Estimated Tax Amount definition

Estimated Tax Amount of a Member for a Fiscal Year means the Member’s Tax Amount for such Fiscal Year as estimated in good faith from time to time by the Board. In making such estimate, the Board shall take into account amounts shown on Internal Revenue Service Form 1065 filed by the Company and similar state or local forms filed by the Company for the preceding taxable year and such other adjustments as in the reasonable business judgment of the Board are necessary or appropriate to reflect the estimated operations of the Company for the Fiscal Year.

Estimated Tax Amount of a Member for a Fiscal Year means the Member's Tax Amount for such Fiscal Year as estimated in good faith from time to time by the Board. In making such estimate, the Board shall take into account amounts shown on Internal Revenue Service Form 1065 filed by the Company and similar state or local forms filed by the Company for the preceding taxable year and such other adjustments as in the reasonable business judgment of the Board are necessary or appropriate to reflect the estimated operations of the Company for the Fiscal Year.

Estimated Tax Amount means, with respect to any Member for any fiscal year, the excess, if any, of (a) the cumulative assumed tax liability of such Member as of such fiscal year (as determined by the Manager), over (b) the amount of distributions made to such Member pursuant to Section 4.4(c) of the LLC Agreement during such fiscal year and all prior fiscal years plus the amount of distributions made to such Member pursuant to Section 4.8 of the LLC Agreement with respect to all prior fiscal years.

Examples of Estimated Tax Amount in a sentence

• Tax Distributions Subject to the qualification noted below, the Company shall distribute, after the end of each calendar year, to each Unit Holder out of available cash, a “tax payment” in an amount equal to the Estimated Tax Amount.

• The Company's "Estimated Tax Amount" for a Taxable Year (or Fiscal Period) shall be the Company's Tax Amount for such Taxable Year (or Fiscal Period) as estimated from time to time by the Managing Member.

• Subject to the restrictions of any of the Company’s and/or its Subsidiaries’ then applicable debt financing agreements, the Board may cause the Company to distribute to each Unitholder cash in proportion to and to the extent of such Unitholder’s Quarterly Estimated Tax Amount for the applicable calendar quarter.

• Notwithstanding anything else to the contrary herein, the Company shall distribute, within a reasonable amount of time after the close of each fiscal year (as determined by the manager), to each Unit Holder out of available cash, but only to the extent that such cash is available without borrowing monies and without causing the reserves to fall below levels deemed appropriate by the Manager, an amount equal to the Estimated Tax Amount.

• If the Completion Date occurs prior to the date of the Effective Time, the Initial Proceeds, together with the Estimated Tax Amount, shall be deposited by the Company in escrow in accordance with an escrow agreement in the form of Schedule 3 hereto.

More Definitions of Estimated Tax Amount

Estimated Tax Amount of a Limited Partner for a Fiscal Year means the Limited Partner’s Tax Amount for such Fiscal Year as estimated in good faith from time to time by the Board. In making such estimate, the Board shall take into account amounts shown on Internal Revenue Service Form 1065 filed by the Partnership and similar state or local forms filed by the Partnership for the preceding taxable year and such other adjustments as in the reasonable business judgment of the Board are necessary or appropriate to reflect the estimated operations of the Partnership for the Fiscal Year.

Estimated Tax Amount means, with respect to each Member, the amount equal to the highest statutory marginal tax rate for corporations imposed by applicable federal income tax laws for a given tax year multiplied by the Profits allocated to such Member for such taxable year as shown on the Company’s U.S. federal income tax return.

Estimated Tax Amount of a Unitholder for a Fiscal Year means the Unitholder’s Tax Amount for such Fiscal Year as estimated in good faith from time to time by the Board. In making such estimate, the Board shall take into account amounts shown on Internal Revenue Service Form 1065 filed by the Company and similar state or local forms filed by the Company for the preceding taxable year and such other adjustments as in the reasonable business judgment of the Board are necessary or appropriate to reflect the estimated operations of the Company for the Fiscal Year.

Estimated Tax Amount means, with respect to any Member for any fiscal year, the excess, if any, of (a) the cumulative assumed tax liability of such Member as of such fiscal year (as determined by the Manager), over (b) the amount of distributions made to such Member pursuant to Section 4.4(c) during such fiscal year and all prior fiscal years plus the amount of distributions made to such Member pursuant to Section 4.8 with respect to all prior fiscal years.

Estimated Tax Amount of a Member for a Fiscal Year means the Member’s Tax Amount for such Fiscal Year as estimated in good faith from time to time by the JOC. In making such estimate, the JOC shall take into account amounts shown on Internal Revenue Service Form 1065 filed by the Company and similar state or local forms filed by the Company for the preceding taxable year and such other adjustments as the JOC reasonably determines are necessary or appropriate to reflect the estimated operations of the Company for the Fiscal Year.

Estimated Tax Amount means the tax estimated to be due by DeepFlex or Offshore as set forth on the Price Tax Schedule (as defined in the Tax Sharing Agreement).

Estimated Tax Amount has the meaning set forth in Section 5.3 hereof.