Definition of Tax Loss


Tax Loss means, with respect to any Subject Fund, the amount any investment tax credit under Section 48(a)(3)(A)(i) of the Code or any successor provision, or any other tax benefit, that such Subject Fund or its Lessee or Investor, shall lose the benefit of, shall not have the right to claim, shall suffer the disallowance of, shall be required to recapture or shall not claim.

Examples of Tax Loss in a sentence

In the event of an Indemnified Tax Loss, the Owner Participant shall give EME written notice thereof accompanied by a written statement (the Statement) describing such Indemnified Tax Loss in reasonable detail, stating the amount the Owner Participant believes to be payable by EME on account thereof pursuant to the terms hereof and providing the computation of such amount.
No exclusion contained in the Policy bars our claim for the Insured Tax Loss described above.
Lessee shall also pay Lessor on demand all interest, costs (including Attorneys Fees), penalties and additions to tax associated with the Tax Loss.
In the event of an LVSI Adjustment, the Company hereby agrees to pay to each of the Stockholders an amount equal to such Stockholders Tax Loss attributable to such LVSI Adjustment.
In the event of an Interface Adjustment, the Company hereby agrees to pay to each of the Stockholders an amount equal to such Stockholders Tax Loss attributable to such Interface Adjustment.