Common use of Federal Income Tax Clause in Contracts

Federal Income Tax. (a) It is the desire and intent of the parties to this Agreement to establish a method for allocating the consolidated tax liability of each member among the Affiliated Group (hereinafter defined), for compensating members of the Affiliated Group (as defined in 1.1(b)) for use of their losses, tax credits or tax deferred treatment, and to provide for the allocation and payment of any refunds arising from a carryback of losses, tax credits or tax deferred treatment from subsequent taxable years.

Federal Income Tax. (a) It is the desire and intent of the parties to this Agreement to establish a method for allocating the consolidated tax liability of each member among the Affiliated Group (hereinafter defined), for reimbursing each member for payment of such tax liability, for compensating members of the Affiliated Group (as defined in 1.1(b)) for use of their losses, tax credits losses or tax deferred treatmentcredits, and to provide for the allocation and payment of any refunds arising from a carryback of losses, losses or tax credits or tax deferred treatment from subsequent taxable years.

Federal Income Tax. (a) It is the desire and intent of the parties to this Agreement to establish a method for allocating the consolidated tax liability of each member among the Affiliated Group (hereinafter defined), for reimbursing each member for payment of such tax liability, for compensating members of the Affiliated Group (as defined in 1.1(bparagraph 2.1(b)) for use of their losses, tax credits or tax deferred treatment, and to provide for the allocation and payment of any refunds arising from a carryback carry back of losses, tax credits or tax deferred treatment from subsequent taxable years.