Common use of Estimated Taxes Clause in Contracts

Estimated Taxes. (a) With respect to any Spinco Estimated Tax Amount that Spinco has paid to KAR: (i) If the Spinco Estimated Tax Amount is less than the Spinco Actual Estimated Tax Liability, Spinco shall pay KAR the amount of such excess pursuant to the terms of Section 3.7(b); and (ii) If the Spinco Estimated Tax Amount is greater than the Spinco Actual Estimated Tax Liability, KAR shall pay to Spinco the amount of such excess no later than fifteen (15) Business Days after the due date (taking into account any applicable extensions) for the Tax Return with respect to which the Spinco Actual Estimated Tax Liability pertains.