Stockholders' Indemnification for Tax Liabilities Sample Clauses

Stockholders' Indemnification for Tax Liabilities. The Stockholders, severally (according to the percentage of the outstanding shares of the Company's Common Stock owned by each Stockholder for the years of adjustment) and not jointly, hereby agree to indemnify, defend and hold harmless the Company from and against all liability with respect to all federal and state income taxes of any kind whatsoever (computed at the highest federal and/or state income tax rate in effect for the year of adjustment) including interest, penalties and additions to taxes resulting from any final determination of an adjustment (by reason of an amended return, claim for refund, audit or otherwise) to the Stockholders' taxable income resulting in a decrease in the Stockholders' S corporation taxable income and a corresponding increase in the federal or state, as the case may be, income tax liability payable by the Company. Notwithstanding the foregoing, the amount of the payments made by a Stockholder pursuant to this Section 4.4 shall not exceed an amount, if any, by which (i) the amount of the reduction in the federal and state income tax liability and interest thereon of the Stockholder which results from the shifting of S corporation taxable income to a C corporation taxable year of the Company, exceeds (ii) all reasonable costs incurred by the Stockholder reasonably attributable to securing such reduction in tax liability.
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Stockholders' Indemnification for Tax Liabilities. The Stockholders, severally (according to the percentage of the outstanding shares of the Company's Common Stock owned by each Stockholder for the years of adjustment) and not jointly, hereby agree to indemnify, defend and hold harmless the Company from and against all liability with respect to all federal and state income taxes of any kind whatsoever (computed at the highest federal and/or state income tax rate in effect for the year of adjustment) including interest, penalties and additions to taxes resulting from any final determination of an adjustment (by reason of an amended return, claim for refund, audit or otherwise) to the Stockholders' taxable income resulting in a decrease in the Stockholders' S corporation taxable income and a corresponding increase in the federal or state, as the case may be, income tax liability payable by the Company; provided, however, the Stockholder's indemnifi cation shall be limited to the reduction, if any, in his/her tax liability (including interest, penalties and additions to taxes) as a result of such determination. In addition to the foregoing, the Stockholders, severally (according to the percentage of the outstanding shares of the Company's Common Stock owned by each Stockholder for the years of adjustment) and not jointly, hereby agree to indemnify, defend and hold harmless the Company from and against all tax liability directly attributable to the Accounting Change to the extent and in an amount by which all federal and state income taxes of any kind whatsoever (including interest, penalties and additions to taxes) for tax years subsequent to the S Corporation Period exceed $1,800,000.00 dollars.
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Stockholders' Indemnification for Tax Liabilities. (a) In the event of an adjustment to one or more tax returns of the Company for a C taxable year based on a Final Determination which results in a net increase in taxable income of the Company for a C Taxable Year and a corresponding adjustment to one or more tax returns of the Company for an S Taxable Year based on a Final Determination which results in a net decrease in taxable income of the Company for the S Taxable Year, the Stockholders agree to contribute to the capital of the Company an amount equal to the Adjustment Amount multiplied by the Blended Rate. In the event the Adjustment Amount differs from the adjustments to the income of the Company for the S Taxable year, the Stockholder shall be required to contribute to the capital of the Company an amount equal to the lesser of the Adjustment Amount or net decrease in the income of the Stockholder, multiplied by the Blended Rate. In addition, each Stockholder shall contribute to the capital of the Company an amount
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Stockholders' Indemnification for Tax Liabilities. The Stockholders hereby indemnify and agree to hold the Company harmless from, against and in respect of any federal and state income tax liability incurred by the Company resulting from a final determination (after all time limitations for appeals has run) of an adjustment (by reason of an amended return, claim for refund, audit or otherwise) to the Stockholders' income resulting in a decrease in the Stockholders' taxable income for a taxable period ending prior to the Termination Date (including the short taxable period ending the day before the Termination Date) and a corresponding increase in the federal or state income tax liability of the Company (or its consolidated subsidiaries) for a taxable period commencing on or after the Termination Date; provided that the Company shall be responsible for (i) the deferred tax liability arising out of the revocation of the Company's S corporation status that will be recorded as a charge to income tax provision on the Company's financial statements in the quarter during which the Termination Date occurs and (ii) any taxes for such taxable periods in any states where the Company had either not made a comparable election or was not otherwise entitled to be treated as a S corporation or other pass-thru entity.
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Stockholders' Indemnification for Tax Liabilities. The ------------------------------------------------- Stockholders hereby indemnify and agree to hold the Company harmless from, against and in respect of any federal and state income tax liability incurred by the Company resulting from a final determination of an adjustment (by reason of an amended return claim for refund, audit or otherwise) to the Stockholders' income resulting in a decrease in the Stockholders' taxable income for a taxable period ending prior to the Termination Date (including the short taxable period ending the day before the Termination Date) and a corresponding increase in the federal or state income tax liability of the Company (or its consolidated subsidiaries) for a taxable period commencing on or after the Termination Date; provided that the Company shall be responsible for all taxes reflected on the balance sheet set forth in the Financial Statements.
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Related to Stockholders' Indemnification for Tax Liabilities

  • Indemnification for Taxes (a) From and after the Initial Closing Date, the Sellers will indemnify the Purchaser Indemnified Parties from and against any and all Losses arising out of or resulting from (i) income Taxes imposed on the Company for a Pre-Initial Closing Tax Period; (ii) Taxes of another Person imposed on the Company (A) under Treasury Regulations Section 1.1502-6 (and any similar provision of state, local, or foreign Law) as a result of the Company being a member of any consolidated, unitary, combined or similar group at any time prior to the Initial Closing or (B) as a transferee or successor as a result of a transaction occurring prior to the Initial Closing or by contract entered into prior to the Initial Closing (other than as a result of any customary Tax indemnity, sharing or allocation agreement pursuant to an agreement whose primary subject is not Taxes); (iii) any Taxes of the Sellers imposed on Purchaser as a result of any transactions occurring on the Initial Closing Date; (iv) Taxes imposed on the Company arising from, related to or attributable to the breach or nonperformance of the covenants provided in Section 7.1(j) prior to the Initial Closing; and (v) Taxes imposed on the Company arising from any breach of any representation or warranty, as of the Initial Closing, made by the Company contained in Section 4.16; provided, however, that the Sellers will not be liable under this Section 10.1(a) for any (w) Losses relating to Taxes to the extent that such Taxes were reflected in the Transaction Expenses; (x) Losses arising out of or resulting from any Taxes arising in a Post-Initial Closing Tax Period; (y) Losses relating to Taxes arising from an election made by Purchaser or any of its Affiliates under Section 338 of the Code with respect to the transactions contemplated by this Agreement or any other transaction occurring after the Initial Closing at the direction of Purchaser and not expressly provided for and permitted by this Agreement; or (z) Taxes for which Purchaser is responsible under Section 10.1(c). Except with respect to the Losses relating to Taxes described in clause (iii) of this Section 10.1(a), which will be the sole responsibility of the Sellers, the Sellers’ indemnification obligations under this Section 10.1(a) will be limited to Sellers Loss. Stock Purchase Agreement

  • Indemnity for Taxes The Borrowers hereby indemnify and agree to hold each Creditor Party harmless from and against all taxes other than Non-indemnified Taxes levied on such Creditor Party (including, without limitation, taxes imposed on any amounts payable under this Clause 23.5) paid or payable by such person, whether or not such taxes or other taxes were correctly or legally asserted. Such indemnification shall be paid within 10 days from the date on which such Creditor Party makes written demand therefore specifying in reasonable detail the nature and amount of such taxes or other taxes.

  • Liability for Taxes (i) Parent ----------- ------------------- shall be liable for and pay, and pursuant to Article XI shall indemnify and hold ---------- harmless each Buyer Group Member from and against any and all Losses and Expenses incurred by such Buyer Group Member in connection with or arising from, any and all Taxes (A) imposed on any Company pursuant to Treas. Reg. (S) 1.1502- 6 or similar provision of state or local law solely as a result of such Company having been a member of a group of corporations joining in filing Tax Returns on a consolidated, combined or unitary basis, (B) imposed on or with respect to any Company, for which any Company may otherwise be liable, or with respect to the HEA Membership Interests or the SMMSLP LP Interests, in each case described in this clause (B) for any taxable year or period that ends on or before the Closing Date and, with respect to any Straddle Period, the portion of such Straddle Period ending on and including the Closing Date, (C) arising solely from the termination, as of the Closing Date, of any Company that is a corporation as a member of the affiliated group (as defined in Section 1504 of the Code) of which Parent is the parent corporation, (D) arising from the distribution of or otherwise relating to the Excluded Assets or the Excluded Business or (E) that are Section 338(h)(10) Taxes; provided, however, that -------- ------- Parent shall not be liable for or pay, and shall not indemnify or hold harmless any Buyer Group Member from and against, (I) any incremental Taxes (other than Section 338(h)(10) Taxes) that result from any actual or deemed election under Section 338 of the Code or any similar provisions of state, local or foreign law as a result of the purchase of the Shares, the HEA Membership Interests or the SMMSLP LP Interests, or the deemed purchase of shares or equity of any Conveyed Companies Subsidiary, or that result from Buyer, any Affiliate of Buyer or any Company engaging in any activity or transaction (other than the activities and transactions contemplated by this Agreement) that would cause the transactions contemplated by this Agreement to be treated as a purchase or sale of assets of any Company (other than HEA) for federal, state or local Tax purposes, (II) any Taxes (other than Section 338(h)(10) Taxes) imposed on any Company, for which any Company may otherwise be liable or with respect to the HEA Membership Interests or the SMMSLP LP Interests as a result of actual transactions not in the ordinary course of business occurring on the Closing Date after the Closing, and (III) any Taxes shown as a liability or reserve on the Closing Date Balance Sheet and not excluded as a liability in determining Net Working Capital (the Taxes described in this proviso being referred to as "Excluded Taxes"). Parent -------------- shall be entitled to any refund of (or actual credit for when and as actually realized) Taxes for which it is liable under this Section 8.2(a). --------------

  • Indemnification for Third Party Claims To the extent permitted by applicable law, you will defend us and our Affiliates, and our and their respective officers, directors, employees, and agents from and against any and all third party claims, lawsuits, and proceedings that arise or result from (a) your breach of this XXXX, (b) your use, distribution and/or licensing of the Redistributables, if applicable, except to the extent it arises from an IP Claim covered under section 1.10.1 above, or (c) your failure or alleged failure to comply with Applicable Laws or any violation of a third party’s rights in connection with your use of the Product (each a “Third-Party Claim” and collectively “Third-Party Claims”) and you will indemnify for damages finally awarded by a court of competent jurisdiction with respect to any Third-Party Claim.

  • Seller’s Indemnification Except as otherwise stated in this Agreement, after recording, the Buyer shall accept the Property AS IS, WHERE IS, with all defects, latent or otherwise. Neither Seller nor their licensed real estate agent(s) or any other agent(s) of the Seller, shall be bound to any representation or warranty of any kind relating in any way to the Property or its condition, quality or quantity, except as specifically set forth in this Agreement or any property disclosure, which contains representations of the Seller only, and which is based upon the best of the Seller’s personal knowledge.

  • Mandatory Indemnification; Indemnification as a Witness (i) To the extent that Indemnitee shall have been successful on the merits or otherwise in defense of any Claim relating to an Indemnifiable Event or any portion thereof or in defense of any issue or matter therein, including without limitation dismissal without prejudice, Indemnitee shall be indemnified against all Losses relating to such Claim in accordance with Section 2 to the fullest extent allowable by law, and no Standard of Conduct Determination (as defined in Section 8(b)) shall be required.

  • Liability for Transfer Taxes Without duplication of the indemnity set forth in Section 6.05 of the Contribution Agreement, the Equity Holder agrees to indemnify the Company for any Incremental Transfer Taxes incurred as a result of any direct or indirect transfers of the Company Shares or interests therein within two years after the IPO Closing Date; provided that such Company Shares shall be the Company’s sole recourse with respect to such indemnification obligation. Without duplication of the indemnity set forth in Section 6.05 of the Contribution Agreement, the Equity Holder hereby grants a security interest in 50% of the Company Shares received as Merger Consideration to the Company and hereby irrevocably appoints the Company, and any of its agents, officers, or employees as its attorney-in fact, which shall be deemed coupled with an interest, with full power to prepare, execute and deliver any documents, instruments and agreements as may be appropriate to perfect and continue such security interest in favor of the Company. The security interest granted pursuant to this Section 3.02 shall attach to the Company Shares that are not included in the Indemnity Holdback Amount. The Company agrees that the security interest in the Company Shares received by the Equity Holder in the Merger may be released, or collateral may be substituted, in accordance with the terms of the Escrow Agreement.

  • Accountholder’s Indemnification Obligation You understand and agree that you are required to indemnify us and hold us harmless against any and all claims, actions, damages, liabilities, costs and expenses, including reasonable attorneys’ fees and expenses, arising out of your use of the Services and/or breach of this Agreement. You understand and agree that this paragraph shall survive termination of this Agreement.

  • Purchaser’s Indemnification Purchaser agrees to indemnify, hold harmless, reimburse and defend the Company and each of the Company's officers, directors, agents, affiliates, control persons and principal shareholders, at all times against any claim, cost, expense, liability, obligation, loss or damage (including reasonable legal fees) of any nature, incurred by or imposed upon the Company which results, arises out of or is based upon: (i) any misrepresentation by Purchaser or breach of any warranty by Purchaser in this Agreement or in any exhibits or schedules attached hereto or any Related Agreement; or (ii) any breach or default in performance by Purchaser of any covenant or undertaking to be performed by Purchaser hereunder, or any other agreement entered into by the Company and Purchaser relating hereto.

  • Indemnification by SpinCo Except as otherwise specifically set forth in this Agreement or in any Ancillary Agreement, to the fullest extent permitted by Law, SpinCo shall, and shall cause the other members of the SpinCo Group to, indemnify, defend and hold harmless Parent, each member of the Parent Group and each of their respective past, present and future directors, officers, employees and agents, in each case in their respective capacities as such, and each of the heirs, executors, successors and assigns of any of the foregoing (collectively, the “Parent Indemnitees”), from and against any and all Liabilities of the Parent Indemnitees relating to, arising out of or resulting from, directly or indirectly, any of the following items (without duplication):

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