Common use of Carrybacks and Carry Forwards Clause in Contracts

Carrybacks and Carry Forwards. If part or all of an unused ----------------------------- consolidated net operating loss or tax credit is allocated to a Party pursuant to Treasury Regulations Section 1.1502-79 (or comparable provision under foreign, state, or local law) and is carried back or forward to a year in which such Party was not a member of the Consolidated Return from which such tax attribute arose, any refund or reduction in Tax liability arising from the carryback or carryover shall be retained by such Party (if such refund or reduction goes to a Party other than the Party entitled to the refund under this Section 3.3, then such other Party shall pay over such amount to the Party entitled to the refund under this Section 3.3

Carrybacks and Carry Forwards. If part or all of an unused ----------------------------- consolidated net operating loss or tax credit is allocated to a Party pursuant to Treasury Regulations Section 1.1502-79 (or comparable provision under foreign, state, or local law) and is carried back or forward to a year in which such Party was not a member of the Consolidated Return from which such tax attribute arose, any refund or reduction in Tax liability arising from the carryback or carryover shall be retained by such Party (if such refund or reduction goes to a Party other than the Party entitled to the refund under this Section 3.3, then such other Party shall pay over such amount to the Party entitled to the refund under this Section 3.3this