Common use of Remittance of Refunds Clause in Contracts

Remittance of Refunds. If the Buyer or any Affiliate of the Buyer receives a refund of any Taxes attributable to a Pre-Closing Tax Period that the Sellers is responsible for hereunder, or if the Sellers or any Affiliate of the Sellers receives a refund of any Taxes attributable to a Post-Closing Tax Period that the Buyer is responsible for hereunder, the party receiving such refund shall, within thirty days after receipt of such refund, remit it to the party who has responsibility for such Taxes hereunder. For the purpose of this Section 9.11, the term "refund" shall include a reduction in Tax and the use of an overpayment as a credit or other tax offset, and receipt of a refund shall occur upon the filing of a return or an adjustment thereto using such reduction, overpayment or offset or upon the receipt of cash.

Remittance of Refunds. If the Buyer or any Affiliate of the Buyer receives a refund of any Taxes attributable to a Pre-Closing Tax Period that the Sellers Seller is responsible for hereunderhereunder (including as a result of its direct or indirect ownership interest in the Acquired Companies and the Partnership), or if the Sellers Seller or any Affiliate of the Sellers Seller receives a refund of any Taxes attributable to a Post-Closing Tax Period that the Buyer is responsible for hereunder, the party Party receiving such refund shall, within thirty (30) days after receipt of such refund, remit it to the party Party who has responsibility for such Taxes hereunder. For the purpose of this Section 9.119(n), the term "“refund" ” shall include a reduction in Tax and the use of an overpayment as a credit or other tax Tax offset, and receipt of a refund shall occur upon the filing of a return Tax Return or an adjustment thereto using such reduction, overpayment or offset or upon the receipt of cash.