Splitco Liabilities and Payments. For any Tax Year (or portion thereof), Splitco shall (i) be liable for the Taxes (determined without regard to Tax Benefits) allocated to it by this Section 2, reduced by any Tax Benefits allocated to Distributing or Splitco that are allowable under applicable Tax Law to reduce such Taxes, (ii) pay such Taxes, as so reduced, either to the applicable Tax Authority or to Distributing as required by Section 4, and (iii) pay Distributing for any Tax Benefits allocated to Distributing by this Section 2 that Splitco uses to reduce Taxes payable by it pursuant to clause (ii) of this Section 2.1(b).
Appears in 5 contracts
Samples: Tax Sharing Agreement, Tax Sharing Agreement (Gci Liberty, Inc.), Tax Sharing Agreement (General Communication Inc)
Splitco Liabilities and Payments. For any Tax Year Period (or portion thereof), Splitco shall (i) be liable for the Taxes (determined without regard to Tax Benefits) allocated to it by this Section 2, reduced by any Tax Benefits allocated to Distributing or Splitco that are allowable under applicable Tax Law to reduce such Taxes, (ii) pay such Taxes, as so reduced, either to the applicable Tax Authority or to Distributing as required by Section 4, and (iii) pay Distributing for any Tax Benefits allocated to Distributing by this Section 2 that Splitco uses to reduce Taxes payable by it Splitco pursuant to clause (ii) of this Section 2.1(b).
Appears in 4 contracts
Samples: Tax Sharing Agreement (Liberty Media Corp), Tax Sharing Agreement (Liberty Media Corp), Tax Sharing Agreement (Atlanta Braves Holdings, Inc.)
