Common use of Future Regulations Clause in Contracts

Future Regulations. Notwithstanding Section 2(c) hereof, in the event that regulations are promulgated which do not permit the Minimum Tax Credit to be allocated among the members of the Tridex Group in the manner set forth herein, Tridex or TransAct, as the case may be, will be obligated to make a payment to the other in an amount equal to the excess of the Minimum Tax Credit that is allocated to it and its Members by such regulations over that which would be allocated to it pursuant to Subsection 5(a)(i) above.

Appears in 2 contracts

Sources: Tax Sharing Agreement (Transact Technologies Inc), Tax Sharing Agreement (Tridex Corp)