Allocation of Combined or Consolidated State Income Tax Adjustments. If there is any adjustment to the amount of Consolidated or Combined State Income Tax reported on any Tax Return (or as previously adjusted), the liability of the Industrial Group and the Shipbuilding Group shall be recomputed as provided in this subparagraph. Industrial Company shall be liable to Tenneco for the excess (if any) of-- (A) the State Income Tax liability computed as if all members of the Industrial Group included in the Tax Return had filed a consolidated or combined Tax Return for such members 7
Appears in 4 contracts
Samples: Tax Sharing Agreement (Newport News Shipbuilding Inc), Tax Sharing Agreement (New Tenneco Inc), Tax Sharing Agreement (Tenneco Inc /De)
