Common use of Straddle Periods Clause in Contracts

Straddle Periods. For purposes of Sections 3.01 and 3.02, in the case of any Straddle Period, (i) property taxes and exemptions, allowances or deductions that are calculated on an annualized basis shall be apportioned between the Pre-Split-Off Period and the Post-Split-Off Period on a daily pro-rata basis and (ii) all other Taxes shall be apportioned between the Pre-Split-Off Period and the Post-Split-Off Period on a closing of the books basis as of the close of business on the Split-Off Date.

Straddle Periods. For purposes of Sections 3.01 3.1 and 3.023.2, in the case of any Straddle Period, (i) property taxes and exemptions, allowances or deductions that are calculated on an annualized basis shall be apportioned between the Pre-Split-Off Distribution Period and the Post-Split-Off Distribution Period on a daily pro-rata basis and (ii) all other Ordinary Course Taxes shall be apportioned between the Pre-Split-Off Distribution Period and the Post-Split-Off Distribution Period on a closing of the books basis as of the close of business on the Split-Off Distribution Date.

Straddle Periods. For purposes of Sections 3.01 and 3.022.1 through 2.6, in the case of any Straddle Period, (i) property taxes Taxes and exemptions, allowances or deductions that are calculated on an annualized basis shall be apportioned between the Pre-Split-Off Distribution Period and the Post-Split-Off Distribution Period on a daily pro-rata basis and (ii) all other Taxes shall be apportioned between the Pre-Split-Off Distribution Period and the Post-Split-Off Distribution Period on a closing of the books basis as of the close of business on the Split-Off DateDistribution date.