Fund Repatriation Sample Clauses

Fund Repatriation. The Grantee understands that he or she must repatriate any proceeds from the sale of Shares acquired under the Plan and any dividends received in relation to the Shares to India and convert the proceeds into local currency within ninety (90) days of receipt. The Grantee will receive a foreign inward remittance certificate (“FIRC”) from the bank where he or she deposits the foreign currency. The Grantee should maintain the FIRC as evidence of the repatriation of fund in the event the Reserve Bank of India or the Company requests proof of repatriation. To participate in the Plan, the Grantee must comply with exchange control regulations in Italy. Transfer of funds in excess of a certain amount to or from Italy in connection with the Grantee's participation in the Plan may need to be reported in the Grantee's individual tax return. In addition, Shares held by the Grantee in excess of a certain value may need to be reported on the Grantee's individual tax return. The Grantee is urged to seek appropriate professional advice as to how the exchange control regulations apply to the Grantee's specific situation.
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Fund Repatriation. The Grantee understands that he or she must repatriate any proceeds from the sale of Shares acquired under the Plan to India and convert the proceeds into local currency within ninety (90) days of receipt. The Grantee will receive a foreign inward remittance certificate (“FIRC”) from the bank where he or she deposits the foreign currency. The Grantee should maintain the FIRC as evidence of the repatriation of fund in the event the Reserve Bank of India or the Company requests proof of repatriation. Foreign Exchange To participate in the Plan, the Grantee must comply with exchange control regulations in Italy. Transfer of funds in excess of a certain amount to or from Italy in connection with the Grantee's participation in the Plan may need to be reported in the Grantee's individual tax return. In addition, Shares held by the Grantee in excess of a certain value may need to be reported on the Grantee's individual tax return. The Grantee is urged to seek appropriate professional advice as to how the exchange control regulations apply to the Grantee's specific situation.
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Related to Fund Repatriation

  • Repatriation 1. Each Contracting Party shall guarantee to nationals or companies of the other Contracting Party the free transfer, on a nondiscriminatory basis, of their capital and the returns from any investments. The transfers shall be made in a freely convertible currency, without any restriction or undue delay. Such transfers shall include in particular, though not exclusively: (a) profits, capital gains, dividends, royalties, interest and other current income accruing from an investment; (b) the proceeds of the total or partial liquidation of an investment; (c) repayments made pursuant to a loan agreement in connection with an investment; (d) license fees in relation to the matters in Article l(l)(d); (e) payments in respect of technical assistance, technical service and management fees; (f) payments in connection with contracting projects; (g) earnings of nationals of the other Contracting Party who work in connection with an investment in the territory of the former Contracting Party. 2. Nothing in paragraph 1 of this Article shall affect the free transfer of compensation paid under Articles 6 and 7 of this Agreement.

  • Repatriation and Transfer 1. Each Party shall permit in good faith all transfers related to an investment to be made freely and without unreasonable delay into and out of its territory, such transfers include: (a) Returns, (b) Proceeds from the sale or liquidation of all or any part of an investment. (c) Compensation pursuant to Article III. (d) Reimbursements and interest payments deriving from loans in connection with investments. (e) Salaries, wages and other remunerations received by the nationals of one Party who have obtained in the territory of the other Party the corresponding work permits relative to an investment. (f) Payments arising from an investment dispute. 2. Transfer shall be made in the convertible currency in which the investment has been made or in any convertible currency at the rate of exchange in force at the date of transfer, unless otherwise agreed by the investor and the hosting Party.

  • Repatriation of Investment and Returns Each Contracting Party shall in respect of investments guarantee to nationals or companies of the other Contracting Party the unrestricted transfer of their investments and returns. Transfers shall be effected without delay in the convertible currency in which the capital was originally invested or in any other convertible currency agreed by the investor and the Contracting Party concerned. Unless otherwise agreed by the investor transfers shall be made at the rate of exchange applicable on the date of transfer pursuant to the exchange regulations in force.

  • City Contribution The City agrees to maintain health and dental benefits at present levels for the life of the Agreement.

  • Cash Proceeds In addition to the rights of the Collateral Agent specified in Section 4.3 with respect to payments of Receivables, all proceeds of any Collateral received by any Grantor consisting of cash, checks and other non-cash items (collectively, “Cash Proceeds”) shall be held by such Grantor in trust for the Collateral Agent, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such Grantor, unless otherwise provided pursuant to Section 4.4(a)(ii), be turned over to the Collateral Agent in the exact form received by such Grantor (duly indorsed by such Grantor to the Collateral Agent, if required) and held by the Collateral Agent in the Collateral Account. Any Cash Proceeds received by the Collateral Agent (whether from a Grantor or otherwise): (i) if no Event of Default shall have occurred and be continuing, shall be held by the Collateral Agent for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations (whether matured or unmatured) and (ii) if an Event of Default shall have occurred and be continuing, may, in the sole discretion of the Collateral Agent, (A) be held by the Collateral Agent for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations (whether matured or unmatured) and/or (B) then or at any time thereafter may be applied by the Collateral Agent against the Secured Obligations then due and owing.