Tax Reporting and Allocation of Consideration. (a) Effective as of the Closing, Seller and Purchaser acknowledge and agree that Seller will be responsible for and will perform all Tax withholding, payment and reporting duties with respect to any wages and other compensation paid by Seller and its Subsidiaries to any Business Employee prior to or on the Closing Date and Purchaser will be responsible for and will perform all Tax withholding, payment and reporting duties with respect to any wages and other compensation paid by Purchaser after the Closing Date to any Business Employee hired by Purchaser.
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Samples: Registration Rights Agreement (Cypress Semiconductor Corp /De/), Agreement for the Purchase and Sale of Assets (Cypress Semiconductor Corp /De/), Agreement for the Purchase And (MoSys, Inc.)
Tax Reporting and Allocation of Consideration. (a) Effective as of the Closing, Seller and Purchaser Buyer acknowledge and agree that (i) Seller will be responsible for and will perform all Tax withholding, payment and reporting duties with respect to any wages and other compensation paid by Seller and its Subsidiaries to any Business Employee in connection with the operation or conduct of the Business prior to or on the Closing Date and Purchaser (ii) Buyer will be responsible for and will perform all Tax withholding, payment and reporting duties with respect to any wages and other compensation paid by Purchaser to any Transferred Employee in connection with the operation or conduct of the Business after the Closing Date to any Business Employee hired by PurchaserDate.
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