Effect of Taxes. The determination of any indemnified loss, cost or expense shall take into account any tax benefit derived by Purchaser or any affiliated companies. To the extent that any deficiency for state, local, or federal income taxes which may be established against Company for any year ended on or prior to December 31, 1997, is occasioned by a determination by the Internal Revenue Service or state or local departments of revenue that any increase in income for the year gives rise to a deduction or deductions from ordinary income of Company in the same aggregate amount for a subsequent taxable year or years, such deficiency shall be assumed by Purchaser and shall not be a breach of any of Company or Shareholders' warranties, representations and covenants in this Agreement.
Appears in 4 contracts
Samples: Asset Purchase Agreement (American Radio Systems Corp /Ma/), Asset Purchase Agreement (American Radio Systems Corp /Ma/), Asset Purchase Agreement (American Tower Systems Corp)
