Common use of Net Operating Losses Clause in Contracts

Net Operating Losses. In the case of a Deconsolidation Event, notwithstanding any other provision of this Agreement, VMware hereby expressly agrees to elect (under section 172(b)(3) of the Code and, to the extent feasible, any similar provision of any state, local or non-U.S. Tax law, including section 1.1502-21T(b)(3) of the Treasury Regulations) to relinquish any right to carryback net operating losses to any Pre-Deconsolidation Periods of Dell Technologies (in which event no payment shall be due from Dell Technologies to VMware in respect of such net operating losses).

Appears in 5 contracts

Samples: Tax Sharing Agreement (Vmware, Inc.), Consent and Support Agreement (Dell Technologies Inc), Consent and Support Agreement (Vmware, Inc.)

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Net Operating Losses. In the case of a Deconsolidation Event, notwithstanding any other provision of this Agreement, VMware hereby expressly agrees to elect (under section 172(b)(3) of the Code and, to the extent feasible, any similar provision of any state, local or non-U.S. Tax law, including section 1.1502-21T(b)(3) of the Treasury Regulations) to relinquish any right to carryback carry back net operating losses to any Pre-Deconsolidation Periods of Dell Technologies (in which event no payment shall be due from Dell Technologies to VMware in respect of such net operating losses).

Appears in 3 contracts

Samples: Separation and Distribution Agreement (Dell Technologies Inc.), Tax Matters Agreement (Vmware, Inc.), Separation and Distribution Agreement (Vmware, Inc.)

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Net Operating Losses. In the case of a Deconsolidation Event, notwithstanding any other provision of this Agreement, VMware hereby expressly agrees to elect (under section 172(b)(3) of the Code and, to the extent feasible, any similar provision of any state, local or non-U.S. Tax law, including section 1.1502-21T(b)(3) of the Treasury Regulations) to relinquish any right to carryback net operating losses to any Pre-Deconsolidation Periods of Dell Technologies EMC (in which event no payment shall be due from Dell Technologies EMC to VMware in respect of such net operating losses).

Appears in 3 contracts

Samples: Tax Sharing Agreement, Tax Sharing Agreement (Vmware, Inc.), Tax Sharing Agreement (Vmware, Inc.)

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