Unrefunded Amount definition
Unrefunded Amount means an amount equal to $23 million (1) less the sum of (i) the Company’s $4.0 million overpayment of its 2012 U.S. federal income Tax liability that was applied to its 2013 estimated U.S. federal income Tax liabilities in September 2013 and (ii) the aggregate amount of cash actually received by the Company between the date hereof and the Closing Date arising from any restatement of previous years’ Tax Returns or a refund of previous years’ U.S. federal income Tax liability and (2) plus an amount equal to the amount incurred or reasonably expected to be incurred by the Company in respect of its 2013 U.S. federal and state income or franchise Tax liability in excess of the $4.0 million referred to in clause (1).
Unrefunded Amount means an amount equal to $21,021,673 less the aggregate amount of cash actually received by the Company between the date hereof and the Closing Date arising from any amendment, restatement or adjustment of the Company’s 2012 or earlier years’ Tax Returns or a refund of the Company’s 2012 or earlier years’ U.S. federal income Tax liability (but in no event less than zero).
Unrefunded Amount means an amount equal to $23 million (1) less the sum of (i) the Company's $4.0 million overpayment of its 2012 U.S. federal income Tax liability that was applied to its 2013 estimated U.S. federal income Tax liabilities in September 2013 and (ii) the aggregate amount of cash actually received by the Company between the date hereof and the Closing Date arising from any restatement of previous years' Tax Returns or a refund of previous years' U.S. federal income Tax liability and (2) plus an amount equal to the amount incurred or reasonably expected to be incurred by the Company in respect of its 2013 U.S. federal and state income or franchise Tax liability in excess of the $4.0 million referred to in clause (1).
Examples of Unrefunded Amount in a sentence
In the event that the Unrefunded Amount is equal to zero immediately prior to Effective Time, no Shareholders’ Representative shall be appointed, no Contingent Value Rights will be granted at the Effective Time and the CVR Agreement shall not be executed.
More Definitions of Unrefunded Amount
Unrefunded Amount means an amount equal to $21,021,673 less the aggregate amount of cash actually received by the Company between the date hereof and the Closing Date arising from any amendment, restatement or adjustment of the Company's 2012 or earlier years' Tax Returns or a refund of the Company's 2012 or earlier years' U.S. federal income Tax liability (but in no event less than zero).