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

Returns for Periods Through the Closing Date. Parent shall include the income of IBEX (including any deferred items triggered into income by Reg. §1.1502-13 and any excess loss account taken into income under Reg. §1.1502-19) on Parent’s consolidated federal Income Tax Returns for all periods through the end of the Closing Date and pay any federal Income Taxes attributable to such income. IBEX shall furnish Tax information to Parent for inclusion in Parent’s federal consolidated Income Tax Return for the period that includes the Closing Date in accordance with past custom and practice of IBEX. The income of IBEX shall be apportioned to the period up to and including the Closing Date and the period after the Closing Date by closing the books of IBEX as of the end of the Closing Date.