Common use of Tax Reserves Clause in Contracts

Tax Reserves. The amount of Rocky Mountain I's liability for unpaid Taxes for all periods ending on or before the date of this Agreement does not, in the aggregate, exceed the amount of the current liability accruals for Taxes (excluding reserves for deferred Taxes) as of the date of this Agreement, and the amount of Rocky Mountain I's liability for unpaid Taxes for all periods ending on or before the Closing Date shall not, in the aggregate, exceed the amount of the current liability accruals for Taxes (excluding reserves for deferred Taxes) as such accruals shall be reflected on the balance sheet of Rocky Mountain I as of the Closing Date.

Tax Reserves. The amount of Rocky Mountain III's liability for unpaid Taxes for all periods ending on or before the date of this Agreement does not, in the aggregate, exceed the amount of the current liability accruals for Taxes (excluding reserves for deferred Taxes) as of the date of this Agreement, and the amount of Rocky Mountain III 's liability for unpaid Taxes for all periods ending on or before the Closing Date shall not, in the aggregate, exceed the amount of the current liability accruals for Taxes (excluding reserves for deferred Taxes) as such accruals shall be reflected on the balance sheet of Rocky Mountain I II as of the Closing Date.