Subsequent Adjustments or Refunds Sample Clauses

Subsequent Adjustments or Refunds. With respect to any Tax period of the Plains Group after December 31, 2001, for which Plains received (or would be entitled to receive) from Spinco a payment pursuant to Paragraph 5 or this Paragraph 12, if the filing of an amended income Tax Return, final determination of any adjustment made by any Tax Authority or the receipt of a refund by Plains occurs with respect to such period and such event would cause a difference in the amount of payment required for such period as previously calculated pursuant to Paragraph 5 or this Xxxxxxxxx 00, Xxxxxx shall give Spinco prompt notice of such difference and Plains shall be obligated to pay or entitled to receive from Spinco the amount of such difference. Any amount required to be paid pursuant to this Paragraph 12 shall include any interest imposed by or received from the Tax Authority if the adjustment results in the payment of Tax to or receipt of Tax from the Tax Authority. In addition, Plains and Spinco acknowledge and agree that the tax sharing agreement in effect for the Plains Group as of December 31, 2001, shall be negated and canceled as of the Spin-Off Date. Plains and Spinco further agree that there are no claims or causes of action under such tax sharing agreement as of December 31, 2001, for periods ending on or before December 31, 2001, by either of them or any member of their respective group against the other or any member of the other's group, and they release each other from any and all such claims. With respect to Taxes for periods ending after December 31, 2001, Plains and Spinco agree that this Agreement shall control. Spinco agrees that it will have no right to request that Plains file an amended return or a claim for refund for any reason, unless Spinco agrees to pay any Tax liability shown thereon or therein and Plains, in its absolute discretion (which may be withheld for any reason), agrees. In the event Spinco generates net operating losses or other Items of Loss or Tax Benefit after the Spin-Off Date that may otherwise be carried back to the taxable income or Tax liability of the Plains Group prior to the Spin-Off Date, Spinco agrees to relinquish the entire carry back period with respect to each such net operating loss or other Items of Loss or Tax Benefit under Section 172(b)(3) or other appropriate sections and to carry forward any such losses and other items.
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Subsequent Adjustments or Refunds. 10 13. Spinco Spin-Off Tax Indemnity ................................ 11 14.
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Subsequent Adjustments or Refunds. With respect to any Tax period of the Weatherford Group for which Weatherford received from Grant a payment pursuant to Paraxxxxx 0, Xxxxxxxxx 0 xr this Paragraph 12, if the filing of an amended income Tax Return, final determination of any adjustment made by any Tax Authority or the receipt of a refund by Weatherford occurs with respect to such period and such event would cause a difference in the amount of payment required for such period as previously calculated pursuant to Paragraph , Paragraph 7 or this Paragraph 12, Weatherford shall give Grant prompt notice of such difference and Weatherford shall be obligated to pay or entitled to receive from Grant the amount of such difference. Any amount required to be paid pursuant to this Paragraph 12 shall include any interest imposed by or received from the Tax Authority if the adjustment results in the payment of Tax to or receipt of Tax from the Tax Authority.
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Subsequent Adjustments or Refunds. With respect to any Tax period of the Weatherford Group for which Weatherford received from Grant a payment pursuant to Paragraph 5 or this Paragraph 12, if the filing of an amended income Tax Return, final determination of any
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Subsequent Adjustments or Refunds. With respect to any Tax period of the Weatherford Group for which Weatherford received from Grant a payment pursuant to Paragraph 5 or this Paragraph 12, if the filing of an amended income Tax Return, final determination of any adjustment made by any Tax Authority or the receipt of a refund by Weatherford occurs with respect to such period and such event would cause a difference in the amount of payment required for such period as previously calculated pursuant to Paragraph 5 or this Paragraph 12, Weatherford shall give Grant prompt notice of such difference and Weatherford shall be obligated to pay or entitled to receive from Grant the amount of such difference. The amount shall include interest at the applicable deficiency interest rate imposed by the Tax Authority if the adjustment results in the payment of Tax to or receipt of Tax from the Tax Authority.
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Related to Subsequent Adjustments or Refunds

  • Subsequent Adjustments In the event that the Assuming Institution or the Receiver discovers any errors or omissions as contemplated by Section 8.2 or any error with respect to the payment made under Section 8.3 after the Settlement Date, the Assuming Institution and the Receiver agree to promptly correct any such errors or omissions, make any payments and effect any transfers or assumptions as may be necessary to reflect any such correction plus interest as provided in Section 8.4.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Rent Adjustments 4.1 For the purpose of this Article 4, the following terms are defined as follows:

  • Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.

  • Purchase Price Credit Adjustments If on any day:

  • Rent Adjustment (a) If, solely as a result of Congressional enactment of any law (including, without limitation, any modification of, or amendment or addition to, the Internal Revenue Code of 1986, as amended, (“Code”)), the maximum effective corporate income tax rate (exclusive of any minimum tax rate) for calendar-year taxpayers (“Effective Rate”) is higher than thirty-five percent (35%) for any year during the lease term, then Lessor shall have the right to increase such rent payments by requiring payment of a single additional sum. The additional sum shall be equal to the product of (i) the Effective Rate (expressed as a decimal) for such year less .35 (or, in the event that any adjustment has been made hereunder for any previous year, the Effective Rate (expressed as a decimal) used in calculating the next previous adjustment) times (ii) the adjusted Termination Value (defined below), divided by (iii) the difference between the new Effective Rate (expressed as a decimal) and one (1). The adjusted Termination Value shall be the Termination Value (calculated as of the first rent due in the year for which the adjustment is being made) minus the Tax Benefits that would be allowable under Section 168 of the Code (as of the first day of the year for which such adjustment is being made and all future years of the lease term). The Termination Values and Tax Benefits are defined on the Schedule. Lessee shall pay to Lessor the full amount of the additional rent payment on the later of (i) receipt of notice or (ii) the first day of the year for which such adjustment is being made.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Purchase Price Deposit The purchase price (the “Purchase Price”) for the Property, subject to adjustments as provided in this Agreement, shall be FIFTY MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS and 00/100 Dollars ($50,250,000.00), and shall be paid as follows:

  • Rental Adjustments 6.1 The Basic Annual Rent then in effect (and as previously increased pursuant to this Section 6.1) shall be increased each year by three percent (3%) on each annual anniversary of the Term Commencement Date for so long as this Lease continues in effect.

  • Purchase Price Adjustments In case at any time and from time to time the Company shall issue any shares of Common Stock or Derivative Securities convertible or exercisable for shares of Common Stock (the number of shares so issued, or issuable upon conversion or exercise of such Derivative Securities, as applicable, being referred to as "Additional Shares of Common Stock") for consideration less than the then Market Price at the date of issuance of such shares of Common Stock or such Derivative Securities, in each such case the Conversion Price shall, concurrently with such issuance, be adjusted by multiplying the Conversion Price immediately prior to such event by a fraction: (i) the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to the issuance of such Additional Shares of Common Stock plus the number of shares of Common Stock that the aggregate consideration received by the Company for the total number of such Additional Shares of Common Stock so issued would purchase at the Market Price and (ii) the denominator of which shall be the number of shares of Common Stock outstanding immediately prior to the issuance of Additional Shares of Common Stock plus the number of such Additional Shares of Common Stock so issued or sold.

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