2015 Tax Liability Clause Samples

2015 Tax Liability. Scripps agrees to indemnify and hold Scripps Spinco and Scripps Spinco Affiliates harmless against U.S. federal income tax liabilities in respect of members of the Scripps Group (other than members of the Scripps Spinco Group) under Treasury Regulation Section 1.1502-6. The “2015 Tax Liability” is the Adjusted Separate Scripps Spinco Group Federal Tax Liability for the taxable year beginning on January 1, 2015 and ending on and including the Distribution Date (the “2015 Taxable Year”). Scripps shall pay Scripps Spinco for the Excess Scripps Group Benefits, if any, for the taxable year of the Scripps Group beginning on January 1, 2015 if the Adjusted Separate Scripps Spinco Group Federal Tax Liability is zero under the preceding sentence (“2015 Excess Scripps Group Benefits”).
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2015 Tax Liability. Journal agrees to indemnify and hold Journal Spinco and Journal Spinco Affiliates harmless against U.S. federal income tax liabilities in respect of members of the Journal Group (other than members of the Journal Spinco Group) under Treasury Regulation Section 1.1502-6. The “2015 Tax Liability” is the Adjusted Separate Journal Spinco Group Federal Tax Liability for the taxable year beginning on December 29, 2014 and ending on and including the Distribution Date (the “2015 Taxable Year”). Journal shall pay Journal Spinco for the Excess Journal Group Benefits, if any, for the taxable year of the Journal Group beginning on December 29, 2014 if the Adjusted Separate Journal Spinco Group Federal Tax Liability is zero under the preceding sentence (“2015 Excess Journal Group Benefits”).
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Related to 2015 Tax Liability

  • Income Tax Liability Within ten (10) Business Days after the receipt of revenue agent reports or other written proposals, determinations or assessments of the IRS or any other taxing authority which propose, determine or otherwise set forth positive adjustments to the Tax liability of, or assess or propose the collection of Taxes required to have been withheld by, the Borrower which equal or exceed $100,000 in the aggregate, telephonic or facsimile notice (confirmed in writing within five (5) Business Days) specifying the nature of the items giving rise to such adjustments and the amounts thereof;

  • Tax Liability The Authorized Participant shall be responsible for the payment of any transfer tax, sales or use tax, stamp tax, recording tax, value added tax and any other similar tax or government charge applicable to the creation or redemption of any Basket made pursuant to this Agreement, regardless of whether or not such tax or charge is imposed directly on the Authorized Participant. To the extent the Trustee, the Sponsor or the Trust is required by law to pay any such tax or charge, the Authorized Participant agrees to promptly indemnify such party for any such payment, together with any applicable penalties, additions to tax or interest thereon.

  • Tax Liabilities The Investor understands that it is liable for its own tax liabilities.

  • 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.

  • Company Tax Returns The Company shall file all tax returns, if any, required to be filed by the Company.