Common use of Allocation Election Clause in Contracts

Allocation Election. The Company will elect to allocate the items described in section 1362(e)(2)(A) of the Code pursuant to section 1362(e)(3) of the Code under "normal tax accounting rules," and the Stockholder will consent to such election and will provide the Company with the statement of consent described in section 1.1362-6(b) of the Treasury Regulations.

Appears in 1 contract

Sources: Tax Indemnification Agreement (MTC Technologies Inc)

Allocation Election. The Company will shall elect to allocate the items described in section 1362(e)(2)(A) of the Code pursuant to section 1362(e)(3) of the Code under "normal tax accounting rules," and the Stockholder will Stockholders shall consent to such election and will shall provide the Company with the statement of consent described in section 1.1362-6(b) of the Treasury Regulations.

Appears in 1 contract

Sources: Tax Indemnification Agreement (Technical Consumer Products Inc)