Common use of Settlement of Issues Clause in Contracts

Settlement of Issues. No settlement of any audit, examination, -------------------- action, suit or other judicial or administrative proceeding relating to matters described in Section 6(a) for any Pre-Effective Period (or with respect to matters relating to Section 6(a)(ii) for any Taxable period) shall be accepted or entered into by or on behalf of the ACX Consolidated Group or State Consolidated Group unless CTI has consented thereto in writing (which consent shall not be unreasonably withheld); provided, however, that in the event that CTI does not consent and ACX believes that the withholding of consent was unreasonable, the parties shall resolve their disagreement under the procedures provided in Section 16. In the process of resolving such a disagreement, the Referee (or other applicable arbiter) shall consider the magnitude and size of the item in question, the impact of the resolution on other CTI Taxable periods and the likelihood of CTI's position ultimately prevailing.

Appears in 1 contract

Sources: Tax Sharing Agreement (Coorstek Inc)

Settlement of Issues. No settlement of any audit, examination, -------------------- action, suit or other judicial or administrative proceeding relating to matters described in Section 6(a) for any Pre-Effective Period (or with respect to matters relating to Section 6(a)(ii) for any Taxable period) shall be accepted or entered into by or on behalf of the ACX Consolidated Group or State Consolidated Group unless CTI has consented thereto in writing (which consent shall not be unreasonably withheld); provided, however, that in the event that CTI does not consent and ACX believes that the withholding of consent was unreasonable, the parties shall resolve their disagreement under the procedures provided in Section 16. In the process of resolving such a disagreement, the Referee (or other applicable arbiter) shall consider the magnitude and size of the item in question, the impact of the resolution on other CTI Taxable periods and the likelihood of CTI's position ultimately prevailing.

Appears in 1 contract

Sources: Tax Sharing Agreement (Acx Technologies Inc)