Common use of SpinCo General Rule Clause in Contracts

SpinCo General Rule. Except as provided in Section 3.3(c), with respect to any Tax Return for a Pre-Distribution Period that SpinCo has (under Section 3.2) the obligation and right to prepare and file, or cause to be prepared and filed, such Tax Return shall be prepared in accordance with Past Practices used with respect to the Tax Returns in question (unless there is no reasonable basis for the use of such Past Practices), and to the extent any items are not covered by Past Practices (or in the event that there is no reasonable basis for the use of such Past Practices), in accordance with reasonable Tax accounting practices selected by SpinCo.

SpinCo General Rule. Except as provided in Section 3.3(c), with respect to any Tax Return for a Pre-Distribution Period that SpinCo has (under Section 3.2) the obligation and right to prepare and file, or cause to be prepared and filedfiled for a Pre-Distribution Period, under Section 3.2, such Tax Return shall be prepared in accordance with Past Practices used with respect to the Tax Returns in question (unless there is no reasonable basis for the use of such Past Practices), and to the extent any items are not covered by Past Practices (or in the event that there is no reasonable basis for the use of such Past Practices), in accordance with reasonable Tax accounting practices selected by SpinCo.