OWNERSHIP FOR TAX PURPOSES. Seller agrees that, for purposes of federal and other taxes based on income, Seller will be treated as the owner of the Escrow Fund and that Seller will report all income, if any, that is earned on, or derived from, the Escrow Fund as its income in the taxable year or years in which such income is properly includible and pay any taxes attributable thereto.
Appears in 5 contracts
Samples: Asset Purchase Agreement (LMP Automotive Holdings, Inc.), Asset Purchase Agreement (LMP Automotive Holdings, Inc.), Stock Purchase Agreement (Florida Gaming Corp)
OWNERSHIP FOR TAX PURPOSES. Seller agrees that, for purposes of federal and other taxes based on income, Seller will be treated as the owner of the Escrow Fund and that Seller will report all income, if any, that is earned on, or derived from, the Escrow Fund as its income in the taxable year or years in which such income is properly includible and pay any taxes attributable attrib- utable thereto.
Appears in 2 contracts
Samples: Noncompetition, Nondisclosure and Nonsolicitation Agreement, Noncompetition, Nondisclosure and Nonsolicitation Agreement
OWNERSHIP FOR TAX PURPOSES. Seller agrees that, for purposes of federal and other taxes based on income, Seller will be treated as the owner of the Escrow Fund Fund, and that Seller will report all income, if any, that is earned on, or derived from, the Escrow Fund as its income in the taxable year or years in which such income is properly includible and pay any taxes attributable thereto.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Hydrochem International Inc), Escrow Agreement (Hydrochem International Inc)
OWNERSHIP FOR TAX PURPOSES. Purchaser and Seller agrees thatagree that Seller, for purposes of federal and other taxes based on income, Seller will be treated as the owner of the Escrow Fund Fund; however, Seller and that Seller Purchaser will report all income, if any, that is earned on, or derived from, the Escrow Fund and which each receives as its income income, respectively, in the taxable year or years in which such income is properly includible included and pay any taxes attributable thereto. This understanding does not affect the rights of the parties to the Escrow Fund under the Purchase Agreement.
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OWNERSHIP FOR TAX PURPOSES. Seller agrees that, for purposes of federal and other taxes based on income, Seller will be treated as the owner of the Escrow Fund Deposit and that Seller will report all income, if any, that is earned on, or derived from, the Escrow Fund Deposit as its income in the taxable year or years in which such income is properly includible and pay any taxes attributable thereto.
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