Tax Benefit definition

Tax Benefit means any refund, credit, or other item that causes reduction in otherwise required liability for Taxes.

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Tax Benefit shall have the meaning provided in Section 4.04(c).

Tax Benefit means the Tax effect of any item of loss, deduction or credit or any other item (including increases in Tax basis) which decreases Taxes paid or required to be paid, including any interest with respect thereto or interest that would have been payable but for such item.

Examples of Tax Benefit in a sentence

• Notwithstanding anything to the contrary in this Agreement, to the extent that any Tax Attributes increase UTPR Taxes over the amount of UTPR Taxes that would be payable absent the Tax Attributes (as determined on a “with and without” basis in a manner consistent with this Agreement), the Realized Tax Benefit or Realized Tax Detriment shall be decreased or increased, as applicable, to take into account such increase in UTPR Taxes.

• Notwithstanding anything to the contrary in this Agreement, if any Unvested Unit is forfeited, no Tax Benefit Payment (or any other payment under this Agreement) that is attributable to such Unvested Unit and would otherwise become due and payable after the date of such forfeiture shall be required to be made.

• For the avoidance of doubt, the determination of whether Tax Benefit Payments are not payable as a result of the application of Section 3.7 shall not be relevant in the determination of whether a Net Tax Benefit is eligible to be allocated to the relevant TRA Party for purposes of this Section 3.3.

• All costs and expenses incurred in connection with the provision and preparation of the Attribute Schedules and Tax Benefit Schedules (as defined below) for each TRA Party in compliance with this Agreement shall be borne by OpCo.

• The amount retained by PubCo in respect of any Exchange TRA Party until the occurrence of a Threshold Exchange (such Exchange TRA Party’s “Retained Amount”) shall include the Interest Amount in respect of any associated Net Tax Benefit, calculated through the due date for the Tax Benefit Payment that would otherwise apply under Section 3.1(a), but shall not otherwise accrue interest.

More Definitions of Tax Benefit

Tax Benefit means the net operating loss carryovers, capital loss carryovers, general business credit carryovers, alternative minimum tax credit carryovers and foreign tax credit carryovers, as well as any loss or deduction attributable to a “net unrealized built-in loss” within the meaning of Section 382, of the Corporation or any direct or indirect subsidiary thereof.

Tax Benefit means any refund, reimbursement, offset, credit, or other reduction in liability for Taxes.

Tax Benefit means any refund, credit, or other reduction in otherwise required Tax payments.

Tax Benefit shall have the meaning set forth in Section 9.3(c).

Tax Benefit means any reduction in liability for Tax as a result of any loss, deduction, refund, credit, or other item reducing Taxes otherwise payable.

Tax Benefit means a reduction in the Tax liability of a taxpayer (or of the affiliated group of which it is a member) for any taxable period. Except as otherwise provided in this Agreement, a Tax Benefit shall be deemed to have been realized or received from a Tax Item in a taxable period only if and to the extent that the Tax liability of the taxpayer (or of the affiliated group of which it is a member) for such period, after taking into account the effect of the Tax Item on the Tax liability of such taxpayer in the current period and all prior periods, is less than it would have been if such Tax liability were determined without regard to such Tax Item.

Tax Benefit means any Tax Item which decreases Taxes paid or payable.