Revenue Canada Contingencies Sample Clauses

Revenue Canada Contingencies a) The present method for making income tax deductions shall continue. Any changes to this method are dependent upon a ruling from Revenue Canada that the income deferral scheme contemplated herein may be acceptable to Revenue Canada.
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Revenue Canada Contingencies. The present method used by the Board for making income tax deductions shall continue. Any change to this method are dependent upon a ruling from Revenue Canada, the amount of income tax to be deducted at source will only be computed on the reduced salary with the agreement of the Board and the participating teacher. The participating teachers will be required to enter into an agreement with the Board to indemnify and save the Board harmless against all claims or demands or other forms of liability against the Board by any person that may arise out of, or by reason of, deductions or payments made in accordance with this clause.
Sample 1
Revenue Canada Contingencies. The present method for making income tax deductions shall continue. Any changes to this method are dependent upon a ruling from Revenue Canada that the income deferral scheme contemplated herein may be acceptable to Revenue Canada. The amount of income tax to be deducted at source will only be computed on the reduced salary with the agreement of the Union and the participating Employees and after the receipt of a ruling of Revenue Canada and of its terms. The participating Employee will be required to enter into an agreement with the Union and the Employer to indemnify and save the Union and the Employer harmless against all claims or demands or other forms of liability against the Union and the Employer by any person that may arise out of, or by reason of, deductions made or payments made in accordance with this article.
Sample 1

Related to Revenue Canada Contingencies

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  • Contingencies (Choose and initial all the contingencies the Parties agree to.)

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  • Regulatory Event New Taxes If, after the Effective Date, a Regulatory Event occurs or New Taxes are imposed, and such event or taxes have a direct, material and adverse effect on the economic benefits to a Party of this ESA, the affected Party shall send written notice to the other Party, setting forth the Regulatory Event or New Taxes and reasonably demonstrating the effect of the same on the affected Party. Upon delivery of such notice, the Parties shall use reasonable efforts to negotiate an amendment to this ESA to mitigate such effect. Alternatively, if as a direct result of such a Regulatory Event or New Taxes, the Competitive Supplier incurs additional, material costs, the Competitive Supplier shall provide a written notice to the Town that documents: a) the effective date of the Regulatory Event or New Taxes; b) a detailed explanation and reasonable demonstration of the material costs incurred as a result of the Regulatory Event or New Taxes; c) the timing of the cost impact to be incurred by the Competitive Supplier; d) the proposed price increase per kWh to be passed on to Participating Consumers; and e) a proposed plan for coordinating with the Local Distributor for an increase in the price per kWh that is billed by the Local Distributor, designed to reimburse the Competitive Supplier for such cost impact. If the Town and the Competitive supplier cannot agree on the amendment to this ESA or reimbursement contemplated by this section, the matter may be subject to dispute resolution in accordance with section 12.2. In no event shall a price change become effective without providing Participating Consumers with a 30-day advance notice of the price change.

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