Non-Payment of Taxes Clause Samples
The Non-payment of Taxes clause establishes the obligations and consequences related to a party's failure to pay required taxes under an agreement. Typically, this clause specifies that if a party does not fulfill its tax payment responsibilities, the other party may have the right to seek reimbursement, impose penalties, or even terminate the contract. For example, if a service provider fails to pay sales tax on transactions, the client may be entitled to recover any resulting costs. The core function of this clause is to allocate risk and ensure that tax liabilities are properly managed, protecting parties from unexpected financial exposure due to another's non-compliance.
Non-Payment of Taxes. If the property owner does not pay property taxes, either in whole or in part, the lack of taxes received will cause a lack of tax increments. The Minnesota system of collecting delinquent property taxes is a lengthy one that could result in substantial delays in the receipt of taxes and tax increments, and there is no assurance that the full amount of delinquent taxes would be collected. Amounts distributed to taxing jurisdictions upon a sale following a tax forfeiture of the property are not tax increments.
Non-Payment of Taxes. Either Borrower or any other Loan Party shall have failed to pay when due any Taxes or other charges of any Governmental Authority in excess of $250,000, except any such Taxes or other charges which are being diligently contested by it in good faith by appropriate proceedings which stay the enforcement of any Lien resulting from the non-payment thereof and for which adequate reserves in accordance with GAAP shall have been set aside on its books.
Non-Payment of Taxes. Any Loan Party or any Subsidiary of any Loan Party (other than any Unrestricted Timber Subsidiary) shall have failed to pay when due any Taxes or other charges of any Governmental Authority in excess of (a) the Material Threshold, in the aggregate, with respect to the Loan Parties and the Subsidiaries of the Loan Parties (other than any Unrestricted Timber Subsidiaries) or (b) $5,000,000, individually, except any such Taxes or other charges which are being diligently contested by it in good faith by appropriate proceedings which stay the enforcement of any Lien resulting from the non-payment thereof and for which adequate reserves in accordance with GAAP shall have been set aside on its books.
Non-Payment of Taxes. 9.1.2.1 The Issuer does not pay on its due date any amount of taxes, duties, charges and or other payments imposed by any tax or other relevant authority, including all adjustments, penalties, fines and interest, which the Issuer is required to pay, withhold or collect and which exceeds 1% (one percent) of Issuer's assets, unless payment is made within 30 (thirty) days of its due date.
9.1.2.2 In case of tax reassessment by exceeding the amount specified in Clause 9.1.2.1, the reassessment of tax administration is not contested in good faith within the statutory timeframe or the decision of the tax administration is final.
Non-Payment of Taxes. The Borrowers and their Subsidiaries shall have failed to pay when due any taxes or other governmental charges in excess of an aggregate amount of $100,000, except any such taxes or other governmental charges which are being diligently contested by them in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP shall have been set aside on their books.
Non-Payment of Taxes. Within the past five years, in respect of the Applicant, (or any member of your proposed consortium, if applicable, or any entity being relied upon for the purposes of section 3.10 of the PQQ) Please indicate your answer by marking ‘X’ in the relevant box.
Non-Payment of Taxes. Failure by Borrower to make the payments required by SECTION 5.8; or
Non-Payment of Taxes. Non-payment of any Taxes, or any assessments or governmental charges levied upon it or against its properties, revenues and assets by the date on which such Taxes, assessments or charges attached thereto, which are not contested in good faith by the Borrower, or after the lapse of any grace period that may have been granted to the Borrower by the Bureau of Internal Revenue or any other Philippine tax body or authority, and which will materially affect the ability of the Borrower to perform its obligations under this Agreement.
Non-Payment of Taxes. Holdings shall have failed to pay when due any taxes or other governmental charges in excess of $100,000, except any such taxes or other governmental charges which are being diligently contested by it in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP shall have been set aside on its books.
Non-Payment of Taxes. 9.1.2.1 The Issuer does not pay on its due date any amount of taxes, duties, charges and or other payments imposed by any tax or other relevant authority, including all adjustments, penalties, fines and interest, which the Issuer is required to pay, withhold or collect and which exceeds [●]% ([●] percent) of Issuer's assets, unless payment is made within 30 (thirty) days of its due date.
9.1.2.2 In case of tax reassessment by exceeding the amount specified in Clause 9.1.2.1, the reassessment of tax administration is not contested in good faith within the statutory timeframe or the decision of the tax administration is final.