Reporting of Income. The Escrow Agent shall report to the Internal Revenue Service, as of each calendar year-end, and to the Purchaser and Seller, as applicable, all income earned from the investment of any sum held in the Escrow Account as and to the extent required under the provisions of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the "Code").
Appears in 2 contracts
Samples: Asset Purchase Agreement (Kaydon Corp), Real Estate Purchase Agreement (Kaydon Corp)
Reporting of Income. The Escrow Agent shall report to the Internal Revenue ServiceService (the “IRS”), as of each calendar year-end, and to the Purchaser and Seller, as applicable, all income earned from the investment of any sum held in the Escrow Account against Seller, as and to the extent required under the provisions of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the "“Code"”).
Appears in 2 contracts
Samples: Asset Purchase Agreement, Assignment and Assumption Agreement (Kemet Corp)
Reporting of Income. The Escrow Agent shall report to the Internal Revenue Service, as of each calendar year-end, and to the Purchaser and Seller, as applicable, all income Interest earned from the investment of any sum held in the any Escrow Account as the income of Sellers’ Representative (which, as among the Sellers, shall be borne in accordance with each Seller’s Fully Diluted Ownership Percentage), as and to the extent required under the provisions of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the "“Code"”).
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Reporting of Income. The Escrow Agent shall report to the Internal Revenue Service, as of each calendar year-end, and to the Purchaser and SellerCanfxxxx Xxxhnologies, as applicable, all income earned from the investment of any sum held in the Escrow Account as and to the extent required under the provisions of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the "Code").
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Reporting of Income. The Escrow Agent shall report to the Internal Revenue ServiceService (the “IRS”), as of each calendar year-end, and to the Purchaser and Seller, as applicable, Seller all income earned from the investment of any sum held in the Escrow Account against the Seller, as and to the extent required under the provisions of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the "“Code"”).
Appears in 1 contract
Samples: License Agreement (Media Sciences International Inc)
Reporting of Income. The Escrow Agent shall report to the Internal Revenue Service, as of each calendar year-end, and to the Purchaser and Seller, as applicable, DYAX all income earned from the investment of any sum held in the Escrow Account Property, as and to the extent required under the provisions of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the "“Code"”).
Appears in 1 contract
Samples: Purchase Agreement (Dyax Corp)
Reporting of Income. The Escrow Agent shall report to the Internal Revenue Service, as of each calendar year-end, and to the Purchaser and SellerSellers' Representative, as applicable, all income earned from the investment of any sum held in the Escrow Account as and to the extent required under the provisions of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the "Code").
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Reporting of Income. The Escrow Agent shall report to the Internal Revenue Service, as of each calendar year-end, and to the Purchaser and Seller, as applicableOblas, all income earned from the investment of any sum held in the Escrow Account Fund against Oblas, as and to the extent required under the provisions of the Internal Revenue Code of 1986, as 1986,as amended, and the regulations promulgated thereunder (the "Code").
Appears in 1 contract
Samples: Termination Agreement and Release (Crosspoint Foods Corp)
Reporting of Income. The Escrow Agent shall report to the Internal Revenue Service, as of each calendar year-end, and to the Purchaser and Seller, as applicable, Owners’ Representative all income earned from the investment of any sum held in the Escrow Account Fund, as and to the extent required under the provisions of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the "“Code"”).
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Reporting of Income. The Escrow Agent shall report to the Internal Revenue ServiceService (the “IRS”), as of each calendar year-end, and to the Purchaser and Seller, as applicable, all Buyer income earned from the investment of any sum held in the Escrow Account against the Buyer, as and to the extent required under the provisions of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the "“Code"”).
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Reporting of Income. The Escrow Agent shall report to the Internal Revenue Service, as of each calendar year-year- end, and to the Purchaser and Seller, as applicable, Sellers all income earned from the investment of any sum held in the Escrow Account Account, as and to the extent required under the provisions of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the "Code").
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