Definition of Interim Tax Period


Interim Tax Period means with respect to any Straddle Period, the portion of such Straddle Period that begins on the first day of such Straddle Period and ends on the Closing Date.

Examples of Interim Tax Period in a sentence

Seller will assume from the Company any liability for Income Taxes for the Interim Tax Period to the extent such Income Taxes are not reflected in the Financial Statements.
In any case where applicable Law specifically prohibits the Company from treating the Closing Date as the last day of a Short Tax Period, then for purposes of this Agreement, the portion of such Tax that is attributable to the operations of the Company for such Interim Tax Period will be the Tax that would be due with respect to the Interim Tax Period if such Interim Tax Period were a Short Tax Period.
In any case where applicable Law specifically prohibits the Company from treating the Closing Date as the last day of a Short Tax Period, then for purposes of this Agreement, the portion of such Income Tax that is attributable to the operations of the Company for such Interim Tax Period will be the Income Tax that would be due with respect to the Interim Tax Period if such Interim Tax Period were a Short Tax Period.