Common use of Execution of Tax Returns Prepared by Other Party Clause in Contracts

Execution of Tax Returns Prepared by Other Party. In the case of any Tax Return that is required to be prepared by one Company under this Agreement and that is required by law to be signed by the other Company (or by its authorized representative), the Company that is legally required to sign such Tax Return shall not be required to sign such Tax Return under this Agreement unless there is at least a “reasonable basis” (or comparable standard under state, local or foreign law) for the Tax treatment of each material item reported on the Tax Return.

Execution of Tax Returns Prepared by Other Party. In the case of any Tax Return that which is required to be prepared and filed by one Company under this Agreement and that which is required by law to be signed by the other Company (or by its authorized representative), the Company that which is legally required to sign such Tax Return shall not be required to sign such Tax Return under this Agreement unless there is at least a “reasonable basis” (or comparable standard under state, local or foreign law) greater than 50% likelihood of prevailing on the merits for the Tax treatment of each material item reported on the Tax Return.

Execution of Tax Returns Prepared by Other Party. In the case of any Tax Return that which is required to be prepared and filed by one Company Party under this Agreement and that which is required by law to be signed by the other Company Party (or by its authorized representative), the Company that Party which is legally required to sign such Tax Return shall not be required to sign such Tax Return under this Agreement unless there is at least a “reasonable basis” (or comparable standard under state, local or foreign law) greater than 50% likelihood of prevailing on the merits for the Tax treatment of each material item reported on the Tax Return.