Common use of Pre-Distribution Period and Straddle Period Tax Returns Clause in Contracts

Pre-Distribution Period and Straddle Period Tax Returns. All Tax Returns required to be filed for Pre-Distribution Periods or Straddle Periods, shall be: (1) prepared and filed by ICN, in the case of any Consolidated Income Tax Return; and (2) in all other cases, prepared and filed, or caused to be prepared and filed, by the Company to which such Tax Return relates. Ribapharm shall, for each Tax Period or portion thereof for which Ribapharm or a member of the Ribapharm Group is included in a Tax Return described in clause (1) of the preceding sentence, provide ICN with (i) a true and correct pro forma tax return for the Ribapharm Group together with an accompanying computation of Tax liability of the Group prepared in accordance with the Stand Alone Method, (ii) separate pro forma tax returns for each member of the Ribapharm Group together with accompanying computations of the separate tax return Tax liabilities of each member of the Group, and (iii) a reconciliation of book income to federal taxable income for each member of the Ribapharm Group. Ribapharm hereby agrees to use its best efforts to provide ICN with such returns and computations no later than the first day of the sixth month following the end of the period to which such returns and computations relate, but in any event shall provide such returns and computations to ICN no later than the fifteenth day of the sixth month following the end of the period to which such returns and computations relate. Ribapharm, in preparing the above mentioned pro forma tax returns for its Group, shall not consider or give effect to any (i) net operating loss carryover or carryback, (ii) capital loss carryover or carryback, (iii) excess charitable deduction carryover, (iv) excess tax carryover or carryback, or (v) other similar carryback or carryback item.

Pre-Distribution Period and Straddle Period Tax Returns. All ------------------------------------------------------- Income Tax Returns required to be filed for Pre-Distribution Periods or Straddle Periods, shall be: (1i) prepared and filed by ICNNDC, in the case of any Consolidated or Combined Income Tax Return; and (2ii) in all other cases, prepared and filed, or caused to be prepared and filed, by the Company to which such Tax Return relatesrelates in all other cases. Ribapharm Newco shall, for each Tax Period or portion thereof for which Ribapharm Newco or a member of the Ribapharm Newco Group is included in a Tax Return described in clause (1i) of the preceding sentence, provide ICN NDC with (iA) a true and correct pro forma tax return Tax Return for the Ribapharm Newco Group together with an accompanying computation of Tax liability of the Group prepared in accordance with the Stand Alone Book-Tax Method, (iiB) separate pro forma tax returns Tax Returns for each member of the Ribapharm Newco Group together with accompanying computations of the separate tax return Tax Return Tax liabilities of each member of the Group, and (iiiC) a reconciliation of book income to federal Federal taxable income for each member of the Ribapharm Newco Group. Ribapharm Newco hereby agrees to use its best efforts to provide ICN NDC with such returns and computations no later than the first day of the sixth month following the end of the period to which such returns and computations relate, but in any event shall provide such returns and computations to ICN NDC no later than the fifteenth day of the sixth month following the end of the period to which such returns and computations relate. RibapharmNewco, in preparing the above mentioned pro forma tax returns Tax Returns for its Group, shall not consider or give effect to any (i) net operating loss carryover or carryback, (ii) capital loss carryover or carryback, (iii) excess charitable deduction carryover, (iv) excess tax carryover or carryback, or (v) other similar carryback or carryback item.

Pre-Distribution Period and Straddle Period Tax Returns. All Tax Returns required to be filed for Pre-Distribution Periods or Straddle Periods, shall be: (1) prepared and filed by ICN, in the case of any Consolidated or Combined Income Tax Return; and and (2) in all other cases, prepared and filed, or caused to be prepared and filed, by the Company to which such Tax Return relates. Ribapharm RIBAPHARM shall, for each Tax Period or portion thereof for which Ribapharm RIBAPHARM or a member of the Ribapharm RIBAPHARM Group is included in a Tax Return described in clause (1) of the preceding sentence, provide ICN with (i) a true and correct pro forma tax return for the Ribapharm RIBAPHARM Group together with an accompanying computation of Tax liability of the Group prepared in accordance with the Stand Alone Method, (ii) separate pro forma tax returns for each member of the Ribapharm RIBAPHARM Group together with accompanying computations of the separate tax return Tax liabilities of each member of the Group, and (iii) a reconciliation of book income to federal taxable income for each member of the Ribapharm RIBAPHARM Group. Ribapharm RIBAPHARM hereby agrees to use its best efforts to provide ICN with such returns and computations no later than the first day of the sixth month following the end of the period to which such returns and computations relate, but in any event shall provide such returns and computations to ICN no later than the fifteenth day of the sixth month following the end of the period to which such returns and computations relate. RibapharmRIBAPHARM, in preparing the above mentioned pro forma tax returns for its Group, shall not consider or give effect to any (i) net operating loss carryover or carryback, (ii) capital loss carryover or carryback, (iii) excess charitable deduction carryover, (iv) excess tax carryover or carryback, or (v) other similar carryback or carryback item.

Pre-Distribution Period and Straddle Period Tax Returns. All Income Tax Returns required to be filed for Pre-Distribution Periods or Straddle Periods, shall be: (1i) prepared and filed by ICNNDC, in the case of any Consolidated or Combined Income Tax Return; and (2ii) in all other cases, prepared and filed, or caused to be prepared and filed, by the Company to which such Tax Return relatesrelates in all other cases. Ribapharm Newco shall, for each Tax Period or portion thereof for which Ribapharm Newco or a member of the Ribapharm Newco Group is included in a Tax Return described in clause (1i) of the preceding sentence, provide ICN NDC with (iA) a true and correct pro forma tax return Tax Return for the Ribapharm Newco Group together with an accompanying computation of Tax liability of the Group prepared in accordance with the Stand Alone Book-Tax Method, (iiB) separate pro forma tax returns Tax Returns for each member of the Ribapharm Newco Group together with accompanying computations of the separate tax return Tax Return Tax liabilities of each member of the Group, and (iiiC) a reconciliation of book income to federal Federal taxable income for each member of the Ribapharm Newco Group. Ribapharm Newco hereby agrees to use its best efforts to provide ICN NDC with such returns and computations no later than the first day of the sixth month following the end of the period to which such returns and computations relate, but in any event shall provide such returns and computations to ICN NDC no later than the fifteenth day of the sixth month following the end of the period to which such returns and computations relate. RibapharmNewco, in preparing the above mentioned pro forma tax returns Tax Returns for its Group, shall not consider or give effect to any (i) net operating loss carryover or carryback, (ii) capital loss carryover or carryback, (iii) excess charitable deduction carryover, (iv) excess tax carryover or carryback, or (v) other similar carryback or carryback item.

Pre-Distribution Period and Straddle Period Tax Returns. All Tax Returns required to be filed for Pre-Distribution Periods or Straddle Periods, shall be: (1) prepared and filed by ICN, in the case of any Consolidated or Combined Income Tax Return; and (2) in all other cases, prepared and filed, or caused to be prepared and filed, by the Company to which such Tax Return relatesrelates in all other cases. Ribapharm RIBAPHARM shall, for each Tax Period or portion thereof for which Ribapharm RIBAPHARM or a member of the Ribapharm RIBAPHARM Group is included in a Tax Return described in clause (1) of the preceding sentence, provide ICN with (i) a true and correct pro forma tax return for the Ribapharm RIBAPHARM Group together with an accompanying computation of Tax liability of the Group -13- 16 prepared in accordance with the Stand Alone Method, (ii) separate pro forma tax returns for each member of the Ribapharm RIBAPHARM Group together with accompanying computations of the separate tax return Tax liabilities of each member of the Group, and (iii) a reconciliation of book income to federal taxable income for each member of the Ribapharm RIBAPHARM Group. Ribapharm RIBAPHARM hereby agrees to use its best efforts to provide ICN with such returns and computations no later than the first day of the sixth month following the end of the period to which such returns and computations relate, but in any event shall provide such returns and computations to ICN no later than the fifteenth day of the sixth month following the end of the period to which such returns and computations relate. RibapharmRIBAPHARM, in preparing the above mentioned pro forma tax returns for its Group, shall not consider or give effect to any (i) net operating loss carryover or carryback, (ii) capital loss carryover or carryback, (iii) excess charitable deduction carryover, (iv) excess tax carryover or carryback, or (v) other similar carryback or carryback item.

Pre-Distribution Period and Straddle Period Tax Returns. All Income Tax Returns required to be filed for Pre-Distribution Periods or Straddle Periods, shall be: (1) prepared and filed by ICNCabot, in the case of any Consolidated or Combined Income Tax Return; and (2) in all other cases, prepared and filed, or caused to be prepared and filed, by the Company to which such Tax Return relatesrelates in all other cases. Ribapharm CMC shall, for each Tax Period or portion thereof for which Ribapharm CMC or a member of the Ribapharm CMC Group is included in a Tax Return described in clause (1) of the preceding sentence, provide ICN Cabot with (i) a true and correct pro forma tax return for the Ribapharm CMC Group together with an accompanying computation of Tax liability of the Group prepared in accordance with the Stand Alone Method, (ii) separate pro forma tax returns for each member of the Ribapharm CMC Group together with accompanying computations of the separate tax return Tax liabilities of each member of the Group, and (iii) a reconciliation of book income to federal taxable income for each member of the Ribapharm CMC Group. Ribapharm CMC hereby agrees to use its best efforts to provide ICN Cabot with such returns and computations no later than the first day of the sixth month following the end of the period to which such returns and computations relate, but in any event shall provide such returns and computations to ICN Cabot no later than the fifteenth day of the sixth month following the end of the period to which such returns and computations relate. RibapharmCMC, in preparing the above mentioned pro forma tax returns for its Group, shall not consider or give effect to any (i) net operating loss carryover or carryback, (ii) capital loss carryover or carryback, (iii) excess charitable deduction carryover, (iv) excess tax carryover or carryback, or (v) other similar carryback or carryback item.