Common use of Apportionment of Income and Loss Clause in Contracts

Apportionment of Income and Loss. For purposes of apportioning taxable income or loss relating to any taxable period that ends on the Closing Date ("SHORT TAX PERIOD") and for that portion of any taxable year that includes (but that does not end on) the Closing Date (a "PARTIAL TAX PERIOD"), such taxable income or loss will be determined by reference to the operations of the Acquired Companies through the Closing Date as though it were the last day of a taxable year. If required, appropriate elections will be made with applicable taxable authorities to accomplish such result.

Apportionment of Income and Loss. For purposes of apportioning taxable income or loss relating to any taxable period that ends on the Closing day immediately preceding the Effective Date ("SHORT TAX PERIODShort Tax Period") and for that portion of any taxable year that includes (but that does not end on) the Closing day immediately preceding the Effective Date (a "PARTIAL TAX PERIODPartial Tax Period"), such taxable income or loss will shall be determined by reference to the operations of the Acquired Companies each Company through the Closing day immediately preceding the Effective Date as though it were the last day of a taxable year. If required, appropriate elections will shall be made with applicable taxable authorities to accomplish such result.

Apportionment of Income and Loss. For purposes of apportioning taxable income or loss of the Company relating to any taxable period that ends on the Closing Date ("SHORT TAX PERIOD") and for that portion of any taxable year that includes (but that does not end on) the Closing Date (a "PARTIAL TAX PERIOD"), such taxable income or loss will shall be determined by reference to the operations of the Acquired Companies Company through the Closing Date as though it were the last day of a taxable year. If required, appropriate elections will shall be made with applicable taxable authorities to accomplish such result.