Current Year. The portion of the LTM Group Separate Tax Liability ------------ for the Current Year not previously accrued prior to the Closing Date shall be estimated by SCA and LTM and the amount of such estimate shall be accrued as a liability of LTM, provided that the LTM Group Separate Tax Liability shall be computed without taking into account the triggering as a result of the transactions contemplated by the Master Agreement of any excess loss account within the meaning of Treasury Regulation Section 1.1502-19 or deferred gain or loss arising out of any intercompany transaction within the meaning of Treasury Regulation Section 1.1502-13 (or arising out of any deferred intercompany transaction within the meaning of Treasury Regulation Section 1.1502-13 as in effect with respect to transactions occurring in years beginning before July 12, 1995) between a member of the SCA Separate Group and a member of the LTM Group or between members of the LTM Group, and provided further, that any other taxes imposed as a result of the transactions contemplated by the Master Agreement shall be borne by the parties on whom imposed by law, except to the extent expressly provided in this Agreement or in Section 9.3 of the Master Agreement. If as the result of an audit by a taxing authority or as a result of a court proceeding, the SCA Group Tax Liability (or any component thereof or of the SCA Group's taxable income or loss) for the Current Year is adjusted, then notwithstanding paragraph 3 hereof (i) if there are adjustments which increase the LTM Group Separate Tax Liability for the Current Year, the amount of any such increase shall be paid by LTM to SCA and (ii) if there are adjustments which decrease the LTM Group Separate Tax Liability for the Current Year, the amount of any such decrease shall be paid to LTM by SCA to the extent such amounts have previously been paid by LTM to SCA. SCA and LTM shall cooperate in determining the amounts which have previously been paid by LTM to SCA. Payments by or to LTM required as the result of adjustments shall be made promptly after the Final Determination of such adjustments.
Current Year i) For delinquent days occurring on or prior to March 31, the rate will be the TFRM rate that is published in the preceding December.(ii) For delinquent days occurring from April 1 to June 30, the rate will be the TFRM rate that is published in March for the second quarter of the year.12 CFR Ch. XIV (1–1–17 Edition)