Exclusion of tax Sample Clauses

Exclusion of tax on overall net income. In this Clause 22 “tax deduction” means any deduction or withholding for or on account of any present or future tax except tax on a Creditor Party’s overall net income.
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Exclusion of tax on overall net income
Sample 1Sample 2Sample 3See All (10)
Exclusion of tax. All bid prices shall be submitted exclusive of the state Sales and Use Tax to facilitate comparison of bids. Successful bidders will be furnished with appropriate exemption certificates where applicable. Sales tax shall be billed to Semcac for all work determined to be outside statutory exemptions.
Sample 1
Exclusion of tax. ON OVERALL NET INCOME. In this Clause 22 "TAX DEDUCTION" means any deduction or withholding for or on account of any present or future tax except tax on a Creditor Party's overall net income.
Sample 1

Related to Exclusion of tax

  • Treatment of Taxes Except as otherwise provided in the Loan Agreement, the proceeds of the Loan may be withdrawn to pay for taxes levied by, or in the territory of, the Borrower or the Guarantor on the goods or services to be financed under the Loan, or on their importation, manufacture, procurement or supply. Financing of such taxes is subject to the Bank’s policy of requiring economy and efficiency in the use of the proceeds of its loans. To that end, if the Bank shall at any time determine that the amount of any taxes levied on or in respect of any item to be financed out of the proceeds of the Loan is excessive or otherwise unreasonable, the Bank may, by notice to the Borrower, adjust the percentage for withdrawal set forth or referred to in respect of such item in the Loan Agreement as required to be consistent with such policy of the Bank.” (b) Section 6.03 (c) of the General Conditions is amended by replacing the words “corrupt or fraudulent” with the words “corrupt, fraudulent, collusive or coercive”. Section 1.02. Unless the context otherwise requires, the several terms defined in the General Conditions and in the Preamble to this Agreement have the respective meanings therein set forth and the following additional terms have the following meanings:

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