Tax Recoverable definition

Tax Recoverable means the tax recoverable account in the current assets account of the Company corresponding to such account in the Company’s 2011 Financial Statements less any Non-Recoverable Taxes; provided, however that any such amount included in such account for which there is not adequate back-up information to support the recoverability of any Taxes included in such account (“Non-Recoverable Taxes”) shall not be considered Tax Recoverable for purposes of this Agreement; and provided further that the Parties hereto agree as of the date of the Unaudited Financials, (i) the Tax Recoverable for purposes of this Agreement amounted to R$2,248,000.00 and (ii) Non-Recoverable Taxes for purposes of this Agreement amounted to R$1,200,000.00.
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Examples of Tax Recoverable in a sentence

  • The Purchaser shall, within seven (7) business days from the date any income tax recoverable and deferred expenses accrued to the Target Group companies for the period up to the completion (“Income Tax Recoverable”) shall be received and recovered by the Target Group companies, pay to the Company such amount equivalent to the Income Tax Recoverable received and recovered.

  • The Seller Group has not engaged in any conduct that would result in the loss of any PADIS Tax Credit or Corporate Income Tax Recoverable.

  • The Purchaser shall, within seven (7) business days from the date any Income Tax Recoverable shall be received and recovered by the Target Group companies, pay to the Vendor such amount equivalent to the Income Tax Recoverable received and recovered.