Common use of Allocation of Income Clause in Contracts

Allocation of Income. The Company and the Shareholders agree that for tax purposes (including for purposes of determining the Company's S Corporation Taxable Income for its fiscal year ending December 31, 1996) the Company shall allocate its items of income, gain, loss, deduction and credit for its fiscal year ending December 31, 1996 between the S Short Year and the C Short Year in accordance with the so- called "closing of the books method," as permitted by Section 1362(e)(3) of the Code. The Company will make the election permitted by Section 1362(e)(3) in a timely manner. The Shareholders agree to consent to such election and to provide the Company with the statement of consent of all shareholders described in Section 1.1362-6(b) of the Treasury Regulations. The Company and the Shareholders agree to make, and to provide such information and obtain such consents as are necessary to make, any comparable election required under applicable state and local income tax laws.

Allocation of Income. The Company and the Shareholders Stockholders agree that for tax purposes (including for purposes of determining the Company's S Corporation corporation Taxable Income for its fiscal year ending December 31, 19961997) the Company shall allocate its items of income, gain, loss, deduction and credit for its fiscal year ending December 31, 1996 1997 between the S Short Year and the C Short Year in accordance with normal tax accounting rules (the so- so-called "closing of the books method," "), as permitted by Section 1362(e)(3) of the Code. The Company will make the election permitted by Section 1362(e)(3) in a timely manner. The Shareholders Stockholders agree to consent to such election and to provide the Company with the statement of consent of all shareholders Stockholders described in Section 1.1362-6(b) of the Treasury Regulations. The Company and the Shareholders Stockholders agree to make, and to provide such information and obtain such consents as are necessary to make, make any comparable election required under applicable state and local income tax laws.

Allocation of Income. The Company and the Shareholders agree that for tax purposes (including for purposes of determining the Company's S Corporation corporation Taxable Income for its fiscal year ending December 31, 1996) the Company shall allocate its items of income, gain, loss, deduction and credit for its fiscal year ending December 31, 1996 between the S Short Year and the C Short Year in accordance with normal tax accounting rules (the so- so-called "closing of the books method," "), as permitted by Section 1362(e)(3) of the Code. The Company will make the election permitted by Section 1362(e)(3) in a timely manner. The Shareholders agree to consent to such election and to provide the Company with the statement of consent of all shareholders described in Section 1.1362-6(b) of the Treasury Regulations. The Company and the Shareholders agree to make, and to provide such information and obtain such consents as are necessary to make, any comparable election required under applicable state and local income tax laws.

Allocation of Income. The Company and the Shareholders agree that for tax purposes (including for purposes of determining the Company's S Corporation corporation Taxable Income for its fiscal year ending December 31, 19961997) the Company shall allocate its items of income, gain, loss, deduction and credit for its fiscal year ending December 31, 1996 1997 between the S Short Year and the C Short Year in accordance with normal tax accounting rules (the so- so-called "closing of the books method," "), as permitted by Section 1362(e)(31362(a)(3) of the Code. The Company will make the election permitted by Section 1362(e)(3) in a timely manner. The Shareholders agree to consent to such election and to provide the Company with the statement of consent of all shareholders Shareholders described in Section 1.1362-6(b) of the Treasury Regulations. The Company and the Shareholders agree to make, and to provide such information and obtain such consents as are necessary to make, any comparable election required under applicable state and local income tax laws.

Allocation of Income. The Company and the Shareholders agree that for tax purposes (including for purposes of determining the Company's ’s S Corporation corporation Taxable Income for its fiscal year ending December 31, 1996S Short Year) the Company shall allocate its items of income, gain, loss, deduction and credit for its fiscal calendar year ending December 31, 1996 between the S Short Year and the C Short Year in accordance with normal tax accounting rules (the so- so-called "“closing of the books method," ”), as permitted by Section 1362(e)(3) of the Code. The Company will make the election permitted by Section 1362(e)(3) in a timely manner. The Shareholders agree to consent to such election and to provide the Company with the statement of consent of all shareholders Shareholders described in Section 1.1362-6(b) of the Treasury Regulations. The Company and the Shareholders agree to make, and to provide such information and obtain such consents as are necessary to make, any comparable election required under applicable state and local income tax laws.