Stepped-Up Tax Basis definition
Stepped-Up Tax Basis is defined in Section 2.05(b).
Examples of Stepped-Up Tax Basis in a sentence
As promptly as practicable following the payment of any amount hereunder, Cendant shall deliver to WEX an amended Basis Schedule that takes into account the amount of such payment (other than Imputed Interest) as an adjustment to the Purchase Price and recomputes the Stepped-Up Tax Basis of each Asset or class of Assets according to the principles set forth in Section 2.05(b).
Absent a Final Determination to the contrary, the parties shall file or cause to be filed all Tax Returns and other documents in a manner consistent with this Section 2.05, including the Stepped-Up Tax Basis, and shall not take, or permit any Affiliate to take, any position inconsistent therewith.