DOUBLE TAX TREATIES Sample Clauses

DOUBLE TAX TREATIES. Where the Borrower is or may be obliged to withhold tax from any payment to a Bank under the Finance Documents and its obligation to withhold such tax may be eliminated or reduced under any applicable double taxation agreement or treaty, the relevant Bank will promptly comply with all appropriate formalities required to be performed by it under such double taxation agreement or treaty (save as may depend on action being taken by a third party which has not been taken) so that it can receive payments from the Borrower under the Finance Documents without deduction of such tax or with deduction at the reduced level permitted by such double taxation agreement or treaty.
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DOUBLE TAX TREATIES. For the purposes of Clause 11.3(a) above, a financial institution which is a Qualifying Bank by virtue of satisfying part (b) of the definition thereof shall nevertheless not be treated as a Qualifying Bank until the Obligors receive an appropriate direction as described in that part (b).
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DOUBLE TAX TREATIES. If and to the extent that the effect of Clause 11.1 (Gross-up) can be mitigated in respect of any Bank by virtue of the provisions of any applicable double tax treaty, such Bank shall promptly (and in any event before the relevant payment is due to be made) complete and deliver to the appropriate person such application and take such other steps as are required pursuant to such treaty to enable the Borrower to make the relevant payment without deduction and which the relevant Bank is able to make under applicable law or practice.
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DOUBLE TAX TREATIES. No relief or credit which has been claimed by any Target Group Company or which 126 124 any Target Group Company is entitled to claim under any double tax agreement or convention entered into between the jurisdiction in which it is resident and any other relevant jurisdiction may be disallowed or withdrawn, postponed, restricted, clawed back or otherwise lost as a result of any Transaction which occurred on or before Completion.
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DOUBLE TAX TREATIES. Each PMD Group Company is a resident for the purposes of any double taxation agreement or convention entered into between the jurisdiction in which it is resident and any other relevant jurisdiction.
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DOUBLE TAX TREATIES. Save as disclosed in the Disclosure Letter, each Group Company is entitled to claim the benefit of any double taxation agreement or convention entered into between the Jurisdiction in which it is resident and any other relevant jurisdiction. 137
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DOUBLE TAX TREATIES. Each Bank and the Facility Agent or the relevant Obligor (as the case may be) shall as soon as reasonably practicable after the date hereof or upon becoming a party to this Agreement or (as the case may be) after the date a Borrower not incorporated in the United Kingdom accedes to this Agreement submit the form or forms to the appropriate revenue authorities as may reasonably be necessary in order to comply with the requirements of any applicable law or relevant double taxation (if any) in relation to the payment of any interest and commitment commission hereunder to such Bank or the Facility Agent free (or subject to any applicable reduced rate) of deduction or withholding of or on account of any Tax which would otherwise be applicable and, if such Bank or the Facility Agent fails to comply with this Clause 14.8 the relevant Obligor shall not have any obligation to pay any increased amount required by Clauses 14.2 or 14.3 if and to the extent that it would not have been required to make any deduction or withholding (or would only have been required to make any such deduction or withholding at any applicable reduced rate) of or on account of any Tax had such Bank or the Facility Agent complied with this Clause 14.8.
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Related to DOUBLE TAX TREATIES

  • Intended Tax Treatment Notwithstanding anything to the contrary herein or in any other Transaction Document, all parties to this Agreement covenant and agree to treat each Loan under this Agreement as debt (and all Interest as interest) for all federal, state, local and franchise tax purposes and agree not to take any position on any tax return inconsistent with the foregoing.

  • ELIMINATION OF DOUBLE TAXATION Double taxation shall be eliminated as follows: (1) In the case of Austria: a) Where a resident of Austria derives income which, in accordance with the provisions of this Convention, may be taxed in the United Kingdom, Austria shall allow as a deduction from the tax on the income of that resident, an amount equal to the tax on income or capital gains paid in the United Kingdom; Such deduction shall not, however, exceed that part of the income tax, as computed before the deduction is given, which is attributable, as the case may be, to the income or the capital gains which may be taxed in the United Kingdom. b) Where in accordance with any provision of the Convention income derived by a resident of Austria is exempt from tax in that State, Austria may nevertheless, in calculating the amount of tax on the remaining income of such resident, take into account the exempted income. (2) Subject to the provisions of the law of the United Kingdom regarding the allowance as a credit against United Kingdom tax of tax payable in a territory outside the United Kingdom or, as the case may be, regarding the exemption from United Kingdom tax of a dividend arising in a territory outside the United Kingdom or of the profits of a permanent establishment situated in a territory outside the United Kingdom (which shall not affect the general principle hereof): a) Austrian tax payable under the laws of Austria and in accordance with this Convention, whether directly or by deduction, on profits, income or chargeable gains from sources within Austria (excluding in the case of a dividend tax payable in respect of the profits out of which the dividend is paid) shall be allowed as a credit against any United Kingdom tax computed by reference to the same profits, income or chargeable gains by reference to which the Austrian tax is computed; b) a dividend which is paid by a company which is a resident of Austria to a company which is a resident of the United Kingdom shall be exempted from United Kingdom tax, when the exemption is applicable and the conditions for exemption under the law of the United Kingdom are met; c) the profits of a permanent establishment in Austria of a company which is a resident of the United Kingdom shall be exempted from United Kingdom tax when the exemption is applicable and the conditions for exemption under the law of the United Kingdom are met; d) in the case of a dividend not exempted from tax under subparagraph b) above which is paid by a company which is a resident of Austria to a company which is a resident of the United Kingdom and which controls directly or indirectly at least 10 per cent of the voting power in the company paying the dividend, the credit mentioned in subparagraph a) above shall also take into account the Austrian tax payable by the company in respect of its profits out of which such dividend is paid. (3) For the purposes of paragraphs 1 and 2, profits, income and gains owned by a resident of a Contracting State which may be taxed in the other Contracting State in accordance with this Convention shall be deemed to arise from sources in that other State.

  • Income Tax Treatment Employee and the Company acknowledge that it is the intention of the Company to deduct all amounts paid under Section 2 hereof as ordinary and necessary business expenses for income tax purposes. Employee agrees and represents that he will treat all such amounts as required pursuant to all applicable tax laws and regulations, and should he fail to report such amounts as required, he will indemnify and hold the Company harmless from and against any and all taxes, penalties, interest, costs and expenses, including reasonable attorneys' and accounting fees and costs, which are incurred by Company directly or indirectly as a result thereof.

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

  • Agreed Tax Treatment Each Security issued hereunder shall provide that the Company and, by its acceptance of a Security or a beneficial interest therein, the Holder of, and any Person that acquires a beneficial interest in, such Security agree that for United States Federal, state and local tax purposes it is intended that such Security constitutes indebtedness.

  • Payee Tax Representations Each representation specified in the Schedule as being made by it for the purpose of this Section 3(f) is accurate and true.

  • Applicable Taxes In the event the Corporation determines that it is required to withhold state or federal income taxes, Social Security taxes, or any other applicable taxes as a result of the payment of the Shares, the Corporation will satisfy such withholding requirements by withholding of Shares otherwise payable upon the settlement of the Award, which Shares will have a Fair Market Value (determined as of the date when taxes would otherwise be withheld in cash) not in excess of the legally required minimum amount of tax withholding.

  • Amended Tax Returns (a) Subject to Section 4.4 and notwithstanding Section 2.1 and Section 2.2, a Party (or its Subsidiary) that is entitled to file an amended Tax Return for a Pre-Distribution Tax Period or a Straddle Tax Period for members of its Tax Group shall be permitted to prepare and file an amended Tax Return at its own cost and expense; provided, however, that (i) such amended Tax Return shall be prepared in a manner consistent with (and the Parties and their Affiliates shall not take any position inconsistent with) past practices of the Parties and their Affiliates or supported by an unqualified reasoned “should” or “will” opinion of a Qualified Tax Advisor, unless otherwise modified by a Final Determination or required by applicable Law, the IRS Ruling, the Tax Representation Letters, or the Tax Opinions; and (ii) if such amended Tax Return could result in one or more other Parties becoming responsible for a payment of Taxes pursuant to Article III or a payment to a Party pursuant to Article IX, such amended Tax Return shall be permitted only if the consent of such other Parties is obtained. The consent of such other Parties shall not be withheld unreasonably and shall be deemed to be obtained in the event that a Party (or its Subsidiary) is required to file an amended Tax Return as a result of an Audit adjustment that arose in accordance with Article IX. (b) A Party (or its Subsidiary) that is entitled to file an amended Tax Return for a Post-Distribution Tax Period, shall be permitted to do so at its own cost and expense and without the consent of any Party. (c) A Party that is permitted (or whose Subsidiary is permitted) to file an amended Tax Return, shall not be relieved of any liability for payments pursuant to this Agreement notwithstanding that another Party consented thereto.

  • Federal Income Tax Treatment It is the intention of the Trust Depositor that the Trust be disregarded as a separate entity for federal income tax purposes pursuant to Treasury Regulations Section 301.7701-3(b)(1)(ii) as in effect for periods after January 1, 1997. The Equity Certificate constitutes the sole equity interest in the Trust and must at all times be held by either the Trust Depositor or its transferee as sole Owner. The Trust Depositor agrees not to take any action inconsistent with such intended federal income tax treatment. Because for federal income tax purposes the Trust will be disregarded as a separate entity, Trust items of income, gain, loss and deduction for any month as determined for federal income tax purposes shall be allocated entirely to the Owner; provided, that this sentence shall not limit or otherwise affect the provisions of the Transaction Documents pertaining to distributions of Trust Assets or proceeds thereof to Persons other than the Trust Depositor.

  • Special Tax Treatment Capital gains treatment and 10-year forward income averaging authorized by IRC Sec. 402 do not apply to IRA distributions.

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