Common use of Unused Corporate Tax Benefits Clause in Contracts

Unused Corporate Tax Benefits. A member that is entitled to payment for a tax benefit, but does not receive such payment because of the rules in Step 3 shall retain such right for the future to the extent that such benefit can be applied against the consolidated tax liability. Uncompensated corporate tax benefits arising from negative taxable income shall have priority over the benefits attributable to excess tax credits.

Unused Corporate Tax Benefits. A member Member of the Group that is entitled to payment for a corporate tax benefit, but does not receive such payment because of the rules in Step 3 shall retain such right for the future to the extent that such benefit can be applied against the consolidated tax liability. Uncompensated corporate tax benefits arising from negative taxable income shall have priority over the benefits attributable to excess tax credits.

Unused Corporate Tax Benefits. A member Group Member that is entitled to payment for a corporate tax benefit, but does not receive such payment because of the rules in Step 3 of this Article I shall retain such right for the future to the extent that such benefit can be applied subsequently against the consolidated tax liability. Uncompensated corporate tax benefits arising from negative taxable income shall have priority over the benefits attributable to excess tax credits.