Tax Amounts means 871(m) Taxes that may be paid, withheld or deducted by Citibank;
Tax Amounts of a Member for a Fiscal Year or other period shall mean the product of (a) the Tax Rate for such Fiscal Year or other period, and (b) the Member’s Tax Amount Base for such Fiscal Year or other period, and shall be reduced by (c) any United States federal, state or local income tax credits allocated to the Member by the Company for such Fiscal Year or other period, all as estimated in good faith by the Company.
Tax Amounts with respect to any taxable period shall not exceed an amount equal to (a) the product of (i) the taxable income of the Company for such period as determined by the Tax Amounts CPA and (ii) the Tax Percentage reduced by (b) to the extent not previously taken into account, any income tax benefit attributable to the Company which could be realized (without regard to the actual realization) by its members in the current or any prior taxable year, or portion thereof, commencing on or after the Issue Date (including any tax losses or tax credits), computed at the applicable Tax Percentage for the year that such benefit is taken into account for purposes of this computation.
Examples of Tax Amounts in a sentence
I will be solely responsible for any taxes (reduced by any Tax Amounts paid, withheld or deducted by Citibank, as described herein), costs or other expenses imposed in connection with any Ineligible Transaction that does occur in my CIM Managed Account.
I acknowledge that Tax Amounts may be due with respect to an 871(m) Transaction even where: (a) there is no corresponding payment of cash to me; or (b) there is a payment of cash by me to another person.
If the Tax Amounts that Citibank pays, withholds or deducts are less than the full amount of taxes (including any state, local or foreign taxes) due in respect of an 871(m) Transaction, I will be responsible for paying such taxes.
If the Tax Amounts that Citibank pays, withholds or deducts are greater than the full amount of taxes due in respect of an 871(m) Transaction, I will be responsible for claiming any refunds, credits or exemptions with the relevant taxing authority.
I agree that Citibank, acting reasonably and in good faith, will determine: (a) the status of any transaction as an “871(m) Transaction”; (b) the amount of any Tax Amounts; and (c) the amount of any Indemnified 871(m) Taxes.
More Definitions of Tax Amounts
Tax Amounts with respect to any year shall not exceed an amount equal to (a) the higher of (i) the product of (A) the taxable income of the Partnership (computed as if the Partnership were an individual) for such year as determined in good faith by the board of directors of the General Partner and (B) the Tax Percentage and (ii) the product of (A) the alternative minimum taxable income attributable to the Partnership (computed as if the Partnership were an individual) for such year as determined in good faith by the board of directors of the General Partner and (B) the Tax Percentage, reduced by (b) to the extent not previously taken into account, any income tax benefit attributable to the Partnership which could be realized (without regard to the actual realization) by its Partners in the current or any prior taxable year, or portion thereof, commencing on the date of this Agreement (including any tax losses or tax credits), computed at the applicable Tax Percentage for the year that such benefit is taken into account for purposes of this computation. Any part of the Tax Amount not distributed in respect of a tax period for which it is calculated shall be available for distribution in subsequent tax periods.
Tax Amounts means (1) Manager Tax Amounts, (2) Manager Repayment Note Tax Amounts, (3) L/C Provider Tax Amounts and (4) Permitted Tax Distributions.
Tax Amounts with respect to any year means (a) an amount equal to the higher of (i) the product of (A) the taxable income of the relevant Credit Party for such year as determined in good faith by its Board of Directors; and (B) the Tax Percentage (as defined below), and (ii) the product of (A) the alternative minimum taxable income attributable to such Credit Party for such year as determined in good faith by its Board of Directors; and (B) the Tax Percentage, in either case, reduced by (b) to the extent not previously taken into account, any income tax benefit attributable to such Credit Party solely as a result of its investment in the Credit Parties (including without limitation, tax losses, alternative minimum tax credits, other tax credits and carryforwards and carrybacks thereof) (to the extent such benefit is realized in the year for which the Tax Amount is being determined); provide, however, that in no event shall such Tax Percentage exceed the greater of (1) the highest aggregate applicable statutory marginal rate of Federal, state and local income tax or, when applicable, alternative minimum tax, to which a corporation doing business in New York City would be subject in the relevant year of determination (as certified to the Purchasers by a nationally recognized tax accounting firm); and (2) 50%. Any part of the Tax Amount not distributed in respect of a tax period for which it is calculated shall be available for distribution in subsequent tax periods. The term "Tax Percentage" is the highest aggregate applicable effective marginal rate of Federal, state and local income tax or, when applicable, alternative minimum tax, to which an individual shareholder of the Credit Party would be subject in the relevant year of determination (calculated in good faith by the Credit Party and certified to the Purchaser by a nationally recognized tax accounting firm). Distributions of Tax Amounts may be made from time to time with respect to a tax year based on reasonable estimates, with a reconciliation within 40 days of the earlier of (i) the Credit Party's filing of the Internal Revenue Service Form 1120S for the applicable taxable year; and (ii) the last date such form is required to be filed (without regard to any extensions). The stockholders of each Credit Party will enter into a binding agreement with each Credit Party to reimburse the applicable Credit Party for certain positive differences between the distributed amount and the Tax Amount, which difference must b...
Tax Amounts means, with respect to any taxable period, an amount equal to (A) the product of (x) the taxable income of the Borrower and its consolidated Subsidiaries for such period as determined by the Tax Amounts CPA and (y) the Tax Percentage reduced by (B) to the extent not previously taken into account, any income tax benefit attributable to the tax items of the Borrower and its consolidated Subsidiaries which could legally be realized (without regard to the actual realization) by the Taxpayers with respect to tax items of the Borrower and its consolidated Subsidiaries in the current or any prior taxable year, or portion thereof, commencing on or after the Closing Date (including any tax losses or tax credits up to the aggregate amount of income tax benefits previously legally realizable by the Taxpayers), computed at the applicable Tax Percentage for the year that such benefit is taken into account for purposes of this computation.
Tax Amounts shall have the meaning specified in Section 3.02. ----------- ------------
Tax Amounts with respect to any taxable period shall not exceed an amount equal to (A) the product of (x) the taxable income of the Company for such period (or as
Tax Amounts with respect to any year means an amount no greater than (a) the higher of (i) the product of (A) the taxable income of the Company (treating the Company as if it were an individual) for such year as determined in good faith by the Board of Directors of Funding and (B) the Tax Percentage and (ii) the product of (A) the alternative minimum taxable income attributable to the Company (treating the Company as if it were an individual) for such year as determined in good faith by the Board of Directors of Funding and (B) the Tax Percentage, reduced by (b) to the extent not previously taken into account, any income tax benefit attributable to the Company which could be realized (without regard to the actual realization) by its Partners in the current or any prior taxable year, or portion thereof, commencing on or after the Issue Date (including any tax losses or tax credits), computed at the applicable Tax Percentage for the year that such benefit is taken into account for purposes of this computation. Any part of the Tax Amount not distributed in respect of a tax period for which it is calculated shall be available for distribution in subsequent tax periods.