Carryback. Notwithstanding Section 3.04, to the extent permitted by law, Geo Point Nevada shall elect to forego a carryback of any net operating losses, capital losses, credits or other Tax benefits to a taxable period, or portion thereof, ending on or before the Spin-Off Date unless Geo Point Utah otherwise elects, in its sole discretion, to allow such carryback.
Appears in 3 contracts
Sources: Separation Agreement (Geo Point Resources, Inc.), Tax Matters Agreement (Geo Point Technologies Inc), Tax Matters Agreement (Geo Point Resources, Inc.)