Enactment of exemptions Sample Clauses

Enactment of exemptions. A member state shall enact entity-based, use-based, and product-based exemptions in accordance with the provisions of this section and utilize common definitions in accordance with the provisions of section 57-39.4-28 and the agreement.
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Enactment of exemptions. ‌ 2 A. A member state shall enact entity-based, use-based and product-based exemptions in 3 accordance with the provisions of this section and shall utilize common definitions in 4 accordance with the provisions of Section 327 and Library of Definitions in Appendix C 5 of this Agreement. (1) A member state may enact a product-based exemption without restriction if Part II of 7 the Library of Definitions does not have a definition for such product.
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Enactment of exemptions. A member state may enact a product-based exemption without restriction if the 3 Agreement does not have a definition for the product or for a term that includes the 4 product. If the Agreement has a definition for the product or for a term that includes the 5 product, a member state may exempt all items included within the definition but shall 6 not exempt only part of the items included within the definition unless the Agreement 7 sets out the exemption for part of the items as an acceptable variation.
Sample 1

Related to Enactment of exemptions

  • Tax Exemptions and Exemption Certificates If Applicable Law clearly exempts a purchase hereunder from a Tax, and if such Applicable Law also provides an exemption procedure, such as an exemption-certificate requirement, then, if the Purchasing Party complies with such procedure, the Providing Party shall not collect such Tax during the effective period of such exemption. Such exemption shall be effective upon receipt of the exemption certificate or affidavit in accordance with the terms set forth in Section 41.6. If Applicable Law clearly exempts a purchase hereunder from a Tax, but does not also provide an exemption procedure, then the Providing Party shall not collect such Tax if the Purchasing Party (a) furnishes the Providing Party with a letter signed by an officer requesting such an exemption and citing the provision in the Applicable Law which clearly allows such exemption and (b) supplies the Providing Party with an indemnification agreement, reasonably acceptable to the Providing Party (e.g., an agreement commonly used in the industry), which holds the Providing Party harmless on an after-tax basis with respect to its forbearing to collect such Tax.

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