Common use of Insufficient Taxable Income Clause in Contracts

Insufficient Taxable Income. Notwithstanding anything in Section 3.1(b) to the contrary, to the extent that the aggregate Realized Tax Benefit of the Corporation with respect to the Tax Attributes is limited in a particular Taxable Year because the Corporation does not have sufficient taxable income, then the available Net Tax Benefit for the Corporation shall be allocated among the TRA Holders in proportion to the respective Tax Benefit Payment that would have been payable if the Corporation had in fact had sufficient taxable income so that there had been no such limitation.

Insufficient Taxable Income. Notwithstanding anything in Section 3.1(b) to the contrary, to the extent that if the aggregate Realized potential Covered Tax Benefit benefit of the Corporation as calculated with respect to the Tax Attributes Basis Adjustments and Imputed Interest (in each case, without regard to the Taxable Year of origination) is limited in a particular Taxable Year because the Corporation does not have sufficient actual taxable incomeincome to fully utilize available deductions, then the available Net Covered Tax Benefit benefit for the Corporation shall be allocated among the TRA Holders Members in proportion to the respective Tax Benefit Payment that would have been payable if the Corporation had in fact had sufficient taxable income so that there had been no such limitation.