General Method of Proration. Tax Items shall be apportioned between Pre-Closing Periods and Post-Closing Periods in accordance with the principles of Treasury Regulation Section 1.1502-76(b) as reasonably interpreted and applied by OFC. No election shall be made under Treasury Regulation Section 1.1502-76(b)(2)(ii) (relating to ratable allocation of a year’s items). If the Closing Date is not an Accounting Cutoff Date, the provisions of Treasury Regulation Section 1.1502-76(b)(2)(iii) will be applied to allocate ratably the items (other than extraordinary items) for the month that includes the Closing Date.
Appears in 3 contracts
Samples: Tax Matters Agreement (Altisource Portfolio Solutions S.A.), Tax Matters Agreement (Altisource Portfolio Solutions S.A.), Tax Matters Agreement (Ocwen Financial Corp)
General Method of Proration. For purposes of Section 2, in the case of any Straddle Period, Tax Items shall be apportioned between Pre-Closing Distribution Periods and Post-Closing Distribution Periods in accordance with the principles of Treasury Regulation Section 1.1502-76(b) as reasonably interpreted and applied by OFC). No election shall be made under Treasury Regulation Section 1.1502-76(b)(2)(ii) (relating to ratable allocation of a year’s 's items). If the Closing Date is not an Accounting Cutoff Date, the provisions of Treasury Regulation Section 1.1502-76(b)(2)(iii) will be applied to ratably allocate ratably the items (other than extraordinary items) for the month that which includes the Closing Date.
Appears in 2 contracts
Samples: Tax Sharing and Indemnification Agreement (Emerging Communications Inc), Tax Sharing and Indemnification Agreement (Atlantic Tele Network Inc /De)
General Method of Proration. Tax Items shall be apportioned between Pre-Closing Periods and Post-Closing Periods in accordance with the principles of Treasury Regulation Section 1.1502-76(b) as reasonably interpreted and applied by OFCBrink’s. No election shall be made under Treasury Regulation Section 1.1502-76(b)(2)(ii) (relating to ratable allocation of a year’s items). If the Closing Date is not an Accounting Cutoff Date, the provisions of Treasury Regulation Section 1.1502-76(b)(2)(iii) will be applied to allocate ratably the items (other than extraordinary items) for the month that includes the Closing Date.
Appears in 2 contracts
Samples: Tax Matters Agreement (Brink's Home Security Holdings, Inc.), Tax Matters Agreement (Brinks Co)
General Method of Proration. Tax Items shall be apportioned between Pre-Closing Periods and Post-Closing Periods in accordance with the principles of Treasury Regulation Section 1.1502-76(b) as reasonably interpreted and applied by OFCNCR. No election shall be made under Treasury Regulation Section 1.1502-76(b)(2)(ii) (relating to ratable allocation of a year’s items). If the Closing Date is not an Accounting Cutoff Date, the provisions of Treasury Regulation Section 1.1502-76(b)(2)(iii) will be applied to allocate ratably the items (other than extraordinary items) for the month that which includes the Closing Date.
Appears in 2 contracts
Samples: Tax Sharing Agreement (Teradata Corp /De/), Tax Sharing Agreement (NCR Corp)
