GST Election. Seller agrees to jointly elect with the Buyer under section 167 of the Excise Tax Act (Canada) to have subsection 167(1.1) of the Excise Tax Act (Canada) applied to the sale under this Agreement. Buyer will file such elections in the manner and within the time prescribed by the Excise Tax Act (Canada).
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Samples: Purchase Agreement (Powell Industries Inc), Purchase Agreement (Powell Industries Inc)
GST Election. Buyer and Seller agrees shall elect jointly pursuant to jointly elect with the Buyer under section 167 provision of the Excise Tax Act (Canada) to have subsection 167(1.1167.(1.1) of the Excise Tax Act (Canada) applied to the sale under this Agreement. Buyer will file by completing and filing all prescribed forms and related documents in such elections in the manner and within at such time as is prescribed, that for the time prescribed by purposes of such Act, no tax is payable under such Act in respect of the Excise Tax Act (Canada)Purchased Assets and the Buyer shall be deemed to have acquired the Purchased Assets for use exclusively in commercial activities of the Buyer.
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GST Election. Seller Each of the Sellers agrees to jointly elect with the Buyer under section 167 of the Excise Tax Act (Canada) to have subsection 167(1.1) of the Excise Tax Act (Canada) applied to the sale under this Agreement. Buyer will file such elections in the manner and within the time prescribed by the Excise Tax Act (Canada).
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