Payments Net of Tax Benefit Actually Realized. All amounts required to be paid by one Party to another pursuant to this Agreement or the Separation and Distribution Agreement shall be reduced by the Tax Benefit Actually Realized by the Indemnified Party or its Subsidiaries in the taxable year the payment is made or any prior taxable year.
Appears in 3 contracts
Sources: Tax Sharing Agreement (Covidien Ltd.), Tax Sharing Agreement (Covidien Ltd.), Tax Sharing Agreement (Tyco Electronics Ltd.)
Payments Net of Tax Benefit Actually Realized. All amounts required to be paid by one Party to another pursuant to this Agreement or the Separation and Distribution Agreement shall be reduced by the Tax Benefit Actually Realized by the Indemnified Party or its Subsidiaries in the taxable year that the payment is made or any prior taxable yearevent occurs that gives rise to the indemnification obligation.
Appears in 3 contracts
Sources: Tax Sharing Agreement (Tyco International LTD /Ber/), Tax Sharing Agreement (Covidien Ltd.), Tax Sharing Agreement (Tyco Electronics Ltd.)
Payments Net of Tax Benefit Actually Realized. All amounts required to be paid by one Party to another pursuant to this Agreement, the Distribution Agreement or the Separation and Distribution Judgment Sharing Agreement shall be reduced by the Tax Benefit Actually Realized by the Indemnified Party or its Subsidiaries with respect to such payments in the taxable year the payment is made or any prior taxable year.
Appears in 3 contracts
Sources: Tax Sharing Agreement (Hill-Rom Holdings, Inc.), Tax Sharing Agreement (Batesville Holdings, Inc.), Tax Sharing Agreement (Hillenbrand, Inc.)