Common use of ZAP Clause in Contracts

ZAP. ▇▇▇ ▇▇▇ any ZAP.▇▇▇ ▇▇▇t-Closing Affiliate shall have the right, in its sole discretion, to make any election, including the election under Section 172(b)(3) of the Code, which would eliminate or limit the carry-back of any loss or credit to any Taxable Period ending before or including the Effective Date.