C Short Year Clause Samples
The "C Short Year" clause defines how certain contractual terms or obligations are to be applied when the relevant period is less than a full year, often due to the contract starting or ending partway through a calendar or fiscal year. In practice, this clause typically outlines how payments, reporting requirements, or other time-based obligations are to be prorated or adjusted to reflect the shortened period. Its core function is to ensure fairness and accuracy in the administration of the contract by providing a clear method for handling partial-year scenarios, thereby preventing disputes over how obligations should be calculated when the contract does not cover a full year.
C Short Year. Pursuant to Section 1362(e)(1)(B) of the Code, that portion of the S Termination Year of the Company beginning on the Termination Date and ending on the last day of the 1998 fiscal year, shall be the C Short Year of the Company. For federal income tax purposes, the Company will be taxed as a C corporation during its C Short Year.
C Short Year. Pursuant to Section 1362(e)(1)(B) of the Code, that ----------- portion of the S Termination Year of the Company beginning on the Termination Date and ending on the last day of the calendar year shall be the C Short Year of the Company.
