Deduction items Sample Clauses

Deduction items. Except as other- wise provided in this section, any item of deduction properly taken into ac- count during the recognition period is recognized built-in loss if the item would have been properly allowed as a deduction against gross income before the beginning of the recognition period to an accrual method taxpayer (dis- regarding any method of accounting for which an election by the taxpayer must be made unless the taxpayer ac- tually used the method when it was a C corporation). In determining whether an item would have been properly al- lowed as a deduction against gross in- come by an accrual method taxpayer for purposes of this paragraph, section 461(h)(2)(C) and § 1.461–4(g) (relating to liabilities for tort, worker’s compensa- tion, breach of contract, violation of law, rebates, refunds, awards, prizes, jackpots, insurance contracts, war- ranty contracts, service contracts, taxes, and other liabilities) do not apply.
AutoNDA by SimpleDocs
Deduction items. (a) Deduction Items shall mean the following items, in each case to the extent that they: (i) do not constitute Permitted Items as set out in Exhibit 3.2; (ii) have not been permitted by the Purchaser in writing (which permission expressly states that such matters constitute Permitted Items) to the Seller; or (iii) have not been included as deduction items in the equity bridge set out in Exhibit 3.2(a) (the Equity Bridge): (i) any costs, financial penalties (including increased interest payments) or pre-payment or other fees paid by any Target Company after the Locked Box Accounts Date, increased interest payment obligations or other payment obligations outstanding under the Finance Documents, accrued or contingent, as of the Closing Date and in each case resulting from, or in connection with, any covenant breaches prior to and including the Closing Date, or waivers or curing thereof, under the Finance Documents; (ii) any payments (in cash or in kind) made after the Locked Box Accounts Date by any Target Company, or any obligations or liabilities of any Target Company, accrued or contingent as of the Closing Date to pay to transaction advisers, brokers, finders, consultants, investment banks, lawyers or other advisers for services rendered in connection with the Proposed Transaction (save for any costs, payments, expenses, obligations or liabilities incurred by the Target Companies in connection with the Target Companies’ or the Seller’s compliance with clauses 8.9 to 8.11 or to be borne by the Purchaser in accordance with clause 8.14); (iii) any payments (in cash or in kind) made after the Locked Box Accounts Date by any Target Company of, or any obligations or liabilities of any Target Company, accrued or contingent as of the Closing Date to pay any exit, change of control, transaction, retention or similar bonuses to board members, directors, officers or employees of any Target Company (including any wage taxes, wage withholding taxes and social security contributions related to any of the foregoing) in connection with the Proposed Transaction to the extent they are not part of, or in connection with, the management retention bonus scheme of the Target Companies known as the “MLT Retention Bonus Scheme” existing at the date of this Agreement (the Scheme) (for the avoidance of doubt including wage taxes, wage withholding taxes and social security contributions related to the Scheme); (iv) any payments (in cash or in kind) made after the Locked Box Accoun...
Deduction items. Not fewer than five Business Days prior to the Distribution Date, Harrxx xxxll prepare and deliver to Lanixx xx itemized estimate of the credit items (collectively, the "Deduction Items") set forth on Schedule 2.4(a). Prior to the Distribution Date, Harrxx xxxl cause the aggregate balance of the intercompany payables owed by the Lanixx Xxxup to the Harrxx Xxxup to be reduced by an amount equal to the aggregate amount of the Deduction Items. The parties agree that the Deduction Items will not be settled by means of cash transfers.

Related to Deduction items

  • Deductions Upon the termination of the Lease, the Landlord may deduct the following from the Security Deposit: Unpaid rent; Late fees; Unpaid utilities Cost of repairs beyond ordinary wear and tear; Cleaning fee in the amount of $ ; Early Termination Fee Brokerage fees Others: .

  • Deduction A deduction shall be made from the current year's gratuity credits for all days absent on sick leave with pay, except that such deduction shall not exceed one (1) working day in each four (4) month segment of the calendar year. The total gratuity credited to each employee at December 31st of each calendar year will remain to such employee's credit regardless of time lost in any subsequent year through illness or any other reason.

  • Deduction or Withholding for Tax (i) Gross-Up. All payments under this Agreement will be made without any deduction or withholding for or on account of any Tax unless such deduction or withholding is required by any applicable law, as modified by the practice of any relevant governmental revenue authority, then in effect. If a party is so required to deduct or withhold, then that party (“X”) will:— (1) promptly notify the other party (“Y”) of such requirement; (2) pay to the relevant authorities the full amount required to be deducted or withheld (including the full amount required to be deducted or withheld from any additional amount paid by X to Y under this Section 2(d)) promptly upon the earlier of determining that such deduction or withholding is required or receiving notice that such amount has been assessed against Y; (3) promptly forward to Y an official receipt (or a certified copy), or other documentation reasonably acceptable to Y, evidencing such payment to such authorities; and (4) if such Tax is an Indemnifiable Tax, pay to Y, in addition to the payment to which Y is otherwise entitled under this Agreement, such additional amount as is necessary to ensure that the net amount actually received by Y (free and clear of Indemnifiable Taxes, whether assessed against X or Y) will equal the full amount Y would have received had no such deduction or withholding been required. However, X will not be required to pay any additional amount to Y to the extent that it would not be required to be paid but for:— (A) the failure by Y to comply with or perform any agreement contained in Section 4(a)(i), 4(a)(iii) or 4(d); or (B) the failure of a representation made by Y pursuant to Section 3(f) to be accurate and true unless such failure would not have occurred but for (I) any action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or (II) a Change in Tax Law.

  • DEDUCTION OF UNION FEES The employer shall deduct union fees from the wages and salaries of members of the union when authorised in writing by members. The employer will forward the monies with the names and the individual amounts deducted to the union.

  • Withholdings; Deductions The Company may withhold and deduct from any benefits and payments made or to be made pursuant to this Agreement (a) all federal, state, local and other taxes as may be required pursuant to any law or governmental regulation or ruling and (b) any deductions consented to in writing by Employee.

  • Withholding; Additional Amounts All amounts due in respect of this Agreement will be made without withholding or deduction for or on account of any present or future taxes, duties, levies, assessments or other governmental charges of whatever nature imposed or levied by or on behalf of any governmental authority in the United States unless the withholding or deduction is required by law, regulation or official interpretation thereof. Unless otherwise specified in the Annex, Principal Life will not pay any additional amounts to the Agreement Holder in the event that any withholding or deduction is so required by law, regulation or official interpretation thereof, and the imposition of a requirement to make any such withholding or deduction will not give rise to an Event of Default or any independent right or obligation to redeem this Agreement.

  • Withholding Payments The State reserves the right to withhold payment of the Engineer's billing statement in the event of any of the following: (1) If a dispute over the work or costs thereof is not resolved within a thirty day period; (2) pending verification of satisfactory work performed; (3) the Engineer becomes a delinquent obligor as set forth in Section 231.006 of the Family Code; (4) required reports are not received; or (5) the State Comptroller of Public Accounts will not issue a warrant to the Engineer. In the event that payment is withheld, the State shall notify the Engineer and give a remedy that would allow the State to release the payment.

  • DEDUCTIONS FROM SALARY A. The Board agrees to deduct from teachers' salaries unified membership dues for Xxxxxxxxx County Teachers Association, the Maryland State Education Association and the National Education Association as said teachers individually and voluntarily authorize to deduct through an appropriate written authorization form prepared by the Association and approved by the Human Resources Division. The Board agrees to transmit such monies promptly to the Association. 1. Deductions shall be made in twenty (20) equal installments beginning in August and ending in June of each year. For new enrollees, deductions shall be made in sixteen (16) equal installments beginning in October. The Board will not be required to honor any authorizations that are delivered to it later than fifteen (15) working days prior to the distribution of the November payroll, except for authorized deductions for first-year teachers, delivered after the distribution of the November payroll whose deductions will be made in equal installments computed in accordance with the number of pay periods remaining in that school year. 2. The Association will certify to the Board in writing the current rate of membership dues. The Association will give the Board thirty (30) days written notice prior to the effective date of any change in the rate of dues. 3. No later than October 1 of each year, the Board will provide the Association with a list of those teachers from whom dues were deducted on the first payroll. The Board will provide a similar list from the November 15 payroll not later than December 1. 4. In the event that a teacher terminates employment, the Board shall deduct the balance of the unpaid dues for the current membership year from the teacher's final pay check and transmit these dues promptly to the Association. B. Payroll deductions will be available at the request of the teacher for the plans listed below and XXXXX. Except in case of an emergency, the Board shall distribute all monies from payroll deduction accounts to the proper recipients within ten (10) workdays of its deduction following the pay date. 1. 403(b) and 457(b) Programs A list of companies authorized to offer 403(b) and 457(b) products to the employees of the Board will be made available to all employees by September 1 of each fiscal year beginning July 1. The number of authorized companies for which payroll deductions will be made will be determined by the insurance council. The insurance council will recommend a number of providers deemed sufficient to provide an adequate array of eligible investment products for the benefit of all employees. In order to be eligible for inclusion on this authorized list, the companies must meet the following criteria: a. A company must submit a written explanation of their company background, administrative capabilities, products and services for consideration by the insurance council. b. The insurance council will recommend to both the Board and the Association companies that should be on the authorized list. c. When a new company is added to the list before payroll begins, the company must initially sign up a minimum of ten (10) employees. Once the minimum number of employees is signed up, payroll deductions will begin as soon as practical. Approved service-fee based providers must sign up additional employees following the minimum participants schedule listed below for the first three (3) years: Year 1 – minimum of 15 employees Year 2 – minimum of 30 employees Year 3 – minimum of 50 employees After year three (3), if at any time an approved service-fee based provider drops below fifty (50) employees participating in its program for six (6) consecutive months during the school year, it will be dropped from the authorized list of companies at the end of the particular fiscal year in which such event occurs. No- load based providers will not be required to maintain a minimum number of participants due to the lack of on-site marketing. d. At any time the service-fee based company fails to meet this requirement by decision of the insurance council, it can be dropped from the list of authorized companies. At any time, a company fails to comply with IRS regulations, by decision of the insurance council, it can be dropped from the list of authorized companies. 2. Insurance plans approved by the Association and the Board. 3. Teachers desiring payroll deductions for XXXXX shall notify the Board in writing with fifteen

  • Deductions and Withholdings All amounts payable or which become payable hereunder shall be subject to all deductions and withholding required by law.

  • Withholding of Taxes and Other Employee Deductions Company may withhold from any benefits and payments made pursuant to this Agreement all federal, state, city and other taxes as may be required pursuant to any law or governmental regulation or ruling and all other normal employee deductions made with respect to Company’s employees generally.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!