Common use of Intercompany Matters Clause in Contracts

Intercompany Matters. As of immediately prior to the Spin-Off Date, all rights and Liabilities of, from or to any member of the Parent Group, on the one hand, and any member of the HY Group, on the other hand, will be netted against each other and the resulting balance will be cash settled as applicable, by Parent or HY, as the case may be, and all contracts between or among such parties will terminate, in each case other than under this Agreement or any of the other agreements or instruments contemplated hereby or any Liabilities arising therefrom. In the event any such intercompany amounts are identified following the Spin-Off Date that were not netted as contemplated by the preceding sentence, such amounts will be cash settled when they arise or are identified. In the event of any refund or credit relating to the HY Group or the Parent Group is received by the other group after the Spin-Off Date, such other group will provide the HY Group or Parent Group, as applicable, with the benefit of such refund or credit.

Intercompany Matters. As of immediately prior to the Spin-Off Date, all rights and Liabilities of, from or to any member of the Parent Group, on the one hand, and any member of the HY Group, on the other hand, will be netted against each other and the resulting balance will be cash settled as applicable, by Parent or HY, as the case may be, and all contracts between or among such parties will terminate, in each case other than under this Agreement or any of the other agreements or instruments contemplated hereby or any Liabilities arising therefrom. In the event any such intercompany amounts are identified following the Spin-Off Date that were not netted as contemplated by the preceding sentence, such amounts will be cash settled when they arise or are identified. In the event of any refund or credit relating to the HY Group or the Parent Group is received by the other group after the Spin-Off Date, such other 6 group will provide the HY Group or Parent Group, as applicable, with the benefit of such refund or credit. III.