Common use of Refunds of Taxes and Tax Benefits Clause in Contracts

Refunds of Taxes and Tax Benefits. (i) Realty shall be entitled to any refund of Taxes and any Tax Benefits realized as a result of a Final Determination with respect to all Tax Returns filed by Realty pursuant to Section 2(a)(i). Marketing shall be entitled to any refund with respect to all Tax Returns filed by Marketing pursuant to Section 2(a)(ii). Any such refunds attributable to a Straddle Period shall be allocated between the Pre-Closing Straddle Period and Post- Closing Straddle Period on a basis consistent with the method used to allocate the Tax liability for such Straddle Period. With respect to Straddle Period Tax Returns prepared by Marketing pursuant to Section 2(a)(ii), Realty shall be entitled to any refund attributable to a Pre-Closing Straddle Period. (ii) If Realty or any Realty Member receives a Tax refund or Tax Benefit to which Marketing or any Marketing Member is entitled pursuant to this Agreement, Realty shall pay (in accordance with Section 4) the amount of such Tax refund or Tax Benefit to Marketing within fourteen (14) days of receipt thereof. (iii) Except as otherwise provided in this Agreement, if Marketing or any Marketing Member receives a Tax refund or Tax Benefit to which Realty or any Realty Member is entitled pursuant to this Agreement, Marketing shall pay (in accordance with Section 4) the amount of such Tax refund or Tax Benefit (including any interest received thereon) to Realty within fourteen (14) days of receipt thereof.

Refunds of Taxes and Tax Benefits. (i) Realty shall be entitled to any refund of Taxes and any Tax Benefits realized as a result of a Final Determination with respect to all Tax Returns filed by Realty pursuant to Section 2(a)(i). Marketing shall be entitled to any refund with respect to all Tax Returns filed by Marketing pursuant to Section 2(a)(ii). Any such refunds attributable to a Straddle Period shall be allocated between the Pre-Closing Straddle Period and Post- Post-Closing Straddle Period on a basis consistent with the method used to allocate the Tax liability for such Straddle Period. With respect to Straddle Period Tax Returns prepared by Marketing pursuant to Section 2(a)(ii), Realty shall be entitled to any refund attributable to a Pre-Closing Straddle Period. (ii) If Realty or any Realty Member receives a Tax refund or Tax Benefit to which Marketing or any Marketing Member is entitled pursuant to this Agreement, Realty shall pay (in accordance with Section 4) the amount of such Tax refund or Tax Benefit to Marketing within fourteen (14) days of receipt thereof. (iii) Except as otherwise provided in this Agreement, if Marketing or any Marketing Member receives a Tax refund or Tax Benefit to which Realty or any Realty Member is entitled pursuant to this Agreement, Marketing shall pay (in accordance with Section 4) the amount of such Tax refund or Tax Benefit (including any interest received thereon) to Realty within fourteen (14) days of receipt thereof.

Refunds of Taxes and Tax Benefits. (i) Realty Culbro shall be entitled to any refund of Taxes and any Tax Benefits realized as a result of a Final Determination with respect to all Tax Returns filed by Realty Culbro pursuant to Section 2(a)(i). Marketing Realty shall be entitled to any refund with respect to all Tax Returns filed by Marketing Realty pursuant to Section 2(a)(ii). Any such refunds attributable to a Straddle Period shall be allocated between the Pre-Closing Straddle Period and Post- Post-Closing Straddle Period on a basis consistent with the method used to allocate the Tax liability for such Straddle Period. With respect to Straddle Period Tax Returns prepared by Marketing Realty pursuant to Section 2(a)(ii), Realty Culbro shall be entitled to any refund attributable to a Pre-Closing Straddle Period. Notwithstanding the foregoing, if any refund of Taxes with respect to Tax Returns filed by Culbro pursuant to Section 2(a)(i) or a Pre-Closing Straddle Period is attributable to a payment of Taxes by Realty under Section 3(b), Realty shall be entitled to such refund of Taxes. (ii) If any Culbro Member receives a Tax refund or Tax Benefit to which any Realty Member is entitled pursuant to this Agreement, Culbro shall pay (in accordance with Section 4) the amount of such Tax refund or Tax Benefit to Realty within thirty (30) days of receipt thereof. (iii) Except as otherwise provided in this Agreement, if any Realty Member receives a Tax refund or Tax Benefit to which Marketing or any Marketing Culbro Member is entitled pursuant to this Agreement, Realty shall pay (in accordance with Section 4) the amount of such Tax refund or Tax Benefit to Marketing within fourteen (14) days of receipt thereof. (iii) Except as otherwise provided in this Agreement, if Marketing or any Marketing Member receives a Tax refund or Tax Benefit to which Realty or any Realty Member is entitled pursuant to this Agreement, Marketing shall pay (in accordance with Section 4) the amount of such Tax refund or Tax Benefit (including any interest received thereon) to Realty Culbro within fourteen thirty (1430) days of receipt thereof.