Common use of Tax Returns Filed Clause in Contracts

Tax Returns Filed. The Company and each Subsidiary has filed when due all federal and state income and other tax returns which are required to be filed. The Company has paid or made provision for the payment of all taxes shown on such returns, and on all assessments received by it to the extent that such taxes or assessments have become due, except any such taxes or assessments which are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been established. The Company has no knowledge of any liabilities which may be asserted against it or any Subsidiary upon audit of its federal or state tax returns.

Tax Returns Filed. The Company and each Subsidiary has filed when due all federal and state income and other tax returns which are required to be filed. The Company has paid or made provision for the payment of all taxes shown on such returns, said returns and on all assessments received by it to the extent that such taxes or assessments have become due, due except any such taxes or assessments which are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been established. The Company has no knowledge of any liabilities which may be asserted against it or any Subsidiary upon audit of its federal or state tax returns.