Code Section 338(h)(10) Election Sample Clauses
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Code Section 338(h)(10) Election. Buyer and Sellers will join in making, and will take any and all action necessary to effect, a timely and irrevocable election under Section 338(h)(10) of the Code (and the Treasury Regulations and administrative pronouncements thereunder) and any comparable provision of state, local, or foreign Tax law. Buyer and Seller shall file all Tax Returns in a manner consistent with such Section 338(h)(10) election and will not take any position contrary thereto.
Code Section 338(h)(10) Election. At Buyer's sole request, Seller and Buyer will join in making a timely election under Section 338(h)(10) of the Internal Revenue Code of 1986, as amended and any corresponding elections under state, local or foreign tax law (collectively the "Section 338(h)(10) Election") with respect to the purchase and sale of the stock of the Company. Buyer shall pay any incremental taxes that the Seller is obligated to satisfy as a result of the Section 338(h)(10) Election in excess of taxes that would be due without such Section 338(h)(10) Election.
Code Section 338(h)(10) Election. Notwithstanding Section 2.4(a) above, if requested by Buyer, Buyer and Seller shall join in making an election under Code Section 338(h)(10) (and any corresponding election under state, local, or foreign Tax Law) (collectively, a “338(h)(10) Election”) with respect to any purchase and sale of the stock of Tube-Alloy Corporation and any of its subsidiaries hereunder.