Subgroup Parent definition
Examples of Subgroup Parent in a sentence
An amount determined to be payable separately as federal income tax by the Subgroups having taxable income under Paragraph 1, and subject to any adjustment under Paragraphs 6, 7, 8 and 9, shall upon notice to the Subgroup Parent be payable to the Parent, within a reasonable time as set forth in paragraph 11.
Each Subgroup Parent shall bear all costs and expenses of preparation and submission of such information, including accountants' and attorneys' fees.
So as to enable TCI to prepare accurately and completely the TCI Consolidated Returns and in order to provide for accurate financial reporting, for tax periods or portions thereof ending on or before the Deconsolidation Date as to any Subgroup Parent, such Subgroup Parent shall provide such information with respect to Taxes (including forecasts, projections and tax accruals) as TCI may reasonably request.
Each Subgroup Parent shall provide such information to Parent as may be requested by Parent in calculating estimated or actual tax amounts.
Upon notice from the Parent to the Subgroup Parents of the amount of the Subgroups’ share of the estimated or actual tax payment to be made, each Subgroup Parent shall make payment of its share to the Parent, provided that such required payment to the Parent shall not significantly, and in no case by more than ten business days, precede the time that a consolidated estimated or actual current tax liability would be due to the tax authorities.
BFC, Woodbridge, BBX and Bluegreen will be the Subgroup Parent of their respective Subgroup listed above and on Schedule A, and each Subgroup Parent will be responsible for the payment to and receipt of taxes as provided for in this Agreement.
Subgroup Parent and each Subsidiary which is a member of the Subgroup are sometimes referred to herein individually as a "Subgroup Member".
For purposes of this Section C.4., for the first two calendar quarters of 1995, the Intercompany Account of each Subgroup Parent shall be deemed to have been credited or charged, as the case may be, with the estimated Federal Tax Benefit or Federal Tax Liability for which each member of such Subgroup Parent's Subgroup was credited or charged with respect to such calendar quarters in connection with the preparation of the financial statements of such Subgroup Member for such calendar quarters.
On the date that any Subgroup Parent ceases to be a member of the TCI Group (the "Deconsolidation Date"), TCI shall pay to such Subgroup Parent an amount equal to any credit balance in the Intercompany Account attributable to such Subgroup Parent, and such Subgroup Parent shall pay to TCI an amount equal to any debit balance in such Intercompany Account, after which payment such Intercompany Account shall be closed.
For each taxable year or portion thereof ending after the Effective Date that a Subgroup Parent is a member of the TCI Group, the amounts referred to in Section D.1. shall be calculated by taking into account the utilization of such tax attributes as though the Subgroup actually filed returns as described in such Section without regard to the actual filings of the TCI Group.