Common use of Separate Tax Liability Clause in Contracts

Separate Tax Liability. Periodic computations shall be made of the federal income tax liability of AST, on a hypothetical separate return basis ("Separate Tax Liability"), for each Tax Year, or for any part of a Tax Year during which AST is included in the LNC Consolidated Group. Computations shall be made at least once per quarter to support the required payments of quarterly estimated taxes and shall also be made at the time of the original and extended due dates for the filing of the federal income tax return for each Tax Year. Such Separate Tax Liability shall be calculated as follows: a. AST shall be treated as a corporation which files a federal income tax return separate from the LNC Consolidated Group, except as otherwise provided in this Agreement. b. For purposes of this calculation, AST shall be treated as if it had never been included in the LNC Consolidated Group. c. Gains and losses on intercompany transactions shall be disregarded until such time as they are recognized in the consolidated federal income tax return of the LNC Consolidated Group. d. Income, gain, deductions, credits, and similar items of AST described in Treasury Regulation section 1.1552-1(a)(2)(ii) shall generally be taken into account in the manner specified in that subdivision. e. To the extent that AST is unable to avail itself of special rules applicable only to small corporations, lower tax rates applicable to part or all of the income of a single corporation, the exemption provided in Internal Revenue Code section 59A (applicable to the environmental tax) or any other similar item because it participates in the filing of the federal income tax return of the LNC Consolidated Group, AST shall not use such benefit in calculating its Separate Tax Liability. f. Income, gain, deductions, credits, and similar items of AST shall not be included to the extent attributable to a period commencing on or after the date that AST ceases to be includible in the LNC Consolidated Group. g. For each quarter of a Tax Year that AST has net operating losses, net capital losses, tax credits or any other tax benefits that have not been used to decrease AST's Separate Tax Liability in the current Tax Year ("Excess Tax Items") that can be used as hypothetical carry back items against prior hypothetical AST separate return Tax Years ("Carry Back Items"), AEIC shall reimburse AST for the use of such Carry Back Items at the rate AST would have been entitled to receive had such Carry Back Items actually been used in an AST claim for refund. h. To the extent that Excess Tax Items can ultimately be used as hypothetical carry forward items against future hypothetical AST Tax Years ("Carry Forward Items"), AST shall be entitled to use such Excess Tax Items to offset future years' income but will be required to reimburse AEIC to the extent that paragraph 2.c., below, applies.

Separate Tax Liability. Periodic computations shall be made of the federal income tax liability of ASTCIA, on a hypothetical separate return basis ("Separate Tax Liability"), for each Tax Year, or for any part of a Tax Year during which AST CIA is included in the LNC Consolidated Group. Computations shall be made at least once per quarter to support the required payments of quarterly estimated taxes and shall also be made at the time of the original and extended due dates for the filing of the federal income tax return for each Tax Year. Such Separate Tax Liability shall be calculated as follows: a. AST CIA shall be treated as a corporation which files a federal income tax return separate from the LNC Consolidated Group, except as otherwise provided in this Agreement.. 164 b. For purposes of this calculation, AST CIA shall be treated as if it had never been included in the LNC Consolidated Group. c. Gains and losses on intercompany transactions shall be disregarded until such time as they are recognized in the consolidated federal income tax return of the LNC Consolidated Group. . d. Income, gain, deductions, credits, and similar items of AST CIA described in Treasury Regulation section 1.1552-1(a)(2)(ii) shall generally be taken into account in the manner specified in that subdivision. e. To the extent that AST CIA is unable to avail itself of special rules applicable only to small corporations, lower tax rates applicable to part or all of the income of a single corporation, the exemption provided in Internal Revenue Code section 59A (applicable to the environmental tax) or any other similar item because it participates in the filing of the federal income tax return of the LNC Consolidated Group, AST CIA shall not use such benefit in calculating its Separate Tax Liability. . f. Income, gain, deductions, credits, and similar items of AST CIA shall not be included to the extent attributable to a period commencing on or after the date that AST CIA ceases to be includible in the LNC Consolidated Group. g. For each quarter of a Tax Year that AST CIA has net operating losses, net capital losses, tax credits or any other tax benefits that have not been used to decrease ASTCIA's Separate Tax Liability in the current Tax Year ("Excess Tax Items") that can be used as hypothetical carry back items against prior hypothetical AST CIA separate return Tax Years ("Carry Back Items"), AEIC ASIC shall reimburse AST CIA for the use of such Carry Back Items at the rate AST CIA would have been entitled to receive had such Carry Back Items actually been used in an AST a CIA claim for refund. h. To the extent that Excess Tax Items can ultimately be used as hypothetical carry forward items against future hypothetical AST Tax Years ("Carry Forward Items"), AST shall be entitled to use such Excess Tax Items to offset future years' income but will be required to reimburse AEIC to the extent that paragraph 2.c., below, applies.

Separate Tax Liability. Periodic computations shall be made of the federal income tax liability of ASTASLI, on a hypothetical separate return basis ("Separate Tax Liability"), for each Tax Year, or for any part of a Tax Year during which AST ASLI is included in the LNC Consolidated Group. Computations shall be made at least once per quarter to support the required payments of quarterly estimated taxes and shall also be made at the time of the original and extended due dates for the filing of the federal income tax return for each Tax Year. Such Separate Tax Liability shall be calculated as follows: a. AST ASLI shall be treated as a corporation which files a federal income tax return separate from the LNC Consolidated Group, except as otherwise provided in this Agreement. b. For purposes of this calculation, AST ASLI shall be treated as if it had never been included in the LNC Consolidated Group. c. Gains and losses on intercompany transactions shall be disregarded until such time as they are recognized in the consolidated federal income tax return of the LNC Consolidated Group. d. Income, gain, deductions, credits, and similar items of AST ASLI described in Treasury Regulation section 1.1552-1(a)(2)(ii) shall generally be taken into account in the manner specified in that subdivision. e. To the extent that AST ASLI is unable to avail itself of special rules applicable only to small corporations, lower tax rates applicable to part or all of the income of a single corporation, the exemption provided in Internal Revenue Code section 59A (applicable to the environmental tax) or any other similar item because it participates in the filing of the federal income tax return of the LNC Consolidated Group, AST ASLI shall not use such benefit in calculating its Separate Tax Liability. f. Income, gain, deductions, credits, and similar items of AST ASLI shall not be included to the extent attributable to a period commencing on or after the date that AST ASLI ceases to be includible in the LNC Consolidated Group. g. For each quarter of a Tax Year that AST ASLI has net operating losses, net capital losses, tax credits or any other tax benefits that have not been used to decrease ASTASLI's Separate Tax Liability in the current Tax Year ("Excess Tax Items") that can be used as hypothetical carry back items against prior hypothetical AST ASLI separate return Tax Years ("Carry Back Items"), AEIC ASIC shall reimburse AST ASLI for the use of such Carry Back Items at the rate AST ASLI would have been entitled to receive had such Carry Back Items actually been used in an AST a ASLI claim for refund. h. To the extent that Excess Tax Items can ultimately be used as hypothetical carry forward items against future hypothetical AST ASLI Tax Years ("Carry Forward Items"), AST ASLI shall be entitled to use such Excess Tax Items to offset future years' income but will be required to reimburse AEIC ASIC to the extent that paragraph 2.c., below, applies.

Separate Tax Liability. Periodic computations shall be made of the federal income tax liability of ASTthe ASFC Group, defined below, on a hypothetical separate return consolidated basis ("Separate Tax Liability"), ) for each Tax Year, or for any part of a Tax Year during which AST ASFC is included in the LNC Consolidated Group. Computations shall be made at least once per quarter to support the required payments of quarterly estimated taxes and shall also be made at the time of the original and extended due dates for the filing of the federal income tax return for each Tax Year. Such Separate Tax Liability shall be calculated as follows: a. AST ASFC shall be treated as a corporation which the common parent of an affiliated group that files a consolidated federal income tax return separate from including all subsidiaries of ASFC which are included in the LNC Consolidated Group (the "ASFC Group, except as otherwise provided in "). For purposes of this Agreement, the ASFC Group shall be treated as having constituted a consolidated group for five years or more. b. For purposes of this calculation, AST all members of the ASFC Group shall be treated as if it they had never been included in the LNC Consolidated Group. c. Gains and losses on intercompany transactions shall be disregarded until such time as they are recognized in the consolidated federal income tax return of the LNC Consolidated Group. d. Income, gain, deductions, credits, and similar items of AST the ASFC Group described in Treasury Regulation section 1.1552-1(a)(2)(ii) shall generally be taken into account in the manner specified in that subdivision. e. To the extent that AST any corporation in the ASFC Group is unable to avail itself of special rules applicable only to small corporations, lower tax rates applicable to part or all of the income of a single corporation, the exemption provided in Internal Revenue Code section 59A (applicable to the environmental tax) or any other similar item because it participates in the filing of the federal income tax return of the LNC Consolidated Group, AST the ASFC Group shall not use such benefit in calculating its Separate Tax Liability. f. Income, gain, deductions, credits, and similar items of AST any member of the ASFC Group shall not be included to the extent attributable to a period commencing on or after the date that AST member of the ASFC Group ceases to be includible in the LNC Consolidated Group. g. For each quarter of a Tax Year that AST the ASFC Group has net operating losses, net capital losses, tax credits or any other tax benefits that have not been used to decrease ASTthe ASFC Group's Separate Tax Liability in the current Tax Year ("Excess Tax Items") that can be used as hypothetical carry back items against prior hypothetical AST ASFC Group separate return Tax Years ("Carry Back Items"), AEIC LNC shall reimburse AST ASFC for the use of such Carry Back Items at the rate AST the ASFC Group would have been entitled to receive had such Carry Back Items actually been used in an AST ASFC Group claim for refund.. 101 h. To the extent that Excess Tax Items can ultimately be used as hypothetical carry forward items against future hypothetical AST ASFC Group Tax Years ("Carry Forward Items"), AST the ASFC Group shall be entitled to use such Excess Tax Items to offset future years' income but will be required to reimburse AEIC LNC to the extent that paragraph 2.c., below, applies.

Separate Tax Liability. Periodic computations shall be made of the federal income tax liability of ASTASL, on a hypothetical separate return basis ("Separate Tax Liability"), for each Tax Year, or for any part of a Tax Year during which AST ASL is included in the LNC Consolidated Group. Computations shall be made at least once per quarter to support the required payments of quarterly estimated taxes and shall also be made at the time of the original and extended due dates for the filing of the federal income tax return for each Tax Year. Such Separate Tax Liability shall be calculated as follows: a. AST ASL shall be treated as a corporation which files a federal income tax return separate from the LNC Consolidated Group, except as otherwise provided in this Agreement. b. For purposes of this calculation, AST ASL shall be treated as if it had never been included in the LNC Consolidated Group. c. Gains and losses on intercompany transactions shall be disregarded until such time as they are recognized in the consolidated federal income tax return of the LNC Consolidated Group. d. Income, gain, deductions, credits, and similar items of AST ASL described in Treasury Regulation section 1.1552-1(a)(2)(ii) shall generally be taken into account in the manner specified in that subdivision. e. To the extent that AST ASL is unable to avail itself of special rules applicable only to small corporations, lower tax rates applicable to part or all of the income of a single corporation, the exemption provided in Internal Revenue Code section 59A (applicable to the environmental tax) or any other similar item because it participates in the filing of the federal income tax return of the LNC Consolidated Group, AST ASL shall not use such benefit in calculating its Separate Tax Liability. f. Income, gain, deductions, credits, and similar items of AST ASL shall not be included to the extent attributable to a period commencing on or after the date that AST ASL ceases to be includible in the LNC Consolidated Group. g. For each quarter of a Tax Year that AST ASL has net operating losses, net capital losses, tax credits or any other tax benefits that have not been used to decrease ASTASL's Separate Tax Liability in the current Tax Year ("Excess Tax Items") that can be used as hypothetical carry back items against prior hypothetical AST ASL separate return Tax Years ("Carry Back Items"), AEIC ASIC shall reimburse AST ASL for the use of such Carry Back Items at the rate AST ASL would have been entitled to receive had such Carry Back Items actually been used in an AST ASL claim for refund. h. To the extent that Excess Tax Items can ultimately be used as hypothetical carry forward items against future hypothetical AST ASL Tax Years ("Carry Forward Items"), AST ASL shall be entitled to use such Excess Tax Items to offset future years' income but will be required to reimburse AEIC ASIC to the extent that paragraph 2.c., below, applies.

Separate Tax Liability. Periodic computations shall be made of the federal income tax liability of ASTLinsco, on a hypothetical separate return basis ("Separate Tax Liability"), for each Tax Year, or for any part of a Tax Year during which AST Linsco is included in the LNC Consolidated Group. Computations shall be made at least once per quarter to support the required payments of quarterly estimated taxes and shall also be made at the time of the original and extended due dates for the filing of the federal income tax return for each Tax Year. Such Separate Tax Liability shall be calculated as follows: a. AST Linsco shall be treated as a corporation which files a federal income tax return separate from the LNC Consolidated Group, except as otherwise provided in this Agreement. b. For purposes of this calculation, AST Linsco shall be treated as if it had never been included in the LNC Consolidated Group.. 155 c. Gains and losses on intercompany transactions shall be disregarded until such time as they are recognized in the consolidated federal income tax return of the LNC Consolidated Group. d. Income, gain, deductions, credits, and similar items of AST Linsco described in Treasury Regulation section 1.1552-1(a)(2)(ii) shall generally be taken into account in the manner specified in that subdivision. e. To the extent that AST Linsco is unable to avail itself of special rules applicable only to small corporations, lower tax rates applicable to part or all of the income of a single corporation, the exemption provided in Internal Revenue Code section 59A (applicable to the environmental tax) or any other similar item because it participates in the filing of the federal income tax return of the LNC Consolidated Group, AST Linsco shall not use such benefit in calculating its Separate Tax Liability. f. Income, gain, deductions, credits, and similar items of AST Linsco shall not be included to the extent attributable to a period commencing on or after the date that AST Linsco ceases to be includible in the LNC Consolidated Group. g. For each quarter of a Tax Year that AST Linsco has net operating losses, net capital losses, tax credits or any other tax benefits that have not been used to decrease ASTLinsco's Separate Tax Liability in the current Tax Year ("Excess Tax Items") that can be used as hypothetical carry back items against prior hypothetical AST Linsco separate return Tax Years ("Carry Back Items"), AEIC LNC shall reimburse AST Linsco for the use of such Carry Back Items at the rate AST Linsco would have been entitled to receive had such Carry Back Items actually been used in an AST a Linsco claim for refund. h. To the extent that Excess Tax Items can ultimately be used as hypothetical carry forward items against future hypothetical AST Linsco Tax Years ("Carry Forward Items"), AST Linsco shall be entitled to use such Excess Tax Items to offset future years' income but will be required to reimburse AEIC LNC to the extent that paragraph 2.c., below, applies.

Separate Tax Liability. Periodic computations shall be made of the federal income tax liability of ASTASIC, on a hypothetical separate return basis ("Separate Tax Liability"), for each Tax Year, or for any part of a Tax Year during which AST ASIC is included in the LNC Consolidated Group. Computations shall be made at least once per quarter to support the required payments of quarterly estimated taxes and shall also be made at the time of the original and extended due dates for the filing of the federal income tax return for each Tax Year. Such Separate Tax Liability shall be calculated as follows: a. AST ASIC shall be treated as a corporation which files a federal income tax return separate from the LNC Consolidated Group, except as otherwise provided in this Agreement.. 110 b. For purposes of this calculation, AST ASIC shall be treated as if it had never been included in the LNC Consolidated Group. c. Gains and losses on intercompany transactions shall be disregarded until such time as they are recognized in the consolidated federal income tax return of the LNC Consolidated Group. d. Income, gain, deductions, credits, and similar items of AST ASIC described in Treasury Regulation section 1.1552-1(a)(2)(ii) shall generally be taken into account in the manner specified in that subdivision. e. To the extent that AST ASIC is unable to avail itself of special rules applicable only to small corporations, lower tax rates applicable to part or all of the income of a single corporation, the exemption provided in Internal Revenue Code section 59A (applicable to the environmental tax) or any other similar item because it participates in the filing of the federal income tax return of the LNC Consolidated Group, AST ASIC shall not use such benefit in calculating its Separate Tax Liability. f. Income, gain, deductions, credits, and similar items of AST ASIC shall not be included to the extent attributable to a period commencing on or after the date that AST ASIC ceases to be includible in the LNC Consolidated Group. g. For each quarter of a Tax Year that AST ASIC has net operating losses, net capital losses, tax credits or any other tax benefits that have not been used to decrease ASTASIC's Separate Tax Liability in the current Tax Year ("Excess Tax Items") that can be used as hypothetical carry back items against prior hypothetical AST ASIC separate return Tax Years ("Carry Back Items"), AEIC ASFC shall reimburse AST ASIC for the use of such Carry Back Items at the rate AST ASIC would have been entitled to receive had such Carry Back Items actually been used in an AST ASIC claim for refund. h. To the extent that Excess Tax Items can ultimately be used as hypothetical carry forward items against future hypothetical AST ASIC Tax Years ("Carry Forward Items"), AST ASIC shall be entitled to use such Excess Tax Items to offset future years' income but will be required to reimburse AEIC ASFC to the extent that paragraph 2.c., below, applies.

Separate Tax Liability. Periodic computations shall be made of the federal income tax liability of ASTASP, on a hypothetical separate return basis ("Separate Tax Liability"), for each Tax Year, or for any part of a Tax Year during which AST ASP is included in the LNC Consolidated Group. Computations shall be made at least once per quarter to support the required payments of quarterly estimated taxes and shall also be made at the time of the original and extended due dates for the filing of the federal income tax return for each Tax Year. Such Separate Tax Liability shall be calculated as follows: a. AST ASP shall be treated as a corporation which files a federal income tax return separate from the LNC Consolidated Group, except as otherwise provided in this Agreement. b. For purposes of this calculation, AST ASP shall be treated as if it had never been included in the LNC Consolidated Group. c. Gains and losses on intercompany transactions shall be disregarded until such time as they are recognized in the consolidated federal income tax return of the LNC Consolidated Group. d. Income, gain, deductions, credits, and similar items of AST ASP described in Treasury Regulation section 1.1552-1(a)(2)(ii) shall generally be taken into account in the manner specified in that subdivision. e. To the extent that AST ASP is unable to avail itself of special rules applicable only to small corporations, lower tax rates applicable to part or all of the income of a single corporation, the exemption provided in Internal Revenue Code section 59A (applicable to the environmental tax) or any other similar item because it participates in the filing of the federal income tax return of the LNC Consolidated Group, AST ASP shall not use such benefit in calculating its Separate Tax Liability. f. Income, gain, deductions, credits, and similar items of AST ASP shall not be included to the extent attributable to a period commencing on or after the date that AST ASP ceases to be includible in the LNC Consolidated Group. g. For each quarter of a Tax Year that AST ASP has net operating losses, net capital losses, tax credits or any other tax benefits that have not been used to decrease ASTASP's Separate Tax Liability in the current Tax Year ("Excess Tax Items") that can be used as hypothetical carry back items against prior hypothetical AST ASP separate return Tax Years ("Carry Back Items"), AEIC ASIC shall reimburse AST ASP for the use of such Carry Back Items at the rate AST ASP would have been entitled to receive had such Carry Back Items actually been used in an AST ASP claim for refund. h. To the extent that Excess Tax Items can ultimately be used as hypothetical carry forward items against future hypothetical AST ASP Tax Years ("Carry Forward Items"), AST ASP shall be entitled to use such Excess Tax Items to offset future years' income but will be required to reimburse AEIC ASIC to the extent that paragraph 2.c., below, applies.

Separate Tax Liability. Periodic computations shall be made of the federal income tax liability of ASTICI, on a hypothetical separate return basis ("Separate Tax Liability"), for each Tax Year, or for any part of a Tax Year during which AST ICI is included in the LNC Consolidated Group. Computations shall be made at least once per quarter to support the required payments of quarterly estimated taxes and shall also be made at the time of the original and extended due dates for the filing of the federal income tax return for each Tax Year. Such Separate Tax Liability shall be calculated as follows: a. AST ICI shall be treated as a corporation which files a federal income tax return separate from the LNC Consolidated Group, except as otherwise provided in this Agreement.. 146 b. For purposes of this calculation, AST ICI shall be treated as if it had never been included in the LNC Consolidated Group. c. Gains and losses on intercompany transactions shall be disregarded until such time as they are recognized in the consolidated federal income tax return of the LNC Consolidated Group. d. Income, gain, deductions, credits, and similar items of AST ICI described in Treasury Regulation section 1.1552-1(a)(2)(ii) shall generally be taken into account in the manner specified in that subdivision. e. To the extent that AST ICI is unable to avail itself of special rules applicable only to small corporations, lower tax rates applicable to part or all of the income of a single corporation, the exemption provided in Internal Revenue Code section 59A (applicable to the environmental tax) or any other similar item because it participates in the filing of the federal income tax return of the LNC Consolidated Group, AST ICI shall not use such benefit in calculating its Separate Tax Liability. f. Income, gain, deductions, credits, and similar items of AST ICI shall not be included to the extent attributable to a period commencing on or after the date that AST ICI ceases to be includible in the LNC Consolidated Group. g. For each quarter of a Tax Year that AST ICI has net operating losses, net capital losses, tax credits or any other tax benefits that have not been used to decrease ASTICI's Separate Tax Liability in the current Tax Year ("Excess Tax Items") that can be used as hypothetical carry back items against prior hypothetical AST ICI separate return Tax Years ("Carry Back Items"), AEIC ASIC shall reimburse AST ICI for the use of such Carry Back Items at the rate AST ICI would have been entitled to receive had such Carry Back Items actually been used in an AST ICI claim for refund. h. To the extent that Excess Tax Items can ultimately be used as hypothetical carry forward items against future hypothetical AST ICI Tax Years ("Carry Forward Items"), AST ICI shall be entitled to use such Excess Tax Items to offset future years' income but will be required to reimburse AEIC ASIC to the extent that paragraph 2.c., below, applies.

Separate Tax Liability. Periodic computations shall be made of the federal income tax liability of ASTAEIC, on a hypothetical separate return basis ("Separate Tax Liability"), for each Tax Year, or for any part of a Tax Year during which AST AEIC is included in the LNC Consolidated Group. Computations shall be made at least once per quarter to support the required payments of quarterly estimated taxes and shall also be made at the time of the original and extended due dates for the filing of the federal income tax return for each Tax Year. Such Separate Tax Liability shall be calculated as follows: a. AST AEIC shall be treated as a corporation which files a federal income tax return separate from the LNC Consolidated Group, except as otherwise provided in this Agreement.. 119 b. For purposes of this calculation, AST AEIC shall be treated as if it had never been included in the LNC Consolidated Group. c. Gains and losses on intercompany transactions shall be disregarded until such time as they are recognized in the consolidated federal income tax return of the LNC Consolidated Group. d. Income, gain, deductions, credits, and similar items of AST AEIC described in Treasury Regulation section 1.1552-1(a)(2)(ii) shall generally be taken into account in the manner specified in that subdivision. e. To the extent that AST AEIC is unable to avail itself of special rules applicable only to small corporations, lower tax rates applicable to part or all of the income of a single corporation, the exemption provided in Internal Revenue Code section 59A (applicable to the environmental tax) or any other similar item because it participates in the filing of the federal income tax return of the LNC Consolidated Group, AST AEIC shall not use such benefit in calculating its Separate Tax Liability. . f. Income, gain, deductions, credits, and similar items of AST AEIC shall not be included to the extent attributable to a period commencing on or after the date that AST AEIC ceases to be includible in the LNC Consolidated Group. g. For each quarter of a Tax Year that AST AEIC has net operating losses, net capital losses, tax credits or any other tax benefits that have not been used to decrease ASTAEIC's Separate Tax Liability in the current Tax Year ("Excess Tax Items") that can be used as hypothetical carry back items against prior hypothetical AST AEIC separate return Tax Years ("Carry Back Items"), AEIC ASIC shall reimburse AST AEIC for the use of such Carry Back Items at the rate AST AEIC would have been entitled to receive had such Carry Back Items actually been used in an AST AEIC claim for refund. h. To the extent that Excess Tax Items can ultimately be used as hypothetical carry forward items against future hypothetical AST AEIC Tax Years ("Carry Forward Items"), AST AEIC shall be entitled to use such Excess Tax Items to offset future years' income but will be required to reimburse AEIC ASIC to the extent that paragraph 2.c., below, applies.

Separate Tax Liability. For any Tax Year in which CSLIC is included in a consolidated federal income tax return with GLAC, GLAC’s federal income tax liability shall be allocated between CSLIC and the other members of the GLAC Consolidated Group as follows: Periodic computations shall be made of the federal income tax liability of ASTCSLIC, on a hypothetical separate return basis ("“Separate Tax Liability"”), for each Tax Year, or for any part of a Tax Year during which AST CSLIC is included in the LNC Consolidated Groupa consolidated federal income tax return with GLAC. Computations shall be made at least once per quarter to support the required payments of quarterly estimated taxes and shall also be made at the time of the original and extended due dates for the filing of the federal income tax return for each Tax Year. a. A Member’s portion of the tax liability, estimated tax or refund of tax of the group (the “Tax Allocation”) shall be the tax liability, estimated tax or refund of tax of the group, multiplied by a fraction, the numerator of which is the separate return liability, estimated tax or refund of tax of such Member, and the denominator of which is the sum of the separate return tax liabilities, estimated taxes or refund of taxes of all the Members. b. A Member’s Tax Allocation is increased by 100% of the excess, if any, of the Member’s separate return tax liability, estimated tax or refund of taxes over the Member’s Tax Allocation determined under paragraph 2(a). c. For purposes of this Paragraph 2, CSLIC shall be treated as a corporation which files a separate federal income tax return except as otherwise provided in this agreement. Such Separate Tax Liability shall be calculated as follows: a. AST shall be treated as a corporation which files a federal income tax return separate from the LNC Consolidated Group, except as otherwise provided in this Agreement. b. For purposes of this calculation, AST shall be treated as if it had never been included in the LNC Consolidated Group. c. i. Gains and losses on intercompany transactions (as defined in Treasury Regulation Section 1.1502-13(b)(1) shall be disregarded until such time as they are recognized in the consolidated federal Consolidated Return. ii. Transactions with respect to stock, bonds, or other obligations of Members shall be reflected when they are recognized in the Consolidated Return. iii. Excess losses (as defined in Treasury Regulation Section 1.1502-19) shall be included in income tax return when recognized in the Consolidated Return. iv. For purposes of determining the amount of the LNC Member’s depreciation deduction pursuant to Section 167 of the Code, a transfer of property from one Member to another Member during the year shall be disregarded; v. A dividend distributed by one Member to another Member during the year shall not be taken into account in computing the deductions for dividends received and paid; vi. Basis shall be determined pursuant to Treasury Regulation Sections 1.1502-31 and 1.1502-32; and, earnings and profits shall be determined under Treasury Regulation Sections 1.1502-33 and 1.1502-1(a)(2)(ii); vii. Treasury Regulation Section 1.1502-3(f)(2) shall apply; viii. Without duplication of any item described in subparagraphs (i) through (vi) above, in the case of any item of income, gain, deduction, loss or credit that is computed or subject to a limitation only on a consolidated basis, including but not limited to, charitable contributions, capital losses, foreign tax credits, research and experimentation credit and gains and losses pursuant to Section 131 of the Code (“Consolidated Items”), each such Consolidated Item shall be taken into account by Member only if, and to the extent that a Consolidated Item is taken into account in the tax year and to the extent it actually affects the amount of the tax liability of the Affiliated Group; and ix. In the case of the treatment of an item subject to an election made only on a consolidated basis, the treatment will be governed by the election made by Parent with respect to the Consolidated Return. d. x. Income, gaingains, deductions, credits, and similar items of AST CSLIC described in Treasury Regulation section 1.1552-1(a)(2)(ii) shall generally be taken into account in the manner specified in that subdivisionsection. e. To the extent that AST is unable to avail itself of xi. In calculating its Separate Tax Liability, CSLIC shall not use as a benefit: 1. Any special rules applicable only to small corporations, lower 2. Lower tax rates applicable to part or all of the income of a single corporation, the exemption provided in Internal Revenue Code section 59A (applicable to the environmental tax) or any other or 3. Any similar item because it CSLIC participates in the filing of the a consolidated federal income tax return of the LNC Consolidated Group, AST shall not use such benefit in calculating its Separate Tax Liabilityreturn. f. Income, gain, deductions, credits, and similar items of AST shall not be included to the extent attributable to a period commencing on or after the date that AST ceases to be includible in the LNC Consolidated Group. g. For each quarter of a Tax Year that AST has net operating losses, net capital losses, tax credits or any other tax benefits that have not been used to decrease AST's Separate Tax Liability in the current Tax Year ("Excess Tax Items") that can be used as hypothetical carry back items against prior hypothetical AST separate return Tax Years ("Carry Back Items"), AEIC shall reimburse AST for the use of such Carry Back Items at the rate AST would have been entitled to receive had such Carry Back Items actually been used in an AST claim for refund. h. To the extent that Excess Tax Items can ultimately be used as hypothetical carry forward items against future hypothetical AST Tax Years ("Carry Forward Items"), AST shall be entitled to use such Excess Tax Items to offset future years' income but will be required to reimburse AEIC to the extent that paragraph 2.c., below, applies.