Accounting and Taxes. The Manager shall carry out the day-to-day accounting and tax calculations of the Trust and any Investment Trust.
Accounting and Taxes. 11.1 The Accounting Procedure is hereby made part of this Agreement. In the event of any conflict between this Agreement and the Accounting Procedure, this Agreement shall prevail. The Accounting Procedure is an inseparable part of this Agreement. The Accounting Procedure rights of audit pursuant to Section 1.9 shall apply to any account maintained by the Operator into which revenues from Production for Joint Operations or Exclusive Risk Operations are deposited, and Non-Operators shall have access to such accounts and account records within five (5) days of request for same from the Operator.
Accounting and Taxes. The Bank shall keep all appropriate books and records relating to the receipt and disbursement by it of all monies under this Agreement. The Bank will prepare all tax returns required to be filed with respect to the Trust Account. It is your responsibility to determine what, if any, taxes apply to the Payments you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority with respect to such Payments. You acknowledge that ArbiterPay is not responsible for determining whether taxes apply to your transactions. You further acknowledge that ArbiterPay is not responsible for collecting, reporting or remitting any taxes, garnishments, levies, or any other third party collections or payments with respect to any Payments. ArbiterPay will keep records of all Payments made to ArbiterPay Users. You may elect on the Website to have ArbiterPay issue 1099 tax forms to ArbiterPay Users on your behalf. You agree and acknowledge that any 1099 tax forms issued to ArbiterPay Users on your behalf will be issued electronically. You acknowledge that the information provided by ArbiterPay Users from their online application will be used as a substitute for IRS form W-9. You specifically certify that (i) ArbiterPay has notified you that the information you submitted in connection with opening your Account will be used as a substitute for IRS form W-9; (ii) the number shown on your online Account application form is your correct taxpayer identification number; (iii) you are a U.S. person (including a U.S. resident alien); and (iv) you are not subject to backup withholding because (a) you are exempt from backup withholding, (b) you have not been notified by the IRS that you are subject to backup withholding as a result of a failure to report all interest or dividend income, or (c) the IRS has notified you that you are no longer subject to backup withholding.
Accounting and Taxes. Maker shall maintain a system of accounting and reserves in accordance with GAAP, has filed and shall file each tax return required of it, and has paid and shall pay when due, unless disputed in good faith by Maker, each tax, assessment, fee, charge, fine and penalty imposed by any taxing authority upon it or any of its assets, income or franchises, as well as all amounts owed to mechanics, materialmen, landlords, suppliers and the like in the normal course of business.
Accounting and Taxes. 39 11.1 Accounting.....................................................................................39 11.2 Taxes..........................................................................................39 12. DEFAULT.................................................................................................39
Accounting and Taxes. During the Interim Period, the Company will not make any material change in any accounting principles, practices or methods, including their principles, practices or methods for the calculation of reserves for receivables and for inventory
Accounting and Taxes. 13.1 The fiscal year of ECSL shall begin on the 1 January each year and end on 31 December each year.
13.2 All of the vouchers, receipts, reports and account books shall be written in Chinese and in English.
13.3 All of the vouchers, receipts, reports and account books shall be maintained in Beijing at the premises of ECSL. They shall be available for inspection to the parties to this Agreement, to members of the JMC, project officials of the European Commission, auditing institutions of China and other relevant people with the right to inspect accounting files according to the relevant laws and contracts.
13.4 Within 45 days following the end of each reporting year, the European Co-Xxxx shall have the financial report of that reporting year prepared and shall submit it to the JMC if this regulation is not contradictory to the conditions in the Grant Contract.
13.5 At the end of each reporting period, ECSL shall have financial and accounting reports prepared, and shall submit them for audit conducted by an auditor registered in P.R. China from an internationally recognised firm of certified public accountants. The auditor appointed by ECSL shall be nominated by the Co-Deans and approved by the JMC. The report of the results thereof shall be prepared in Chinese and English and submitted to the JMC and to the Parties.
Accounting and Taxes. 1. This agreement is not intended to create, and shall not be construed to create, a relationship of partnership or an association for profit between or among the parties hereto. If, for federal income tax purposes, this agreement and the operations hereunder are regarded as a partnership, each party hereby affected elects to be excluded from the application of all of the provisions of Subchapter "K", Chapter 1, Subtitle "A", of the Internal Revenue Code of 1954, and any amendments thereto, as permitted and authorized by Section 761 of the Code and regulations promulgated thereunder. Each party states and represents that the income derived by such party from operations hereunder can be adequately determined without the computation of partnership taxable income.
2. To the extent permitted by law, all deductions and credits, including, but not limited to, intangible drilling and development costs, depreciation, rental expenses, and investments qualifying for the investment credit where applicable, shall be allocated to the party who has been charged with the expenditure giving rise to the deductions and credits; and to the extent permitted by law, such parties shall be entitled to the deductions and credits in computing taxable income or tax liabilities to the exclusion of any other party.
Accounting and Taxes. 21 4.1 Distributions.....................................................21 4.2 Taxes. 21 4.3 Working Capital Settlement and Estimate of Adjusted Purchase Price.............................................................22 4.4 Sales Tax and Fees................................................23 4.5 Tax Status........................................................23 4.6 Basis.............................................................23 4.7 Allocations.......................................................24
Accounting and Taxes. 13 6.1. Books and Records...............................................................................13 6.2. Rights of Inspection............................................................................13 6.3. Bank Accounts...................................................................................13 6.4. Financial Statements............................................................................13 6.5. Other Accounting Decisions......................................................................13 6.6. Preparation of Tax Returns......................................................................13 6.7. Allocation of Profits, Gains and Losses.........................................................14 6.8. Tax Decisions Not Specified.....................................................................14 6.9. Notice of Tax Audit.............................................................................14 6.10. Tax Matters Partner.............................................................................14 7. SALE, TRANSFER AND REDEMPTION...........................................................................15 7.1. General.........................................................................................15 7.2. Securities Law Limitations......................................................................15 7.3. Agreement with Transferees......................................................................15 7.4. Automatic Redemption of Class B Interests.......................................................15 8. DISSOLUTION.............................................................................................15 8.1. Causes of Dissolution...........................................................................15 8.2. Procedure in Dissolution and Liquidation........................................................16 9. AMENDMENT...............................................................................................16 9.1. Amendment.......................................................................................16 10. DISPUTES................................................................................................17 10.1. Escalation......................................................................................17 10.2. Arbitration.....................................................................................17 11.
