Common use of Settling Tax Payable Accounts Clause in Contracts

Settling Tax Payable Accounts. All payments pursuant to Articles II or III between Journal and Journal Spinco that are made after the date of this Agreement and prior to the Distribution Date shall be made through an increase or decrease in intercompany accounts between Journal and Journal Spinco. On the business day immediately preceding the Distribution Date, Journal Spinco and Journal shall cooperate to (i) forecast (based on the most accurate and complete information then available) the total amount of all payments that, under Article II (not including this Section 2.02(d)) and under Article III, remain to be made with respect to the taxable year beginning December 29, 2014 and prior taxable years, and (ii) arrange to have all such forecasted payments made on such day through an increase or decrease in intercompany accounts between Journal and Journal Spinco. At the close of the business day immediately preceding the Distribution Date, Journal and Journal Spinco shall settle all intercompany account obligations then existing with respect to Taxes for all Affiliation Years and all Combined Years as follows: (i) any account obligations of Journal Spinco that are owned by Journal shall be netted against any account obligations of Journal that are owned by Journal Spinco; (ii) if the net remaining account obligation is owed by Journal Spinco to Journal, then this account obligation shall be transferred on such day by Journal to Journal Spinco as a contribution to capital; and (ii) if the net remaining account obligation is owed by Journal to Journal Spinco, then this account obligation shall be transferred on such day by Journal Spinco to Journal as a distribution. Such settlement shall not be deemed to affect the treatment of the prior increases and decreases in the intercompany accounts described above in this Section 2.02(d) as being payments for purposes of this Agreement.

Settling Tax Payable Accounts. All payments pursuant to Articles II or III between Journal Scripps and Journal Scripps Spinco that are made after the date of this Agreement and prior to the Distribution Date shall be made through an increase or decrease in intercompany accounts between Journal Scripps and Journal Scripps Spinco. On the business day immediately preceding the Distribution Date, Journal Scripps Spinco and Journal Scripps shall cooperate to (i) forecast (based on the most accurate and complete information then available) the total amount of all payments that, under Article II (not including this Section 2.02(d)) and under Article III, remain to be made with respect to the taxable year beginning December 29January 1, 2014 2015 and prior taxable years, and (ii) arrange to have all such forecasted payments made on such day through an increase or decrease in intercompany accounts between Journal Scripps and Journal Scripps Spinco. At the close of the business day immediately preceding the Distribution Date, Journal Scripps and Journal Scripps Spinco shall settle all intercompany account obligations then existing with respect to Taxes for all Affiliation Years and all Combined Years as follows: (i) any account obligations of Journal Scripps Spinco that are owned by Journal Scripps shall be netted against any account obligations of Journal Scripps that are owned by Journal Scripps Spinco; (ii) if the net remaining account obligation is owed by Journal Scripps Spinco to JournalScripps, then this account obligation shall be transferred on such day by Journal Scripps to Journal Scripps Spinco as a contribution to capital; and (ii) if the net remaining account obligation is owed by Journal Scripps to Journal Scripps Spinco, then this account obligation shall be transferred on such day by Journal Scripps Spinco to Journal Scripps as a distribution. Such settlement shall not be deemed to affect the treatment of the prior increases and decreases in the intercompany accounts described above in this Section 2.02(d) as being payments for purposes of this Agreement.