Common use of GST Election Clause in Contracts

GST Election. On the Closing Date the Purchaser and the Vendor shall make a joint election contemplated under section 167 of the EXCISE TAX ACT (Canada). Purchaser shall file such election in the manner and within the time prescribed by the said Act and shall indemnify and hold harmless Vendor from and against any Losses suffered by Vendor in the event such election has not been validly made or filed.

GST Election. On At the Closing Date the Closing, Seller and Purchaser and the Vendor shall make a joint execute jointly an election contemplated under section Section 167 of the EXCISE TAX ACT Excise Tax Act (Canada). ) to have the sale of the Purchased Assets take place on a GST-free basis under Part IX on the Excise Tax Act (Canada) and Purchaser shall file such election with its GST return for the reporting period in which the manner and within sale of the time prescribed by the said Act and shall indemnify and hold harmless Vendor from and against any Losses suffered by Vendor in the event such election has not been validly made or filedPurchased Assets takes place.

GST Election. On At the Closing Date Closing, the Vendor and the Purchaser and the Vendor shall make a joint execute jointly an election contemplated under section 167 of the EXCISE TAX ACT Excise Tax Act (Canada). ) to have the sale of the Purchased Assets take place on a GST-free basis under Part IX of the Excise Tax Act (Canada) and the Purchaser shall file such election with its GST return for the reporting period in which the manner and within sale of the time prescribed by the said Act and shall indemnify and hold harmless Vendor from and against any Losses suffered by Vendor in the event such election has not been validly made or filedPurchased Assets takes place.