Over-provision definition
Over-provision means, applying the accounting policies, principles and practices in relation to the Completion Accounts (i) the amount by which any provision for Taxation in the Completion Accounts proves to be an over provision; and (ii) the amount by which any repayment of Taxation which is treated (or which could have been treated) as an asset in the Completion Accounts proves to be understated;
Over-provision means the exceedance between the Total Cost of Infrastructure Projects and the Cash Liability equal to the amount of $157,979.07 indexed to the calendar year, as at the date of practical completion of the last Infrastructure Project.
Over-provision has the meaning given to that term in paragraph 8.1.1 of this Schedule;
More Definitions of Over-provision
Over-provision means (ignoring the effect of any Purchaser’s Relief, change in law made or action taken by the Purchaser or any Group Company after Completion (unless such action was carried out by the Group Company concerned pursuant to a legally binding commitment of the relevant Company created on or before Completion or with the prior written agreement or at the written request of the Sellers’ Representative) the amount by which the net amount provided for Tax (other than deferred Tax) in the Accounts in relation to all Group Companies exceeds Tax determined as due for the period ended on the Accounting Date;
Over-provision has the meaning given in Clause 14.8(a)(i).