Adjustments to Liability Sample Clauses
Adjustments to Liability. Holdings and each Subsidiary agree that in the event there should be any factual circumstance, or any application, either retroactively or prospectively, of any federal income tax laws or revision of the federal income tax laws, which results in a redetermination of the Separate Return Tax Liability of any Subsidiary, the payment under Section 1(b) shall be adjusted to account for such redeterminations. It is intended that the adjustment referred to in this Section shall relate to those items which are given recognition in the Group's consolidated tax returns or are approved or adjusted by the Internal Revenue Service in its audit of said returns, and which therefore have been recognized or given effect by the computation of the consolidated income tax of the Group and the income tax computed on the separate return basis of each Subsidiary.
Adjustments to Liability. (a) If the Subsidiary Tax Liability of a Subsidiary is changed as the result of any final administrative or judicial determination (including a final "determination" as defined in Section 1313(a) of the Code) with respect to consolidated Federal income tax returns actually filed by the Group, then the amount of the payments required from such Subsidiary to the Company under paragraph 2(a) shall be recomputed by substituting the amount of such Subsidiary's Subsidiary Tax Liability after the adjustments described above in place of such Subsidiary's Subsidiary Tax Liability, provided that the principles of paragraph 2