Foreign Companies. The Contractor is entirely responsible for fulfilling all VAT obligations. Should, as a direct or indirect consequence of the incomplete or incorrect application of VAT legislation by the Contractor or one of his subcontractors, an obligation arise for the Principal, whether or not based on a several obligation, to pay any sum in VAT of fines, or any limitations or refusals of the right to VAT deduction, or any other disadvantage, the Contractor shall be required to compensate the Principal for any and all sums owed by the Principal, and any and all damage. When goods are imported by the Contractor, the Principal cannot be designated as consignee for the application of VAT and customs legislation. The Contractor shall, within the boundaries define by VAT legislation, do all he can do to avoid that the Principal, as consignee or in whatever other capacity, would be required to pay import VAT or any other import charges whatsoever to the Belgian or foreign authorities. Neither can the import VAT be charged on to the Principal in any way.
Foreign Companies. 2.3.1. An official document issued by the country of incorporation bearing the company’s name, number and address.
2.3.2. A document (less than 3 months old at the date of application) containing the trade name and business address (e.g. utility xxxx, telephone account, bank statement, municipality rates or tax invoice).
2.3.3. An identity document or passport as set out in 1.1.1 and 1.
2.1 respectively in respect of the SA manager, all authorised representatives and all persons (natural and/or legal entities) holding 25% or more of the voting rights at a general meeting.
2.3.4. Applicable documents referred to in 2.1.1 & 2.1.2 or 2.2.1 & 2.2.2. or 2.3.1 & 2.3.2 or 2.4.1 in respect of persons (naturals and/or legal entities) holding 25% or more of the voting rights at a general meeting.
2.3.5. Proof of authority to act on behalf of the company (e.g. company resolution).
Foreign Companies. 12.1 The Company shall not be deemed to have made a disposal of its assets since incorporation under s185 TCGA (deemed disposal of assets on company ceasing to be resident in UK).
12.2 The Company shall not be liable under s187 TCGA (postponement of charge on deemed disposal under section 185) for the payment of the tax arising on a company which is not the Company ceasing to be resident in the United Kingdom.
Foreign Companies. (a) Each of the U.S. Shareholders, the N.Z. Shareholders and the Australian Company represents with respect to the U.S. Company, the N.Z. Company and the U.K. Company, respectively, that (i) except as set forth on Schedule 4.33, none of the Foreign Companies has any operations, any employees, any benefit plans related to any employees or any assets and (ii) none of the Foreign Companies has any accounts receivable, any accounts payable or any Debt.
(b) Each of the Shareholders represents to the best of his, her or its knowledge that there are no Sister Companies to the Australian Company, other than the Foreign Companies.
Foreign Companies. Companies formed under any laws other than those of the Philippines. FINANCIAL REGULATIONS. Financial Asymmetric information and adverse selection. MARGIN OF SOLVENCY. This margin of insolvency of insurance corporations shall be an excess of the value of its admitted assets exclusive of its paid up capital, in the case of a domestic company, or an excess of the value of its admitted assets in the Philippines. ADMITTED ASSETS. Admitted assets are assets that are allowed by the law to be part of assets that will be part of the bases in determining the financial conditions of the insurance company. Non-admitted assets are the assets that will not be allowed to be carried on the balance sheet of the insurance company. They are believed to be of marginal quality or of little liquidity for policy holders if the insurer should get into financial difficulty. DIVIDEND POLICY> The insurance code prohibits the declaration or distribution of dividends if the following are impaired
Foreign Companies. Send or otherwise transfer funds to the Foreign Companies in an aggregate amount in excess of $500,000 in any fiscal year, other than (i) intercompany trade transactions in the ordinary course of business and consistent with past practice; (ii) up to $400,000 to Harmony Trading; (iii) to Q.E.P. Xxxxxxx Mexicana, S. de X.X. de C.V. (including its’ predecessor company) in amounts not to exceed (a) $350,000 for operations in any calendar year and (b) $150,000 for inventory purchasing in any calendar year; and (iv) up to $200,000 to Q.E.P. Aust. Pty. Limited during the fiscal year ending February 28, 2010.
M. Section 7.2 is deleted in its entirety and replaced with the following:
Foreign Companies. Send or otherwise transfer funds to the Foreign Companies in an aggregate amount in excess of $500,000 in any calendar year, other than (i) intercompany trade transactions in the ordinary course of business and consistent with past practice, (ii) up to $300,000 to Harmony Trading; and (iii) to Xxxxxxx Mexicana S.A. de C.V. in amounts not to exceed (a) $350,000 for operations in any calendar year and (b) $150,000 for inventory purchasing in any calendar year.
M. Section 7.1 and 7.2 are hereby deleted and each is replaced with “Intentionally Omitted”.
N. Section 7.3 of the Loan Agreement is hereby deleted and replaced with the following:
Foreign Companies. 18 U.S. Government Policies....................................................18
Foreign Companies. 3.17.1 No notice of the making of a direction under ICTA s747 (Imputation of chargeable profits and creditable tax of controlled foreign companies) has been received by the Company and no circumstances exist which would entitle the Inland Revenue to make a direction and to apportion profits of a controlled foreign company to the Company under ICTA s752 (Apportionment of chargeable profits and creditable tax).
3.17.2 The Company, which is incorporated and resident in~the United Kingdom for corporation tax purposes, has not ceased to be so resident in accordance with a Treasury consent.
Foreign Companies. Send or otherwise transfer funds to the Foreign Companies in an aggregate amount in excess of $500,000 in any calendar year, other than (i) intercompany trade transactions in the ordinary course of business and consistent with past practice, (ii) up to $300,000 to Harmony Trading; and (iii) to Xxxxxxx Mexicana S.A. de C.V. in amounts not to exceed (a) $350,000 for operations in any calendar year and (b) $150,000 for inventory purchasing in any calendar year.
