Allocation of Certain Taxes. (a) The Parties agree that if any entity transferred to the LLC is permitted but not required under applicable foreign, state or local Income Tax laws to treat the day before the Closing Date or the Closing Date as the last day of a taxable period, such day shall be treated as the last day of a taxable period.
Appears in 2 contracts
Samples: Investment Agreement (Tele Communications Inc /Co/), Investment Agreement Investment Agreement (Seagram Co LTD)
Allocation of Certain Taxes. (ai) The Parties agree that if any entity transferred to If the LLC is Acquired Company and its Subsidiaries are permitted but not required under applicable foreignstate, state local, or local Income Tax laws foreign income tax Laws to treat the day before the Closing Date or the Closing Acquired Balance Sheet Date as the last day of a taxable period, such then the parties shall treat that day shall be treated as the last day of a taxable period.
Appears in 2 contracts
Samples: Stock Purchase Agreement (La Cortez Energy, Inc.), Stock Purchase Agreement (Avante Petroleum S.A.)
