Payments for WPX Pro Forma Returns. (a) For each WPX Pro Forma Consolidated Return, WPX shall pay to Xxxxxxxx the amount of the Tax, if any, shown thereon. If the WPX Pro Forma Consolidated Return shows a credit or loss, Xxxxxxxx shall pay to WPX an amount equal to (i) any such credits plus (ii) any such losses multiplied by the highest marginal federal income tax rate applicable to corporations for the relevant Tax year. (b) For each WPX Combined Pro Forma Return, WPX shall pay to Xxxxxxxx the amount of the Tax, if any, shown thereon. If the WPX Pro Forma Combined Return shows a credit or loss, Xxxxxxxx shall pay to WPX an amount equal to (i) any such credits plus (ii) any such losses multiplied by the highest marginal Tax rate applicable thereto. (c) All payments required under this Section 2.4 shall be due no later than thirty days before the Payment Date of the related Tax Return, and shall include any interest, penalties and additions to Tax that would be due if such payments were made directly to the applicable Tax Authorities.
Appears in 5 contracts
Samples: Tax Sharing Agreement (WPX Energy, Inc.), Tax Sharing Agreement (WPX Energy, Inc.), Tax Sharing Agreement (WPX Energy, Inc.)
