Receivable Agreements definition
Examples of Receivable Agreements in a sentence
It is intended that the provisions of this Agreement will not result in duplicative payment of any amount (including interest) required under the Tax Receivable Agreements.
It is also intended that the provisions of the Tax Receivable Agreements will result in 85% of the Cumulative Net Realized Tax Benefit, and the Accrued Amount thereon, being paid to the Persons to whom payments are due pursuant to the Tax Receivable Agreements.
In addition, it is intended that the provisions of this Agreement will not result in a duplicative payment of any amount payable under the Other Tax Receivable Agreements.
In connection with any such Compliance Review, Company will permit any authorized representatives designated by the Administrative Agent to review Company’s form of Receivable Agreements, Underwriting Policies, information processes and controls, compliance practices and procedures and marketing materials (“Materials”).
For the avoidance of doubt, the actual liability for Taxes of APAM will take into account the deduction of the portion of the Tax Benefit Payment that must be accounted for as interest under the Code based upon the characterization of Tax Benefit Payments (as defined in each of the Tax Receivable Agreements) as additional consideration payable by APAM for the LP Units acquired in an Exchange or pursuant to the Merger.
This Agreement (along with the Other Tax Receivable Agreements) constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof.
In no event shall Corporate Taxpayer be required with respect to any taxable year to pay an aggregate amount pursuant to this Article III and Article III of the Other Tax Receivable Agreements in excess of the Tax Benefit Payment for such taxable year.
In the event that one or more (but not all) of the Tax Receivable Agreements are terminated as of a given time, then the calculation of payments pursuant to the Tax Receivable Agreements that were not terminated shall be made as if no Tax Receivable Agreements were terminated.
In connection with any such Compliance Review, Company will permit any authorized representatives designated by the Administrative Agent to review Company’s form of Receivable Agreements, Underwriting Policies, information processes and controls, and compliance practices and procedures (“Materials”).
In addition, the Corporate Taxpayer may, at its sole election, make Advance Payments to the TRA Party in respect of a Taxable Year; provided that, if the Corporate Taxpayer makes Advanced Payments, it shall make Advance Payments to all parties eligible to receive payments under all of the Tax Receivable Agreements in proportion to their respective amount of anticipated remaining payments under the applicable Tax Receivable Agreement in respect of such Taxable Year.