Common use of Procedure and Compliance Clause in Contracts

Procedure and Compliance. No Taxes with respect to Target or any of its Subsidiaries are currently under audit, examination or investigation by any Governmental Authority or the subject of any judicial or administrative proceeding. No Governmental Authority has asserted or threatened to assert any deficiency, claim or issue with respect to Taxes or any adjustment to Taxes against the Target or any of its Subsidiaries with respect to any taxable period for which the period of assessment or collection remains open.

Procedure and Compliance. No Taxes with respect to Target Buyer or any of its Subsidiaries are currently under audit, examination or investigation by any Governmental Authority or the subject of any judicial or administrative proceeding. No Governmental Authority has asserted or threatened to assert any deficiency, claim or issue with respect to Taxes or any adjustment to Taxes against the Target Buyer or any of its Subsidiaries with respect to any taxable period for which the period of assessment or collection remains open.