Common use of DEFERRED REVENUE Clause in Contracts

DEFERRED REVENUE. The Parties agree (i) that for U.S. federal and all applicable state and local income Tax purposes, any Liability that is assumed by Buyer in connection with the Transactions and that is attributable to deferred revenue shall not be treated as giving rise to taxable income of Buyer and (ii) not to take any position on any Tax Return that is inconsistent with the treatment described in clause (i) of this Section 7.03(a).

DEFERRED REVENUE. The Parties parties agree (i) that for U.S. federal and all applicable state and local income Tax purposes, any Liability liability that is assumed by Buyer the Purchaser in connection with the Transactions this Agreement and that is attributable to prepaid income, advance payments or deferred revenue shall (A) not be treated as giving rise to taxable income of Buyer and (ii) not to take any position on any Tax Return that is inconsistent with the treatment described in clause (i) of this Section 7.03(a).Purchaser under Xxxxx X. Xxxxxx Corp. v.

DEFERRED REVENUE. The Parties parties agree (ia) that for U.S. federal and all applicable state and local income Tax purposes, any Assumed Liability that is assumed by Buyer in connection with the Transactions and that is attributable to deferred revenue shall not be treated as giving rise to taxable income of Buyer under Xxxxx X. Xxxxxx Corp., 326 F.2d 67 (8th Cir. 1964), or otherwise, and (iib) not to take any position on any Tax Return that is inconsistent with the treatment described in clause (ia) of this Section 7.03(a).immediately foregoing. ARTICLE XII MISCELLANEOUS