Common use of Computation and Payment of Liability With Respect To Tax Due Clause in Contracts

Computation and Payment of Liability With Respect To Tax Due. Within thirty (30) Business Days following the earlier of (i) the due date (including extensions) for filing any such Tax Return (excluding any Tax Return with respect to payment of estimated Taxes or Taxes due with a request for extension of time to file) or (ii) the date on which such Tax Return is filed, if Houston is the Responsible Company, then Seattle shall pay to Houston the amount allocable to the Seattle Group under the provisions of this Agreement, and if Seattle is the Responsible Company, then Houston shall pay to Seattle the amount allocable to the Houston Group under the provisions of this Agreement, in each case, plus interest computed at the Prime Rate on the amount of the payment based on the number of days from the earlier of (i) the due date of the Tax Return (including extensions) or (ii) the date on which such Tax Return is filed, to the date of payment. For the avoidance of doubt, however, the thirty (30) Business Day period described herein shall not commence unless and until the Responsible Company notifies the other Company pursuant to Section 4.01(a) hereof, nor shall interest accrue during any time period where such notification has not been received.

Computation and Payment of Liability With Respect To Tax Due. Within thirty (30) Business Days following the earlier of (i) the due date (including extensions) for filing any such Tax Return (excluding any Tax Return with respect to payment of estimated Taxes or Taxes due with a request for extension of time to file) or (ii) the date on which such Tax Return is filed, if Houston HP is the Responsible Company, then Seattle Enterprise shall pay to Houston HP the amount allocable to the Seattle Enterprise Group under the provisions of this AgreementSection 2, and if Seattle Enterprise is the Responsible Company, then Houston HP shall pay to Seattle Enterprise the amount allocable to the Houston HP Group under the provisions of this AgreementSection 2, in each case, plus interest computed at the Prime Rate on the amount of the payment based on the number of days from the earlier of (i) the due date of the Tax Return (including extensions) or (ii) the date on which such Tax Return is filed, to the date of payment. For the avoidance of doubt, however, the thirty (30) Business Day period described herein shall not commence unless and until the Responsible Company notifies the other Company pursuant to Section 4.01(a) hereof, nor shall interest accrue during any time period where such notification has not been received.