Common use of Tax Return Payments Clause in Contracts

Tax Return Payments. Amounts shown due on any Vital Images Tax Returns shall be timely paid by the party responsible therefor as determined in accordance with Article 2 of this Agreement (the "Responsible Party"), irrespective of which party is obligated to prepare or file such Vital Images Tax Return under this Article 4. The party obligated to file a particular Vital Images Tax Return (the "Filing Party") has the right, but not the obligation, unless it is the Responsible Party to pay the Tax shown due thereon, in which case the Responsible Party shall immediately reimburse the Filing Party for the payment of such Tax.

Appears in 2 contracts

Sources: Tax Sharing Agreement (Vital Images Inc), Tax Sharing Agreement (Vital Images Inc)