Additional Tax Matters. Each Party shall be entitled to all tax benefits, including in particular, tax credits and/or tax deductions attributable to amounts that such Party has funded regarding the Development of Product hereunder. Each Party shall file its federal, state, and local tax returns on a basis consistent with this Agreement, and shall not take any action inconsistent with the other Party’s entitlement to such tax benefits. In the event that a Party, in its reasonable judgment, determines that it must obtain information and verification regarding the use or application of such expenditures in order to prepare its tax returns or to respond to any inquiry during a tax audit or any other inquiry relating to such treatment of its tax return, or to defend its tax position in any proceeding including litigation, the other Party shall reasonably cooperate with the requesting Party and furnish it with such information as it may reasonably require at the requesting Party’s request and expense.
Appears in 4 contracts
Samples: License, Supply, Marketing, Distribution and Collaboration Agreement (Osmotica Pharmaceuticals PLC), License, Supply, Marketing, Distribution and Collaboration Agreement (Osmotica Pharmaceuticals LTD), License, Supply, Marketing, Distribution and Collaboration Agreement (Osmotica Pharmaceuticals LTD)
Additional Tax Matters. Each Party shall be entitled to all tax benefits, including in particular, tax credits and/or tax deductions attributable to amounts that such Party has funded regarding the Development of Product hereunderLicensed Products. Each Party shall file its federalany applicable national, stateregional, and local tax returns on a basis consistent with this Agreement, and shall not take any action inconsistent with the other Party’s 's entitlement to such tax benefits. In the event that a Party, in its reasonable judgment, determines that it must obtain information and verification regarding the use or application of such expenditures in order to prepare its tax returns or to respond to any inquiry during a tax audit or any other inquiry relating to such treatment of its tax return, or to defend its tax position in any proceeding including litigation, the other Party shall reasonably cooperate with the requesting Party and furnish it with such information as it may reasonably require at the requesting Party’s 's request and expense.. EXECUTION VERSION
Appears in 1 contract
Samples: Collaboration and License Agreement (PTC Therapeutics, Inc.)
