Income Tax Rulings Sample Clauses

Income Tax Rulings. This amended agreement shall not become effective unless and until the Company shall have, received from the Minister of National Revenue, applicable provincial Treasury department and the Unemployment Insurance Commission a currently effective ruling or rulings, satisfactory to the Company holding that the amendment to the Plan accomplished hereunder does not modify, alter or change in any manner the ruling previously issued by the Minister, the Commission and the applicable Provincial Treasury department, with respect to the Plan, including particularly their determination that Company contributions to the Plan shall constitute a currently deductible expense and that such contributions are not taxable income to the Trust under the Canada Tax Act and applicable provincial and/or municipal Corporation Tax Acts, as now in effect, or as may be hereafter in effect, or under any other applicable Canadian or Provincial and/or Municipal income or Corporations Tax law.
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Income Tax Rulings. Cyclone shall use reasonable best efforts in promptly obtaining, and Hurricane shall use reasonable best efforts in supporting Cyclone in promptly obtaining, on behalf of Cyclone, prior to the Effective Time, tax rulings from the Cantonal Tax Administration of the Canton of Basel-Landschaft and the Federal Tax Administration providing that the Merger does not result in income Taxes for Cyclone (and, in particular, the recording of the newly issued Cyclone Shares in the Merger is not subject to income Taxes) and determining the income Tax consequences of the Merger for any Swiss resident shareholders of Hurricane (the "Income Tax Rulings"). Cyclone shall promptly provide Hurricane with all information and documents necessary in connection with obtaining the Income Tax Rulings and in furtherance thereof shall promptly inform Hurricane of any developments which may affect the ruling process. The Parties shall closely cooperate in obtaining the Income Tax Rulings and shall take the other Party's reasonable comments into account. Section 6.15
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Income Tax Rulings. Section 6.15 Swiss Tax Rulings. Section 6.16
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Income Tax Rulings. This amended Agreement shall not become effective unless and until the Company shall have received from the Minister of National Revenue and the applicable Provincial Treasury Department, a currently effective ruling or rulings, satisfactory to the Company, holding that the amendment of the Plan accomplished hereunder does not modify, alter, or change in any manner, the rulings previously issued by the Minister and applicable provincial Treasury Department, with respect to the Plan, including particularly their determination that Company contributions to the Plan shall constitute a currently deductible expense, and that such contributions are not taxable income to the trust under the Dominion Income Tax Act, applicable provincial and/or municipal Corporation Tax Acts, as now in effect, or as may be hereafter in effect, or under any other applicable Dominion or Provincial and/or Municipal Income or Corporations Tax law.
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Related to Income Tax Rulings

  • Tax Rulings Neither the Company nor any of its Subsidiaries has requested or is the subject of or bound by any private letter ruling, technical advice memorandum, or similar ruling or memorandum with any taxing authority with respect to any material Taxes, nor is any such request outstanding.

  • Tax Ruling The Assuming Institution shall not at any time, without the Receiver’s prior written consent, seek a private letter ruling or other determination from the Internal Revenue Service or otherwise seek to qualify for any special tax treatment or benefits associated with any payments made by the Receiver pursuant to this Single Family Shared-Loss Agreement.

  • Income Tax Matters (i) In order to comply with all applicable federal or state income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal or state payroll, withholding, income or other taxes, which are the sole and absolute responsibility of Participant, are withheld or collected from Participant.

  • Income Tax Treatment Employee and the Company acknowledge that it is the intention of the Company to deduct all amounts paid under Section 2 hereof as ordinary and necessary business expenses for income tax purposes. Employee agrees and represents that he will treat all such amounts as required pursuant to all applicable tax laws and regulations, and should he fail to report such amounts as required, he will indemnify and hold the Company harmless from and against any and all taxes, penalties, interest, costs and expenses, including reasonable attorneys' and accounting fees and costs, which are incurred by Company directly or indirectly as a result thereof.

  • Federal Income Tax Allocations Net income of the Trust for any month as determined for federal income tax purposes (and each item of income, gain, loss and deduction entering into the computation thereof) during which the beneficial ownership interests in the Trust are held by more than one Person shall be allocated:

  • Income Tax Allocations (a) Except as provided in this Section 4.3, each item of income, gain, loss and deduction of the Company for federal income tax purposes shall be allocated among the Members in the same manner as such items are allocated for Capital Account purposes under Section 4.1 and Section 4.2.

  • INCOME TAX RETURNS Borrower has no knowledge of any pending assessments or adjustments of its income tax payable with respect to any year.

  • Income Tax Withholding You must indicate on distribution requests whether or not federal tax should be withheld. Distribution requests without a federal withholding statement require the Custodian to withhold federal tax in accordance with IRS regulations. State withholding may also apply for distribution requests received without a withholding statement.

  • Federal Income Tax Matters The Certificateholders acknowledge that it is their intent and that they understand it is the intent of the Depositor and the Servicer that, for purposes of federal income, State and local income and franchise tax and any other income taxes, the Trust will be treated either as a disregarded entity under Treasury Regulation Section 301.7701-3 or as a partnership, and that the Certificateholders will be treated as partners in that partnership. The Certificateholders by acceptance of a Certificate agree to such treatment and agree to take no action inconsistent with such treatment. For each calendar quarter, other than periods in which there is only one Certificateholder:

  • Federal Income Tax Treatment It is the intention of the Trust Depositor that the Trust be disregarded as a separate entity for federal income tax purposes pursuant to Treasury Regulations Section 301.7701-3(b)(1)(ii) as in effect for periods after January 1, 1997. The Equity Certificate constitutes the sole equity interest in the Trust and must at all times be held by either the Trust Depositor or its transferee as sole Owner. The Trust Depositor agrees not to take any action inconsistent with such intended federal income tax treatment. Because for federal income tax purposes the Trust will be disregarded as a separate entity, Trust items of income, gain, loss and deduction for any month as determined for federal income tax purposes shall be allocated entirely to the Owner; provided, that this sentence shall not limit or otherwise affect the provisions of the Transaction Documents pertaining to distributions of Trust Assets or proceeds thereof to Persons other than the Trust Depositor.

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