Perstorp Railite Sample Clauses

Perstorp Railite. (a) Components Spain is and has been eligible for the benefits stated by Art. 14 of the Local Law 18/1993, of July 5, of the Historic Land of Alava (Xxxxx Xxxxx 18/1993, de 0 xx xxxxx, del Territorio Hist(cent)rico xx Xxxxx de medidas fiscales urgentes de apoyo a la inversi(cent)n e impulso de la actividad econ(cent)mica ("Local Law 18/1993")). Components Spain has duly obtained the exemption from Corporate Tax stated by Art. 14 of the Local Law 18/1993 (the "Exemption"), has fulfilled at all times the requirements set forth in order to be entitled to such Exemption and is fulfilling such requirements at Completion. Specifically, Components Spain has not obtained any other tax benefit which is not compatible with the Exemption. (b) Components Spain has duly obtained a grant ("Subvencion") from the Basque Government for the amount of 432 million pesetas. Components Spain has fulfilled and is fulfilling all the requirements, terms and conditions set forth by the Basque Government in order to obtain 289 million pesetas pursuant to such Subvencion and Components Spain has delivered to the Basque Government the necessary documentation to entitle Components Spain to obtain such payment of such Subvencion. The Subvencion is duly recorded in the books of Components Spain in accordance with Local GAAP. (c) Paragraph 14.12 (a) will be applied by including, in addition to VAT Legislation, the following: corporation tax legislation ("Corporation Tax Legislation") and income tax on individuals legislation ("Income Tax on Individuals Legislation"), and Paragraph 14.12(b) will be applied by including, in addition to VAT Legislation, the following: Corporation Tax Legislation and Income Tax on Individuals Legislation.
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