Common use of Notification of Contests Clause in Contracts

Notification of Contests. Each of Purchaser, on the one hand, and Seller, on the other hand (the "Recipient"), shall notify the other party in writing within thirty (30) days of receipt by the Recipient of written notice of any pending or threatened audits, adjustments or assessments relating to Taxes (a "Tax Audit") which may affect the liability for Taxes of such other party. If the Recipient fails to give such written notice to the other party, the Recipient shall not be entitled to indemnification for any Taxes arising in connection with such Tax Audit to the extent such failure to give notice affects the other party's ability to participate in the Tax Audit or increases the other party's liability for Taxes;