Tax Advances definition

Tax Advances has the meaning set forth in Section 5.07.

Tax Advances is defined in Section 10.5(a).

Tax Advances means investments, loans or advances to the shareholders of the Borrower to the extent that any such investments, loans or advances are (A) in substitution for and in lieu of Tax Distributions and (B) in an aggregate amount not to exceed the amount of such Tax Distributions.

Examples of Tax Advances in a sentence

• All Tax Advances made on behalf of a Partner shall be repaid by reducing the amount of the current or next succeeding distribution or distributions which would otherwise have been made to such Partner or, if such distributions are not sufficient for that purpose, by so reducing the proceeds of liquidation otherwise payable to such Partner.

• All Tax Advances made on behalf of a Member shall be repaid by reducing the amount of the current or next succeeding distribution or distributions which would otherwise have been made to such Member or, if such distributions are not sufficient for that purpose, by so reducing the proceeds of liquidation otherwise payable to such Member.

• All Tax Advances made on behalf of a Member shall be repaid by reducing the amount of the current or next succeeding Tax Distribution or Tax Distributions and, if applicable, the proceeds of liquidation that would otherwise have been made to such Member under this LLC Agreement; provided, that if a Tax Advance is made on behalf of a former Member, then such former Member shall indemnify and hold harmless the Company for the entire amount of such Tax Advance.

• Each Member hereby agrees to indemnify and hold harmless the Company and the other Members from and against any liability from such Member’s failure to repay Tax Advances.

• All Tax Advances made on behalf of a Partner will, at the option of the General Partner, (i) be promptly paid to the Fund by the Partner on whose behalf such Tax Advances were made or (ii) reduce any current withdrawal being made by such Partner (or, if no such withdrawal is being made by such Partner, be treated as a distribution to such Partner as of the last day of the Period which includes the date the Tax Advance was remitted by the Fund to the taxing authorities).

More Definitions of Tax Advances

Tax Advances has the meaning given to it in Section 4.2(a).

Tax Advances has the meaning set forth in Section 5.01(b)(i) of this Agreement.

Tax Advances. Has the meaning set forth in Section 5.6 hereto. Mammoth Private Capital, LLC

Tax Advances has the meaning set forth in Section 15(g).

Tax Advances has the meaning set forth in Section 10.2.

Tax Advances has the meaning set forth in Section 5.07. “Tax Amount” has the meaning set forth in Section 4.01(b)(i).

Tax Advances. As defined in Section 4.5(b).