Common use of Notification of Contests Clause in Contracts

Notification of Contests. Each of Buyer, on the one hand, and Parents, on the other hand (the “Recipient”), shall notify the chief tax officer (or other appropriate person) of Parents or Buyer, as the case may be, in writing within 15 days of receipt by the Recipient of written notice of any pending or threatened audits, adjustments or assessments (a “Tax Audit”) which are likely to affect the liability for Taxes of such other party. If the Recipient fails to give such prompt notice to the other party, it shall not be entitled to indemnification for any Taxes arising in connection with such Tax Audit to the extent that such failure to give notice adversely affects the other party’s right to participate in the Tax Audit.

Notification of Contests. Each of Buyer, on the one hand, and Parents, on the other hand (the “Recipient”"RECIPIENT"), shall notify the chief tax officer (or other appropriate person) of Parents or Buyer, as the case may be, in writing within 15 days of receipt by the Recipient of written notice of any pending or threatened audits, adjustments or assessments (a “Tax Audit”"TAX AUDIT") which are likely to affect the liability for Taxes of such other party. If the Recipient fails to give such prompt notice to the other party, it shall not be entitled to indemnification for any Taxes arising in connection with such Tax Audit to the extent that such failure to give notice adversely affects the other party’s 's right to participate in the Tax Audit.

Notification of Contests. Each of Buyer, on the one hand, and ParentsSeller, on the other hand (the “Recipient”), shall notify the chief tax officer (or other appropriate person) of Parents Seller or Buyer, as the case may be, in writing within 15 days of receipt by the Recipient of written notice of any pending or threatened audits, adjustments or assessments (a “Tax Audit”) which are likely to affect the liability for Taxes of such other party. If the Recipient fails to give such prompt notice to the other party, it shall not be entitled to indemnification for any Taxes arising in connection with such Tax Audit to the extent that if such failure to give notice adversely affects the other party’s right to participate in the Tax Audit.

Notification of Contests. Each After the date hereof, each of the Buyer, on the one hand, and Parentsthe Sellers, on the other hand (the “Recipient”), shall notify the chief tax officer (Sellers or other appropriate person) of Parents or the Buyer, as the case may be, in writing within 15 five days of receipt by the Recipient of written notice of any pending or threatened audits, adjustments adjustments, assessments or assessments other proceedings (a “Tax Audit”) which are likely to that may affect the liability for Taxes of such other party. If the Recipient fails to give such prompt notice to the other party, it shall not be entitled to indemnification for any Taxes arising in connection with such Tax Audit to the extent that if such failure to give notice adversely affects the other party’s right to participate in the Tax Audit.