Class B Tax Amount definition

Class B Tax Amount means the General Partner’s estimate of the Net Taxable Income in accordance with Article V allocable to holders of Class B Units, multiplied by the Assumed Tax Rate.
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Class B Tax Amount means, with respect to a Class B Investor for a Fiscal Year, an amount equal to the lesser of (A) the product of the cumulative historic taxable income allocated to such Class B Investor pursuant to this Agreement (other than any taxable income allocated to such Class B Investor pursuant to Section 6.3(h) and after taking into account any taxable loss so allocated to such Class B Investor) for all Fiscal Years, or portions thereof, ending on or before or which includes such current Fiscal Year multiplied by the Class B Tax Rate, or (B) the product of the taxable net income allocated to such Class B Investor pursuant to this Agreement (other than any taxable income allocated to such Class B Investor pursuant to Section 6.3(h)) for such Fiscal Year multiplied by the Class B Tax Rate.
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Examples of Class B Tax Amount in a sentence

  • If the General Partner reasonably determines that the Partnership has Net Taxable Income allocable to holders of Class B Units, the General Partner shall cause the Partnership to distribute Available Cash attributable to Class B Units, to the extent that other distributions made by the Partnership to holders of Class B Units for such year were otherwise insufficient, in an amount equal to the Class B Tax Amount (the “Class B Tax Distributions”).

  • If a General Partner reasonably determines that the Partnership has Net Taxable Income allocable to holders of Class B Units, such General Partner shall cause the Partnership to distribute Available Cash attributable to Class B Units, to the extent that other distributions made by the Partnership to holders of Class B Units for such year were otherwise insufficient, in an amount equal to the Class B Tax Amount (the “Class B Tax Distributions”).