Common use of GST/HST Clause in Contracts

GST/HST. a) Subject to Schedule “H” attached hereto the Vendor and Purchaser agree that the Purchase Price (but not any Adjustments, upgrades and/or extras on which the Purchaser agrees to pay GST/HST in accordance with the relevant legislation) includes GST/HST payable in respect of this transaction and the Vendor shall, subject to Subsection 2.7(c) remit the GST/HST out of the Purchase Price on behalf of the Purchaser. For the purposes of this Agreement “GST/HST” means the tax payable under Section 165 of the Excise Tax Act (Canada) including the provincial component thereof payable under Subsection 165(2), if applicable. The parties acknowledge that the provincial component of the GST/HST will apply to the within purchase and sale if this Agreement is completed and both ownership and possession of the Property is transferred to the Purchaser after June 30, 2010.

GST/HST. a) Subject to Schedule “H” attached hereto the Vendor and Purchaser agree that the Purchase Price (but not any Adjustmentsadjustments, upgrades and/or extras on which the Purchaser agrees to pay GST/HST in accordance with the relevant legislation) includes GST/HST payable in respect of this transaction and the Vendor shall, subject to Subsection Subparagraph 2.7(c) remit the GST/HST out of the Purchase Price on behalf of the Purchaser. For the purposes of this Agreement “GST/HST” means the tax payable under Section 165 of the Excise Tax Act (Canada) including the provincial component thereof payable under Subsection 165(2), if applicable. The parties acknowledge that the provincial component of the GST/HST will apply to the within purchase and sale if this the Agreement is completed and both ownership and possession of the Property property is transferred to the Purchaser after June 30, 2010.