Western Union 2013 Annual Report Download - page 222
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2013 FORM 10-K
THE WESTERN UNION COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
112
Pursuant to the separation and distribution agreement with First Data in connection with the Spin-off (see Note 1), First Data
and the Company are each liable for, and agreed to perform, all liabilities with respect to their respective businesses. In addition,
the separation and distribution agreement also provides for cross-indemnities principally designed to place financial responsibility
for the obligations and liabilities of the Company's business with the Company and financial responsibility for the obligations and
liabilities of First Data's retained businesses with First Data. The Company also entered into a tax allocation agreement that sets
forth the rights and obligations of First Data and the Company with respect to taxes imposed on their respective businesses both
prior to and after the Spin-off as well as potential tax obligations for which the Company may be liable in conjunction with the
Spin-off (see Note 10).