Common use of Section 481 Adjustments Clause in Contracts

Section 481 Adjustments. None of the Business Entities has elected or agreed, or is required, to make any adjustment under Section 481(a) of the Code by reason of a change in accounting method or otherwise that would require a Business Entity to include any item in income, or exclude any item of deduction from, taxable income for any period (or portion thereof) ending after the Closing Date.