PREFERENTIAL TAX TREATMENTS Sample Clauses

PREFERENTIAL TAX TREATMENTS. Shanghai Control Tech has been granted with preferential tax treatments by the PRC government authorities before the signing of this Agreement, namely "two years full exemption and succeeding three years 50% deduction" for corporate income tax. Such preferential tax treatments will continue to be enjoyed by Shanghai Control Tech after Completion, and the signing and completion of this Agreement and all agreements which are necessary for the fulfillment of the condition precedent mentioned in CLAUSE 3.1 (A) will not affect such enjoyment. SCHEDULE 4 KEY MANAGEMENT TEAM Persons of the Key Management Team : (1) General Manager, Mx. Xxx XxxX (2) Deputy General Mxxxxx, Mx. Xx Xxxxxxx. Sch 4 SCHEDULE 5 PROPORTION FOR PAYMENT OF CONSIDERATION ---------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4) (5) NAME OF THE NUMBER OF THE SHAREHOLDING NUMBER OF SHARING RATIO FOR VENDORS RELEVANT SALE PERCENTAGE OF THE CONSIDERATION CLAUSES 6.2 AND 7 SHARES TO BE RELEVANT SALE SHARES TO BE SOLD AT SHARES ISSUED AND ALLOTTED COMPLETION FOR THE RELEVANT SALE SHARES ---------------------------------------------------------------------------------------------------------------- Lx Xxxxxxx 3 Shares 30% 5,876,662 30% Consideration Shares ---------------------------------------------------------------------------------------------------------------- Rxx Xx 4 Shares 40% 7,835,551 40% Consideration Shares ---------------------------------------------------------------------------------------------------------------- Wxxx Xxxxxx 3 Shares 30% 5,876,662 Consideration 30% Shares ---------------------------------------------------------------------------------------------------------------- 10 Shares 100% 19,588,875 100% Total : Consideration Shares ---------------------------------------------------------------------------------------------------------------- Sch 5 ANNEXURE 1 TAX INDEMNITY DATED THE ____ DAY OF ___________ 2005 LI YXXXXXX XXX QX XXXX SXXXXX and HARTCOURT CAPITAL, INC. and BESTEFFORT INVESTMENTS LIMITED and CONTROL TECH COMPANY LIMITED and ------------------------------------ DEED OF INDEMNITY IN RESPECT OF TAXATION ------------------------------------ Annex 1 - P.1 THIS DEED OF INDEMNITY is made the day of 2005 BY:- 1. LX XXXXXXX (Holder of PRC Passport Number G00000000) of Room 1409, Shanghai Mart, Nx.0000, Xxx'xx Xxxx (Xxxx), Xxxxxxxx 000000, People's Republic of China ("MX. XX"); 2. RXX XX (Holder...
Sample 1
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PREFERENTIAL TAX TREATMENTS. The Company shall make commercially reasonably efforts to obtain all preferential tax treatments available under current and future tax Laws of the PRC to the extent applicable to the business of the Group Companies.
Sample 1

Related to PREFERENTIAL TAX TREATMENTS

  • Special Tax Treatment Capital gains treatment and 10-year forward income averaging authorized by IRC Sec. 402 do not apply to IRA distributions.

  • Intended Tax Treatment Notwithstanding anything to the contrary herein or in any other Transaction Document, all parties to this Agreement covenant and agree to treat each Loan under this Agreement as debt (and all Interest as interest) for all federal, state, local and franchise tax purposes and agree not to take any position on any tax return inconsistent with the foregoing.

  • Income Tax Treatment Employee and the Company acknowledge that it is the intention of the Company to deduct all amounts paid under Section 2 hereof as ordinary and necessary business expenses for income tax purposes. Employee agrees and represents that he will treat all such amounts as required pursuant to all applicable tax laws and regulations, and should he fail to report such amounts as required, he will indemnify and hold the Company harmless from and against any and all taxes, penalties, interest, costs and expenses, including reasonable attorneys' and accounting fees and costs, which are incurred by Company directly or indirectly as a result thereof.

  • Tax Treatment If any interest in any Loan Document is transferred to any Transferee which is organized under the laws of any jurisdiction other than the United States or any State thereof, the transferor Lender shall cause such Transferee, concurrently with the effectiveness of such transfer, to comply with the provisions of Section 3.5(iv).

  • Denial of Preferential Tariff Treatment The Customs Authority of the importing Party may deny a claim for preferential tariff treatment when: (a) the good does not qualify as an originating good; or (b) the importer, exporter or producer fails to comply with any of the relevant requirements of this Chapter.

  • Agreed Tax Treatment Each Security issued hereunder shall provide that the Company and, by its acceptance of a Security or a beneficial interest therein, the Holder of, and any Person that acquires a beneficial interest in, such Security agree that for United States Federal, state and local tax purposes it is intended that such Security constitutes indebtedness.

  • Xxx Treatment We have not promised you any particular tax outcome from buying or holding the Note.

  • SPECIAL TAX ELECTION The acquisition of the Purchased Shares may result in adverse tax consequences which may be avoided or mitigated by filing an election under Code Section 83(b). Such election must be filed within thirty (30) days after the date of this Agreement. A description of the tax consequences applicable to the acquisition of the Purchased Shares and the form for making the Code Section 83(b) election are set forth in Exhibit II. OPTIONEE SHOULD CONSULT WITH HIS OR HER TAX ADVISOR TO DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE PURCHASED SHARES AND THE ADVANTAGES AND DISADVANTAGES OF FILING THE CODE SECTION 83(b) ELECTION. OPTIONEE ACKNOWLEDGES THAT IT IS OPTIONEE'S SOLE RESPONSIBILITY, AND NOT THE CORPORATION'S, TO FILE A TIMELY ELECTION UNDER CODE SECTION 83(b), EVEN IF OPTIONEE REQUESTS THE CORPORATION OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HIS OR HER BEHALF.

  • Tax Treatment of Payments Except to the extent otherwise required pursuant to a “determination” (within the meaning of Section 1313(a) of the Code or any similar provision of state, local or foreign Law), Seller, Purchaser, the Company and their respective Affiliates shall treat any and all payments under this Article ‎VII, Section ‎‎2.7 and ‎Article ‎X as an adjustment to the Purchase Price for Tax purposes.

  • Reorganization Treatment Neither the Company nor any Company Subsidiary has taken or agreed to take any action that would prevent the Merger from constituting a reorganization qualifying under the provisions of Section 368(a) of the Code.

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