Refund definition
Examples of Refund in a sentence
Any refund of Taxes paid, or any credit or offset against any liability for Taxes, that is attributable to any Pre-Closing Tax Period and described on Schedule 9.09 (together with any interest received or credited with respect thereto, a “Tax Refund”) shall belong to the Cash Sellers (pro rata in accordance with the Cash Pro Rata Percentage), if a Tax Refund of the Group Companies, or to Blocker Seller, if a Tax Refund of Blocker.
Buyer shall promptly pay (by wire transfer of immediately available funds) the amount of any such Tax Refund to the Sellers Representative (for further distribution to the appropriate Seller Parties) within five (5) Business Days following receipt thereof (or in the case of credit or offset, upon the filing of a Tax Return claiming or otherwise utilizing the benefit thereof) by any Buyer Party, Blocker, the Group Companies or any of their Affiliates.