Common use of HCS Clause in Contracts

HCS. HCS (i) shall be responsible for all Pre-Distribution --- Consolidated Tax Liability, and (ii) shall be entitled to all refunds with respect thereto; provided, that HCS shall be responsible for or shall be entitled to HCS's Sharing Percentage with respect to any Tax Benefit or Tax Detriment resulting from any Adjustment with respect thereto.

Appears in 3 contracts

Sources: Tax Sharing Agreement (Varian Inc), Tax Sharing Agreement (Varian Associates Inc /De/), Tax Sharing Agreement (Varian Semiconductor Equipment Associates Inc)