Common use of Taxes Paid or Reserved Clause in Contracts

Taxes Paid or Reserved. All deficiencies in Taxes asserted or assessments made by any taxing authority have been fully paid or finally settled. The reserves for Taxes reflected in the GDSC Current Balance Sheet are adequate for payment of Taxes with respect to GDSC in respect of all periods ending on or before the date of the GDSC Current Balance Sheet. All Taxes which GDSC has been required to collect or withhold have been withheld or collected and, to the extent required, have been paid to the proper taxing authority.