Separate Federal Liability Computation Sample Clauses

Separate Federal Liability Computation. For all tax periods beginning after December 31, 1995, for which CI Consolidated Returns have not been filed by Corning as of the Distribution Date and in respect of which Corning is required to file a CI Consolidated Return, CCL and CPS respectively shall compute the CCL Separate Liability and the CPS Separate Liability for the portion of such periods in which the CCL Domestic Companies and the CPS Domestic Companies respectively are members of the CI Group. "CCL Separate Liability" in respect of any CI Consolidated Return Period means the federal income tax liability (including CCL's share of Corning's alternative minimum tax if Corning is subject to alternative minimum tax for such CI Consolidated Return Period, not to exceed Corning's consolidated alternative minimum tax for such period) computed as of December 31, 1996, as if CCL had filed a consolidated federal income tax return for the CCL Group in respect of such CI Consolidated Return Period. "CPS Separate Liability" in respect of any CI Consolidated Return Period means the federal income tax liability (including CPS's share of Corning's alternative minimum tax if Corning is subject to alternative minimum tax for such CI Consolidated Return Period, not to exceed Corning's consolidated alternative minimum tax for such period) computed as of December 31, 1996, as if CPS had filed a consolidated federal income tax return for the CPS Group in respect of such CI Consolidated Return Period. If, in computing the CCL Separate Liability or the CPS Separate Liability, CCL or CPS calculates that the CCL Group or the CPS Group, respectively, would experience a net operating loss resulting in no federal income tax liability as of December 31, 1996, the CCL Separate Liability or the CPS Separate Liability, as the case may be, shall be equal to a credit amount calculated by Corning and equal to the reduction in the Federal income tax liability of the CI Group by reason of the use of such net operating loss of the CCL Group or the CPS Group, as the case may be, in the CI Consolidated Return that Corning projects to be filed in respect of such period. Except as may otherwise be required by the Spin-Off Tax Indemnification Agreements, computations in respect of the CCL Separate Liability and the CPS Separate Liability shall be consistent with prior CI Group returns, shall follow the tax elections and other tax positions adopted or prescribed by Corning and shall take into account the adjustments and modifications s...
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Separate Federal Liability Computation. For all tax periods beginning after December 31, 1995, for which CI Consolidated Returns have not been filed by Corning as of the Distribution Date and in respect of which Corning is required to file a CI Consolidated Return, CCL and Covance respectively shall compute the CCL Separate Liability and the Covance Separate Liability for the portion of such periods in which the CCL Domestic Companies and the Covance Domestic Companies respectively are members of the CI Group. "CCL Separate Liability" in respect of any CI Consolidated Return Period means the federal income tax liability (including CCL's share of Corning's alternative minimum tax if Corning is subject to alternative minimum tax for such CI Consolidated Return Period, not to exceed Corning's consolidated alternative minimum tax for such period) computed as of December 31, 1996, as if CCL had filed a consolidated federal income tax return for the CCL Group in
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Related to Separate Federal Liability Computation

  • General Liability Coverage The CONTRACTOR shall maintain commercial general liability insurance in an amount of not less than one million dollars ($1,000,000) per occurrence for bodily injury, personal injury, and property damage. If a commercial general liability insurance form or other form with a general aggregate limit is used, either the general aggregate limit shall apply separately to the work to be performed under this Agreement or the general aggregate limit shall be at least twice the required occurrence limit.

  • General Liability Insurance Services Office Commercial General Liability coverage (occurrence form CG 0001); (2)

  • PROFESSIONAL LIABILITY AND CYBER LIABILITY INSURANCE COVERAGE In addition to the insurance required in Attachment C to this Contract, before commencing work on this Contract and throughout the term of this Contract, Contractor agrees to procure and maintain (a) Technology Professional Liability insurance for any and all services performed under this Contract, with minimum third party coverage of $1,000,000.00 per claim, $2,000,000.00 aggregate. To the extent Contractor has access to, processes, handles, collects, transmits, stores or otherwise deals with State Data, Contractor shall maintain first party Breach Notification Coverage of not less than $1,000,000.00. Before commencing work on this Contract the Contractor must provide certificates of insurance to show that the foregoing minimum coverages are in effect. With respect to the first party Breach Notification Coverage, Contractor shall name the State of Vermont and its officers and employees as additional insureds for liability arising out of this Contract.

  • CONTRIBUTION IN THE EVENT OF JOINT LIABILITY (a) To the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying, holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee. (b) The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee. (c) The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be brought by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

  • Excess/Umbrella Liability Excess/umbrella liability insurance may be included to meet minimum requirements. Umbrella coverage must indicate the existing underlying insurance coverage.