Payments to Tax Authorities. Notwithstanding anything to the contrary in this Agreement, the Company shall withhold and pay over to tax authorities amounts with respect to any allocation, payment or distribution to the Company or the Members required in accordance with the Code (including, but not limited to, Section 1446 of the Code) or any provision of any state, local or foreign law. Any amounts withheld and paid to a tax authority on behalf of a Member in accordance with this Section 5.04 shall be treated for all purposes of this Agreement as amounts distributed to that Member. The Company is expressly authorized to withhold from payments and distributions or with respect to allocations to the Members and pay over to any federal, state, local or foreign government any amounts required to be withheld in accordance with applicable law.
Payments to Tax Authorities. Each Party is solely responsible for payment of all their respective taxes required in connection with the operations of each entity's travel agency business.
Payments to Tax Authorities. Notwithstanding anything to the contrary in this Agreement, the Company shall withhold such amounts as may be required pursuant to the Code (including Section 1446 thereof), Treasury Regulations or any provision of any state, local or foreign law with respect to any payment, distribution or allocation of income to the Members and such withheld amounts shall be treated for all purposes of this Agreement as amounts distributed pursuant to Article V or Article IX to the Members to which such withholdings are attributable and distributions to be made to such Members shall be reduced by the amount so withheld. The Company shall pay over to any federal, state, local or foreign government any amounts required to be so withheld in accordance with applicable law.
Payments to Tax Authorities. Notwithstanding anything to the contrary in this Agreement, the Company shall withhold such amounts as may be required pursuant to the Code or any provision of any state, local or foreign law with respect to any payment, distribution or allocation of income to the Members and such withheld amounts shall be treated for all purposes of this Agreement as amounts distributed in accordance with Section 4.01 to the Members to which such withholdings are attributable. The Company shall pay over to any federal, state, local or foreign government any amounts required to be so withheld in accordance with applicable law.
Payments to Tax Authorities. Notwithstanding anything to the contrary in this Agreement, the Company shall withhold such amounts as may be required pursuant to the Code (including Section 1446 thereof), Treasury Regulations or any provision of any state, local or foreign law with respect to any payment, distribution or allocation of income to the Members and such withheld amounts shall be treated for all purposes of this Agreement as amounts distributed pursuant to Article V or Article IX to the Members to which such withholdings are attributable and distributions to be made to such Members shall be reduced by the amount so withheld. If the Company is required to withhold and pay over to a taxing authority amounts on behalf of a Member exceeding available amounts then remaining to be distributed to such Member, the Company shall provide the Member with written notice of such shortfall and, to the extent that the Member does not reimburse the Company for such excess amount or such withholding requirement, as the case may be, within five (5) business days of receiving such notice, the unreimbursed portion of such payment by the Company shall constitute a loan to such Member that is repayable by the Member on demand of the Company, together with interest at a rate of fifteen percent (15%) or the maximum rate permitted under applicable law, whichever is less, calculated upon the outstanding principal balance of such loan. Any such loan shall be repaid to the Company, in whole or in part, as determined by the Company in its sole discretion, either (i) out of any distributions from the Company which the Member is (or becomes) entitled to receive, or (ii) by the Member in cash (said Member bearing all of the Company's costs of collection, including reasonable attorney's fees, if payment is not remitted promptly by the Member after a demand for payment). Each Member shall, to the fullest extent permitted by applicable law, indemnify and hold harmless the Company and the other Members against all claims, liabilities and expenses of whatever nature relating to the Company's obligation to withhold and to pay over, or otherwise pay, any Company withholding taxes with respect to such Member or as a result of such Member's participation in the Company. The Company shall pay over to any federal, state, local or foreign government any amounts required to be so withheld in accordance with applicable law.
Payments to Tax Authorities. With respect to each Tax Return that a Company is required to prepare and file under this Agreement, such Company shall pay, or cause to be paid, to the applicable Tax Authority when due (including extensions) all Taxes determined to be due and payable.
Payments to Tax Authorities. Notwithstanding anything to the contrary in this Agreement, the
Payments to Tax Authorities. Notwithstanding anything to the contrary in this Agreement, the Company shall withhold such amounts as may be required pursuant to the Code (including §1446 thereof), the Regulations or any provision of any state, local or foreign law with respect to any payment, distribution or allocation of income to the Members and such withheld amow1ts shall be treated for all purposes of this Agreement as amounts distributed to the Members to which such withholdings are attributable and reduce amounts otherwise distributable to said Member as quickly as possible. The Company shall pay over to any federal, state, local or foreign government any amounts required to be so withheld in accordance with applicable law.
Payments to Tax Authorities. Referring Agency is solely responsible for payment of all applicable Income and Social Security taxes, as well as all taxes required in connection with the operations of Referring Agency’s travel agency business. As such, Company will not withhold Federal or State Withholding Tax nor withhold Social Security Tax (FICA) from the amounts paid to the Referring Agency. Company will submit to the Internal Revenue Service a 1099 form on or before January 31 on behalf of Referring Agency. For tax reporting and payment purposes, Referring Agency shall not take any position or make any statements inconsistent with this independent contractor status, since such characterization is the intent of both parties to this Agreement In the event of future legislation where Company is required to set aside funds for Referring Agency’s anticipated income tax, Referring Agency shall be responsible for reimbursement to Company.
Payments to Tax Authorities. All Taxes that the Company and the Subsidiary withheld from payments made to their Employees, officers and directors shall have been remitted within the prescribed periods to be appropriate Governmental Authorities.
