Common use of Splitco Tax Returns Clause in Contracts

Splitco Tax Returns. With respect to any Separate Return for which Splitco is responsible pursuant to Section 3.2(b), Splitco and the other members of the Splitco Group must allocate Tax Items between such Separate Return for which Splitco is responsible pursuant to Section 3.2(b) and any related Combined Return for which Distributing is responsible pursuant to Section 3.1 that are filed with respect to the same Tax Year in a manner that is consistent with the reporting of such Tax Items on the related Combined Return for which Distributing is responsible pursuant to Section 3.1.