Common use of Federal Income Taxes Clause in Contracts

Federal Income Taxes. Not later than 2 business days prior to each Estimated Tax Installment Date with respect to any Pre-Deconsolidation Period, the parties shall, consistent with past practice, determine under the principles of Section 6655 of the Code the estimated amount of the related installment of the Instinet Group Federal Income Tax Liability. Instinet shall pay to Reuters no later than five (5) business days after such Estimated Tax Installment Date the amount thus determined.

Federal Income Taxes. Not later than 2 five business days prior to each Estimated Tax Installment Date with respect to any Pre-Deconsolidation Period, the parties shall, consistent with past practice, Xxxxxx shall determine under the principles of Section 6655 of the Code the estimated amount of the related installment of the Instinet Xxxxxxx Group Federal Income Tax Liability. Instinet Xxxxxxx shall then pay to Reuters no Xxxxxx, not later than five (5) business days after such Estimated Tax Installment Date Date, the amount thus determined.