Termination of Existing Tax Sharing Agreements Clause Examples
The 'Termination of Existing Tax Sharing Agreements' clause serves to formally end any prior tax sharing arrangements between the parties involved. In practice, this clause ensures that all obligations, rights, and liabilities under previous tax sharing agreements are concluded as of a specified date, often coinciding with the execution of a new agreement or a change in ownership structure. By including this clause, parties prevent overlapping or conflicting tax obligations and clarify that only the terms of the new or current agreement will govern their tax-related responsibilities going forward.
POPULAR SAMPLE Copied 1 times
Termination of Existing Tax Sharing Agreements. Any and all existing Tax sharing agreements (whether written or not) binding upon the Target Company or any of its Subsidiaries shall be terminated as of the Closing Date. After such date neither the Target Company nor any of its Subsidiaries or Representatives shall have any further rights or liabilities thereunder.
Termination of Existing Tax Sharing Agreements. Any and all existing Tax sharing allocation, indemnification or similar agreements or arrangements, written or unwritten, between the Transferred Companies and Parent or any of its subsidiaries, predecessors or Affiliates (other than any of the Transferred Companies), shall be terminated as of the Closing and there shall be no continuing obligation to make any payments thereunder.
Termination of Existing Tax Sharing Agreements. Any and all existing Tax Sharing Agreements between the Company or any Subsidiary and any member of the Seller Group shall be terminated as of the Closing Date. After such date neither the Company, any Subsidiary, Seller nor any Affiliate of Seller shall have any further rights or liabilities thereunder, and this Agreement shall be the sole Tax sharing agreement relating to the Company or any Subsidiary for all Pre-Closing Tax Periods.
Termination of Existing Tax Sharing Agreements. Seller shall terminate or cause to be terminated any and all existing Tax sharing agreements (whether written or not) binding upon the Company as of the Closing Date. After Closing, none of the Company, Seller nor any of Seller’s Affiliates and their respective Representatives shall have any further rights or liabilities thereunder.
Termination of Existing Tax Sharing Agreements. All tax-sharing agreements or similar agreements with respect to or involving the Company shall be terminated prior to the Closing Date, and, after the Closing Date, the Company shall not be bound thereby or have liability thereunder for amounts due in respect of period prior to the Closing Date.
Termination of Existing Tax Sharing Agreements. Prior to the Closing Date, the parties shall terminate any existing tax sharing agreements to the extent such agreement or arrangement binds Flavors or any of its subsidiaries. The preceding sentence shall not apply to any agreement entered into in connection with this Agreement.
Termination of Existing Tax Sharing Agreements. Notwithstanding anything in this Agreement to the contrary, any and all Liabilities, obligations or other rights between a Seller and such Seller’s Affiliates, on the one hand, and a Company, on the other hand, under any and all Tax sharing, indemnity or similar agreements (whether written or not) other than this Agreement shall cease and be terminated as of the Closing Date as to all past, present or future taxable periods. After such date no Company shall have any further rights or Liabilities under any such agreements.
Termination of Existing Tax Sharing Agreements. Any and all existing Tax sharing agreements or arrangements, written or oral, between Seller and any Company, shall terminate as of the Closing.
Termination of Existing Tax Sharing Agreements. Any and all existing Tax sharing agreements (whether written or not) binding upon the Parent shall be terminated as of the Closing Date. After such date, neither the Parent nor any Parent Subsidiary shall have any further rights or liabilities thereunder.
Termination of Existing Tax Sharing Agreements. All tax sharing agreements or similar arrangements with respect to or involving the Acquired Entities shall be terminated effective as of the Effective Time.