Common use of Payment of Allocable Taxes Clause in Contracts

Payment of Allocable Taxes. (a) Within ten (10) days before the date that Distributing files the Distributing Consolidated Return for the taxable year ending May 31, 2005 (the “2005 Year”), Controlled shall pay (or shall cause the relevant Controlled Affiliate to pay) to Distributing an amount equal to the Controlled Separate Tax Liability for the 2005 Year, if any, minus any Taxes paid by or credited to Controlled or any Controlled Affiliate with respect to the 2005 Year (including estimated tax payments and any amounts for such Taxes reflected in the Intercompany Accounts). This Section 3.3(a) shall also apply with respect to the Distributing Consolidated Return for the portion of the taxable year ending May 31, 2006 (the “2006 Year”) that ends on the Distribution Date (the “Short Period”), applying the principles of Section 2.4.

Payment of Allocable Taxes. (a) Within ten (10) days before the date that Distributing files the Distributing Consolidated Return for the taxable year ending May 31, 2005 (the “2005 Year”), Controlled shall pay (or shall cause the relevant Controlled Affiliate to pay) to Distributing an amount equal to the Controlled Separate Tax Liability for the 2005 Year, if any, minus any Taxes taxes paid by or credited to Controlled or any Controlled Affiliate with respect to the 2005 Year (including estimated tax payments and any amounts for such Taxes taxes reflected in the Intercompany Accounts). This Section 3.3(a) shall also apply with respect to the Distributing Consolidated Return for the portion of the taxable year ending May 31, 2006 (the “2006 Year”) that ends on the Distribution Date (the “Short Period”)Date, applying the principles of Section 2.4.