Common use of Timing Differences and Reverse Timing Differences Clause in Contracts

Timing Differences and Reverse Timing Differences. (a) If as a result of an adjustment pursuant to a Final Determination to any Taxes for which a member of the Altisource Group is liable hereunder (or Tax Attribute of a member of the Altisource Group) a member of the Residential Group could realize a current or future Tax Benefit that it could not realize but for such adjustment (determined on a with and without basis), or if as a result of an adjustment pursuant to a Final Determination to any Taxes for which a member of the Residential Group is liable hereunder (or Tax Attribute of a member of the Residential Group) a member of the Altisource Group could realize a current or future Tax Benefit that it could not realize but for such adjustment (determined on a with and without basis), Residential or Altisource, as the case may be, shall make a payment to either Altisource or Residential, as appropriate, within 30 days following the date of a written notice and demand from Altisource or Residential, as appropriate, for payment of the amount due, accompanied by evidence of such adjustment and describing in reasonable detail the particulars relating thereto. Any payment required under this Section 5.02(a) shall include interest on such payment computed at the Base Rate based on the number of days from the date of such written notice to the date of payment under this Section 5.02(a). In the event that Altisource or Residential disagrees with any such calculation described in this Section 5.02(a), Altisource or Residential shall so notify the other Company in writing within 30 days of receiving the written calculation set forth above in this Section 5.02(a). Altisource and Residential shall endeavor in good faith to resolve such disagreement.

Timing Differences and Reverse Timing Differences. (a) If as a result of an adjustment pursuant to a Final Determination to any Taxes for which a member of the Altisource OFC Group is liable hereunder (or Tax Attribute of a member of the Altisource OFC Group) a member of the Residential Altisource Group could realize a current or future Tax Benefit that it could not realize but for such adjustment (determined on a with and without basis), or if as a result of an adjustment pursuant to a Final Determination to any Taxes for which a member of the Residential Altisource Group is liable hereunder (or Tax Attribute of a member of the Residential Altisource Group) a member of the Altisource OFC Group could realize a current or future Tax Benefit that it could not realize but for such adjustment (determined on a with and without basis), Residential Altisource or AltisourceOFC, as the case may be, shall make a payment to either Altisource OFC or ResidentialAltisource, as appropriate, within 30 days following the date of a written notice and demand from Altisource OFC or ResidentialAltisource, as appropriate, for payment of the amount due, accompanied by evidence of such adjustment and describing in reasonable detail the particulars relating thereto. Any payment required under this Section 5.02(a6.02(a) shall include interest on such payment computed at the Base Rate based on the number of days from the date of such written notice to the date of payment under this Section 5.02(a6.02(a). In the event that OFC or Altisource or Residential disagrees with any such calculation described in this Section 5.02(a6.02(a), OFC or Altisource or Residential shall so notify the other Company in writing within 30 days of receiving the written calculation set forth above in this Section 5.02(a6.02(a). OFC and Altisource and Residential shall endeavor in good faith to resolve such disagreement.