Common use of Insurance Expense: Taxes Clause in Contracts

Insurance Expense: Taxes. Clients shall pay directly the cost of the insurance coverage required to be maintained by Clients under Section 9; provided, that, Clients may elect to have MSG bear the cost of such insurance, to be billed in accordance with Section 8.5 and “Exhibit D – Allocation Agreement Among Owner and Operator to the Non-Exclusive Aircraft Dry Lease Agreement” between the Clients. Clients shall be responsible for the payment of any Federal, state, local or other governmental taxes, charges or assessments imposed in connection with this Agreement, other than income or franchise taxes imposed on MSG, and shall reimburse MSG for any such tax, charge or assessment which is imposed on it by any governmental agency. Clients shall be responsible to MSG for one hundred percent (100%) of any IRC Section 4261 Federal Transportation Excise Taxes (including any penalties or interest) if imposed by the Internal Revenue Service with respect to any services provided or payments made under this Agreement. The provisions of this Section 8.2 will survive the termination or expiration of this Agreement.