Examples of Weatherford Group in a sentence
For purpose of the calculations under this Agreement, any loss of Tax credits resulting from or attributable to the transfer of assets to Grant or any other member of the Grant Group in connection with the Spin-Off shall be ignored and all calculations shall be made as though all such tax credits were available for use by the Weatherford Group.
Except as otherwise provided in Paragraph 12 hereof, Weatherford shall not be obligated to pay Grant for any Tax credits of the Grant Group or any losses or deductions of the Grant Group used by the Weatherford Group to reduce its Federal income Tax liability or Federal taxable income for any Tax period ending on or before the Spin-Off Date.
For purposes of these computations, the allocation of Tax attributes to the Grant Group and absorption thereof by the Weatherford Group for each Tax period shall be determined in accordance with the Treasury Regulations under Section 1502 of the Code, applied in a manner consistent with practices and methods followed in reporting the Federal income Tax liability of the Weatherford Group for such Tax periods.
The expenses of administering the Plan shall be borne by the Weatherford Group.
Except as otherwise provided in Paragraph 5, any amounts that Grant shall be obligated to pay Weatherford pursuant to Paragraph 5 with respect to Tax periods of the Weatherford Group ending after the Spin-Off Date shall be paid within 30 days after filing of the Returns for such Tax periods.
In the event an amount otherwise payable by Grant to Weatherford is deferred pursuant to clause (ii) of the immediately preceding sentence, such amount shall be paid by Grant to Weatherford within 30 days after the filing of the Tax Return for the Tax period in which such Tax benefits of the Weatherford Group previously used would have been used.
Any amount payable by Grant to Weatherford pursuant to the immediately preceding sentence shall not be greater than the amount of Tax paid by Weatherford as a consequence of the Tax benefits of the Weatherford Group previously having been used to offset taxable income of the Grant Group.
Grant, at its expense and upon providing reasonable assurances to Weatherford of Granx'x xxxlity to pay any Taxes resulting from any such proposed adjustment, may contest such proposed adjustment; but in no event shall Grant be permitted to accept or offer any settlement or compromise that would require the settlement or compromise of issues relating to the Tax liabilities of members of the Weatherford Group other than the Grant Group.
In the event any deferred intercompany gain attributable to assets transferred to Grant or any other members of the Grant Group by other members of the Weatherford Group is recognized by the Weatherford Group by reason of the Spin-Off, such deferred intercompany gain, if any, shall be deemed to be gain of the Grant Group for its taxable year ending on the Spin-Off Date for purposes of all calculations under this Agreement.
Grant may, at its expense and only with Weatxxxxxxx'x xxxor consent, contest such proposed adjustments; but in no event shall Grant be permitted to accept or offer any settlement or compromise that would require the settlement or compromise of issues relating to the Tax liabilities of members of the Weatherford Group other than the Grant Group.