Bulletin 7 Estimated Tax Reserve Arrangements Sample Clauses

Bulletin 7 Estimated Tax Reserve Arrangements. On and after the Closing, the Seller and the Purchaser acknowledge that the Bulletin 7 Prepaid Estimated Tax Reserve is held in the Joint Account, and the Seller and Purchaser shall jointly instruct the Joint Account Bank to release such Bulletin 7 Prepaid Estimated Tax Reserve to the Seller Bank Account or to the relevant Government Authority on behalf of the Seller (as applicable) as follows:
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Bulletin 7 Estimated Tax Reserve Arrangements. In the event that as of the date on which all Holdback Amount Conditions (other than the Holdback Amount Condition in Section 2.2(e)(i)(A)) have been satisfied, the Seller has not yet obtained the Bulletin 7 Final Assessed Tax Amount issued by the relevant Government Authority in the PRC and has not provided the Purchaser with the relevant payment evidence and Tax completion certificate in respect of the full payment of such Bulletin 7 Final Assessed Tax Amount, then a portion of the sum of the Holdback Amount (in USD) equal to the Bulletin 7 Estimated Tax Reserve (or if the relevant Government Authority in the PRC has subsequently issued the Bulletin 7 Final Assessed Tax Amount, an amount equal to the Bulletin 7 Final Assessed Tax Amount) minus the Bulletin 7 Assessed Tax Amount for Closing Payment which Seller has provided relevant payment evidence and Tax completion certificate to the Purchaser (such result, the “Bulletin 7 Remaining Estimated Tax Reserve”), shall be paid by the Purchaser to the Joint Account within six (6) Business Days after the date on which all the Holdback Amount Conditions (other than the Holdback Amount Condition in Section 2.2(e)(i)(A)) are satisfied, and the condition provided in Section 2.2(e)(i)(A) shall be deemed satisfied as of the expiry of the above six (6)-Business Day period. The Seller and the Purchaser shall jointly instruct the Joint Account Bank to release such Bulletin 7 Remaining Estimated Tax Reserve to the Seller Bank Account or to the relevant Government Authority on behalf of the Seller (as applicable) in accordance with the provisions of Section 2.2(c)(ii) applied mutatis mutandis to the Bulletin 7 Remaining Estimated Tax Reserve, except that for purposes of this Section 2.2(e)(ii), Section 2.2(c)(ii)(C) shall be read as “if the Bulletin 7 Final Assessed Tax Amount is less than the sum of the Bulletin 7 Prepaid Estimated Tax Reserve (as reduced to be equal to the Bulletin 7 Assessed Tax Amount for Closing Payment) and the Bulletin 7 Remaining Estimated Tax Reserve, then the Seller and Purchaser shall instruct the Joint Account Bank to release any such remaining difference to the Seller Bank Account within five (5) Business Days after the Seller has delivered to the Purchaser evidence that it has duly made all filings required under Section 5.3 in respect of the Final Purchase Price and paid all the Bulletin 7 Final Assessed Tax Amount, and provided to the Purchaser a true and complete copy of the Tax completi...
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Related to Bulletin 7 Estimated Tax Reserve Arrangements

  • Taxes, etc Any taxes, fees and expenses in connection with the purchase and registration under the Buyers’ flag shall be for the Buyers’ account, whereas similar charges in connection with the closing of the Sellers’ register shall be for the Sellers’ account.

  • Taxes Other Than Income Taxes Upon the timely request by the Interconnection Customer, and at the Interconnection Customer’s sole expense, the CAISO or Participating TO may appeal, protest, seek abatement of, or otherwise contest any tax (other than federal or state income tax) asserted or assessed against the CAISO or Participating TO for which the Interconnection Customer may be required to reimburse the CAISO or Participating TO under the terms of this LGIA. The Interconnection Customer shall pay to the Participating TO on a periodic basis, as invoiced by the Participating TO, the Participating TO’s documented reasonable costs of prosecuting such appeal, protest, abatement, or other contest. The Interconnection Customer, the CAISO, and the Participating TO shall cooperate in good faith with respect to any such contest. Unless the payment of such taxes is a prerequisite to an appeal or abatement or cannot be deferred, no amount shall be payable by the Interconnection Customer to the CAISO or Participating TO for such taxes until they are assessed by a final, non-appealable order by any court or agency of competent jurisdiction. In the event that a tax payment is withheld and ultimately due and payable after appeal, the Interconnection Customer will be responsible for all taxes, interest and penalties, other than penalties attributable to any delay caused by the Participating TO.

  • Value Added Tax (VAT Where appropriate, VAT will be added to the fees or charges on your investment.

  • REAL PROPERTY GAINS TAX a) Pursuant to the provision of the Real Property Gains Tax Act, 1976 (hereinafter referred to as “the said Act”) and for the purpose of this sale, the Purchaser shall deduct a sum of equivalent to 3% of the Purchase Price and shall pay the said 3% of the Purchase Price to the Director General of Inland Revenue Malaysia within sixty (60) days from the date of disposal of the Property.

  • STATUTORY TAX DISTRICTS If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control facilities and services, Chapter 49, Texas Water Code, requires Seller to deliver and Buyer to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fee of the district prior to final execution of this contract.

  • Prices; Taxes 1.1 Prices are subject to change at any time, except with respect to orders which have been accepted by Seller and outstanding quoted prices which shall be valid for the longer of 10 days or the period specified with the quote. All prices are based on the quantity indicated and are Ex Works (“EXW” - Incoterms 2010) Seller’s facility. Any notice or instruction from the Buyer requesting a change in the quantity specifications, scope of work, or other terms, will not be effective unless accepted in writing by Seller, including appropriate adjustments to price, specifications, delivery date and other terms. Seller reserves the right to correct errors in pricing due to inaccurate or incomplete information, clerical mistakes or other causes.

  • CAISO Charges (a) Seller shall assume all liability and reimburse Buyer for any and all CAISO Penalties incurred by Buyer because of Seller’s failure to perform any covenant or obligation set forth in this Agreement. Buyer shall assume all liability and reimburse Seller for any and all CAISO Penalties incurred by Seller as a result of Buyer’s actions, including those resulting in a Buyer Curtailment Period.

  • EQUIPMENT TAX ASSESSMENT 17.1 Any bid for public improvement shall comply with Nebraska Revised Statutes Section 77-1323 and 77-1324. Indicating; every person, partnership, limited liability company, association or corporation furnishing labor or material in the repair, alteration, improvement, erection, or construction of any public improvement shall sign a certified statement which will accompany the contract. The certified statement shall state that all equipment to be used on the project, except that acquired since the assessment date, has been assessed for taxation for the current year, giving the county where assessed.

  • Federal Excise Tax A. Any taxes (including (i) any taxes based on or imposed on, in whole or in part, the Reinsurer's net income or (ii) any excise taxes under Section 4371 of the Internal Revenue Code of 1986, as amended (the "Code") with respect to the business covered under this Contract) imposed by any governmental entity in respect of amounts paid to the Reinsurer under this Contract will be the responsibility of the Reinsurer and the Company shall have no liability therefor. The Reinsurer will allow the Company to deduct, for the purpose of paying Federal Excise Tax the applicable percentage of any premium payable hereon (as imposed under Section 4371 of the Code) to the extent such premium is subject to such tax. Without limiting the foregoing, the Reinsurer shall indemnify and hold harmless the Company and the Insured against any excise taxes imposed under Section 4371 of the Code with respect to the business covered under this Contract except to the extent any penalties applied or interest arising from the Company's negligence.

  • CAISO ACA Charge The CAISO ACA Charge is the product of the Unit’s Billable MWh for the Billing Month and the applicable annual charge for short-term sales under 18 CFR Section 382.201 of the FERC Regulations. Schedule C Variable Cost Payment for All Conditions Part 5 for Biomass Generation Units For each month and each Unit, the Variable Cost Payment for Billable MWH from the Unit pursuant to Nonmarket Transaction during that Month shall be the amount calculated in accordance with the following formula: Variable Cost Payment = A.

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