Common use of Consistent with Past Practice Clause in Contracts

Consistent with Past Practice. Except for any accounting method changes pursuant to applications that are approved by the IRS, all Tax Returns described in Section 2.2 filed after the date of this Agreement, in the absence of a controlling change in law or circumstance, shall be prepared on a basis consistent with the elections, accounting methods, conventions and principles of taxation used for the most recent taxable periods for which Tax Returns involving similar Tax Items have been filed. Subject to the provisions of this Agreement, all decisions relating to the preparation of Tax Returns shall be made in the sole discretion of the party responsible under this Agreement for such preparation.