Examples of Transaction Tax Deduction in a sentence
Notwithstanding anything to the contrary, any Transaction Tax Deduction shall be reflected in the Tax Returns of the Acquired Companies in Tax periods or portions of Tax periods ending on or before the Closing Date, in each case to the extent allowed by applicable Law.
Notwithstanding anything in this Agreement to the contrary, no payments will be required to be made pursuant to this Section 6(d)(viii) with respect to any income Tax benefit attributable to the Transaction Tax Deduction NOL that is actually realized after the fifth anniversary of the Closing Date.
In addition, if Buyer or IBEX realizes any reduction in its liability for Taxes with respect to any taxable period (or portion thereof) ending after the Closing Date resulting, directly or indirectly, from a Transaction Tax Deduction, Buyer shall pay the amount of such reduction to Seller within 10 days after realizing such reduction.
On each Report Date (whether or not a payment is due), Buyer shall submit to the Sellers’ Representative a summary of the federal and state taxable income of the consolidated group that includes the Company or its Subsidiaries with and without taking into account the Transaction Tax Deduction NOL, together with a written statement by a senior tax officer of Buyer that such calculation is accurate and correct and in accordance with this section.
Any Transaction Tax Deduction Benefit (as defined below) realized with respect to each taxable year (or portion thereof) beginning on or after the Closing Date shall be for the account of the Unitholders and the Optionholders or the Purchaser as provided in Section 12.03(c).