Common use of Realization of Tax Benefits Clause in Contracts

Realization of Tax Benefits. (i) For purposes of this Section 4.3, a Tax Benefit shall be deemed to have been realized at the time any refund of Taxes is received or applied against other Taxes due, or at the time of filing of a Tax Return (including any Tax Return relating to estimated Taxes) on which a loss, deduction or credit is applied in reduction of Taxes which would otherwise be payable; provided, however, that where a party has other losses, deductions, credits or similar items available to it, such deductions, credits or similar items of such party may be applied prior to the use of any Timing Adjustment, Reorganization Tax Payment, or Deferred Compensation Deduction. (ii) The party in receipt of a Tax Benefit may, at its election, pay the amount of any Tax Benefit to D&B or Cognizant, as the case may be, rather than filing amended returns or otherwise reflecting adjustments or taking positions on its Tax Returns. If such an election is made, the party will be treated as having realized a Tax Benefit at the time it would have realized a Tax Benefit had it chosen to file amended returns or otherwise to reflect adjustments or to take positions on its Tax Returns.

Realization of Tax Benefits. (i) For purposes of this Section 4.3, a Tax Benefit shall be deemed to have been realized at the time any refund of Taxes is received or applied against other Taxes due, or at the time of filing of a Tax Return (including any Tax Return relating to estimated Taxes) on which a loss, deduction or credit is applied in reduction of Taxes which would otherwise be payable; provided, however, that where a party the NMR Group or any member thereof has other losses, deductions, credits or similar items available to it, such deductions, credits or similar items of such party may be applied prior to the use of any Timing Adjustment, adjustments relating to a Reorganization Tax Payment, Payment or any Deferred Compensation Deduction or Post- Distribution Expense Deduction. (ii) The party in receipt of a Tax Benefit Corporation may, at its election, pay the amount of any Tax Benefit to D&B or Cognizant, as the case may be, IMS HEALTH rather than filing amended returns or otherwise reflecting adjustments or taking positions on its Tax Returns. If such an election is made, the party Corporation will be treated as having realized a Tax Benefit at the time it would have realized a Tax Benefit had it chosen to file amended returns or otherwise to reflect adjustments or to take positions on its Tax Returns.

Realization of Tax Benefits. (i) For purposes of this Section 4.3, a Tax Benefit shall be deemed to have been realized at the time any refund of Taxes is received or applied against other Taxes due, or at the time of filing of a Tax Return (including any Tax Return relating to estimated Taxes) on which a loss, deduction or credit is applied in reduction of Taxes which would otherwise be payable; provided, however, that where a party has other losses, deductions, credits or similar items available to it, such deductions, credits or similar items of such party may be applied prior to the use of any Timing Adjustment, Reorganization Tax Payment, or Deferred Compensation Deduction. (ii) The party in receipt of a Tax Benefit may, at its election, pay the amount of any Tax Benefit to D&B or Cognizant, as the case may be, rather than filing amended returns or 15 15 otherwise reflecting adjustments or taking positions on its Tax Returns. If such an election is made, the party will be treated as having realized a Tax Benefit at the time it would have realized a Tax Benefit had it chosen to file amended returns or otherwise to reflect adjustments or to take positions on its Tax Returns.