Projected Tax Benefit Schedule definition

Projected Tax Benefit Schedule means, as of the Early Termination Notice Date or a Change of Control Date, as applicable (the “Freeze Date”), a model, prepared by an Accounting Firm, designed to predict all payments required to be made pursuant to this Agreement beginning at the last Exchange Date, based on the Life of Mine Tax Model and (i) taking into account all changes to U.S. federal tax law, including, but not limited to, changes in tax rates, the rules governing percentage and cost depletion, and the Section 199 Rules enacted or promulgated after the date of the Life of Mine Tax Model and on or before the Freeze Date (including any such changes that are not scheduled to take effect until after the Freeze Date); (ii) incorporating the assumption that all non-amortizable, non-depletable, non-depreciable Adjustable Assets will be deemed to be disposed of, at a price equal to their tax basis, on the later of the Freeze Date and the fifteenth anniversary of the date of the Initial Sale and (iii) if a carryback from a Taxable Year gives rise to a refund with respect to a prior Taxable Year, such refund shall, for purposes of computing payments required to be made pursuant to this Agreement, be treated as an offset to the tax liability for the Taxable Year in which the carryback arises (and if the refund exceeds such tax liability, a negative tax liability for such year) and not as an adjustment to the tax liability of the prior Taxable Year. For the avoidance of doubt, if, in any year projected, there is calculated to be a greater actual tax liability than hypothetical tax liability (or if both actual and hypothetical tax liabilities are negative, a lesser negative actual tax liability than negative hypothetical tax liability), then pursuant to Sections 4.03(b)(i) and 4.04(c)(iii), the Projected Tax Benefit Schedule shall show a payment due from RTEA to CPE of zero for such projected year. Further, in the case of an early termination, the Projected Tax Benefit Schedule: (i) shall treat all RTEA Units that have not yet been Exchanged as being Exchanged on the Early Termination Notice Date for the cash purchase price Buyer would have paid under the Buyer Assumption Right had such Exchange actually occurred on the Early Termination Notice Date; (ii) shall subtract from each taxable year for which the model predicts a payment an amount equal to the Assumed Administrative Cost; and (iii) shall not reflect any adjustments for inflation with respect to any factual input.
Sample 1
Projected Tax Benefit Schedule means, as of the Early Termination Notice Date or a Change of Control Date, as applicable (the "Freeze Date"), a model, prepared by an Accounting Firm, designed to predict all payments required to be made pursuant to this Agreement beginning at the last Exchange Date, based on the Life of Mine Tax Model and the principles used in preparing the Tax Benefit Schedule and (i) taking into account all changes to U.S. federal tax law, including, but not limited to, changes in tax rates, the rules governing percentage and cost depletion, and the Section 199 Rules enacted or promulgated after the date of the Life of Mine Tax Model and on or before the Freeze Date (including any such changes that are not scheduled to take effect until after the Freeze Date); and (ii) incorporating the assumption that all non-amortizable, non-depletable, non-depreciable Adjustable Assets will be deemed to be disposed of, at a price equal to their tax basis, on the later of the Freeze Date and the fifteenth anniversary of the date of the Initial Sale. Further, in the case of an early termination, the Projected Tax Benefit Schedule shall: (i) treat all RTEA Units that have not yet been Exchanged as being Exchanged on the Early Termination Notice Date for the cash purchase price Buyer would have paid under the Buyer Assumption Right had such Exchange actually occurred on the Early Termination Notice Date and (ii) subtract from each taxable year for which the model predicts a payment an amount equal to the Assumed Administrative Cost.
Sample 1

Examples of Projected Tax Benefit Schedule in a sentence

  • For purposes of computing such present value (or future value), any payment that the Projected Tax Benefit Schedule provides that RTEA should receive from Buyer with respect to Taxes of a Taxable Year shall be treated as payable on the due date (without extensions) for filing the U.S. federal income tax return of Buyer with respect to such Taxes for such Taxable Year.

  • Please advise us of the following: · Tell us whether this gain resulted from the application of the Early Termination Rate (i.e. discount rate) to determine the value of the Early Termination Payment under Section 4.03(b) of the TRA, from significant changes in assumptions used to determine the Projected Tax Benefit Schedule for purposes of the Early Termination Payment, or both.

  • Please advise us of the following: • Tell us whether this gain resulted from the application of the Early Termination Rate (i.e. discount rate) to determine the value of the Early Termination Payment under Section 4.03(b) of the TRA, from significant changes in assumptions used to determine the Projected Tax Benefit Schedule for purposes of the Early Termination Payment, or both.

Related to Projected Tax Benefit Schedule

  • Tax Benefit Schedule is defined in Section 2.02 of this Agreement.

  • Benefit Schedule means a schedule of benefits attached to these Terms and Benefits which sets out, among others, the benefit items and maximum benefits covered.

  • Tax Detriment means any item of income, gain, recapture of credit or any other Tax Item which increases Taxes paid or payable.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • Tax Benefit means any refund, credit, or other reduction in otherwise required Tax payments.

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • Tax Amount has the meaning set forth in Section 4.01(b)(i).

  • Realized Tax Detriment means, for a Taxable Year, the excess, if any, of the Actual Tax Liability over the Hypothetical Tax Liability. If all or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination.

  • Cumulative Net Realized Tax Benefit for a Taxable Year means the cumulative amount of Realized Tax Benefits for all Taxable Years of the Corporate Taxpayer, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period. The Realized Tax Benefit and Realized Tax Detriment for each Taxable Year shall be determined based on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination.

  • Combined Tax Return means a Tax Return filed in respect of U.S. federal, state, local or non-U.S. income Taxes for a Combined Group, or any other affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) Tax Return of a Combined Group.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Tax Attribute means a net operating loss, net capital loss, unused investment credit, unused foreign tax credit, excess charitable contribution, general business credit or any other Tax Item that could reduce a Tax.

  • Recovered tax increment value means, except as otherwise

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • After Tax Amount means the amount of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments. For purposes of determining the After Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Net After-Tax Benefit means the Present Value of a Payment net of all federal state and local income, employment and excise taxes imposed on Executive with respect thereto, determined by applying the highest marginal rate(s) applicable to an individual for Executive’s taxable year in which the Change in Control occurs.

  • Tax Attributes means net operating losses, capital losses, tax credit carryovers, earnings and profits, foreign tax credit carryovers, overall foreign losses, previously taxed income, tax bases, separate limitation losses and any other losses, deductions, credits or other comparable items that could affect a Tax liability for a past or future taxable period.

  • Assumed Tax Rate means the highest effective marginal combined U.S. federal, state and local income tax rate for a Fiscal Year prescribed for an individual or corporate resident in New York, New York (taking into account (a) the nondeductiblity of expenses subject to the limitation described in Section 67(a) of the Code and (b) the character (e.g., long-term or short-term capital gain or ordinary or exempt income) of the applicable income, but not taking into account the deductibility of state and local income taxes for U.S. federal income tax purposes). For the avoidance of doubt, the Assumed Tax Rate will be the same for all Partners.

  • Unpaid estimated income tax means estimated income tax due but not paid by the date the tax is required to be paid under applicable law.

  • Tax Benefits means the net operating loss carryovers, capital loss carryovers, general business credit carryovers, alternative minimum tax credit carryovers, foreign tax credit carryovers, any loss or deduction attributable to a “net unrealized built-in loss” within the meaning of Section 382 of the Code, and the Treasury Regulations promulgated thereunder, of the Company or any of its Subsidiaries.

  • Taxable Period means any taxable year or any other period that is treated as a taxable year with respect to which any Tax may be imposed under any applicable statute, rule or regulation.

  • Base Tax Year means the property tax levy year used

  • Agreement combined tax rate means the sum of the tax rates:

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;