Allocation of the Purchase Price. Prior to Closing, Buyer and Seller shall agree to an allocation of the Purchase Price. Buyer and Seller shall use such allocation for all reporting purposes in connection with federal, state and local income and, to the extent permitted under applicable law, franchise taxes. Buyer and Seller agree to report such allocation to the Internal Revenue Service in the form required by Treasury Regulation 1.10601T.
Appears in 1 contract
Samples: Asset Purchase Agreement (Salem Communications Corp /De/)
Allocation of the Purchase Price. Prior to Closing, Buyer and Seller shall agree to an allocation of the Purchase Price. Buyer and Seller shall use such allocation for all reporting purposes in connection with federal, state and local income and, to the extent permitted under applicable law, franchise taxes. Buyer and Seller agree to report such allocation to the Internal Revenue Service in the form required by Treasury Regulation 1.10601T.Section 1.1060-1T.
Appears in 1 contract
Samples: Asset Purchase Agreement (Salem Communications Corp /De/)
Allocation of the Purchase Price. Prior to Closing, Buyer and Seller shall use their reasonable best efforts to agree to on an allocation of the Purchase Price. Buyer and Seller shall use such allocation for all reporting purposes in connection with federal, state and local income and, to the extent permitted under applicable law, franchise taxes. Buyer and Seller agree to report such allocation to the Internal Revenue Service in the form required by Treasury Regulation 1.10601T.Section 1.1060-1T.
Appears in 1 contract
Samples: Asset Purchase Agreement (Salem Communications Corp /De/)
Allocation of the Purchase Price. Prior to Closing, Buyer and Seller shall agree to an allocation of the Purchase PricePrice as set forth in SCHEDULE 2.5 hereof. Buyer and Seller shall use such allocation for all reporting purposes in connection with federal, state and local income and, to the extent permitted under applicable law, franchise taxes. Buyer and Seller agree to report such allocation to the Internal Revenue Service in the form required by Treasury Regulation 1.10601T.Section 1.1060-1T.
Appears in 1 contract
Samples: Asset Purchase Agreement (Salem Communications Corp /De/)
Allocation of the Purchase Price. Prior to Closing, Buyer and Seller shall agree to an allocation of the Purchase Price. Buyer and Seller shall use such allocation for all reporting purposes in connection with federal, state and local income and, to the extent permitted under applicable law, franchise taxes. Buyer and Seller agree to report such allocation to the Internal Revenue Service in the form required by Treasury Regulation 1.10601T.ss. 1.1060-1T.
Appears in 1 contract
Samples: Asset Purchase Agreement (Childrens Broadcasting Corp)
Allocation of the Purchase Price. Prior to Closing, Buyer and Seller --------------------------------- shall agree to an allocation of the Purchase Price. Buyer and Seller shall use such allocation for all reporting purposes in connection with federal, state and local income and, to the extent permitted under applicable law, franchise taxes. Buyer and Seller agree to report such allocation to the Internal Revenue Service in the form required by Treasury Regulation 1.10601T.1.1060-1T.
Appears in 1 contract
Samples: Asset Purchase Agreement (Salem Communications Corp /De/)