GST and Sales Taxes Sample Clauses

GST and Sales Taxes. (a) The Purchase Price does not include GST. At Closing, Purchaser shall pay to Vendor by certified cheque or bank draft, an amount equal to seven percent (7%) of the portion of the Purchase Price allocated to Tangibles and Miscellaneous Interests pursuant to section 2.3, or a reallocation determined pursuant to subsection 9.2(c)(ii) on account of the GST payable by Purchaser in respect of its purchase of the Assets pursuant hereto. Vendor shall remit such amount to the appropriate taxation authorities in accordance with the GST Legislation. Each Party represents that it holds a valid GST registration account number at the date of Closing and that its registration number for GST purposes is: Vendor 89060 1966RT Purchaser 104997598RT (b) Purchaser shall also be solely liable for any and all sales and similar taxes imposed by provincial or federal legislation in respect of the purchase of the Assets pursuant hereto. If Vendor as agent of the Crown is required to collect such taxes, Purchaser shall pay the aggregate amount of such taxes to Vendor at Closing. Vendor shall remit such amount to the appropriate authorities in accordance with applicable legislation. (c) After Closing, Purchaser will be responsible for, and shall indemnify and save Vendor harmless in respect of, any amounts of GST and sales and similar taxes (including interest and penalties) in respect of the purchase and sale of the Assets pursuant hereto which are in excess of the amounts collected by Vendor from Purchaser at Closing.
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GST and Sales Taxes. (a) Purchaser shall be solely responsible for any GST, provincial and territorial sales tax and other taxes and governmental fees and charges (excluding income tax payable by Vendors) pertaining to Purchaser’s acquisition of the Assets (other than the Petroleum and Natural Gas Rights that are exempt from GST pursuant to subsection 162(2) of the GST Act) pursuant hereto and shall remit any such taxes, fees and charges not collected by Vendors pursuant to Section 2.9(b) or 2.9(c) and any interest and penalties payable in respect of such uncollected taxes, fees and charges to the applicable Governmental Authority according to Applicable Law. Prior to the Closing Time, Vendors, acting reasonably, will provide Purchaser with Vendors’ allocation by jurisdiction of the Base Purchase Price amongst the categories of Assets specified in Section 2.7 which are subject to provincial or territorial sales tax. (b) Purchaser shall pay to Vendors the GST payable in respect of the purchase of the Assets (other than any real property, on which Purchaser shall self-assess the applicable GST, and the Petroleum and Natural Gas Rights that are exempt from GST pursuant to subsection 162(2) of the GST Act) by Purchaser pursuant hereto which Vendors shall remit to the applicable Governmental Authority according to Applicable Law, and Vendors shall provide Purchaser with reasonable notice and evidence of the fact that such amounts were remitted on a timely basis. Each Party represents that its GST registration number is: DCC 10020 3223 RT0001 Devon MarketingCo 80678 0334 RT0001 Purchaser 12134 6357 RT0001 (c) In addition to any GST payable pursuant to Section 2.9(b), if, under Applicable Law, Vendors are required to collect any transfer Taxes, sales Taxes, use Taxes, harmonized sales Taxes, registration fees, duties, government filing or recording fees payable upon and in connection with the sale, assignment, conveyance and transfer of the Assets to the Purchaser, then Purchaser shall pay the amount of those taxes or fees to Vendors at Closing and Vendors shall cause those amounts to be remitted in the manner required by Applicable Law, and Vendors shall provide Purchaser with reasonable notice and evidence of the fact that such amounts were remitted on a timely basis. The failure of Vendors to collect any such amounts from Purchaser at Closing will not affect Purchaser’s liability for the payment thereof. (d) If the amount of any tax or fee referred to in this Section 2.9 is adjust...
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Related to GST and Sales Taxes

  • Sales Taxes The Seller shall bear and pay, and shall reimburse the Purchaser and the Purchaser’s affiliates for, any sales taxes, use taxes, transfer taxes, documentary charges, recording fees or similar taxes, charges, fees or expenses that may become payable in connection with the sale of the Assets to the Purchaser or in connection with any of the other Transactions.

  • New Taxes Any taxes not in effect as of the Effective Date enacted by a Governmental Authority or the Town, to be effective after the Effective Date with respect to All-Requirements Power Supply, or any Governmental Rule enacted and effective after the Effective Date resulting in application of any existing tax for the first time to Participating Consumers.

  • Sales Tax Each Participating Entity is responsible for supplying the Supplier with valid tax- exemption certification(s). When ordering, a Participating Entity must indicate if it is a tax- exempt entity.

  • Expenses; Taxes Except as otherwise provided in this Agreement, the parties shall pay their own fees and expenses, including their own counsel fees, incurred in connection with this Agreement or any transaction contemplated hereby. Any sales tax, stamp duty, deed transfer or other tax (except taxes based on the income of the Investor) arising out of the issuance of the Shares (but not with respect to subsequent transfers) by the Issuer to the Investor and consummation of the transactions contemplated by this Agreement shall be paid by the Issuer.

  • Sales and Transfer Taxes Seller and Purchaser shall be equally responsible for the payment of all transfer, recording, documentary, stamp, sales, use (including all bulk sales Taxes) and other similar Taxes and fees (collectively, the “Transfer Taxes”), that are payable or that arise as a result of the P&A Transaction, when due. Seller shall file any Tax Return that is required to be filed in respect of Transfer Taxes described in this Section 8.3 when due, and Purchaser shall cooperate with respect thereto as necessary.

  • Ad Valorem Taxes Prior to delinquency, Tenant shall pay all taxes and assessments levied upon trade fixtures, alterations, additions, improvements, inventories and personal property located and/or installed on or in the Premises by, or on behalf of, Tenant; and if requested by Landlord, Tenant shall promptly deliver to Landlord copies of receipts for payment of all such taxes and assessments. To the extent any such taxes are not separately assessed or billed to Tenant, Tenant shall pay the amount thereof as invoiced by Landlord.

  • Export Taxes Neither Party shall adopt or maintain any duty, tax, or other charge on the export of any good to the territory of the other Party, unless the duty, tax, or charge is also adopted or maintained on the good when destined for domestic consumption.

  • Transfer Taxes On the Closing Date, all stock transfer or other taxes (other than income or similar taxes) which are required to be paid in connection with the issuance, sale and transfer of the Securities to be sold to each Buyer hereunder will be, or will have been, fully paid or provided for by the Company, and all laws imposing such taxes will be or will have been complied with.

  • Conveyance Taxes The Company and Parent shall cooperate in the preparation, execution and filing of all returns, questionnaires, applications or other documents regarding any real property transfer or gains, sales, use, transfer, value added, stock transfer and stamp taxes, any transfer, recording, registration and other fees, and any similar taxes which become payable in connection with the transactions contemplated by this Agreement that are required or permitted to be filed on or before the Effective Time.

  • Goods and Services Tax (GST (a) For the purposes of clause 9:

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