Post-Closing Tax Liabilities. The unpaid Taxes of EIS (i) did not, as of the Closing Date, exceed the reserve for Tax Liability (rather than any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the face of the Financial Statements and (ii) do not exceed that reserve as adjusted for passage of time through the Closing Date in accordance with the past custom and practice of EIS in filing its past Tax Returns. Except as disclosed in Schedule 3.16(c), there exists no proposed tax assessment or deficiency against EIS. Since the date of the Financial Statements, EIS has not incurred any liability for Taxes arising from extraordinary gains or losses, as that term is used in GAAP, outside the Ordinary Course of Business consistent with past custom and practice.
Post-Closing Tax Liabilities. The unpaid Taxes of the Corporations do not, as of the Closing Date, exceed the reserve for Tax Liability (rather than any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the face of the Interim Consolidated Balance Sheet. Except as disclosed in Schedule 4.17, since December 31, 2004, neither Corporation has received notice of any proposed tax assessment or deficiency against either Corporation. Since the date of the Interim Consolidated Balance Sheet, the Corporations have not incurred any liability for Taxes arising from extraordinary gains or losses, as that term is used in Canadian GAAP.
Post-Closing Tax Liabilities. The unpaid Taxes of the Company (i) did not, as of the Closing Date, exceed the reserve for Tax Liability (rather than any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the face of the Interim Balance Sheet and (ii) do not exceed that reserve as adjusted for passage of time through the Closing Date in accordance with the past custom and practice of the Company in filing its past Tax Returns. Except as disclosed in Schedule 4.17(c), there exists no proposed tax assessment or deficiency against the Company. Since the date of the Interim Balance Sheet, the Company has not incurred any liability for Taxes arising from extraordinary gains or losses, as that term is used in GAAP, outside the Ordinary Course of Business consistent with past custom and practice.
Post-Closing Tax Liabilities. The unpaid Taxes of CARNRITE (i) did not, as of the Closing Date, exceed the reserve for Tax Liability (rather than any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the face of the Financial Statements and (ii) do not exceed that reserve as adjusted for passage of time through the Closing Date in accordance with the past custom and practice of CARNRITE in filing its past Tax Returns. Except as disclosed in Schedule 3.16(c), there exists no proposed tax assessment or deficiency against CARNRITE. Since the date of the Financial Statements, CARNRITE has not incurred any liability for Taxes arising from extraordinary gains or losses, as that term is used in GAAP, outside the Ordinary Course of Business consistent with past custom and practice.
Post-Closing Tax Liabilities. The unpaid Taxes of the Acquired Entities do not, as of the Closing Date, exceed the reserve for Tax Liability (rather than any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the face of the Interim Balance Sheet. Except as disclosed in Schedule 4.17(c), since December 31, 2002, no Acquired Entity has received notice of any proposed tax assessment or deficiency against any Acquired Entity. Since the date of the Interim Balance Sheet, the Acquired Entities have not incurred any liability for Taxes arising from extraordinary gains or losses, as that term is used in GAAP, outside the Ordinary Course of Business consistent with past custom and practice.
