Tax Pool Payment definition
Examples of Tax Pool Payment in a sentence
The Tax Pool Balance at the end of a calendar year will be adjusted to reflect both any inflationary adjustment under the rules of the Colombian Tax Authority and any change in the exchange rate between the US$ and the Colombian peso (or any successory currency) from the beginning of such year to the last day of such year, provided however that such adjustment shall in no event increase the Maximum Tax Pool Payment computed as at Closing.
The Maximum Tax Pool Payment shall be zero if the Tax Pool Amount is equal to or less than the sum of $20,000,000.
The aggregate of all Tax Pool Payments (and deemed Tax Pool Payments pursuant to Section 6.7) to the Vendor shall not exceed a maximum amount (the "Maximum Tax Pool Payment").
The Vendor agrees not to, directly or indirectly, transfer, assign, pledge or otherwise dispose of or encumber the portion of the Colombian Debenture held by it to a third party (including its Affiliate) at such time, if ever, as the amount of any Claims to which the Purchaser may be entitled to indemnification hereunder exceeds the excess of the Performance Earn-Out Balance and the unpaid amount of the Maximum Tax Pool Payment.
The Maximum Tax Pool Payment will be pro-rated downwards if the Tax Pool Amount is less than $50,000,000.
The Tax Pool Amount shall be calculated in U.S. dollars using the exchange rate available for the purchase of U.S. dollars using Colombian pesos on the Closing Date, for the purpose of calculating the Maximum Tax Pool Payment.
For example, if the Tax Pool Amount is equal to $30,000,000, then the Maximum Tax Pool Payment shall be $833,000; if the Tax Pool Amount is equal to $40,000,000, the Maximum Tax Pool Payment is equal to $1,666,000.
The Maximum Tax Pool Payment shall be $2,500,000 if the Tax Pool Amount is equal to or greater than the sum of $50,000,000 on December 31, 1996.
The Colombian Subsidiary (but not the Branch of the Colombian Subsidiary) shall pay the Vendor twenty-five percent (25%) (a "Tax Pool Payment") of any amount otherwise payable by the Colombian Subsidiary to the appropriate Colombian Governmental Entity responsible for tax matters (the "Colombian Tax Authority") but for the utilization by the Colombian Subsidiary of any portion of the Tax Pools Balance.
Any Tax Pool Payment to which the Vendor is entitled to herein shall be paid to the Vendor within sixty (60) days of the date such amounts would otherwise have been payable to the Colombian Tax Authority.