Definition of Consolidated Year


Consolidated Year means, with respect to any Federal Income Tax, any Tax Year for which a Consolidated Return is filed; provided, however, that Consolidated Year means only that portion of such Tax Year in which one or more members of the DHC Group are included in the Consolidated Return.
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Examples of Consolidated Year in a sentence

If the TODCO Tax Group generates a Carryback to a Consolidated Year or Combined Year, then, upon request of TODCO, Holdings may, in its sole discretion, file a claim for refund arising from such Carryback and pay such refund to TODCO in accordance with Section 5.
In the event that a Carryback by the TODCO Tax Group to a Consolidated Year or Combined Year increases the liability for Taxes of the Transocean Tax Group, the amount of the refund to which the TODCO Tax Group shall be entitled to receive, in accordance with Section 5, shall be net of such increased liability to the Transocean Tax Group.
Such amount shall be determined as if TODCO and its eligible Subsidiaries were not required to join and did not join in the filing of the Consolidated Return for that Consolidated Year but instead filed their own consolidated Federal Income Tax Return on which TODCO's tax liability was calculated pursuant to Treasury Regulations Section 1.1552-1(a)(2)(ii).
If the LMI Group generates a Carryback to a Consolidated Year or Combined Year, then, upon the request of LMI, LMC may, in its sole discretion, file a claim for refund arising from such Carryback and pay such refund to LMI in accordance with Section 5.2(a).
If the DHC Group generates a Carryback to a Consolidated Year or Combined Year, then, upon the request of DHC, LMC may, in its sole discretion, file a claim for refund arising from such Carryback and pay such refund to DHC in accordance with Section 5.2(a).