Definition of Taxable Event


Taxable Event means any event in connection with the receipt of Shares or cash hereunder with respect to which a Participant recognizes taxable income.

Examples of Taxable Event in a sentence

At such times as a Grantee recognizes taxable income in connection with the rights to acquire Common Units granted hereunder (a Taxable Event), the Grantee shall pay to the Partnership an amount equal to the federal, state and local income taxes and other amounts as may be required by law to be withheld by the Partnership in connection with the Taxable Event (the Withholding Taxes) prior to the issuance of such units.
The Employee and the Company jointly elect that the entire liability of the Employer to pay the Employer's Liability on the Taxable Event is hereby transferred to the Employee.
At such times as the Optionee recognizes taxable income in connection with the receipt of Shares hereunder (a "Taxable Event"), the Optionee shall pay to the Company an amount equal to the federal, state and local income taxes and other amounts as may be required by law to be withheld by the Company in connection with the Taxable Event (the "Withholding Taxes") prior to the issuance, or release from escrow, of such Shares.
At such time as the Participant has taxable income in connection with an Award (a Taxable Event), the Company will require payment or the withholding of a portion of shares then issuable to the Participant having an aggregate Fair Market Value equal to, but not in excess of an amount equal to, the minimum federal, state and local income taxes and other amounts as may be required by law to be withheld by the Company in connection with the Taxable Event.
The Employee and Sun jointly elect that the entire liability of the UK Employer to pay the Employers Liability on the Taxable Event is hereby transferred to the Employee.