Post-Effective Date Tax Period means any taxable year or period that begins after the Effective Date and, with respect to any Straddle Period, the portion of such Straddle Period beginning the day after the Effective Date.
Examples of Post-Effective Date Tax Period in a sentence
If, in lieu of receiving any such refund, the Company or any Subsidiary reduces a Tax liability with respect to a Post-Effective Date Tax Period, Buyer shall promptly pay or cause to be paid to Seller the amount of such reduction in Tax liability.
In the event of an adjustment to any income Tax Return filed prior to the Effective Date that changes the Tax Liability of the Company for a Post-Effective Date Tax Period and increases the aggregate Tax Liability of the Company, the Shareholders shall pay to the Company an amount equal to the amount by which the Company's aggregate Taxes are increased by such Post-Effective Date Tax Adjustment subject to the terms and conditions of Section 7.5.
Buyer shall be entitled to all refunds and credits (including interest thereon) of (i) all Taxes for any Post-Effective Date Tax Period and (ii) all Taxes other than Income Taxes (and franchise Taxes based on capital) for any Pre-Effective Date Tax Period.
Seller shall be liable for the proportionate amount of such Property Taxes that is attributable to the Pre-Effective Date Tax Period, and Purchaser shall be liable for the proportionate amount of such Property Taxes that is attributable to the Post-Effective Date Tax Period.
All Property Taxes levied with respect to the Entire Transferred Assets for the Straddle Period shall be apportioned between Purchaser and Seller based on the number of days of such Straddle Period included in the Pre-Effective Date Tax Period and the number of days of such Straddle Period included in the Post-Effective Date Tax Period.