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

Computation and Payment of Tax Due. Unless otherwise agreed to by the Companies, at least five business days prior to any Payment Date, ICN shall compute the amount of Tax required to be paid to the Internal Revenue Service (taking into account the requirements of Section 3.4 relating to consistent accounting practices) with respect to such Tax Return on such Payment Date and shall notify RIBAPHARM in writing of the amount of Tax required to be paid on such Payment Date. ICN will pay such amount to the Internal Revenue Service on or before such Payment Date.

Computation and Payment of Tax Due. Unless otherwise agreed to by the Companies, at least five business days prior to any Payment Date, ICN shall compute the amount of Tax required to be paid to the Internal Revenue Service (taking into account the requirements of Section 3.4 relating to consistent accounting practices) with respect to such Tax Return on such Payment Date and shall notify RIBAPHARM Ribapharm in writing of the amount of Tax required to be paid on such Payment Date. ICN will pay such amount to the Internal Revenue Service on or before such Payment Date.