Adjustments to Tax Liability. If any adjustments are made to the income, gains, losses, deductions or credits pertaining to the Subsidiaries, as reported in a Consolidated Return filed by Parent, by reason of the filing of an amended return or claim for refund, or arising out of an audit of such Consolidated Return by the Internal Revenue Service or applicable state agency, then the Separate Tax Liability or the Separate Tax Benefit of the Subsidiaries shall be redetermined to give effect to any such adjustment as if it had been made as part of the filed Consolidated Return. If any interest or penalty is to be paid or interest received as a result of a tax deficiency or refund, such interest or penalty shall be allocated in accordance with the item(s) giving rise to such interest or penalty. Mission Group agrees to exercise its contest rights under the Master Agreement on behalf of any First Tier Subsidiary and the reasonable costs so incurred by Mission Group shall be allocated upon such basis as is mutually agreed to by Mission Group and such First Tier Subsidiary in advance of such contest. If, as a result of such redetermination, any amounts due to Mission Group or any of the First Tier Subsidiaries under this Agreement, as the case may be, shall exceed the amounts previously paid to such party, then payment of such excess shall be made by the appropriate party, as the case may be, on the earliest date on which (i) Parent shall pay, or be deemed to have paid, any additional taxes resulting from any such adjustment; (ii) Parent shall receive, or be deemed to have received, a refund of taxes resulting from any such adjustment; or (iii) such adjustment shall become final; any payment between Mission Group and any of the First Tier Subsidiaries pursuant to (i) or (ii) above, however, shall not become final until the adjustment with respect to which the redetermination was made becomes final. For purposes of this Section 3, an adjustment shall become final at the time of the expiration of the applicable statute of limitations with respect to the taxable period to which such adjustment relates, or, if such adjustment was made pursuant to a decision of a court, at the time such decision shall become final.
Adjustments to Tax Liability. If the consolidated tax liability is adjusted for any Consolidated Return Year, whether by means of an amended return, claim for refund or after a tax audit by the Internal Revenue Service (except for protective refund claims), the liability of the Parent and each Subsidiary under Section (3) of this Agreement shall be recomputed to give effect to such adjustment as if it had been made as part of the original computation of tax liability, and, in the case of a refund, Parent shall pay each Subsidiary that portion of such refund as is attributable to the decrease in such Subsidiary's allocated consolidated Federal tax liability caused by the adjustment within thirty days after the refund is received by Parent and in the case of an increase in tax liability, each Subsidiary shall pay to Parent that portion of such increased tax liability (including all penalties, interest, and additions to tax, if any) as is attributable to the increase in such Subsidiary's allocated consolidated Federal tax liability caused by the adjustment within thirty days after receiving notice of such liability from Parent.
Adjustments to Tax Liability. If the U.S. consolidated income tax liability is adjusted for any taxable period, whether pursuant to an amended return, a claim for refund, a tax audit by the Internal Revenue Service or some other reason, the liability of each Member shall be recomputed to give effect to such adjustments, and in the case of a refund, Wafer Holdings shall make payment to each Member for its share of the refund, determined in the same manner as in Section 2 above, within 10 business days after the refund is received by Wafer Holdings, and in the case of an increase in tax liability, each Member shall pay to Wafer Holdings its allocable share of such increased tax liability (including its Equitable Share of any interest and penalties) within 10 business days after receiving notice of such liability from Wafer Holdings. The parties recognize that a recomputation of the consolidated tax liability for any taxable year under this Section 6 is not necessarily the final liability for such year, and such liability may be recomputed more than once.
Adjustments to Tax Liability. (a) If the consolidated federal tax liability is adjusted for any taxable period, whether pursuant to an amended return, a claim for refund, a tax audit by the Internal Revenue Service or some other reason, the liability of the Parties and each Subgroup Member shall be recomputed to give effect to such adjustments. In the case of a refund, Parent shall make payment to Covanta, and Covanta shall make a payment to each Subgroup Member, for its share of the refund determined in the same manner as in Section 2 above, within 10 business days after the refund is received by Parent or Covanta, as applicable. In the case of an increase in tax liability, (i) each Subgroup Member shall pay to Covanta its allocable share of such increased tax liability (including its Equitable Share of any interest and penalties) within 5 business days after receiving notice of such liability from Covanta, and (ii) Covanta shall pay to Parent the Covanta Subgroup's share of such increase (including Covanta Subgroup's Equitable Share of any interest and penalties) within 10 business days after receiving notice of such liability from Parent. The Members recognize that a recomputation of the consolidated tax liability for any taxable year under this Section 9 is not necessarily the final liability for such year, and such liability may be recomputed more than once.
Adjustments to Tax Liability. If the consolidated tax liability is adjusted for any taxable period, whether pursuant to an amended return, a claim for refund, a tax audit by the Internal Revenue Service or some other reason, the liability of each Member shall be recomputed to give effect to such adjustments, and in the case of a refund, Borrower shall make payment to each Member for its share of the refund, determined in the same manner as in paragraph 2 above, within twenty business days after the refund is received by Borrower, and in the case of an increase in tax liability, each Member shall pay to Borrower its allocable share of such increased tax liability (including interest and penalties) within ten business days after receiving notice of such liability from Borrower. The parties recognize that a recomputation of the consolidated tax liability for any taxable year under this paragraph 6 is not necessarily the final liability for such year, and such liability may be recomputed more than once.
Adjustments to Tax Liability. If the consolidated tax liability is adjusted for any taxable period, whether pursuant to an amended return, a claim for refund, a tax audit by the Internal Revenue Service or some other reason, the liability of each Member shall be recomputed to give effect to such adjustments, and in the case of a refund, Holdings shall make payment to the Borrower for the Borrower Sub-Group's share of the refund, determined in the same manner as in paragraph 2 above, within twenty business days after the refund is received by Holdings, and in the case of an increase in tax liability, the Borrower shall pay to Holdings the Borrower Sub-Group's allocable share of such increased tax liability (including interest and penalties) within ten business days after receiving notice of such liability from Holdings. The parties recognize that a recomputation of the consolidated tax liability for any taxable year under this paragraph 6 is not necessarily the final liability for such year, and such liability may be recomputed more than once.
Adjustments to Tax Liability. If the consolidated Federal income tax liability of the Affiliated Group is adjusted for any taxable period, whether by means of an amended return or claim for refund or after an audit by the Internal Revenue Service, the Federal income tax liability of Precise Holding or Precise Group pursuant to section 2 or section 4 of this Agreement shall be recomputed, if necessary, to give effect to those adjustments as if they had been part of the original computation pursuant to section 2 or section 4. The obligation to make any payment of additional Federal income tax or the right to receive any refund of Federal income tax shall be allocated between Parent, Precise Holding and Precise Group accordingly. Any additional tax that Precise Holding or Precise Group is obligated to pay shall be paid to Parent, and any refund of tax to which Precise Holding or Precise Group is entitled to receive shall be paid by Parent, within ten days of, respectively, the date Precise Holding or Precise Group receives notice from Parent or the date Parent receives the refund from the Treasury Department.
Adjustments to Tax Liability. If the consolidated tax liability is adjusted for any tax year, whether by means of an amended return, claim for refund or as a result of a tax audit, the liability of National and each company shall be recomputed to give effect to such adjustment as if it had been made as part of the original computation of tax liability. In the case of a refund, National shall pay each company that portion of such refund as is attributable to the decrease in such company's allocated tax liability caused by the adjustment, and in the case of an increase in tax liability, each company shall pay to National that portion of such increased tax liability (including penalties and interest, if any) as is attributable to the increase in each company's allocated tax liability caused by the adjustment.
Adjustments to Tax Liability. If the consolidated tax liability of the Affiliated Group is adjusted for any Affiliated Taxable Period, whether pursuant to an amended return, a claim for refund, a tax audit by the Internal Revenue Service (the "IRS") or for some other reason, the liability of each Member shall be recomputed in accordance with the principles of this
Adjustments to Tax Liability. If the consolidated Federal income tax liability of the Group or any of it members is adjusted for any taxable period for any reason other than a loss or credit carryback to the extent already provided for in Section 2(c), whether by means of an amended return, judicial decision, claim for refund or tax audit by the IRS, Separate Company Tax Liability or the amount of tax benefits realized by the Group by reason of the use of U.S. Subsidiary losses or credits shall be recomputed to give effect to such adjustment, and the amount of any payments due under Section 2 hereof shall be appropriately
