Common use of Tax Detriment Clause in Contracts

Tax Detriment. Notwithstanding any effort or failure of the Settlement Fund Administrator and/or the parties hereto to treat the QSF as a “qualified settlement fund” within the meaning of Treas. Reg. § 1.468B-1 effective as of the date hereof, if Walgreens incurs any taxes or additional tax liability, interest, penalties or other tax-related losses of any kind (such tax liability, interest, penalties and/or losses hereinafter collectively referred to as “Tax Detriments”) resulting from income earned by the QSF, such Tax Detriment shall be paid out of the State Sub-Fund or the Abatement Accounts Sub-Fund of the QSF, as the State may direct, or in the absence of sufficient funds in these Sub-Funds or at the State’s option, by the State.

Tax Detriment. Notwithstanding any effort or failure of the Settlement Fund Administrator and/or the parties hereto to treat the QSF as a “qualified settlement fund” within the meaning of Treas. Reg. § 1.468B-1 effective as of the date hereof, if Walgreens CVS incurs any taxes or additional tax liability, interest, penalties or other tax-related losses of any kind (such tax liability, interest, penalties and/or losses hereinafter collectively referred to as “Tax Detriments”) resulting from income earned by the QSF, such Tax Detriment shall be paid out of the State Sub-Fund or the Abatement Accounts Sub-Fund of the QSF, as the State may direct, or in the absence of sufficient funds in these Sub-Funds or at the State’s option, by the State.