We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

PREPAYMENT FOR TAXATION OR OTHER REASONS Sample Clauses

PREPAYMENT FOR TAXATION OR OTHER REASONS. If: (a) Funding is required to withhold or deduct from any payment of principal or interest in respect of any Intercompany Loan any amount for or on account of Tax; or (b) the relevant Issuer is required to withhold or deduct from any payment of principal, interest or premium in respect of its Notes any amount for or on account of Tax; or (c) an Intercompany Loan becomes illegal as described in Clause 10 (Illegality); then, without prejudice to the obligations of Funding under Clause 10 (Illegality) and subject to Clause 11 (Mitigation), the relevant Issuer may require Funding to prepay, on any Payment Date, having given not more than 60 days and not less than 30 days' (or such shorter period as may be required by any relevant law in the case of any Intercompany Loan which becomes illegal pursuant to Clause 10 (Illegality)) prior written notice to the Issuer and the Note Trustee (or on or before the latest date permitted by the relevant law in the case of Clause 10 (Illegality)) and while the relevant circumstances continue, the related Intercompany Loan without penalty or premium but subject to Clause 15 (Default interest and indemnity), provided that such Issuer is able to repay its Notes on such Payment Date from funds received from repayment of such Intercompany Loan.
Sample 1Sample 2Sample 3See All (8)
PREPAYMENT FOR TAXATION OR OTHER REASONS. If: (a) Funding 1 is required to withhold or deduct, from any payment of principal or interest in respect of any Loan Tranche, any amount for or on account of Tax; or (b) a Loan Tranche becomes illegal as described in Clause 11; or (c) the Issuer is required to deduct or withhold, from any payment of principal, interest or premium in respect of the Notes, any amount for or on account of Tax, then, without prejudice to the obligations of Funding 1 under Clause 11 and subject to Clause 12, Funding 1 may prepay, on any Loan Tranche Payment Date, having given not more than 60 days' and not less than 30 days' (or such shorter period as may be required by any relevant law in the case of any Loan Tranche which becomes illegal pursuant to Clause 11) prior written notice to the Issuer, the Issuer Security Trustee and the Funding 1 Security Trustee (or on or before the latest date permitted by the relevant law in the case of Clause 11) as long as the relevant circumstances continue, the applicable Loan Tranche without penalty or premium but subject to Clause 16, provided that the Issuer is able to redeem the related Notes used to fund such Loan Tranche on such Loan Tranche Payment Date from funds received from repayment of such Loan Tranche.
Sample 1Sample 2Sample 3See All (6)
PREPAYMENT FOR TAXATION OR OTHER REASONS. If: (a) Funding 2 is required to withhold or deduct from any payment of principal or interest in respect of any Loan Tranche any amount for or on account of Tax; or (b) the Master Issuer is required to withhold or deduct from any payment of principal, interest or premium in respect of its Notes any amount for or on account of Tax; or (c) the Master Issuer or Funding 2, as the case may be, falls within the Securitisation Tax Regime but subsequently ceases to fall within the Securitisation Tax Regime; or (d) a Loan Tranche becomes illegal as described in Clause 11, then, without prejudice to the obligations of Funding 2 under Clause 11 and subject to Clause 12, Funding 2 may prepay, on any Funding 2 Interest Payment Date, having given not more than 60 days' and not less than 30 days' (or such shorter period as may be required by any relevant law in the case of any Loan Tranche which becomes illegal pursuant to Clause 11) prior written notice to the Master Issuer and the Note Trustee (or on or before the latest date permitted by the relevant law in the case of Clause 11) so long as the relevant circumstances continue, the applicable Loan Tranches (which in the case of (c) above, shall include all outstanding Loan Tranches) without penalty or premium but subject to Clause 16, provided that (in the case of a Rated Loan Tranche) the Master Issuer is able to repay the related Notes used to fund such Rated Loan Tranche on such Funding 2 Interest Payment Date from funds received from repayment of such Rated Loan Tranche.
Sample 1
PREPAYMENT FOR TAXATION OR OTHER REASONS. If: (a) Funding is required to withhold or deduct from any payment of principal or interest in respect of any Term Advance any amount for or on account of Tax; or (b) the Master Issuer is required to withhold or deduct from any payment of principal, interest or premium in respect of its Master Issuer Notes any amount for or on account of Tax; or (c) a Term Advance becomes illegal as described in Clause 11, then, without prejudice to the obligations of Funding under Clause 11 and subject to Clause 12, Funding may prepay, on any Interest Payment Date, having given not more than 60 days’ and not less than 30 days' (or such shorter period as may be required by any relevant law in the case of any Term Advance which becomes illegal pursuant to Clause 11) prior written notice to the Master Issuer and the Note Trustee (or on or before the latest date permitted by the relevant law in the case of Clause 11) so long as the relevant circumstances continue, the applicable Term Advances without penalty or premium but subject to Clause 16, provided that the Master Issuer is able to repay the related Master Issuer Notes used to fund such Term Advance on such Interest Payment Date from funds received from repayment of such Term Advance.
Sample 1
PREPAYMENT FOR TAXATION OR OTHER REASONS. If: (a) the total amount in respect of interest in relation to any Intercompany Loan ceases to be receivable (on account of any present or future Taxes, duties, assessments or governmental charges of whatever nature); or (b) a Term Advance becomes illegal as described in Clause 10 (Illegality); or (c) the Issuer is required to deduct or withhold from any payment of principal, interest or premium in respect of its Notes any amount for or on account of Tax, then, without prejudice to the obligations of Funding under Clause 10 (Illegality) and subject to Clause 11 (Mitigation), Funding may, on any Interest Payment Date having given not more than 60 days and not less than 30 days' (or such shorter period as may be required by any relevant law in the case of any Term Advance which becomes illegal pursuant to Clause 10 (Illegality)) prior written notice to the Issuer and the Security Trustee (or on or before the latest date permitted by the relevant law in the case of Clause 10 (Illegality)) and while the
Sample 1

Related to PREPAYMENT FOR TAXATION OR OTHER REASONS

  • Termination for Other Reasons The Corporation may discharge the Executive without Cause by giving written notice to the Executive in accordance with Section 14 at least thirty (30) days prior to the Date of Termination. The Executive may resign from his employment by giving written notice to the Corporation in accordance with Section 14 at least thirty (30) days prior to the Date of Termination. Except to the extent otherwise provided in Section 9 with respect to certain post-Date of Termination obligations of the Corporation, this Agreement shall terminate immediately as of the Date of Termination in the event the Executive is discharged without Cause or resigns.

  • Refund for Withdrawal Due to Other Reasons If the Student withdraws from the Course for any reason other than those stated in Clause 2.1, the PEI will, within seven (7) working days of receiving the Student’s written notice of withdrawal, refund to the Student an amount based on the table in Schedule D.

  • Leave for Other Reasons Notwithstanding any provisions for leave in this Agreement, the Employer may grant leave of absence with or without pay to an employee for any other purpose.

  • Are There Different Types of IRAs or Other Tax Deferred Accounts? Yes. Upon creation of a tax deferred account, you must designate whether the account will be a Traditional IRA, a Xxxx XXX, or a Xxxxxxxxx Education Savings Account (“CESA”). (In addition, there are Simplified Employee Pension Plan (“SEP”) IRAs and Savings Incentive Matched Plan for Employees of Small Employers (“SIMPLE”) IRAs, which are discussed in the Disclosure Statement for Traditional IRAs). • In a Traditional IRA, amounts contributed to the IRA may be tax deductible at the time of contribution. Distributions from the IRA will be taxed upon distribution except to the extent that the distribution represents a return of your own contributions for which you did not claim (or were not eligible to claim) a deduction. • In a Xxxx XXX, amounts contributed to your IRA are taxed at the time of contribution, but distributions from the IRA are not subject to tax if you have held the IRA for certain minimum periods of time (generally, until age 59½ but in some cases longer). • In a Xxxxxxxxx Education Savings Account, you contribute to an IRA maintained on behalf of a beneficiary and do not receive a current deduction. However, if amounts are used for certain educational purposes, neither you nor the beneficiary of the IRA are taxed upon distribution. Each type of account is a custodial account created for the exclusive benefit of the beneficiary – you (or your spouse) in the case of the Traditional IRA and Xxxx XXX, and a named beneficiary in the case of a Xxxxxxxxx Education Savings Account. U.S. Bank, National Association serves as Custodian of the account. Your, your spouse’s or your beneficiary’s (as applicable) interest in the account is nonforfeitable.

  • Termination of Employment for Other Reasons In the event that the Participant's employment with the Company or a Subsidiary terminates prior to the end of the Performance Period for any reason other than Death, Disability, Retirement, or Termination by the Company or a Subsidiary without Cause, then Participant's rights to all of the Target Performance Shares granted in this Award will be immediately and irrevocably forfeited upon such termination of employment.

  • Leave With or Without Pay for Other Reasons At its discretion, the Employer may grant: (a) leave with pay when circumstances not directly attributable to the employee prevent his reporting for duty. Such leave shall not be unreasonable withheld; (b) leave with or without pay for purposes other than those specified in this Agreement.

  • Withholding; No Additional Amounts; Tax Event and Redemption All amounts due on this Note will be made without any applicable withholding or deduction for or on account of any present or future taxes, duties, levies, assessments or other governmental charges of whatever nature imposed or levied by or on behalf of any governmental authority, unless such withholding or deduction is required by law. Unless otherwise specified on the face hereof, the Trust will not pay any additional amounts to the Holder of this Note in respect of such withholding or deduction, any such withholding or deduction will not give rise to an event of default or any independent right or obligation to redeem this Note and the Holder will be deemed for all purposes to have received cash in an amount equal to the portion of such withholding or deduction that is attributable to such Holder’s interest in this Note as equitably determined by the Trust. (1) a Tax Event (defined below) as to the Funding Agreement occurs and (2) Principal Life redeems the Funding Agreement in whole or in part, the Trust will redeem the Notes, subject to the terms and conditions of Section 2.04 of the Standard Indenture Terms, at the Tax Event Redemption Price (defined below) together with unpaid interest accrued thereon to the applicable redemption date. “Tax Event” means that Principal Life shall have received an opinion of independent legal counsel stating in effect that as a result of (a) any amendment to, or change (including any announced prospective change) in, the laws (or any regulations thereunder) of the United States or any political subdivision or taxing authority thereof or therein or (b) any amendment to, or change in, an interpretation or application of any such laws or regulations by any governmental authority in the United States, which amendment or change is enacted, promulgated, issued or announced on or after the effective date of the Funding Agreement, there is more than an insubstantial risk that (i) the Trust is, or will be within ninety (90) days of the date thereof, subject to U.S. federal income tax with respect to interest accrued or received on the Funding Agreement or (ii) the Trust is, or will be within ninety (90) days of the date thereof, subject to more than a de minimis amount of taxes, duties or other governmental charges. “Tax Event Redemption Price” means an amount equal to the unpaid principal amount of this Note to be redeemed, which shall be determined by multiplying (1) the Outstanding Principal Amount of this Note by (2) the quotient derived by dividing (A) the outstanding principal amount to be redeemed by Principal Life of the Funding Agreement by (B) the outstanding principal amount of the Funding Agreement.

  • Contract Renegotiation, Suspension, or Termination Due to Change in Funding If the funds DSHS relied upon to establish this Contract or Program Agreement are withdrawn, reduced or limited, or if additional or modified conditions are placed on such funding, after the effective date of this contract but prior to the normal completion of this Contract or Program Agreement: a. At DSHS’s discretion, the Contract or Program Agreement may be renegotiated under the revised funding conditions. b. At DSHS’s discretion, DSHS may give notice to Contractor to suspend performance when DSHS determines that there is reasonable likelihood that the funding insufficiency may be resolved in a timeframe that would allow Contractor’s performance to be resumed prior to the normal completion date of this contract. (1) During the period of suspension of performance, each party will inform the other of any conditions that may reasonably affect the potential for resumption of performance. (2) When DSHS determines that the funding insufficiency is resolved, it will give Contractor written notice to resume performance. Upon the receipt of this notice, Contractor will provide written notice to DSHS informing DSHS whether it can resume performance and, if so, the date of resumption. For purposes of this subsubsection, “written notice” may include email. (3) If the Contractor’s proposed resumption date is not acceptable to DSHS and an acceptable date cannot be negotiated, DSHS may terminate the contract by giving written notice to Contractor. The parties agree that the Contract will be terminated retroactive to the date of the notice of suspension. DSHS shall be liable only for payment in accordance with the terms of this Contract for services rendered prior to the retroactive date of termination. c. DSHS may immediately terminate this Contract by providing written notice to the Contractor. The termination shall be effective on the date specified in the termination notice. DSHS shall be liable only for payment in accordance with the terms of this Contract for services rendered prior to the effective date of termination. No penalty shall accrue to DSHS in the event the termination option in this section is exercised.

  • Gas Imbalances, Take-or-Pay or Other Prepayments The Borrower will not, and will not permit any Restricted Subsidiary to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any Restricted Subsidiary that would require the Borrower or such Restricted Subsidiary to deliver Hydrocarbons at some future time without then or thereafter receiving full payment therefor to exceed one half bcf of gas (on an mcf equivalent basis) in the aggregate.

  • Termination for Cause or Other Than for Good Reason If during the Term the Executive’s employment shall be terminated by the Company for Cause or by the Executive for other than Good Reason, this Agreement shall terminate without further obligation on the part of the Company to the Executive, other than the Company’s obligation to pay the Executive the Accrued Obligations to the extent theretofore unpaid.

Most Referenced Clauses

Most Referenced Definitions