Audits; No Deficiencies Asserted. Except as set forth in the WE JAC Disclosure Letter, none of the Tax Returns of WE JAC or of any of its Subsidiaries have ever been audited by any Tax Authority, nor is any such audit in process, pending or threatened (either in writing or verbally, formally or informally), and all deficiencies asserted against WE JAC or any of its Subsidiaries as a result of IRS examinations have been paid or finally settled and no issue has been raised by any IRS examination that, by application of the same principles, is likely to result in a proposed deficiency for any other period not so examined. Except as set forth in the WE JAC Disclosure Letter, no material deficiencies with respect to Taxes, additions to Tax, interest, or penalties have been proposed or asserted against and communicated to WE JAC or any of its Subsidiaries, except those that have been paid in full and for those matters that would not result in liability being imposed against WE JAC or any of its Subsidiaries. (d)
Audits; No Deficiencies Asserted. Except as set forth in the Miracle Industries Disclosure Letter, none of the Tax Returns of Miracle Industries or of Hydro-Spray or Indy Ventures have ever been audited by any Tax Authority, nor is any such audit in process, pending or threatened (either in writing or verbally, formally or informally), and all deficiencies asserted against Miracle Industries or Hydro-Spray or Indy Ventures or the Affiliated Groups as a result of IRS examinations have been paid or finally settled and no issue has been raised by any IRS examination that, by application of the same principles, is likely to result in a proposed deficiency for any other period not so examined. Except as set forth in the Miracle Industries Disclosure, no material deficiencies with respect to Taxes, additions to Tax, interest, or penalties have been proposed or asserted against and communicated to the Affiliated Groups, any member of the Affiliated Groups, Miracle Industries or Hydro-Spray or Indy Ventures, except those that have been paid in full and for those matters that would not result in liability being imposed against Miracle Industries or Hydro-Spray or Indy Ventures. (d)
Audits; No Deficiencies Asserted. None of the Tax Returns of ITS PLC or any of the ITS Subsidiaries has ever been audited by any Tax Authority, nor is any such audit in process, pending or threatened (either in writing or verbally, formally or informally), and all deficiencies asserted against ITS PLC or any of the ITS Subsidiaries as a result of any Tax Authority examinations have been paid or finally settled and no issue has been raised by any Tax Authority examination that, by application of the same principles, is likely to result in a proposed deficiency for any other period not so examined. No material deficiencies with respect to Taxes, additions to Tax, interest, or penalties have been proposed or asserted against and communicated to ITS PLC or any of the ITS Subsidiaries, except those that have been paid in full and for those matters that would not result in liability being imposed against ITS PLC or any of the ITS Subsidiaries.
Audits; No Deficiencies Asserted. None of the Tax Returns of Aero have ever been audited by any Tax Authority, nor is any such audit in process, pending or threatened (either in writing or verbally, formally or informally), and all deficiencies asserted against Aero as a result of Tax Authority examinations have been paid or finally settled and no issue has been raised by any Tax Authority examination that, by application of the same principles, is likely to result in a proposed deficiency for any other period not so examined. No material deficiencies with respect to Taxes, additions to Tax, interest, or penalties have been proposed or asserted against and communicated to Aero, except those that have been paid in full and for those matters that would not result in liability being imposed against Aero.
