Straddle Year definition
Examples of Straddle Year in a sentence
Such liabilities for any Straddle Year in jurisdictions using the unitary method shall be determined in accordance with Section 2.05(d).
For purposes of calculating the Realized Tax Benefit with respect to a Straddle Year, Taxes of such Straddle Year which arose prior to the Calculation Date (such taxes “Pre-Calculation Taxes”) shall not be reduced by the Pre-IPO Tax Attributes or any deduction attributable to Imputed Interest.
Any of those Tax Returns filed for a Pre-Closing Taxable Year or Straddle Year must report the operations of that member in a manner consistent with its past practice.
Further, in the case of any Straddle Year Tax Return, Parent shall set forth its proposed allocation of the total Taxes shown as due on the draft Tax Return for the Straddle Year between the period ended on the Closing Date (for which the Shareholders shall be accountable) and the period following the Closing Date (for which Parent and the Company shall be accountable).
To the extent that a Company's or Subsidiary's liability for such taxes for Taxable years ending on or before June 30, 1996 plus the portion of such taxes for the portion of the Straddle Year ending on June 30, 1996 is more than the reserve for such taxes included in the Most Recent Financial Statements, Shareholders shall pay to Purchaser such excess (together with the applicable amount of any interest and penalties payable to the applicable taxing jurisdiction with respect to such excess).
CHP will be responsible for preparing and filing with the Straddle Year Jurisdiction all required Tax Returns for the Straddle Year, and shall be responsible for all Taxes attributable to the Post-Closing Straddle Period (with such Taxes referred to as "Post-Closing Straddle Period Taxes").
All out-of-pocket expenses incurred in filing (i) Final Separate Return Year Tax Returns, (ii) Post-Closing 1999 Returns and (iii) any tax return, claim for a refund or other tax filing for tax benefits or tax refunds to be paid to the Shareholders, and one- half of the out-of-pocket expenses incurred in filing Straddle Year Tax Returns, shall be borne by the Shareholders.
With respect to a Tax Claim relating to a Straddle Year, Parent and the Shareholder Parties shall jointly control all proceedings and neither party shall settle or otherwise compromise such Tax Claim without the other party's prior written consent.
In all events, the Shareholders shall have no responsibility for payment and remittal of the Taxes due with the Final Separate Return Year Tax Returns and the Straddle Year Tax Returns, which, to the contrary, solely shall be the responsibility of Parent and the Company, which Parent hereby covenants to discharge or cause to be discharged on a timely basis.
Without the prior written consent of a majority of the Members, with respect to any Pre-Closing Tax Period and any Straddle Year Tax Period, Buyer shall not (and Buyer shall ensure that the Acquired Companies shall not) amend, change, or modify any Tax Return of any Acquired Company, or file a claim for refund with respect to any Tax Returns of any Acquired Company.