Definition of Tax Detriment Amount


Tax Detriment Amount shall mean any and each of: (i) the amount of Escrowed Funds distributed to MB Bank or separately paid by the Principal Stockholders to MB Bank pursuant to this Agreement that is included or otherwise includable as income by MB or MB Bank for federal income tax purposes multiplied by
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Examples of Tax Detriment Amount in a sentence

Within fifteen (15) days after receipt of such written notice, each Principal Stockholder shall pay to MB his, her or its Individual Tax Detriment Amount.
Upon the occurrence of an event giving rise to a Tax Detriment Amount, MB shall give written notice relative thereto to each Principal Stockholder and such notice shall describe in reasonable detail the event giving rise to a Tax Detriment Amount with the calculation of such Principal Stockholders repayment obligation to MB.