Common use of Allocation of Certain Taxes Clause in Contracts

Allocation of Certain Taxes. (i) If the Acquired Company and its Subsidiaries are permitted but not required under applicable state, local, or foreign income tax Laws to treat the Acquired Balance Sheet Date as the last day of a taxable period, then the parties shall treat that day as the last day of a taxable period.

Allocation of Certain Taxes. (ia) If The Parties agree that if any entity transferred to the Acquired Company and its Subsidiaries are LLC is permitted but not required under applicable stateforeign, local, state or foreign income tax Laws local Income Tax laws to treat the Acquired Balance Sheet day before the Closing Date or the Closing Date as the last day of a taxable period, then the parties such day shall treat that day be treated as the last day of a taxable period.