Common use of Limited Distributions of Income on Property Clause in Contracts

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Certificate signed by the Chief Executive Officer and Chief Financial Officer of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 7 contracts

Samples: Investment Management Trust Agreement (Star Maritime Acquisition Corp.), Investment Management Trust Agreement (Star Maritime Acquisition Corp.), Investment Management Trust Agreement (Builder Acquisition Corp)

AutoNDA by SimpleDocs

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Certificate signed by the Chief Executive Officer and Chief Financial Officer of the Company certifying as true, accurate and complete that a copy of any tax return required to be filed payment is due (including an estimated payment) on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 4 contracts

Samples: Investment Management Trust Agreement (First Class Navigation CORP), Investment Management Trust Agreement (First Class Navigation CORP), Investment Management Trust Agreement (First Class Navigation CORP)

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Certificate signed by the Co-Chief Executive Officer and Chief Financial Officer of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 3 contracts

Samples: Investment Management Trust Agreement (Shanghai Century Acquisition Corp), Investment Management Trust Agreement (Shanghai Century Acquisition Corp), Investment Management Trust Agreement (Shanghai Century Acquisition Corp)

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Officers’ Certificate signed by the Chief Executive Officer and Chief Financial Officer of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 2 contracts

Samples: Investment Management Trust Agreement (TransTech Services Partners Inc.), Investment Management Trust Agreement (TransTech Services Partners Inc.)

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Certificate signed by the Chief Executive Officer and Chief Financial Operating Officer of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 2 contracts

Samples: Investment Management Trust Agreement (Doubloon Corp.), Investment Management Trust Agreement (Doubloon Corp.)

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officerofficer’s Certificate signed certificate executed by the Chief Executive Officer and the Chief Financial Officer of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 2 contracts

Samples: Investment Management Trust Agreement (Seanergy Maritime Corp.), Investment Management Trust Agreement (Seanergy Maritime Corp.)

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Certificate signed by the Chief Executive Officer and Chief Financial Officer of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; providedprovided , howeverhowever , that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 2 contracts

Samples: Investment Management Trust Agreement (Energy Infrastructure Acquisition Corp.), Investment Management Trust Agreement (Energy Infrastructure Acquisition Corp.)

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Certificate signed by either of the Co-Chief Executive Officer and Chief Financial Officer Officers of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 2 contracts

Samples: Investment Management Trust Agreement (Argyle Security Acquisition CORP), Investment Management Trust Agreement (Argyle Security Acquisition CORP)

AutoNDA by SimpleDocs

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Certificate signed by either of the Chief Executive Officer Chairman of the Board or President and Chief Financial Officer of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 1 contract

Samples: Investment Management Trust Agreement (Phoenix India Acquisition Corp.)

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s 's Certificate signed by the Chief Executive Officer and Chief Financial Officer of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; providedprovided , however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 1 contract

Samples: Investment Management Trust Agreement (Alpha Security Group CORP)

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Certificate signed by the Chief Executive Officer and Chief Financial Officer Chairman of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 1 contract

Samples: Investment Management Trust Agreement (Beverage Acquisition CORP)

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s 's Certificate signed by the Chief Executive Officer and Chief Financial Officer of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing.

Appears in 1 contract

Samples: Investment Management Trust Agreement (Star Maritime Acquisition Corp.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!