PPC Entity definition

PPC Entity means PPC and its direct or indirect subsidiaries. “PPC Group” means, with respect to any Tax Year for which PPC is a member of the applicable Group, (1) PPC and (2) any other PPC Entity that is a member of such Group for such Tax Year. “PPC Separate Return” means, with respect to a Tax, a hypothetical Tax Return of the applicable PPC Group for such Tax on a consolidated, combined, unitary or separate basis, as the case may be, that does not include Parent or any subsidiary of Parent (other than a PPC Entity). “PPC Stand-Alone Combined Prior Payments” shall have the meaning given the term in Section 3.1(d). “PPC Stand-Alone Estimated Payment” shall have the meaning given the term in Section 3.1(b). “PPC Stand-Alone Extension Payment” shall have the meaning given the term in Section 3.1(c). “PPC Stand-Alone Payment” shall have the meaning given the term in Section 3.1(a). “PPC State Tax Asset” means (1) any DRD Benefit for State Income Tax purposes, and (2) with respect to the applicable State Group Members, any Tax Item (or portion thereof) that has accrued for applicable State Income Tax purposes, but has not been used by the applicable PPC Group on its PPC Separate Return during the Tax Year in which it accrued for purposes of the calculations in Section 2, and that could reduce a State Income Tax in such Tax Year or another Tax Year for the applicable Group, including a net operating loss, net capital loss, disallowed business interest, research and experimentation credit, charitable deduction or any other credit, but such term shall not include the Tax basis of an asset. “PPC Tax Asset Payment” shall have the meaning provided in Section 3.1(e). “PPC Tax Contest” shall have the meaning provided in Section 4.3. “Reporting Entity” means (a) with respect to a Federal Consolidated Income Tax Return, Parent, or (b) with respect to a State Consolidated Income Tax Return, the applicable State Reporting Entity. “Revised Parent Payment” shall have the meaning given the term in Section 3.2(a). “Revised PPC Stand-Alone Tax Payment” shall have the meaning given the term in Section 3.2(a). “Revised Parent Tax Asset Payment” shall have the meaning given the term in Section 3.2(a).
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Examples of PPC Entity in a sentence

  • Parent shall cooperate in good faith with PPC and its agents, including accounting firms and legal counsel, in connection with Group Tax matters, including the preparation and filing of Group Returns required to be filed by a PPC Entity.

  • For each Tax Year, if any applicable Reporting Entity is a PPC Entity, Parent shall pay to the applicable Reporting Entity an amount equal to the applicable Parent State Income Tax Amount and Parent Other Group Tax Amount (the “Parent Payment”).

  • In the case of any Group Return which is required by applicable Tax Law to be signed by PPC (or any other PPC Entity), PPC shall cause an appropriate officer to sign such Group Return on its behalf.

Related to PPC Entity

  • JV Entity means any joint venture of the Borrower or any Restricted Subsidiary that is not a Subsidiary.

  • Public entity means this State, a political subdivision of this STATE or an agency, board, commission or department of this state or a political subdivision of this state.

  • Parent Subsidiary means any Subsidiary of Parent.

  • Business entity means a natural or legal person, business corporation, professional services corporation, limited liability company, partnership, limited partnership, business trust, association or any other legal commercial entity organized under the laws of this State or of any other state or foreign jurisdiction;

  • Seller Group Member means Seller and its Affiliates and their respective successors and assigns.