Common use of General Responsibility for Taxes Clause in Contracts

General Responsibility for Taxes. (a) All federal Income Taxes of the HRPT Group shall be borne by, shall be the responsibility of, and shall be paid by the HRPT Group, and all federal Income Taxes of the GOV Group shall be borne by, shall be the responsibility of, and shall be paid by the GOV Group. For purposes of federal Income Taxes, items of income, gain, loss, deduction, expenditure, and credit shall be allocated and apportioned between the HRPT Group and the GOV Group in the following manner. Any item relating to the Property Assets or the GOV Group shall be: (i) allocated exclusively to the HRPT Group if such item is in respect of a period ending before the Effective Date; (ii) allocated exclusively to the GOV Group if such item is in respect of a period commencing after the Effective Date; and (iii) apportioned, if such item is in respect of a period that includes the Effective Date, between the HRPT Group and the GOV Group in a manner consistent with (A) applicable Tax laws (including the analogous principles of Section 1.1361-5(a)(1)(iii) of the Treasury Regulations under which the GOV Group would cease to be a qualified REIT subsidiary of the HRPT Group at the close of the Effective Date), (B) the continued qualification of both HRPT and GOV as real estate investment trusts under the Code, and (C) commercially reasonable prorations of items between transferors and transferees of real estate.

General Responsibility for Taxes. (a) All federal Income Taxes of the HRPT SIR Group shall be borne by, shall be the responsibility of, and shall be paid by the HRPT SIR Group, and all federal Income Taxes of the GOV ILPT Group shall be borne by, shall be the responsibility of, and shall be paid by the GOV ILPT Group. For purposes of federal Income Taxes, items of income, gain, loss, deduction, expenditure, and credit shall be allocated and apportioned between the HRPT SIR Group and the GOV ILPT Group in the following manner. Any item relating to the Property Assets ILPT Properties or the GOV ILPT Group shall be: (i) allocated exclusively to the HRPT SIR Group if such item is in respect of a period ending before the Effective Date; (ii) allocated exclusively to the GOV ILPT Group if such item is in respect of a period commencing after the Effective Date; and (iii) apportioned, if such item is in respect of a period that includes the Effective Date, between the HRPT SIR Group and the GOV ILPT Group in a manner consistent with (A) applicable Tax laws (including the analogous principles of Section 1.1361-5(a)(1)(iii) of the Treasury Regulations under which the GOV members of ILPT Group would cease to be a qualified REIT subsidiary subsidiaries of the HRPT Group SIR at the close of the Effective Date), (B) the continued qualification of both HRPT SIR and GOV ILPT as real estate investment trusts under the Code, and (C) commercially reasonable prorations of items between transferors and transferees of real estate.