Intercompany Settlements. All payments of Consolidated Federal Income Tax Liability determined under Sections 3.02, 3.03, and 3.04 shall be made within ninety (90) days of the payment of the applicable estimated or actual consolidated federal income tax, except where a refund is due Parent, in which case, it may defer payment to a Member to within ninety (90) days of receipt of such refund. All payments shall be made in cash or in securities eligible as investments for the New York Companies, valued at market value.
Appears in 3 contracts
Sources: Tax Allocation Agreement (Enact Holdings, Inc.), Tax Allocation Agreement (Genworth Mortgage Holdings, Inc.), Tax Allocation Agreement (Genworth Mortgage Holdings, Inc.)