Definition of Tax Liability Amount

  1. Tax Liability Amount means, with respect to any Member, for any given Fiscal Year, an amount equal to (a) the Assumed Tax Rate multiplied by (i) the taxable income and gain allocated to such Member for such Fiscal Year (as shown on the applicable Internal Revenue Service Form 1065 Schedule K-1 filed by the Company), excluding partner-level taxable income adjustments made under Code Section 743(b), minus (ii) the cumulative losses that have been allocated to such Member to the extent such losses have not previously reduced taxable income and gain pursuant to this provision, minus (b) the sum of (x) such Member's pro rata share of any creditable foreign taxes imposed on and paid by the Company to a non-U.S. governmental authority, and (y) the amount, if any, of taxes withheld by the Company pursuant to Section 4.7 with respect to such Member.

Examples of Tax Liability Amount in a sentence

  1. CAC Tax Liability Amount means a cash amount sufficient to enable CAC to pay its aggregate tax liabilities in connection with the CIE Sale Transaction as determined by the Managing Member; provided that such amount shall not exceed $300 million in the aggregate.

Definition of Tax Liability Amount in Receivables Sale Agreement

Tax Liability Amount means at any date the amount carried in the Originator's records representing the obligation to pay or reimburse all sales taxes, value added taxes or similar taxes payable with respect to Eligible Receivables and any interest, penalties or other charges with respect thereto.


Definition of Tax Liability Amount in Limited Liability Company Agreement

Tax Liability Amount means, with respect to any Member, for any given Fiscal Year, an amount equal to (a) the Assumed Tax Rate multiplied by (i) the taxable income and gain allocated to such Member for such Fiscal Year (as shown on the applicable Internal Revenue Service Form 1065 Schedule K-1 filed by the Company), excluding partner-level taxable income adjustments made under Code Section 743(b), minus (ii) the cumulative losses that have been allocated to such Member to the extent such losses have not previously reduced taxable income and gain pursuant to this provision, minus (b) the sum of (x) such Member's pro rata share of any creditable foreign taxes imposed on and paid by the Company to a non-U.S. governmental authority, and (y) the amount, if any, of taxes withheld by the Company pursuant to Section 4.7 with respect to such Member.