Tax Benefit Amount definition

Tax Benefit Amount is defined in Section 4.6.1(a).

Tax Benefit Amount means the ------------------ cumulative excess (if any) of (A) the Taxes that would have been payable by Endo and its Subsidiaries for all taxable periods or portions thereof after the Effective Date if none of the Endo LLC Options had been exercised over (B) the actual Taxes payable by Endo and its Subsidiaries for such periods. For the avoidance of doubt and for purposes of this Section 1(d), in order to determine the Tax Benefit Amount for any taxable period of Endo and its Subsidiaries in which a net operating loss carryforward deduction ("NOL") is utilized, the --- portion of the NOL attributable to deductions resulting from the exercise of Endo LLC Options shall be treated as utilized last. By way of example, and solely for the avoidance of doubt, if Endo has a loss for tax purposes in Year 1 of $100, consisting of $65 of deductions attributable to the exercise of Endo LLC Options and $35 of deductions attributable to interest expense, and in Year 2 Endo has $40 of taxable income prior to application of the NOL, $35 of the $40 NOL applied against Year 2 income will be deemed to be attributable to the interest expense and $5 of the NOL will be deemed attributable to the exercise of the Endo LLC Options. Therefore, the Tax Benefit Amount would be the Taxes that would have been payable by Endo if its NOL in Year 2 had been only $35. The NOL carryforward to Year 3 of $60 would then be treated as consisting entirely of deductions resulting from the exercise of the Endo LLC Options.

Tax Benefit Amount means, with respect to the payment of a liability by a Party or any of its Subsidiaries, an amount equal to the reduction in Taxes due and payable during the Tax Benefit Period resulting from the payment of such liability, as determined at any relevant time (including, for the avoidance of doubt, at any time during the Tax Benefit Period), which for each taxable period during the Tax Benefit Period, shall equal the sum of:

Examples of Tax Benefit Amount in a sentence

• In the event that Astellas (including its successors, transferees, and assigns) makes an additional payment to Ironwood under this paragraph and Astellas’s deduction or withholding of Tax results in a Tax Benefit Amount for any taxable year, Ironwood will so notify Astellas and, within 12 months of the close of the taxable year, promptly pay to Astellas the Tax Benefit Amount.

• If, upon final determination of Tax Benefit Amount and Recoveries, the amount paid by AWA pursuant to Section 4.1.3 on account of Indemnified Excess Costs is inaccurate, then, as applicable, either (x) AWA shall pay Buyers in cash the amount of any deficiency or (y) Buyers shall pay AWA in cash the amount of any overpayment, (subject to the proviso at the end of Section 4.1.2.2(ii)).

• The Leakage Amount shall be deemed to be equal to (i) the amount of Leakage during or for the Locked Box Period, whether payable during or after the Locked Box Period, less (ii) the Leakage Tax Benefit Amount.

• Any amounts deemed repaid, as aforesaid, shall therefore be treated as Aggregate Indemnification Payments in accordance herewith, i.e. to the extent of the original Loan Amount for such year reduced by the payments made in respect of Recoveries and the Tax Benefit Amount.

• The Aggregate Indemnification Payments made by AWA pursuant to this Section 4, after giving effect to the Tax Benefit Amount and Recoveries, if applicable, shall constitute reductions to the Purchase Price paid by Buyers in respect of the API Purchase.

More Definitions of Tax Benefit Amount

Tax Benefit Amount means the amount, if any, that is equal to the excess of the United States federal, state or other income taxes that would have been imposed on Ironwood had there been no deduction or withholding giving rise to an additional payment over the United States federal, state or other income taxes actually imposed on Ironwood when there is such deduction or withholding.

Tax Benefit Amount means the amount by which the Tax liabili- ty of the relevant party or an Affiliate thereof or any com- bined, consolidated or unitary group of corporations including the party or such Affiliate is reduced (including, without limitation, by deduction, reduction of income, refund, credit or otherwise) plus any related interest received from a Tax Authority.

Tax Benefit Amount means the product of 35% and the expected net operating loss for U.S. federal income purposes for the taxable year beginning on October 1, 2020 and ending on the Closing Date determined by allocating Tax Transaction Expenses to the Pre-Closing Tax Period to the extent permitted by applicable Law, provided that (i) to the extent that the amount of the expected net operating loss for the taxable year beginning on October 1, 2020 exceeds the taxable income shown on the U.S. federal income Tax Returns for the taxable years ended on September 30, 2016 and September 30, 2017, then “24.5%” shall be substituted for “35%” to the extent of such excess, and (ii) to the extent that the amount of the expected net operating loss for the taxable year beginning on October 1, 2020 exceeds the taxable income shown on the U.S. federal income Tax Returns for the taxable years ended on September 30, 2016, September 30, 2017 and September 30, 2018, then “21%” shall be substituted for “24.5%” to the extent of such excess.

Tax Benefit Amount means an amount equal to 20.4% multiplied by the Transaction Tax Deductions. "Tax Escrow Account" has the meaning set forth in Section 2.16.

Tax Benefit Amount has the meaning specified in Section 7.9(b).

Tax Benefit Amount means $15,461,847, which amount equates to the value assigned by the parties to the Transaction Tax Benefit.

Tax Benefit Amount means the product of (i) the aggregate tax deductions of Parent, the Company, and the Surviving Company attributable to the Option Consideration payable to U.S. based personnel multiplied by (ii) forty percent (40%).