Common use of Computation and Payment of Tax Due Clause in Contracts

Computation and Payment of Tax Due. Subject to the provisions of Section 4.06, at least three business days prior to any Payment Date pertaining to such a Tax Return the Responsible Company shall compute the amount of Tax required to be paid on such Payment Date to the applicable Tax Authority with respect to such Tax Return (whether for estimated Tax, a request for an extension of the time to file or the original Tax Return for the Tax Period) and shall notify the Other Company of its allocable share of such Tax as determined in accordance with the provisions of this Agreement, including, without limitation, the provisions of Sections 4.04 and 4.05. On or before such Payment Date, the Responsible Company shall pay such Tax to the applicable Tax Authority (whether or not it has theretofore received, pursuant to Section 5.01(b), payment from the Other Company of its allocable share of such Tax payment).