Income Tax Allocation and Reporting. (a) The Issuer agrees 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 the Issuer, whether or not such income was disbursed during such calendar year.
Appears in 6 contracts
Samples: Escrow and Security Agreement (Consolidated Communications Holdings, Inc.), Escrow Agreement (Steel Dynamics Inc), Escrow Agreement (Constellation Brands, Inc.)
Income Tax Allocation and Reporting. (a) The Issuer agrees Maker and Purchaser 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 the IssuerMaker, whether or not such income was disbursed during such calendar year.
Appears in 1 contract
Samples: Escrow Agreement (Tribeworks Inc)
