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

Limited Distributions of Income on Property. (a) If there is any income tax obligation relating to the income from the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter), out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes.

Appears in 7 contracts

Samples: Investment Management Trust Agreement (Asia Special Situation Acquisition Corp), Investment Management Trust Agreement (Lank Acquisition Corp), Investment Management Trust Agreement (Asia Special Situation Acquisition Corp)

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Limited Distributions of Income on Property. (a) If there is any federal, state or local income tax obligation relating to the income from of the Company (including Property in of the Trust Account), then, at the written instruction of the Company, the Trustee shall disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter)transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes.; and

Appears in 5 contracts

Samples: Investment Management Trust Agreement (Middle Kingdom Alliance Corp.), Investment Management Trust Agreement (Middle Kingdom Alliance Corp.), Investment Management Trust Agreement (Middle Kingdom Alliance Corp.)

Limited Distributions of Income on Property. (a) If there is any income tax obligation relating to the income from the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter), out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxestaxes and disburse to the Company by wire transfer out of the Property in the Trust Account, the amount indicated by the Company as owing in respect of such income tax.

Appears in 2 contracts

Samples: Investment Management Trust Agreement (Camden Learning CORP), Investment Management Trust Agreement (Camden Learning CORP)

Limited Distributions of Income on Property. (a) If there is any income income, franchise or other tax obligation relating to owed by the income from Company, as determined by the Property in the Trust AccountCompany, then, from time to time, at the written instruction of the Company, the Trustee shall promptly to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, liquidate such assets held in the Trust Account as shall be designated by the Company in writing, and disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter)transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay owing in respect of such income taxestax obligation.

Appears in 2 contracts

Samples: Investment Management Trust Agreement (Hambrecht Asia Acquisition Corp.), Investment Management Trust Agreement (Hambrecht Asia Acquisition Corp.)

Limited Distributions of Income on Property. (a) If there is any income tax obligation relating to the income from the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter), out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes.

Appears in 2 contracts

Samples: Investment Management Trust Agreement (Asia Special Situation Acquisition Corp), Investment Management Trust Agreement (Asia Special Situation Acquisition Corp)

Limited Distributions of Income on Property. (a) If there is any income or other tax obligation relating to owed by the income from Company, as determined by the Property in the Trust AccountCompany, then, from time to time, at the written instruction of the Company, the Trustee shall promptly to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, liquidate such assets held in the Trust Account as shall be designated by the Company in writing, and disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter)transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay owing in respect of such income taxestax obligation.

Appears in 1 contract

Samples: Investment Management Trust Agreement (Hambrecht Asia Acquisition Corp.)

Limited Distributions of Income on Property. (a) If there is any income tax obligation relating to the income from on the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter)transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes.

Appears in 1 contract

Samples: Investment Management Trust Agreement (JK Acquisition Corp.)

Limited Distributions of Income on Property. (a) If there is any income tax obligation relating to the income from the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter)transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes.

Appears in 1 contract

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

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Limited Distributions of Income on Property. (a) If there is any income tax obligation relating to the income from the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter), out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxestaxes and disburse to the Company by wire transfer out of the Property in the Trust Account, the amount indicated by the Company as owing in respect of such income tax.

Appears in 1 contract

Samples: Investment Management Trust Agreement (Camden Learning CORP)

Limited Distributions of Income on Property. (a) If there is any income tax obligation relating to be paid by the income from Company, then upon receipt by the Property in Trustee of a written request executed by the Trust Account, then, at Chief Executive Officer and the written instruction Chief Financial Officer of the Company, the Trustee shall disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter)transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay income such taxes.

Appears in 1 contract

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

Limited Distributions of Income on Property. (a) If there is any income tax obligation relating to the income from the Property in the Trust Account, or if there is any franchise or other tax obligation to which the Company is subject, then, at the written instruction of the Company, the Trustee shall disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter), out of the Property in the Trust Account, the amount indicated by the Company as required to pay income such income, franchise or other taxes.

Appears in 1 contract

Samples: Investment Management Trust Agreement (United Refining Energy Corp)

Limited Distributions of Income on Property. (a) If there is any income tax obligation relating to the income from the Property in the Trust Account, or if there is any franchise or other tax obligation to which the Company is subject, then, at the written instruction of the Company, the Trustee shall disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter)Company, out of the Property in the Trust Account, the amount indicated by the Company as required to pay income income, franchise or other taxes and disburse to the Company by wire transfer out of the Property in the Trust Account, the amount indicated by the Company as owing in respect of such taxes.

Appears in 1 contract

Samples: Investment Management Trust Agreement (FMG Acquisition Corp)

Limited Distributions of Income on Property. (a) If there is any income or other tax obligation relating to the income from the Property in the Trust AccountAccount as determined by the Company, then, from time to time, at the written instruction of the Company, the Trustee shall promptly to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, liquidate such assets held in the Trust Account as shall be designated by the Company in writing, and disburse to the Company or the Internal Revenue Service by wire transfer or check (as directed by the Company in its instruction letter)transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay owing in respect of such income taxes.tax obligation; and

Appears in 1 contract

Samples: Investment Management Trust Agreement (InterAmerican Acquisition Group Inc)

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