Tax Refund Amount means, (a) during the period from (i) the date of receipt by the Administrative Agent of a copy of the Form 1139 filed with the Internal Revenue Service by the Borrower in respect of the Tax Refund and copies of Forms 8302 and 8821 or such other relevant Internal Revenue Service forms necessary to be filed with the Internal Revenue Service (as so filed) in order for the Tax Refund to be paid directly into a Blocked Account and for notices from the Internal Revenue Service denying or reducing the amount of the Tax Refund be delivered to the Administrative Agent,to (ii) the earlier to occur of (A) September 30, 2009 and (B) the date on which the Borrower receives the Tax Refund, an amount equal to the lesser of 75% of the Tax Refund and $9,000,000 and (b) thereafter, $0.00.
The Grimes County Tax Refund Amount shall be zero if a Final Resolution does not occur on or before the Closing Date; provided, however, that the Company shall receive credit toward the Grimes County Tax Refund Amount for the amount of any third-party payments received (net of any tax cost and any out-of-pocket expenses associated with such payments from the date hereof) by the Company with respect to the Grimes County Tax Amount on or before the Closing Date.
No later than the first ---------------------------- Business Day following the date of receipt by any Borrower or any of its Subsidiaries of any tax refund for any Fiscal Year, the Borrowers shall prepay the 21 Loans in an amount ("Tax Refund Amount") equal to one hundred percent ----------------- (100%) of such tax refund.
The Grimes County Tax Refund Amount shall mean any tax refund to which the Company is entitled to receive relating to the Grimes County Tax Matter for which there has been a Final Resolution.
The "Grimes County Tax Refund Amount" shall mean any tax refund to which the Company is entitled to receive relating to the Grimes County Tax Matter for which there has been a Final Resolution.
No later than the next Business Day after the date on which the Administrative Borrower receives payment of the Tax Refund Amount, the Administrative Borrower shall apply $100,000,000 of the proceeds it receives from the Tax Refund Amount to prepay the outstanding principal amount of the Loans, such prepayment to be applied in accordance with Section 2.7(c)(ii).