Common use of TFMC Separate Returns and Joint Returns Clause in Contracts

TFMC Separate Returns and Joint Returns. (a) TFMC shall prepare and file, or cause to be prepared and filed, at TFMC’s expense, all TFMC Separate Returns and Joint Returns, and each member of the TEN Group to which any such Joint Return relates shall execute and file such consents, elections and other documents as TFMC may reasonably determine, after consulting with TEN in good faith, are required or appropriate. TEN will elect and join, and will cause its respective Affiliates to elect and join, in filing any Joint Returns that TFMC reasonably determines are required to be filed or that TFMC elects to file, in each case pursuant to this Section 2.1(a). (b) The Parties and their respective Affiliates shall elect to close the Tax Period of each member of the TEN Group member on the Distribution Date, to the extent permitted by applicable Tax Law without changing the fiscal year of such member of the TEN Group. (c) TFMC shall submit to TEN a draft of the portions of any Joint Return that reflect a Tax liability allocated to TEN pursuant to Section 1.2(a). TFMC shall (i) use its commercially reasonable efforts to make such portions of a Joint Return available for review as required under this Section 2.1(c) sufficiently in advance of the due date for filing of such Joint Return to provide TEN with a meaningful opportunity to analyze and comment on such portions of such Joint Return but in no event less than twenty (20) days prior to the filing of such Joint Return and (ii) modify any such Joint Return to take into account any reasonable comments provided by TEN.