Distribution of Tax Amount Sample Clauses

Distribution of Tax Amount. New DHC and ANPP acknowledge that dividends and other distributions paid or made on the ANPP Escrow Shares will be received and held by the Escrow Agent, and will constitute and become a part of the Additional Escrow Property. In the event a cash dividend made with respect to the ANPP Escrow Shares is taxable to the holders of the ANPP Escrow Shares, then, and in that event, as soon as reasonably practicable following the date of payment of such dividend or distribution, ANPP, DHC or both shall direct the Escrow Agent to distribute to ANPP an amount in cash equal to the amount of such cash dividend paid with respect to the ANPP Escrow Shares multiplied by the Current Effective Tax Rate.
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Distribution of Tax Amount. No later than sixty-five (65) days after the end of the Company’s Fiscal Year, the Company will distribute to each Member its share (based on expected allocations of taxable income for the Fiscal Year to which such distribution relates) of the Tax Amount estimated by the Company to have accrued through the end of the Fiscal Year. To the extent that each Member’s actual allocation of taxable income for the Fiscal Year is later determined to be different than was estimated for purposes of these distributions, such differences will be adjusted against the amounts computed and distributed to each Member for the next Fiscal Year.
Sample 1
Distribution of Tax Amount. At least ten Business Days before each date when a U.S. corporate estimated quarterly income tax payment is due, the Company shall distribute, from and to the extent of Cash Flow from Operations, to each Member its share of the Tax Amount estimated by the Company to have accrued during the estimated tax period before the distribution date. No later than 65 days after the end of the Company’s Allocation Year, the Company shall distribute to each Member its share of any previously unpaid Tax Amount for such Allocation Year. Distributions to a Member pursuant to this Section 4.3(a)(i) shall be deemed an advance of any other distributions due to such Member pursuant to this Section 4.3 and shall reduce such other distributions accordingly.
Sample 1
Distribution of Tax Amount. At least ten days before each date when a U.S. estimated income tax payment is due, the LLC will distribute from Available Cash Flow to each Member its share of the Tax Amount estimated by the LLC to have accrued during the estimated tax period prior to the distribution date. No later than 65 days after the end of the LLC's fiscal year, the LLC will distribute from Available Cash Flow to each Member its share of any previously unpaid Tax Amount for such fiscal year. Distributions pursuant to this Section 5.6.1 for each fiscal year shall be in proportion to the Members' Membership Percentages.
Sample 1
Distribution of Tax Amount. Notwithstanding anything else in this Article V to the contrary, the LLC shall distribute cash to the Members as provided in this Section 5.9.2 prior to each April 15 following the close of a fiscal year (or, at a Member's election, at such times during such year so as to coincide with the due dates of federal income tax estimated payments). In the event the federal income taxes that will be owed by any Member with respect to such fiscal year (computed as if such Member were an individual subject to federal income tax at the highest marginal rate for ordinary income of individuals) on any taxable income of the LLC allocated to such Member pursuant to this Agreement for the fiscal year is greater than the cumulative amount of distributions made to such Member pursuant to this Article V (other than this Section 5.9.2) during such year, then the LLC shall distribute additional cash to such Member (solely to the extent there is Available Cash Flow) in an amount equal to such excess. Any distribution made to a Member pursuant to this Section 5.9.2 shall be treated as an advance of future amounts otherwise distributable to such Member pursuant to this Agreement (excluding this Section 5.9.2) and shall be recouped from the first such future distributions. Solely for purposes of this Section 5.9.2, Available Cash Flow shall be determined without regard to any principal amounts outstanding under the Revolving Loan Agreement.
Sample 1
Distribution of Tax Amount. At least ten (10) Business Days before each date when a U.S. corporate estimated income tax payment is due, the Company will distribute, from Cash Flow from Operations (or, if necessary, from Other Available Cash), to each Member its share of the Tax Amount estimated by the Company to have accrued during the estimated tax period before the distribution date. No later than sixty five (65) days after the end of the Company’s fiscal year, the Company will distribute, from Cash Flow from Operations (or, if necessary, from Other Available Cash), to each Member its share of any previously unpaid Tax Amount for such fiscal year.
Sample 1

Related to Distribution of Tax Amount

  • Allocation of Taxable Income If any Fund delivers to its Auction Agent a notice in the form of Exhibit I to the Auction Agency Agreement designating all or a portion of any dividend on shares of any series of MuniPreferred of such Fund to consist of net capital gains or other income taxable for Federal income tax purposes, and BD is a Broker-Dealer for such series, such Auction Agent shall deliver such notice to BD on the Business Day following its receipt of such notice from such Fund. On or prior to the Auction Date referred to in such notice, BD will contact each of its customers that is a Beneficial Owner of shares of such series of MuniPreferred or a Potential Beneficial Owner of shares of such series of MuniPreferred interested in submitting an Order in the Auction to be held on such Auction Date, and BD will notify such Beneficial Owners and Potential Beneficial Owners of the contents of such notice. BD will be deemed to have notified such Beneficial Owners and Potential Beneficial Owners if, for each of them, (i) BD makes a reasonable effort to contact such Beneficial Owner or Potential Beneficial Owner by telephone, and (ii) upon failing to contact such Beneficial Owner or Potential Beneficial Owner by telephone BD mails written notification to such Beneficial Owner or Potential Beneficial Owner at the mailing address indicated in the account records of BD. The Auction Agent for any series of MuniPreferred shall be required to notify BD if it is a Broker-Dealer for such series within two Business Days after each Auction of such series that involves an allocation of income taxable for Federal income tax purposes as to the dollar amount per share of such taxable income and income exempt from Federal income taxation included in the related dividend.

  • Allocation of Taxes For purposes of determining the amount of Taxes that relate to Pre-Closing Tax Periods and Straddle Periods for purposes of any obligation to indemnify for Taxes under Section 4.2(b) the parties agree to use the following conventions:

  • Allocation of Tax Items To the extent permitted by section 1.704-1(b)(4)(i) of the Treasury Regulations, all items of income, gain, loss and deduction for federal and state income tax purposes shall be allocated to the Members in accordance with the corresponding "book" items thereof; however, all items of income, gain, loss and deduction with respect to Assets with respect to which there is a difference between "book" value and adjusted tax basis shall be allocated in accordance with the principles of section 704(c) of the IRS Code and section 1.704-1(b)(4)(i) of the Treasury Regulations, if applicable. Where a disparity exists between the book value of an Asset and its adjusted tax basis, then solely for tax purposes (and not for purposes of computing Capital Accounts), income, gain, loss, deduction and credit with respect to such Asset shall be allocated among the Members to take such difference into account in accordance with section 704(c)(i)(A) of the IRS Code and Treasury Regulation section 1.704-1(b)(4)(i). The allocations eliminating such disparities shall be made using any reasonable method permitted by the Code, as determined by the Manager.

  • Allocation of Tax Liability In the event that any tax is imposed on the Trust, such tax shall be charged against amounts otherwise distributable to the Owners in proportion to their respective Sharing Ratios. The Owner Trustee is hereby authorized to retain from amounts otherwise distributable to the Owners sufficient funds to pay or provide for the payment of, and then to pay, such tax as is legally owed by the Trust (but such authorization shall not prevent the Owner Trustee from contesting any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings).

  • Tax Cooperation; Allocation of Taxes (i) Seller and Buyer agree to furnish or cause to be furnished to each other, upon request, as promptly as practicable, such information and assistance relating to the Purchased Assets and the Business as is reasonably necessary for the filing of all Tax returns, and making of any election related to Taxes, the preparation for any audit by any taxing authority, and the prosecution or defense of any claim, suit or proceeding relating to any Tax return. Seller and Buyer shall cooperate with each other in the conduct of any audit or other proceeding related to Taxes involving the Business and each shall execute and deliver such powers of attorney and other documents as are necessary to carry out the intent of this Section 5.03(e).

  • Deduction of Tax It is not required to make any deduction for or on account of Tax from any payment it may make under any Finance Document.

  • Allocation of Tax Liabilities The provisions of this Section 2 are intended to determine each Company's liability for Taxes with respect to Pre-Distribution Periods. Once the liability has been determined under this Section 2, Section 5 determines the time when payment of the liability is to be made, and whether the payment is to be made to the Tax Authority directly or to another Company.

  • Payment of Taxes, Etc Pay and discharge, and cause each of its Subsidiaries to pay and discharge, before the same shall become delinquent, (i) all taxes, assessments and governmental charges or levies imposed upon it or upon its property and (ii) all lawful claims that, if unpaid, might by law become a Lien upon its property; provided, however, that neither the Borrower nor any of its Subsidiaries shall be required to pay or discharge any such tax, assessment, charge or claim that is being contested in good faith and by proper proceedings and as to which appropriate reserves are being maintained, unless and until any Lien resulting therefrom attaches to its property and becomes enforceable against its other creditors.

  • Payment of Taxes and Claims; Tax Consolidation A. Company will, and will cause each of its Subsidiaries to, pay all taxes, assessments and other governmental charges imposed upon it or any of its properties or assets or in respect of any of its income, businesses or franchises before any penalty accrues thereon, and all claims (including claims for labor, services, materials and supplies) for sums that have become due and payable and that by law have or may become a Lien upon any of its properties or assets, prior to the time when any penalty or fine shall be incurred with respect thereto; provided that no such charge or claim need be paid if it is being contested in good faith by appropriate proceedings promptly instituted and diligently conducted, so long as (1) such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made therefor and (2) in the case of a charge or claim which has or may become a Lien against any of the Collateral, such contest proceedings conclusively operate to stay the sale of any portion of the Collateral to satisfy such charge or claim.

  • Definition of Taxes For the purposes of this Agreement, "Tax" or, collectively, "Taxes", means any and all federal, state, local and foreign taxes, assessments and other governmental charges, duties, impositions and liabilities, including taxes based upon or measured by gross receipts, income, profits, sales, use and occupation, and value added, ad valorem, transfer, franchise, withholding, payroll, recapture, employment, excise and property taxes, together with all interest, penalties and additions imposed with respect to such amounts and any obligations under any agreements or arrangements with any other person with respect to such amounts and including any liability for taxes of a predecessor entity.

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