Interim Closing. Acquiror and Seller shall use commercially reasonable efforts to cause any applicable SRLP Entity to allocate all items of its income, gain, loss, deduction and credit allocable to the applicable Subject Interests based on the “interim closing method” as of the Closing Date under Section 706 of the Code and the Treasury Regulations thereunder.
Appears in 2 contracts
Sources: Purchase Agreement (HP Bulk Storage Manager, LLC), Purchase Agreement (Sprague Resources Holdings LLC)