Common use of Income Tax Election Clause in Contracts

Income Tax Election. The Buyer and the Seller agree to jointly elect in the prescribed form under Section 22 of the Tax Act as to the sale of all accounts receivable, trade accounts, notes receivable, book debts and other debts due or accruing due to the Seller and forming part of the Acquired Assets and described in Section 22 of the Tax Act, and to designate in such election an amount equal to the portion of the Purchase Price allocated to such assets pursuant to Section 2(f) hereof as the consideration paid by the Buyer therefor.

Income Tax Election. The Buyer and the Seller agree to elect jointly elect in the prescribed form under Section 22 of the Tax Act (and any similar provision of provincial law as necessary) as to the sale of all the accounts receivable, trade accounts, notes receivable, book debts receivable and other debts due or accruing due to the Seller and forming part of the Acquired Assets and assets described in Section 22 of the Tax Act, Act (and any similar provision of provincial law as necessary) and to designate in such election an amount equal to the portion of the Purchase Price allocated to such assets pursuant to Section 2(f) hereof 1.7 as the consideration paid by the Buyer therefor.

Income Tax Election. The Buyer Purchasers and the Seller Vendor agree to elect jointly elect in the prescribed form under Section 22 of the Tax Act as to the sale of all the accounts receivable, trade accounts, notes receivable, book debts receivable and other debts due or accruing due assets which are referred to the Seller and forming part of the Acquired Assets in Section 2.1 and described in Section 22 of the Tax Act, Act and to designate in such election an amount equal to the portion of the Purchase Price allocated to such assets pursuant to Section 2(f3.5(a) hereof as the consideration paid by the Buyer Purchasers therefor.

Income Tax Election. The Buyer Purchaser and the Seller Vendor agree to elect jointly elect in the prescribed form under Section section 22 of the Tax Act as to the sale of all the accounts receivable, trade accounts, notes receivable, book debts receivable and other debts due or accruing due assets that are referred to the Seller and forming part of the Acquired Assets in subsection 2.1(f) and described in Section section 22 of the Tax Act, Act and to designate in such election an amount equal to the portion of the Purchase Price allocated to such assets pursuant to Section 2(f) hereof section 3.5 as the consideration paid by the Buyer Purchaser therefor.

Income Tax Election. The Buyer Purchaser and the Seller Vendor agree to elect jointly elect in the prescribed form under Section 22 of the Tax Act as to the sale of all the accounts receivable, trade accounts, notes receivable, book debts receivable and other debts due or accruing due assets that are referred to the Seller and forming part of the Acquired Assets in subsection 2.01(e) and described in Section 22 of the Tax Act, Act and to designate in such election an amount equal to the portion of the Purchase Price allocated to such assets pursuant to Section 2(f) hereof 3.04 as the consideration paid by the Buyer Purchaser therefor.