Payment Upon Filing Return. At least three (3) business days before the day that Journal files the Journal Consolidated Return for the taxable year beginning on December 29, 2014, Journal shall determine the amount of the 2015 Tax Liability, and the amount of any 2015 Excess Journal Group Benefits. Journal Spinco shall pay to Journal or Journal shall pay to Journal Spinco, as the case may be, the difference between (i) the 2015 Tax Liability and (ii) (A) the sum of the payments previously made by Journal Spinco to Journal with respect to the 2015 Tax Liability (including any payments in the nature of installment estimated payments with respect to the 2015 Tax Liability) reduced (to and below zero) by (B) the sum of any payments previously made or to be made by Journal to Journal Spinco in respect of any 2015 Excess Journal Group Benefits. Any such payment by Journal or by Journal Spinco is due within five (5) business days after the filing of the Journal Consolidated Return for the 2015 Taxable Year.
Appears in 2 contracts
Sources: Tax Matters Agreement (Journal Communications Inc), Tax Matters Agreement (Scripps E W Co /De)