Controlled Liabilities and Payments. For any Tax Year (or portion thereof), Controlled shall (i) be liable for the Taxes (determined without regard to Tax Benefits) allocated to it by this Section 2, reduced by any Tax Benefits allocated to Distributing or Controlled that are allowable under applicable Tax Law to reduce such Taxes, (ii) pay such Taxes, as so reduced, either to the applicable Tax Authority or to Distributing as required by Section 4, and (iii) pay Distributing for any Tax Benefits allocated to Distributing by this Section 2 that Controlled uses to reduce Taxes payable by it pursuant to clause (ii) of this Section 2.1(b).
Appears in 4 contracts
Samples: Tax Sharing Agreement (Liberty Media Corp), Ii Tax Sharing Agreement (Liberty Splitco, Inc.), Ii Tax Sharing Agreement (Liberty Splitco, Inc.)
