Common use of Timing Differences Clause in Contracts

Timing Differences. If a Tax Audit Proceeding or an amendment of a Tax Return results in a Timing Difference, and such Timing Difference results in a decrease in an indemnity obligation AWS or Avalon has, or otherwise would have had, under Section 5.1 and/or an increase in the amount of a Tax Refund to which AWS or Avalon is entitled under Section 3.2, then in each Post-Tax Indemnification Period in which the AWS Group or the Avalon Group Actually Realizes an Income Tax Detriment, either AWS or Avalon, as the case may be, shall pay to the other an amount equal to such Income Tax Detriment; provided, however, that the aggregate payments required to be made under this Section 5.4(a) with respect to any Timing Difference shall not exceed the aggregate amount of the Income Tax Benefits realized by the Group from which such payment is made for all taxable periods and the Group receiving such payment for all Tax Indemnification Periods as a result of such Timing Difference. All such payments shall be made within 10 days after the relevant Income Tax Detriment has been Actually Realized and the Group Actually Realizing such Income Tax Detriment notifies the other Group, as the case may be.

Timing Differences. If a Tax Audit Proceeding or an amendment of a Tax Return results in a Timing Difference, and such Timing Difference results in a decrease in an indemnity obligation AWS Crane or Avalon Huttig has, or otherwise would have had, under Section 5.1 6.1 and/or an increase in the amount of a Tax Refund to which AWS Crane or Avalon Huttig is entitled under Section 3.2, then in each Post-Tax Indemnification Period in which the AWS Crane Group or the Avalon Huttig Group Actually Realizes an Income Tax Detriment, either AWS Crane or AvalonHuttig, as the case may be, shall pay to the other an amount equal to such Income Tax Detriment; provided, however, that the aggregate payments required to be made under this Section 5.4(a6.4 (a) with respect to any Timing Difference shall not exceed the aggregate amount of the Income Tax Benefits realized by the Group from which such payment is made for all taxable periods and the Group receiving such payment for all Tax Indemnification Periods as a result of such Timing Difference. All such payments shall be made within 10 days after the relevant Income Tax Detriment has been Actually Realized and the Group Actually Realizing such Income Tax Detriment notifies the other Group, as the case may be.

Timing Differences. If a Tax Audit Proceeding or an amendment of a Tax Return results in a Timing Difference, and such Timing Difference results in a decrease in an indemnity obligation AWS Crane or Avalon Huttig has, or otherwise would have had, under Section 5.1 6.1 and/or an increase in the amount of a Tax Refund to which AWS Crane or Avalon Huttig is entitled under Section 3.2, then in each Post-Tax Indemnification Period in which the AWS Crane Group or the Avalon Huttig Group Actually Realizes an Income Tax Detriment, either AWS Crane or AvalonHuttig, as the case may be, shall pay to the other an amount equal to such Income Tax Detriment; provided, however, that the aggregate payments required to be made under this Section 5.4(athe (a) with respect to any Timing Difference shall not exceed the aggregate amount of the Income Tax Benefits realized by the Group from which such payment is made for all taxable periods and the Group receiving such payment for all Tax Indemnification Periods as a result of such Timing Difference. All such payments shall be made within 10 days after the relevant Income Tax Detriment has been Actually Realized and the Group Actually Realizing such Income Tax Detriment notifies the other Group, as the case may be.