NET OPERATING Sample Clauses
NET OPERATING. LOSS CARRYFORWARD Any net operating losses of the ▇▇▇▇▇ Companies not utilized by the Spectra Companies in filing their consolidated income Tax Returns for any Taxable Periods ending on, or including, the Closing Date shall be retained by the ▇▇▇▇▇ Companies to the extent allowed under applicable law. The Spectra Companies shall make available to FLIR prior to the Closing Date all relevant schedules and worksheets which calculate any net operating losses attributable to the ▇▇▇▇▇ Companies during any Period for which the Spectra Companies have filed a consolidated Tax Return which included any of the ▇▇▇▇▇ Companies.
NET OPERATING. Loss Carryovers to Consolidated Return and Separate Return Years. For Federal income tax purposes, with respect to the Federal net operating losses of Members of the Pre-Acquisition Avis Group, the consolidated net operating loss of the Pre-Acquisition Avis Group, and the carryovers of such net operating losses to consolidated return and separate return years, the Parties shall follow and consistently apply the rules of Temporary Treasury Regulations Section 1.1502-21T, including for all tax years ending on or after January 29, 1991 that were open as of January 1, 1997. Similar principles shall apply with respect to other tax attributes. Unless otherwise required by state or local law, consistent rules shall apply for state or local income tax purposes.