DEFICIT COMPANY

DEFICIT COMPANY. The term "DEFICIT COMPANY" shall mean any of the corporations within the Titan Consolidated Group that has an ordinary loss, capital loss, special deduction or tax credit arising in a consolidated return tax year, or in a prior separate return year, that is utilized to a greater extent in the then current consolidated federal income tax return than would have been the case if such corporation had filed a separate federal income tax return for the year.