Common use of Tax Refunds and Tax Benefits Clause in Contracts

Tax Refunds and Tax Benefits. Any Tax refunds that are received by Purchaser or APC, and any amounts credited against Tax to which Purchaser or APC become entitled, that relate to Tax periods or portions thereof ending on or before the Closing Date shall be for the account of Seller, and Purchaser shall pay over to Seller any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against any Tax by a taxing authority to the Purchaser or APC of any amount accrued as of the Closing Date, Purchaser shall pay such amount to Seller within fifteen (15) days after receipt or entitlement thereto.