Common use of Returns for Periods Through the Closing Date Clause in Contracts

Returns for Periods Through the Closing Date. GTC will include the income of the Company and its consolidated Subsidiaries (including any deferred income triggered into income by Treasury Regulations Section 1.1502-13 and Treasury Regulations Section 1.1502-14 and any excess loss accounts taken into income under Treasury Regulations Section 1.1502-19) on the GTC consolidated federal Tax Returns for all periods up to and including the Closing Date and pay any federal Taxes required to be paid. The Company and its Subsidiaries will furnish Tax information to GTC for inclusion in GTC's federal consolidated Tax Return for the period which includes the Closing Date in accordance with the Company's past custom and practice. The income of the Company and its Subsidiaries will be apportioned to the period through and including the Closing Date and to the period after the Closing Date by closing the books of the Company and its Subsidiaries as of the end of the date immediately prior to the Closing Date.