Common use of Tax and Other Liabilities Clause in Contracts

Tax and Other Liabilities. Universal Filtration has no undisclosed liability of any nature, accrued or contingent, including without limitation liabilities for federal, state or local taxes and liabilities to customers or suppliers, other than the following: i. Liabilities for which full provision has been made on the financial statements of Universal Filtration ii. Other liabilities arising since the last Universal Filtration financial statement in the ordinary course of business. Without limiting the generality of the foregoing, the amounts set up as provision for taxes on the last Universal Filtration financial statement are sufficient for all accrued and unpaid taxes of Universal Filtration.