Definition of Tax Reserve

  1. Tax Reserve means the amount that Borrower is estimated to owe in sales and use taxes, assumed for the purpose of determining availability under Section 2.1 to be the amount stated on the Telkonet, Inc. and Ethostream, LLC Sale/Use Tax Voluntary Disclosure Agreement Ledger, as revised from time to time.

Examples of Tax Reserve in a sentence

  1. Lender shall, or Lender shall direct the Cash Management Bank to, pay to the taxing authority such amounts to the extent funds in the Tax Reserve Account are sufficient to pay such Impositions.
  2. * Borrower shall deposit Fifty Thousand and No/100 Dollars ($50,000.00) in the Interest and Tax Reserve Account.

Definition of Tax Reserve in Purchase Agreement

Tax Reserve means the aggregate amount of any reserve or accrual for Taxes taken into account in the determination of Closing Date Working Capital.


Definition of Tax Reserve in Plan of Merger

Tax Reserve means, with respect to the Company, (i) the amount of current Taxes (excluding any provision for deferred Taxes) reflected as a liability on the Unaudited Balance Sheet, as defined in Section 3.07, and (ii) any additional Taxes accrued in the ordinary course of business between the date of the Unaudited Balance Sheet and the close of the Closing Date, to the extent the Taxes referred to in clause (i) or clause (ii) have not been paid prior to the Closing Date.


Definition of Tax Reserve in Second Amended and Restated Credit Agreement

Tax Reserve means a reserve established by the Administrative Agent from time to time in its Credit Judgment for the amount of all the Loan Parties' accrued and unpaid sales, use and excise taxes.