Common use of Transfer Tax Returns Clause in Contracts

Transfer Tax Returns. Each Transfer Tax Return shall be prepared and filed, or caused to be prepared and filed, in a timely manner with the appropriate Taxing Authority by the Party responsible, or whose Subsidiary is responsible, for filing such Tax Return under applicable Law; provided that such filing Party shall (x) use commercially reasonable efforts to provide the other Party with a draft copy of such Tax Return before the due date for filing such Tax Return (including extensions) and (y) consider in good faith any comments provided by such other Party. Such filing Party shall timely pay to such Taxing Authority the amount shown as due on such Tax Return, without prejudice to such Party’s right to be indemnified hereunder with respect to Transfer Taxes.