Compliance with Tax Requirements. 1. In connection with this Plan, to the extent applicable, the Reorganized Debtors will comply with all tax withholding and reporting requirements imposed on them by any governmental unit, and all distributions pursuant to this Plan that may be necessary or appropriate to comply with such withholding and reporting requirements. 2. Notwithstanding any other provision of this Plan, each entity that has received any distribution pursuant to this Plan will have sole and exclusive responsibility for the satisfaction and payment of any tax obligation imposed by any governmental unit, including income, withholding and other tax obligations, on account of such distribution.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Mobilemedia Communications Inc), Merger Agreement (Mobilemedia Corp)
Compliance with Tax Requirements. 1. In connection with this Plan, to the extent applicable, the Reorganized Debtors will shall comply with all tax withholding and reporting requirements imposed on them by any governmental unit, and all distributions pursuant to this Plan that may be necessary or appropriate to comply with such withholding and reporting requirements.
2. Notwithstanding any other provision of this Plan, each entity Person that has received any distribution pursuant to this Plan will shall have sole and exclusive responsibility for the satisfaction and payment of any tax obligation imposed by any governmental unit, including income, withholding and other tax obligations, on account of such distribution.
Appears in 2 contracts
Samples: Backstop Commitment Agreement, Backstop Commitment Agreement (AbitibiBowater Inc.)
Compliance with Tax Requirements. 1. In connection with this Plan, (m) to the extent applicable, the Reorganized Debtors will shall comply with all tax withholding and reporting requirements imposed on them by any governmental unit, and all distributions pursuant to this Plan that may be necessary or appropriate to comply with such withholding and reporting requirements.
2. Notwithstanding any other provision of this Plan, each entity Person that has received any distribution pursuant to this Plan will shall have sole and exclusive responsibility for the satisfaction and payment of any tax obligation imposed by any governmental unit, including income, withholding and other tax obligations, on account of such distribution.
Appears in 1 contract
Samples: Backstop Commitment Agreement
Compliance with Tax Requirements. 1. In connection with this Planthe Plan and the distributions made in accordance thereto, to the extent applicable, the Debtor and the Reorganized Debtors will Debtor shall comply with all tax withholding and reporting requirements requirements, if any, imposed on them by any governmental unit, Governmental Unit and all distributions pursuant to this the Plan shall be subject to such withholding and reporting requirements. The Reorganized Debtor shall be authorized to take any and all actions that may be necessary or appropriate to comply with such withholding and reporting requirements.
2. Notwithstanding any other provision of this Plan, each entity that has received any distribution pursuant to this Plan will have sole and exclusive responsibility for the satisfaction and payment of any tax obligation imposed by any governmental unit, including income, withholding and other tax obligations, on account of such distribution.
Appears in 1 contract
Samples: Restructuring Agreement (Ener1 Inc)