Additional Payment. Notwithstanding any other provision of this Agreement, in the event the federal, state or local tax of any Obligor is permanently reduced as a result of a transaction which (i) has no impact on income for financial accounting purposes, and (ii) results in a permanent increase in any such tax for another Obligor, the Obligor whose taxes are reduced shall, within sixty (60) days of a determination that this provision is applicable, pay the amount by which its taxes were reduced to the party whose taxes are increased as a result of the transaction.
Appears in 6 contracts
Samples: Tax Sharing Agreement (Nationwide Life Ins Co), Tax Sharing Agreement (Nationwide Life Insurance Co), Tax Sharing Agreement (Nationwide Life Insurance Co)
Additional Payment. Notwithstanding any other provision of this Agreement, in the event the federal, state or local tax of any Obligor is permanently reduced as a result of a transaction which (i) has no impact on income for financial accounting purposes, and (ii) results in a permanent increase in any such tax for another Obligor, the Obligor whose taxes are reduced shall, within sixty (60) days of a determination that this provision is applicable, pay the amount by which its taxes were reduced to the party Obligor whose taxes are increased as a result of the transaction.
Appears in 4 contracts
Samples: Tax Sharing Agreement (Nationwide Financial Services Inc/), Tax Sharing Agreement (Nationwide Financial Services Inc/), Tax Sharing Agreement (Nationwide Financial Services Inc/)
