Examples of Tax Year in a sentence
The Parties agree to allocate all Tax Items for Federal Income Tax purposes for the Tax year that includes the Extraordinary Reduction Date with respect to each such Applicable SpinCo CFC with respect to which such an election is made to any periods ending on or prior to the Extraordinary Reduction Date based on a closing of the books method under Treasury Regulations Section 1.1502-76, to the extent permitted by Treasury Regulations Section 1.245A-5(e)(3)(i) (or any successor guidance).
With respect to any not yet delinquent Asset Taxes relating to a Tax year ending after the Closing Date, Buyer will assume responsibility for the actual payment of all such Asset Taxes to the applicable Governmental Authority subject to any applicable adjustment to the Purchase Price pursuant to Section 8.11.