Common use of Determination of Tax Attributable to a Particular Entity Clause in Contracts

Determination of Tax Attributable to a Particular Entity. (a) For purposes of this Article II, the amount of Taxes attributable to a particular entity shall be determined by Air Products in a manner consistent with the past return filing practices of the Air Products Group with respect to the relevant Tax Return (including any past accounting methods, elections and conventions). Without limiting the generality of the foregoing, the following principles shall apply for purposes of determining the amount of Tax attributable to a particular entity: (i) including only Tax Items of the relevant entity that were included in the relevant Tax Return (i.e., as though the relevant entity prepared such Tax Return on a stand-alone basis); (ii) except as provided in Section 2.10(a)(iv) hereof, using all elections, accounting methods and conventions used on the relevant Tax Return for such period; (iii) applying the highest statutory marginal corporate income Tax rate in effect for such taxable period; (iv) assuming that the relevant entity elects not to carry back any net operating losses. (b) In the event a Non-Income Tax is attributable or traceable to a specific asset, then such Tax shall be attributable to the entity that owns the relevant asset.