Excess Loss Account definition
Examples of Excess Loss Account in a sentence
The computation of such Excess Loss Account Tax Liability shall be made in accordance with the computational procedures of Section 3.05.
Not later than seven (7) days prior to each such Estimated Tax Installment Date, Compuware shall provide Covisint with a written notice setting forth the amount payable by Covisint in respect of any estimated Excess Loss Account Tax Liability (if then reasonably determinable, and if not then reasonably determinable, then as soon as reasonably practicable thereafter) and such estimated Covisint Separate Tax Liability and a calculation of such amounts.
Covisint shall pay to Compuware, or Compuware shall pay to Covisint, as appropriate, an amount equal to the difference, if any, between the Excess Loss Account Tax Liability or Covisint Separate Tax Liability, as applicable, reflected on such revised pro forma Tax Return and the Excess Loss Account Tax Liability or Covisint Separate Tax Liability, as applicable, for such period as originally computed pursuant to this Agreement.
As of December 31, 2000: (A) the basis of JDC in its assets is $2,233,656; (B) the basis of Company in its stock in JDC (or the amount of any Excess Loss Account as that term is defined in Treasury Regulation Section 1.1502-19) is $2,233,656; and (C) the amount of any deferred gain or loss allocable to JDC arising out of any Deferred Intercompany Transaction as that term is defined in Treasury Regulation Section 1.1502-13) is Zero.
On the date hereof there is no, and at the Effective Time there will not be any, Excess Loss Account (as such term is defined in Treasury Regulation Section 1.1502-19) with respect to the capital stock of ▇▇▇▇▇▇▇ or any of its Subsidiaries.