Common use of Interest Under This Agreement Clause in Contracts

Interest Under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the Tax Benefit to the indemnitee, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 to take into account any associated Tax Benefit to the indemnitor or increase in Tax to the indemnitee.

Appears in 7 contracts

Samples: Distribution Agreement (Pactiv Corp), Tax Sharing Agreement (General Semiconductor Inc), Tenneco Distribution Agreement (Tenneco Packaging Inc)

AutoNDA by SimpleDocs

Interest Under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the indemnitee with respect to such Tax Benefit to the indemniteeBenefit, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 12.2 to take into account any associated Tax Benefit to the indemnitor or increase in Tax to the indemnitee.

Appears in 5 contracts

Samples: Tax Sharing Agreement (Ribapharm Inc), Tax Sharing Agreement (Ribapharm Inc), Tax Sharing Agreement (Cabot Microelectronics Corp)

Interest Under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the Tax Benefit to the indemnitee, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the interest payment shall not be adjusted under Section 14.02 13.2 to take into account any associated Tax Benefit to the indemnitor or increase in Tax to the indemnitee.

Appears in 5 contracts

Samples: Tax Sharing Agreement (Dover Downs Entertainment Inc), Tax Sharing Agreement (Marine Products Corp), Tax Sharing Agreement (Marine Products Corp)

Interest Under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the Tax Benefit to the indemnitee, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 to take into account any associated Tax Benefit to the indemnitor or increase in Tax to the indemnitee. Section 15.

Appears in 4 contracts

Samples: Tax Sharing Agreement (Tenneco Inc /De), Tax Sharing Agreement (Newport News Shipbuilding Inc), Tax Sharing Agreement (Newport News Shipbuilding Inc)

Interest Under This Agreement. Anything herein to the contrary ----------------------------- notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the Tax Benefit to the indemnitee, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 13.02 to take into account any associated Tax Benefit benefit to the indemnitor or increase in Tax to the indemnitee.

Appears in 3 contracts

Samples: Tax Sharing Agreement (Varian Inc), Tax Sharing Agreement (Varian Semiconductor Equipment Associates Inc), Tax Sharing Agreement (Varian Associates Inc /De/)

Interest Under This Agreement. Anything herein to the ----------------------------- contrary notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Tax to a Tax Taxing Authority to the date that the indemnitor reimbursed the indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the indemnitee with respect to such Tax Benefit to the indemniteeBenefit, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 12.2 to take into account any associated Tax Benefit to the indemnitor or increase in Tax to the indemnitee.

Appears in 2 contracts

Samples: Tax Sharing and Indemnification Agreement (Global Payments Inc), Global Payments Inc

Interest Under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemniteeIndemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the Tax Benefit to the indemnitee, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible includable in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 14.2 to take into account any associated Tax Benefit to the indemnitor or increase in Tax to the indemnitee.

Appears in 2 contracts

Samples: Tax Indemnification and Allocation Agreement (Daisytek International Corporation /De/), Tax Indemnification and Allocation Agreement (Pfsweb Inc)

Interest Under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the Tax Benefit to the indemnitee, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the interest payment shall not be adjusted under Section 14.02 14.2 to take into account any associated Tax Benefit to the indemnitor or increase in Tax to the indemnitee.

Appears in 1 contract

Samples: Tax Sharing Agreement (Anc Rental Corp)

Interest Under This Agreement. Anything herein to the contrary notwithstandingnotwithstand ing, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the Tax Benefit to the indemnitee, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 to take into account any associated Tax Benefit to the indemnitor or increase in Tax to the indemnitee.

Appears in 1 contract

Samples: Tax Sharing Agreement (Tenneco Automotive Inc)

AutoNDA by SimpleDocs

Interest Under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the Tax Benefit to the indemnitee, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 14.2 to take into account any associated Tax Benefit to the indemnitor or increase in Tax to the indemnitee.

Appears in 1 contract

Samples: Indemnification and Allocation Agreement (Republic Services Inc)

Interest Under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Income Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Income Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the indemnitee with respect to such Tax Benefit to the indemniteeBenefit, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 10.2 to take into account any associated Tax Benefit to the indemnitor or increase in Income Tax to the indemnitee.

Appears in 1 contract

Samples: Sharing Agreement (Computer Network Technology Corp)

Interest Under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Income Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Income Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the indemnitee with respect to such Tax Benefit to the indemniteeBenefit, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 to take into account any associated Tax Benefit to the indemnitor or increase in Tax to the indemnitee.10.2 to

Appears in 1 contract

Samples: Sharing Agreement (Inrange Technologies Corp)

Interest Under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company ("indemnitorIndemnitor") makes a payment of interest to another Company ("indemniteeIndemnitee") under this Agreement with respect to the period from the date that the indemnitee Indemnitee made a payment of Tax to a Tax Authority to the date that the indemnitor Indemnitor reimbursed the indemnitee Indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor Indemnitor received a Tax Benefit to the date indemnitor Indemnitor paid the Tax Benefit to the indemniteeIndemnitee, the interest payment shall be treated as interest expense to the indemnitor Indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee Indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 12.02 to take into account any associated Tax Benefit to the indemnitor Indemnitor or increase in Tax to the indemniteeIndemnitee.

Appears in 1 contract

Samples: Tax Matters Agreement (Us Neurosurgical Inc)

Interest Under This Agreement. Anything herein to the contrary notwithstanding, to the extent one Company ("indemnitor") makes a payment of interest to another Company ("indemnitee") under this Agreement with respect to the period from the date that the indemnitee made a payment of Tax to a Tax Authority to the date that the indemnitor reimbursed the indemnitee for such Tax payment, or with respect to the period from the date that the indemnitor received a Tax Benefit to the date indemnitor paid the Tax Benefit to the indemnitee, the interest payment shall be treated as interest expense to the indemnitor (deductible to the extent provided by law) and as interest income by the indemnitee (includible in income to the extent provided by law). The amount of the payment shall not be adjusted under Section 14.02 13.02 to take into account any associated Tax Benefit to the indemnitor or increase in Tax to the indemnitee.

Appears in 1 contract

Samples: Tax Sharing Agreement (Propel Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!