEASING, INC. By: Name: Title: Attest: CED ADA, INC. By: Name: Title: Attest: CED MANAGEMENT COMPANY, INC. By: Name: Title: Attest: CONSOLIDATED EDISON ENERGY MASSACHUSETTS, INC. By: Name: Title: Attest: CED - LAKEWOOD INC. By: Name: Title: Attest: CED GENERATION LAKEWOOD COMPANY By: Name: Title: Attest: CONSOLIDATED EDISON COMMUNICATIONS, INC. By: Name: Title: Attest: ORANGE AND ROCKLAND UTILITIES, INC. By: Name: Title: Attest: ROCKLAND ELECTRIC COMPANY By: Name: Title: Attest: PIKE COUNTY LIGHT & POWER COMPANY By: Name: Title:
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Related to ALLOCATION OF A NET OPERATING LOSS

  • Net Operating Losses In the case of a Deconsolidation Event, notwithstanding any other provision of this Agreement, VMware hereby expressly agrees to elect (under section 172(b)(3) of the Code and, to the extent feasible, any similar provision of any state, local or non-U.S. Tax law, including section 1.1502-21T(b)(3) of the Treasury Regulations) to relinquish any right to carryback net operating losses to any Pre-Deconsolidation Periods of Dell Technologies (in which event no payment shall be due from Dell Technologies to VMware in respect of such net operating losses).

  • Operating Losses To the extent there is an Operating Loss for any calendar month, Owner shall have the right, without any obligation and in its sole discretion, to fund such Operating Loss within twenty (20) days after Manager has delivered notice thereof to Owner and any Operating Loss funded by Owner shall be a “Owner Operating Loss Advance.” If Owner does not fund such Operating Loss, Manager shall have the right, without any obligation and in its sole discretion, to fund such Operating Loss within twenty (20) days after such initial twenty (20) day period, and any Operating Loss so funded by Manager shall be an Additional Manager Advance. If neither party elects to fund such Operating Loss, Manager may elect, by notice to Owner given within thirty (30) days thereafter, to terminate this Agreement, which termination shall be effective thirty (30) days after the date such notice is given; upon such termination, Owner shall pay Manager the Termination Fee, within sixty (60) days of the effective date of termination, as liquidated damages and in lieu of any other remedy of Manager at law or in equity and such termination shall otherwise be in accordance with the provisions of Section 11.09.

  • Allocation of Profit or Loss All Profit or Loss shall be allocated to the Member.

  • Allocation of Profits and Losses The Company’s profits and losses shall be allocated to the Member.

  • Allocation of Profits Profits for any Year shall be allocated in the following order and priority:

  • Allocation of Net Income and Net Loss Net Income or Net Loss of the Partnership shall be determined as of the end of each calendar year and as of the end of any interim period extending through the day immediately preceding any (i) disproportionate Capital Contribution, (ii) disproportionate distribution, (iii) Transfer of a Partnership Interest in accordance with the terms of this Agreement, or (iv) Withdrawal Event. If a calendar year includes an interim period, the determination of Net Income or Net Loss for the period extending through the last day of the calendar year shall include only that period of less than twelve (12) months occurring from the day immediately following the last day of the latest interim period during the calendar year and extending through the last day of the calendar year. For all purposes, including income tax purposes, Net Income, if any, of the Partnership for each calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period. In the event of a Net Loss for a particular calendar year or interim period, then, for such calendar year or interim period, the Net Loss for such calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period.

  • Allocation of Direct Expenses The parties acknowledge that the Building is a part of a multi-building project and that the costs and expenses incurred in connection with the Project (i.e., the Direct Expenses) should be shared between the Building and the other buildings in the Project. Accordingly, as set forth in Section 4.2 above, Direct Expenses (which consist of Operating Expenses and Tax Expenses) are determined annually for the Project as a whole, and a portion of the Direct Expenses, which portion shall be determined by Landlord on an equitable basis, shall be allocated to the Building (as opposed to other buildings in the Project). Such portion of Direct Expenses allocated to the Building shall include all Direct Expenses attributable solely to the Building and a pro rata portion of the Direct Expenses attributable to the Project as a whole, and shall not include Direct Expenses attributable solely to other buildings in the Project.

  • Allocation of Overhead To the extent that Borrower, on the one hand, and the Servicer, the Parent, the Performance Guarantor, any Originator or any Affiliate thereof, on the other hand, have offices in the same location, there shall be a fair and appropriate allocation of overhead costs between them, and the Borrower shall bear its fair share of such expenses, which may be paid through the Servicing Fee or otherwise.

  • Allocation of Net Profits and Net Losses As of the last day of each Fiscal Period, any Net Profits or Net Losses for the Fiscal Period shall be allocated among and credited to or debited against the Capital Accounts of the Members in accordance with their respective Investment Percentages for such Fiscal Period.

  • Allocation of Profit and Loss Article V, Section 5.01 of the Partnership Agreement is hereby deleted in its entirety and the following new Section 5.01 is inserted in its place:

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