Common use of GST Adjustments Clause in Contracts

GST Adjustments. ‌ Notwithstanding any other provision of this Agreement, in the event that, as a result of a breach, modification or termination of this Agreement at any time, an amount is to be paid or forfeited (otherwise than as consideration for a supply under this Agreement) by a Party, or a debt or other obligation is to be reduced or extinguished without payment by the Party on account of the debt or obligation and section 182 of the Excise Tax Act (Canada), or any applicable provincial legislation applies to the amount to be paid, forfeited, reduced or extinguished, as the case may be, the amount shall be increased by an amount equal to the product of the aggregate of the GST percentage rate plus the amount of any applicable provincial rate multiplied by the amount otherwise payable and the payor shall pay the increased amount.

Appears in 3 contracts

Samples: Renewable Electricity Support Agreement, Renewable Electricity Support Agreement, Renewable Electricity Support Agreement

AutoNDA by SimpleDocs

GST Adjustments. Notwithstanding any other provision of this Agreement, in the event that, as a result of a breach, modification or termination of this Agreement at any time, an amount is to be paid or forfeited (otherwise than as consideration for a supply under this Agreement) by a Party, or a debt or other obligation is to be reduced or extinguished without payment by the Party on account of the debt or obligation and section 182 of the Excise Tax Act (Canada), or any applicable provincial legislation applies to the amount to be paid, forfeited, reduced or extinguished, as the case may be, the amount shall be increased by an amount equal to the product of the aggregate of the GST percentage rate plus the amount of any applicable provincial rate multiplied by the amount otherwise payable and the payor shall pay the increased amount.

Appears in 2 contracts

Samples: Renewable Electricity Support Agreement, Renewable Electricity Support Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!