Resideo Terminates Tax Agreement with Honeywell, Pays $11.6M

Resideo Technologies, Inc. terminated its Tax Matters Agreement with Honeywell International Inc., a legacy of its spin-off, requiring a one-time payment of $11.6 million. This agreement also includes a mutual release of claims related to the tax agreement and other separation-related tax liabilities. Additionally, a wholly-owned subsidiary, Resideo Funding Inc., merged into Resideo Funding II LLC, with the latter assuming all obligations for outstanding senior notes and the existing credit agreement.