PURTA definition

PURTA has the meaning set forth in Section 3.5(c).
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Examples of PURTA in a sentence

  • As soon as practicable after the Closing, Seller and Buyer shall cooperate in the filing of an amended return and/or other documents in order to obtain the available refund with respect to any Closing Year PURTA Tax.

  • In addition, Sellers shall reimburse Buyer, in accordance with this Section 3.5(c), for its proportionate share of PURTA, additional PURTA assessments or any successor tax or fee ▇▇▇▇▇d or assessed, ▇▇▇▇ respect to the Purchased Assets, against Buyer for the calendar year in which the Closing occurs.

  • Buyer shall be entitled to such refund to th▇ ▇▇▇ent, but only to the extent, that it does not exceed any payments made by Buyer on account of such PURTA liability.

  • Buyer shall be entitled to such refund to the extent, ▇▇▇ only to the extent, that it does not exceed any payments made by Buyer on account of such PURTA liability.

  • For example, if Closing occurs on December 1, 1999, and Buyer incurs $1,000,000 in PURTA, additional PURTA assessments or any successor tax or fee, ▇▇▇▇ Sellers' propo▇▇▇▇▇ate share of such tax or fee shall be calculated by multiplying $1,000,000 by a fraction, the numerator of which is the amount of calendar days in 1999 which Seller owned the Purchased Assets (335), and the denominator of which is the amount of days in 1999 (365).

  • As soon as practicable after the Closing, Sellers and Buyer shall cooperate in the filing of an amended return and/or other documents in order to obtain the available refund with respect to any Closing Year PURTA Tax.

  • Seller and Buyer agree to furnish each other with such documents and other records as may be reasonably requested in order to confirm all adjustment and proration calculations made pursuant to this Section 3.5. Notwithstanding anything to the contrary herein, no proration shall be made under this Section 3.5 with respect to Taxes payable under the Pennsylvania Public Utility Realty Tax Act ("PURTA") that are attributable to the year in which the ▇▇▇▇ing occurs (the "Closing Year PURTA Tax").