Common use of Interest on Intergroup Tax Allocation Payments Clause in Contracts

Interest on Intergroup Tax Allocation Payments. In the case of any payments to ICN required under paragraph (b) of this Section 5.1, RIBAPHARM shall also pay to ICN an amount of interest computed at the Prime Rate on the amount of the payment required based on the number of days from the applicable Payment Date until the date of RIBAPHARM's subsequent payment. In the case of any payments by ICN required under paragraph (b) of this Section 5.1, ICN shall also pay to RIBAPHARM an amount of interest computed at the Prime Rate on the amount of the payment required based on the number of days from the applicable Payment Date until the date of ICN's subsequent payment of such amount to RIBAPHARM.

Interest on Intergroup Tax Allocation Payments. In the case of any payments to ICN required under paragraph (b) of this Section 5.1, RIBAPHARM Ribapharm shall also pay to ICN an amount of interest computed at the Prime Rate on the amount of the payment required based on the number of days from the applicable Payment Date until the date of RIBAPHARMRibapharm's subsequent payment. In the case of any payments by ICN required under paragraph (b) of this Section 5.1, ICN shall also pay to RIBAPHARM Ribapharm an amount of interest computed at the Prime Rate on the amount of the payment required based on the number of days from the applicable Payment Date until the date of ICN's subsequent payment of such amount to RIBAPHARMRibapharm.

Interest on Intergroup Tax Allocation Payments. In the case of any payments to ICN required under paragraph (b) of this Section 5.1, RIBAPHARM shall also pay to ICN an amount of interest computed at the Prime Rate on the amount of the payment required based on the number of days from the applicable Payment Date until the date of RIBAPHARM's - 20 - ICN Tax Sharing Agreement subsequent payment. In the case of any payments by ICN required under paragraph (b) of this Section 5.1, ICN shall also pay to RIBAPHARM an amount of interest computed at the Prime Rate on the amount of the payment required based on the number of days from the applicable Payment Date until the date of ICN's subsequent payment of such amount to RIBAPHARM.