Tax Benefits Refunds and Carrybacks Clause Samples
Tax Benefits Refunds and Carrybacks. 16
4.1 Compensation by Holdings for TODCO’s Post-IPO Tax Assets. 16
4.2 Compensation by TODCO for Pre-IPO Tax Assets. 16 4.3 Claims for Refund from Carrybacks. 20 4.4 Tax Benefits Resulting from Exercise of Stock Options. 20
Tax Benefits Refunds and Carrybacks. 4.1 Compensation by Holdings for TODCO's Post-IPO Tax Assets. In the event that any member of the Transocean Tax Group realizes a Tax Benefit during any Consolidated Year or Combined Year as a result of the use or absorption by any Transocean Tax Group member of any Post-IPO Tax Asset of the TODCO Tax Group, as determined under the principles of Section 4.2(b), then Holdings (or other appropriate member of the Transocean Tax Group) shall pay to TODCO, in accordance with Section 5, the value of such Tax Asset, as determined under the principles of Section 4.2(c) without regard to the specific rules following clause (iii) thereof.
Tax Benefits Refunds and Carrybacks