Common use of Administration and Control; Cooperation Clause in Contracts

Administration and Control; Cooperation. (i) Subject to Sections 9.2(b)(ii) and 9.2(c), the Audit Management Party shall have absolute authority to make all decisions (determined in its sole discretion) with respect to the administration and control of such Audit, including the selection of all external advisors. In that regard, the Audit Management Party (a) may in its sole discretion settle or otherwise determine not to continue to contest any issue related to such Audit without the consent of the other Parties, and (b) shall, as soon as reasonably practicable and prior to settlement of an issue that could cause one or more other Parties to become responsible for Taxes under Section 9.3, notify the Audit Representatives of such other Parties of such settlement. The other Parties shall (and shall cause their Affiliates to) undertake all actions and execute all documents (including an extension of the applicable statute of limitations) that are determined in the sole discretion of the Audit Management Party to be necessary to effectuate such administration and control. The Parties shall act in good faith and use their reasonable best efforts to cooperate fully with each other Party (and their Affiliates) in connection with such Audit and shall provide or cause their Subsidiaries to provide such information to each other as may be necessary or useful with respect to such Audit in a timely manner, identify and provide access to potential witnesses, and other persons with knowledge and other information within its control and reasonably necessary to the resolution of the Audit.

Appears in 3 contracts

Samples: Tax Matters Agreement (ITT Corp), Tax Matters Agreement (Exelis Inc.), Tax Matters Agreement (Xylem Inc.)

AutoNDA by SimpleDocs

Administration and Control; Cooperation. (i) Subject to Sections 9.2(b)(ii8.2(b)(ii) and 9.2(c8.2(c), the Audit Management Party shall have absolute authority to make all decisions (determined in its sole discretion) with respect to the administration and control of such Audit, including the selection of all external advisors. In that regard, the Audit Management Party (a) may in its sole discretion settle or otherwise determine not to continue to contest any issue related to such Audit without the consent of the other Parties, and (b) shall, as soon as reasonably practicable and prior to settlement of an issue that could cause one or more other Parties to become responsible for Taxes under Section 9.38.3, notify the Audit Representatives of such other Parties of such settlement. The other Parties shall (and shall cause their Affiliates to) undertake all actions and execute all documents (including an extension of the applicable statute of limitations) that are determined in the sole discretion of the Audit Management Party to be necessary to effectuate such administration and control. The Parties shall act in good faith and use their reasonable best efforts to cooperate fully with each other Party (and their Affiliates) in connection with such Audit and shall provide or cause their Subsidiaries to provide such information to each other as may be necessary or useful with respect to such Audit in a timely manner, identify and provide access to potential witnesses, and other persons with knowledge and other information within its control and reasonably necessary to the resolution of the Audit.

Appears in 3 contracts

Samples: Tax Matters Agreement (Hilton Worldwide Holdings Inc.), Tax Matters Agreement (Hilton Grand Vacations Inc.), Tax Matters Agreement (Park Hotels & Resorts Inc.)

AutoNDA by SimpleDocs

Administration and Control; Cooperation. (i) Subject to Sections 9.2(b)(ii) and 9.2(cSection 8.2(c), the Audit Management Party shall have absolute authority to make all decisions (determined in its sole discretion) with respect to the administration and control of such AuditAudit (or portion thereof), including the selection of all external advisors. In that regard, the Audit Management Party (a) may in its sole discretion settle or otherwise determine not to continue to contest any issue related to such Audit without the consent of the other PartiesParty, and (b) shall, as soon as reasonably practicable and prior to settlement of an issue that could cause one or more the other Parties Party to become responsible for Taxes under Section 9.38.3, notify the Audit Representatives of such the other Parties Party of such settlement. The other Parties Party shall (and shall cause their Affiliates its Subsidiaries to) undertake all actions and execute all documents (including an extension of the applicable statute of limitations) that are determined in the sole discretion of the Audit Management Party to be necessary to effectuate such administration and control. The Parties Each Party shall act in good faith and use their reasonable best efforts to cooperate fully with each the other Party (and their Affiliates) in connection with such Audit and shall provide or cause their Subsidiaries to provide such information to each other as may be necessary or useful with respect to such Audit in a timely manner, identify and provide access to potential witnesses, and other persons with knowledge and other information within its control and reasonably necessary to the resolution of the Audit.

Appears in 3 contracts

Samples: Tax Matters Agreement (CorePoint Lodging Inc.), Tax Matters Agreement (CorePoint Lodging Inc.), Tax Matters Agreement (La Quinta Holdings Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.