Closing of the Books. The Company and the Shareholder understand that for tax purposes (including for purposes of determining the Company’s S Corporation Taxable Income for its S Short Year), the Company will allocate its items of income, gain, loss, deduction and credit for its calendar year between the S Short Year and the C Short Year based on a “closing of the books.”
Appears in 2 contracts
Samples: Tax Sharing Agreement (William Bradford Haines Financial Services Trust), Corporation Termination and Tax Sharing Agreement (Bank7 Corp.)
Closing of the Books. The Company and the Shareholder understand that for tax purposes (including for purposes of determining the Company’s S Corporation Taxable Income for its S Short Year), the Company will will, where the Termination Date is established in as a result of the filing of consents in accordance with Section 2.01(i) hereof, allocate its items of income, gain, loss, deduction and credit for its calendar year between the S Short Year and the C Short Year based on a “closing of the books.”
Appears in 2 contracts
Samples: Tax Sharing Agreement (Luther Burbank Corp), Tax Sharing Agreement (Luther Burbank Corp)
Closing of the Books. The Company and the Shareholder Stockholders understand that for tax purposes (including for purposes of determining the Company’s S Corporation Taxable Income for its S Short Year), ) the Company will allocate its items of income, gain, loss, deduction and credit for its calendar year between the S Short Year and the C Short Year based on a “closing of the books.”
Appears in 1 contract
Closing of the Books. The Company and the Shareholder understand that for tax purposes (including for purposes of determining the Company’s S Corporation Taxable Income for its S Short Year), ) the Company will allocate its items of income, gain, loss, deduction and credit for its calendar year between the S Short Year and the C Short Year based on a “closing of the books.”
Appears in 1 contract
