Excess Refunds definition

Excess Refunds means the portion of any and all refunds that ordinarily would be payable, transferable or otherwise distributable to the WMB Recipient or the WMB Escrow Account but if so distributed would bring the total amount of net refunds of Pre-2009 Group Taxes actually or deemed distributed to the WMB Escrow Account herein to $850 million or more.
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Examples of Excess Refunds in a sentence

  • The Company will reimburse any Excess Tax Liability Payment or claim back any Excess Refunds you have incurred in the Home Location and Host location, in accordance with the Letter of Understanding.

  • For the avoidance of doubt, the WMB Recipient shall not be responsible for Group Taxes other than (x) thirty-one and one-half percent (31.5%) of any Homeownership Refund Taxes remaining after reduction of any net amount of Excess Refunds by the Homeownership Refund Taxes, and (y) Taxes, if any, imposed on interest allocated to WMB or the WMB Recipient.

Related to Excess Refunds

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the amount of cash or other immediately available funds in the Reserve Account (excluding any net investment earnings) on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date, over (b) the Specified Reserve Account Balance with respect to such Payment Date.

  • Excess Collections shall have the meaning specified in Section 2.8(a)(xv) of the Indenture.

  • Excess Amounts means, as of any Payment Date, the amount remaining in the 2016-A SUBI Collection Account after the distributions provided for in clause (iii) of Section 8.04(a) of the Indenture have been made.

  • Excess Cash Flow Payment Date means the date occurring ten (10) Business Days after the date on which the Borrower’s (or Parent Company’s) annual audited financial statements are required to be delivered pursuant to Section 9.01(b) (or Section 9.01(c)) (commencing with respect to the fiscal year ending December 31, 2021).

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.