Common use of Refund Clause in Contracts

Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by Owner, such Tax Indemnitee shall pay to Owner within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner to such Tax Indemnitee theretofore made pursuant to this Section 8.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner to make payments to such Tax Indemnitee pursuant to this Section 8.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner prior to the receipt of such refund or realization of such credit.

Appears in 28 contracts

Samples: Note Purchase Agreement (United Airlines, Inc.), Note Purchase Agreement (Sun Country Airlines Holdings, Inc.), Note Purchase Agreement (Hawaiian Holdings Inc)

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Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by OwnerLessee, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner Lessee to such Tax Indemnitee theretofore made pursuant to this Section 8.3 9.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner Lessee to make payments to such Tax Indemnitee pursuant to this Section 8.39.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner Lessee prior to the receipt of such refund or realization of such credit.

Appears in 14 contracts

Samples: Participation Agreement (Continental Airlines Inc /De/), Participation Agreement (Continental Airlines Inc /De/), Participation Agreement (Continental Airlines Inc /De/)

Refund. If in the ordinary course of administering its Tax affairs any Tax Indemnitee shall receive determines or discovers the existence of a refund ofrefund, or be that such Tax Indemnitee is entitled to a credit against other liability forliability, all which such refund or any credit is in whole or in part of directly attributable to any Taxes paid, reimbursed reimbursed, or advanced by OwnerBorrower pursuant to Section 9.3, such Tax Indemnitee shall pay to Owner Borrower within 30 thirty (30) days of such receipt an amount equal to the lesser of (ai) the amount of such refund or credit that is directly attributable to Taxes paid, reimbursed or advanced by Borrower, plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (ai)) ), and (bii) such tax payment, reimbursement reimbursement, or advance by Owner Borrower to such Tax Indemnitee theretofore made pursuant to this Section 8.3 9.3 (and the excess, if any, of the amount described in clause (ai) over the amount described in clause (bii) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner Borrower to make payments to such Tax Indemnitee pursuant to this Section 8.39.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive receives (or be is credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner Borrower within 30 thirty (30) days of such receipt after receiving or realization of realizing such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed reimbursed, or advanced by Owner prior to Borrower before the receipt of such refund or realization of such credit. If a Tax Indemnitee pays Borrower any amount under this Section 9.3(f) and if and to the extent that it is subsequently determined pursuant to a contest conducted in accordance with Section 9.3(e) that such Tax Indemnitee was not entitled to the refund for which such Tax Indemnitee made such payment to Borrower, such determination shall be treated as the imposition of a Tax for which Borrower is obligated to indemnify such Tax Indemnitee pursuant to the provisions of Section 9.3(b), without regard to the provisions of Section 9.3(c) (other than Section 9.3(c)(5), (8) or (10)). Notwithstanding anything to the contrary herein, if Borrower provides a Tax Indemnitee with a written notice setting forth facts and circumstances which create a reasonable possibility of a refund of (or a credit against other liability with respect to) an indemnified Tax, such Tax Indemnitee shall make a determination as to whether it has received such a refund (or is entitled to such a credit). If a Tax Indemnitee determines that it has received such a refund (or is entitled to such a credit) it shall pay such refund (or the amount of such credit) to Borrower in accordance with the terms of this Section 9.3(f). For the avoidance of doubt, in no event shall any Tax Indemnitee be required to make available any of its Tax Documents (or any other information relating to its Taxes its deems confidential), to Borrower or any other Person (except as provided in Section 9.3(d)(2) of this Agreement).

Appears in 6 contracts

Samples: Loan Agreement (Airtran Holdings Inc), Loan Agreement (Airtran Holdings Inc), Loan Agreement (Airtran Holdings Inc)

Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by Owner, such Tax Indemnitee shall pay to Owner within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt BACK of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner to such Tax Indemnitee theretofore made pursuant to this Section 8.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner to make payments to such Tax Indemnitee pursuant to this Section 8.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner prior to the receipt of such refund or realization of such credit.

Appears in 4 contracts

Samples: Note Purchase Agreement (United Airlines, Inc.), Note Purchase Agreement (United Airlines, Inc.), Note Purchase Agreement (United Airlines, Inc.)

Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by OwnerLessee, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner Lessee to such Tax Indemnitee theretofore made pursuant to this Section 8.3 9.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner Lessee to make payments to such Tax Indemnitee pursuant to this Section 8.39.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner Lessee prior to the receipt of such refund or realization of such credit. If any such refund or credit or any interest thereon for which a Tax Indemnitee shall have paid Lessee is later recaptured, denied, disallowed or reduced, such recapture, denial, disallowance or reduction shall be treated as a Tax indemnifiable under Section 9.3.1 without regard to the provisions of Section 9.3.2 (other than Section 9.3.2(f)).

Appears in 3 contracts

Samples: Participation Agreement (Continental Airlines Inc /De/), Participation Agreement (Continental Airlines Inc /De/), Participation Agreement (Continental Airlines Inc /De/)

Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by Owner, such Tax Indemnitee shall pay to Owner within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner to such Tax Indemnitee theretofore made pursuant to this Section 8.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner to make payments to such Tax Indemnitee pursuant to this Section 8.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner owner within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner prior to the receipt of such refund or realization of such credit.

Appears in 2 contracts

Samples: Participation Agreement (Atlas Air Inc), Participation Agreement (Atlas Air Inc)

Refund. If any Tax Indemnitee shall receive receives a refund of, or be is entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed reimbursed, or advanced by OwnerBorrower, such Tax Indemnitee shall pay to Owner Borrower within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) ), and (b) such tax payment, reimbursement reimbursement, or advance by Owner Borrower to such Tax Indemnitee theretofore made pursuant to this Section 8.3 9.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner Borrower to make payments to such Tax Indemnitee pursuant to this Section 8.39.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive receives (or be is credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner Borrower within 30 days of such receipt after receiving or realization of realizing such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed reimbursed, or advanced by Owner prior to Borrower before the receipt of such refund or realization of such credit. Anything herein to the contrary notwithstanding, a Tax Indemnitee shall not be required to make any payment pursuant to this subsection 9.3(e) so long as a Special Default or an Event of Default exists.

Appears in 2 contracts

Samples: Loan Agreement (Airtran Holdings Inc), Loan Agreement (Airtran Holdings Inc)

Refund. If any Tax Indemnitee shall receive receives a refund of, or be becomes entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed reimbursed, or advanced by OwnerLessee, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) ), and (b) such tax payment, reimbursement reimbursement, or advance by Owner Lessee to such Tax Indemnitee theretofore made pursuant to this Section 8.3 ss. 9.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner Lessee to make payments to such Tax Indemnitee pursuant to this Section 8.3ss. 9.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive receives (or be is credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt after receiving or realization of realizing such credit that proportion the portion of such interest that shall be fairly attributable to Taxes paid, reimbursed reimbursed, or advanced by Owner prior to Lessee before the receipt of such refund or realization of such credit. Notwithstanding the foregoing, a Tax Indemnitee shall not be obligated to make any payment to Lessee pursuant to this ss. 9.3.5 if a Special Default or an Event of Default has occurred and is continuing. If it is later determined that such Tax Indemnitee was not entitled to such refund or credit, the portion of the refund or credit repaid, recaptured or disallowed (and any interest and tax savings paid by such Tax Indemnitee to Lessee with respect thereto) shall be treated as Taxes for which Lessee must indemnify such Tax Indemnitee pursuant to this ss. 9.3 without regard to ss. 9.3.2 hereof other than ss. 9.3.2(f).

Appears in 2 contracts

Samples: Participation Agreement (Amtran Inc), Participation Agreement (Amtran Inc)

Refund. If any Tax Indemnitee shall receive receives a refund of, or be is entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed reimbursed, or advanced by OwnerBorrower, such Tax Indemnitee shall pay to Owner Borrower within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) ), and (b) such tax payment, reimbursement reimbursement, or advance by Owner Borrower to such Tax Indemnitee theretofore made pursuant to this Section 8.3 10(c) (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner Borrower to make payments to such Tax Indemnitee pursuant to this Section 8.310(c)). If, in addition to such refund or credit, such Tax Indemnitee shall receive receives (or be is credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner Borrower within 30 days of such receipt after receiving or realization of realizing such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed reimbursed, or advanced by Owner prior to Borrower before the receipt of such refund or realization of such credit. Anything herein to the contrary notwithstanding, a Tax Indemnitee shall not be required to make any payment pursuant to this Section 10(c)(vi) so long as a Special Default or an Event of Default exists.

Appears in 2 contracts

Samples: Credit Agreement (Airtran Holdings Inc), Credit Agreement (Airtran Holdings Inc)

Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by Owner, such Tax Indemnitee shall pay to Owner within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner to such Tax Indemnitee theretofore made pursuant to this Section 8.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried BACK forward and applied to reduce pro tanto any subsequent obligation of Owner to make payments to such Tax Indemnitee pursuant to this Section 8.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner prior to the receipt of such refund or realization of such credit.

Appears in 2 contracts

Samples: Participation Agreement (Continental Airlines Inc /De/), Participation Agreement (Continental Airlines Inc /De/)

Refund. If any Tax Indemnitee shall receive receives a refund of, or be is entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed reimbursed, or advanced by Owner, such Tax Indemnitee shall pay to Owner within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) ), and (b) such tax payment, reimbursement reimbursement, or advance by Owner to such Tax Indemnitee theretofore made pursuant to this Section 8.3 (S) 7.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner to make payments to such Tax Indemnitee pursuant to this Section 8.3(S) 7.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive receives (or be is credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner within 30 days of such receipt after receiving or realization of realizing such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed reimbursed, or advanced by Owner prior to before the receipt of such refund or realization of such credit.

Appears in 1 contract

Samples: Note Purchase Agreement (Airtran Holdings Inc)

Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by OwnerLessee, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner Lessee to such Tax Indemnitee theretofore made pursuant to this Section 8.3 6(b) (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner Lessee to make payments to such Tax Indemnitee pursuant to this Section 8.36(b)). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner Lessee prior to the receipt of such refund or realization of such credit.

Appears in 1 contract

Samples: Participation Agreement (Us Airways Inc)

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Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by LATAM or Owner, such Tax Indemnitee shall pay to LATAM or Owner within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by LATAM or Owner to such Tax Indemnitee theretofore made pursuant to this Section 8.3 4.04 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto reduce, only to the extent of such excess, any subsequent obligation of LATAM or Owner to make payments to such Tax Indemnitee pursuant to this Section 8.34.04). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to LATAM or Owner within 30 days of such receipt or realization of such credit that proportion of such interest (net of Taxes) that shall be fairly attributable to Taxes paid, reimbursed or advanced by LATAM or Owner prior to the receipt of such refund or realization of such credit.

Appears in 1 contract

Samples: Participation Agreement (Latam Airlines Group S.A.)

Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by Owner, such Tax Indemnitee shall pay to Owner within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner to such Tax Indemnitee theretofore made pursuant to this Section 8.3 (and the excess, if any, of the amount described in clause (a) over the amount PARTICIPATION AGREEMENT 2013-1 BACK described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner to make payments to such Tax Indemnitee pursuant to this Section 8.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner prior to the receipt of such refund or realization of such credit.

Appears in 1 contract

Samples: Participation Agreement (Hawaiian Holdings Inc)

Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by Owner, such Tax Indemnitee shall pay to Owner within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner to such Tax Indemnitee theretofore made pursuant to this Section 8.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner to make payments to such Tax Indemnitee pursuant to this Section 8.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner prior to the receipt of such refund or realization of such credit.. BACK

Appears in 1 contract

Samples: Participation Agreement (Continental Airlines Inc /De/)

Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by Owner, such Tax Indemnitee shall pay to Owner within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner to such Tax Indemnitee theretofore made pursuant to this Section 8.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner to make payments to such Tax Indemnitee pursuant to this Section 8.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner prior to the receipt of such refund or realization of such credit.this

Appears in 1 contract

Samples: Participation Agreement (Continental Airlines Inc /De/)

Refund. If any Tax Indemnitee shall receive receives a refund of, or be becomes entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed reimbursed, or advanced by OwnerLessee, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) ), and (b) such tax payment, reimbursement reimbursement, or advance by Owner Lessee to such Tax Indemnitee theretofore made pursuant to this Section 8.3 (S) 9.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner Lessee to make payments to such Tax Indemnitee pursuant to this Section 8.3(S) 9.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive receives (or be is credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt after receiving or realization of realizing such credit that proportion the portion of such interest that shall be fairly attributable to Taxes paid, reimbursed reimbursed, or advanced by Owner prior to Lessee before the receipt of such refund or realization of such credit.

Appears in 1 contract

Samples: Note Purchase Agreement (Airtran Holdings Inc)

Refund. (a) If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by Owner, such Tax Indemnitee shall pay to Owner within 30 days of such receipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner to such Tax Indemnitee theretofore made pursuant to this Section 8.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner to make payments to such Tax Indemnitee pursuant to this Section 8.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner prior to the receipt of such refund or realization of such credit.

Appears in 1 contract

Samples: Participation Agreement (Continental Airlines Inc /De/)

Refund. If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other liability for, all or any part of any Taxes paid, reimbursed or advanced by OwnerLessee, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt re- ceipt an amount equal to the lesser of (a) the amount of such refund or credit plus any net tax benefit (taking into account any Taxes incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement or advance by Owner Lessee to such Tax Indemnitee theretofore made pursuant to this Section 8.3 9.3 (and the excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall be carried forward and applied to reduce pro tanto any subsequent obligation of Owner Lessee to make payments to such Tax Indemnitee pursuant to this Section 8.39.3). If, in addition to such refund or credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on the amount of such refund or credit, such Tax Indemnitee shall pay to Owner Lessee within 30 days of such receipt or realization of such credit that proportion of such interest that shall be fairly attributable to Taxes paid, reimbursed or advanced by Owner Lessee prior to the receipt of such refund or realization of such credit.

Appears in 1 contract

Samples: Participation Agreement (Atlas Air Inc)

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