Use of Foreign Tax Credits by Hewlett-Packard Sample Clauses

Use of Foreign Tax Credits by Hewlett-Packard. To the --------------------------------------------- extent that Hewlett-Packard or a Hewlett-Packard Affiliate receives a Tax Benefit attributable to an increase in foreign tax credits by reason of any Japan Restructuring Tax, Hewlett-Packard shall pay Agilent forty percent (40%) of its Tax Benefit, to the extent that such credits relate to the Contemplated Japan Restructuring Tax funded by Hewlett-Packard under paragraph (a)(ii) of this Section 5.9; eighteen percent (18%) of its Tax Benefit, to the extent that such credits relate to an Additional Japan Restructuring Tax funded by Hewlett- Packard and Agilent under Section 5.1(b)(iii) of this Agreement; and one hundred percent (100%) of its Tax Benefit, to the extent that such credits relate to an Additional Japan Restructuring Tax funded entirely by Agilent under Section 5.1(b)(i) or (ii) of this Agreement. For purposes of this Section 5.9(b), Hewlett-Packard's Tax Benefit shall be determined first by measuring the incremental impact on Hewlett-Packard's Federal Income Tax liability (after taking into account the impact of all other Tax Items to Hewlett-Packard but without regard to any Tax Items relating to any Additional Japan Restructuring Taxes) solely as a result of any increase in foreign tax credits attributable to Contemplated Japan Restructuring Taxes, and then by measuring the incremental impact on Hewlett- Packard's Federal Income Tax liability (after taking into account any Tax Items relating to any Contemplated Japan Restructuring Taxes) solely as a result of any increase in foreign tax credits attributable to Additional Japan Restructuring Taxes. This Section 5.9(b) shall apply to a Tax Benefit with respect to Hewlett-Packard's liability on the Consolidated Return for the fiscal year ending October 31, 2000 only to the extent that such Tax Benefit is not attributable to foreign tax credits treated as used on the Pro Forma Agilent Consolidated Return for such period (such use determined without regard to any carryback of Japan Restructuring Taxes). Appendix F to this Agreement sets forth examples illustrating the intended application of this Section 5.9(b).
Sample 1
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Use of Foreign Tax Credits by Hewlett-Packard. To the extent --------------------------------------------- that Hewlett-Packard or a Hewlett-Packard Affiliate receives a Tax Benefit attributable to an increase in foreign tax credits (other than credits taken into account under paragraph (a)(i) of this Section 5.9) by reason of the Japan Restructuring Tax (such Tax Benefit determined by measuring the incremental impact on Hewlett-Packard's liability solely as a result of the Japan Restructuring Tax), Hewlett-Packard shall pay Agilent forty percent (40%) of its Tax Benefit, to the extent that such credits relate to the Contemplated Japan Restructuring Tax, and eighteen percent (18%) of its Tax Benefit, to the extent that such credits relate to an Additional Japan Restructuring Tax. The preceding sentence shall apply to a Tax Benefit with respect to Hewlett-Packard's liability on the Consolidated Return for the fiscal year ending October 31, 2000 only to the extent that such Tax Benefit is not attributable to foreign tax credits treated as used on the Pro Forma Agilent Consolidated Return for such period.
Sample 1

Related to Use of Foreign Tax Credits by Hewlett-Packard

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