Western Union 2014 Annual Report Download - page 260
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2014 FORM 10-K
THE WESTERN UNION COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
122
Also under the tax allocation agreement, with respect to taxes and other liabilities that result from a final determination that
is inconsistent with the anticipated tax consequences of the Spin-off (as set forth in the private letter ruling and relevant tax opinion)
("Spin-off Related Taxes"), the Company will be liable to First Data for any such Spin-off Related Taxes attributable solely to
actions taken by or with respect to the Company. In addition, the Company will also be liable for half of any Spin-off Related
Taxes (i) that would not have been imposed but for the existence of both an action by the Company and an action by First Data or
(ii) where the Company and First Data each take actions that, standing alone, would have resulted in the imposition of such Spin-
off Related Taxes. The Company may be similarly liable if it breaches certain representations or covenants set forth in the tax
allocation agreement. If the Company is required to indemnify First Data for taxes incurred as a result of the Spin-off being taxable
to First Data, it likely would have a material adverse effect on the Company's business, financial condition and results of operations.
First Data generally will be liable for all Spin-off Related Taxes, other than those described above.