Highest Marginal Rate definition

Highest Marginal Rate means, with respect to any Member, the then highest marginal federal income tax rate applicable to such Member. The Highest Marginal Rate applicable to the Class A Member shall be 37.6%, as such rate may be adjusted with respect to any Fund Company if specified otherwise in a Fund Addendum.
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Highest Marginal Rate in respect of any Item, as of any date of determination, means the highest combined marginal rate of federal, state and local income tax applicable (with respect to the particular Item) to the two individuals having the largest direct or indirect ownership of the equity interests in S▇▇▇▇▇▇ on such date, giving effect to deductions allowed for state or local income taxes in computing federal income taxes, for the period in which such Item is taken into account by such individuals.
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Examples of Highest Marginal Rate in a sentence

  • If there is any change in the Highest Marginal Rate, the Fund shall notify the Auction Agent in writing of such change prior to 12:00 Noon on the Business Day prior to the next Auction Date for APS succeeding such change.

  • Such payments shall be computed taking into account items of income, gain, deduction, loss and any other items (including credits) that are attributable to the Measurement Period and that are taken into account in determining taxable income or loss or income taxes, in each case allocable to the MGIC/Radian Purchased Class A Units and any Specified Interests (collectively, “Items”), and assuming that all taxable income is subject to tax at the Highest Marginal Rate.

  • In determining the Maximum Rate for the APS on any Auction Date, the Auction Agent shall be entitled to rely on the Highest Marginal Rate of which it has most recently received notice from the Fund (or, in the absence of such notice, the percentage set forth in the first sentence of this paragraph (c)).

  • In determining the Maximum Rate for any series of APS on any Auction Date, the Auction Agent shall be entitled to rely on the Highest Marginal Rate of which it has most recently received notice from the Fund (or, in the absence of such notice, the percentage set forth in the first sentence of this paragraph (c)).

  • In determining the Maximum Rate for any series of Municipal Preferred on any Auction Date, the Auction Agent shall be entitled to rely on the Highest Marginal Rate of which it has most recently received notice from the Trust (or, in the absence of such notice, the percentage set forth in the Request and Acceptance Letter).

  • If there is any change in the Highest Marginal Rate, the Trust shall notify the Auction Agent in writing of such change prior to 12:00 Noon, New York City time, on the Business Day prior to the next Auction Date for Municipal Preferred succeeding such change.