Common use of Certain Deductions Clause in Contracts

Certain Deductions. Notwithstanding any other provision of this Agreement, the parties hereto agree pursuant to Treasury Regulations Section 1.1502-76(b)(1)(ii) that the Tax deductions arising out of any payment made pursuant to Section 1.4 (Treatment of Longhorn Equity Awards) shall be allocated to and reported in the taxable year of Longhorn ending on the Closing Date, except as otherwise required pursuant to a “determination” within the meaning of Section 1313(a) of the Code, or by similar provision of applicable state or local income, franchise or other relevant Tax law.