Common use of Income Tax Allocation and Reporting Clause in Contracts

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Seller, whether or not such income was disbursed during such calendar year.

Appears in 6 contracts

Samples: Escrow Agreement, Escrow Agreement (Eastern Co), Asset Purchase Agreement (Cafepress Inc.)

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Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerBorrower, whether or not such income was disbursed during such calendar year.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement (BrightSource Energy Inc)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Seller[*], whether or not such income was disbursed during a such calendar year.

Appears in 2 contracts

Samples: Escrow Agreement (Codexis Inc), Escrow Agreement (Codexis Inc)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerMarkWest Liberty, whether or not such income was disbursed during such calendar year.

Appears in 2 contracts

Samples: Services Agreement (Markwest Energy Partners L P), Limited Liability Company Agreement (Markwest Energy Partners L P)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of or with respect to the Escrow Property Escrowed Consideration shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Sellerthe Contributors, whether or not such income was disbursed during such calendar year.

Appears in 2 contracts

Samples: Contribution Agreement (Phillips Edison Grocery Center Reit I, Inc.), Contribution Agreement (Phillips Edison Grocery Center Reit I, Inc.)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shallwill, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Seller, and any taxes and related charges imposed with respect to that income will be borne by Seller, whether or not such income was disbursed during such calendar year.

Appears in 2 contracts

Samples: Stock Purchase Agreement (M/a-Com Technology Solutions Holdings, Inc.), Stock Purchase Agreement (Autoliv Inc)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerFBR, whether or not such income was disbursed during such calendar year.

Appears in 2 contracts

Samples: Escrow Agreement (Pacific DataVision, Inc.), Escrow Agreement (Pacific DataVision, Inc.)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerRafaella, whether or not such income was disbursed during such calendar year.

Appears in 2 contracts

Samples: Escrow Agreement (Rafaella Apparel Group,inc.), Escrow Agreement (Perry Ellis International Inc)

Income Tax Allocation and Reporting. (a) The Performing Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerVigor, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Escrow Agreement

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerBuyer, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Escrow Agreement (Mesa Offshore Trust)

Income Tax Allocation and Reporting. (a) The Parties parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property Amount shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerSellers, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Acquisition Agreement (Newgistics, Inc)

Income Tax Allocation and Reporting. (a) a. The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property Earnings shall, as of the end of each calendar year and to the extent required by the Internal Revenue ServiceService (“IRS”), be reported as having been earned by Seller, Seller whether or not such income was disbursed during such calendar year. The Escrow Agent shall report any interest or income earned on the Escrow Funds, if any, to the IRS or other taxing authority on IRS Form 1099.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Infrastructure & Energy Alternatives, Inc.)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Seller[***], whether or not such income was disbursed during a such calendar year.

Appears in 1 contract

Samples: Escrow Agreement (Dyadic International Inc)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property Amount shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Sellerthe Sellers, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Stock Purchase Agreement (Synalloy Corp)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property Amount (or any other amount held from time to time in the Escrow Account) shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerBuyer, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Agreement and Plan of Merger (United Rentals North America Inc)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Seller, whether or not such income was disbursed the Party receiving the Escrow Property pursuant to the terms of this Escrow Agreement during such the calendar yearyear in which the Escrow Property is disbursed.

Appears in 1 contract

Samples: Stock Purchase Agreement (Delek US Holdings, Inc.)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerSeller Parent, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Purchase Agreement (American Realty Capital Healthcare Trust III, Inc.)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property Amounts shall, as of the end of each calendar year and at such other times to the extent required by the Internal Revenue Service, be reported as having been earned by Seller, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Purchase Agreement (Keane Group, Inc.)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property Amount shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Sellerthe Controller, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Stock Purchase Agreement (Synalloy Corp)

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Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerNeostem, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Escrow Agreement (NeoStem, Inc.)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerPurchaser, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Escrow Agreement (Elephant Talk Communications Corp)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerMember Entities, fifty percent (50%) by each, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Escrow Agreement

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property Escrowed Funds shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Sellerthe Significant Shareholders in accordance with percentage ownership of Escrowed Funds as set forth in column (5) on the Schedule of Significant Shareholders, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Escrow Agreement (ABX Holdings, Inc.)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerSellers, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Asset Purchase Agreement (Nexeo Solutions Holdings, LLC)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Seller, the BFT Trustee whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Stock Purchase Agreement (Nexeo Solutions Holdings, LLC)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Seller, the JGB Holders whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Escrow Agreement (Ants Software Inc)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by US Seller, whether or not such income was disbursed during such calendar year.. Exhibit 7.1(l)

Appears in 1 contract

Samples: Escrow Agreement (Hurco Companies Inc)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerAcquiror, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Escrow Agreement (Novalere Holdings, LLC)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Sellerthe Company, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Escrow Agreement (Alfacell Corp)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by Sellerthe Stockholders, in accordance with their Pro Rata Shares which are set forth on Exhibit D hereto, whether or not such income was disbursed during such calendar year.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Lime Energy Co.)

Income Tax Allocation and Reporting. (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by SellerSellers, whether or not such income was disbursed during a such calendar year.

Appears in 1 contract

Samples: Stock Purchase Agreement (Martin Midstream Partners Lp)

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