Common use of Adjustments Resulting in Overpayments Clause in Contracts

Adjustments Resulting in Overpayments. Within 120 days of receipt by GS of any Tax Benefit resulting from any adjustment to the Tax liability with respect to any Tax Return for any Consolidated or Combined State Income Tax for any Pre-Distribution Period, GS shall pay to Systems its share of any such Tax Benefit determined by Systems. Any payments required under this Section 5.04(b) computed at the Prime Rate based on the number of days from the date the Tax Benefit was received by GS to the date of payment to Systems under this Section 5.04(b).

Appears in 2 contracts

Samples: Tax Sharing Agreement (General Semiconductor Inc), Tax Sharing Agreement (Commscope Inc)

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Adjustments Resulting in Overpayments. Within 120 30 days of receipt by GS of any Tax Benefit resulting from any adjustment to the Pre-Distribution Consolidated Tax liability Liability with respect to any Tax Return for any GI Federal Consolidated or Combined State Income Tax for any Pre-Distribution PeriodReturn, GS shall pay to Systems its share of any such Tax Benefit Benefit, as determined by Systems. Any payments required under this Section 5.04(b5.02(b) shall include interest computed at the Prime Rate based on the number of days from the date the Tax Benefit was received by GS to the date of payment to Systems Company under this Section 5.04(b5.02(b).

Appears in 2 contracts

Samples: Tax Sharing Agreement (Commscope Inc), Tax Sharing Agreement (General Semiconductor Inc)

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