Sales Tax Deferral Sample Clauses

Sales Tax Deferral. All or portions of construction of the Building Shell and Core and the Tenant Improvements may be eligible for deferral of state and local sales and use taxes pursuant to RCW Chapter 82.63 (and any regulations promulgated in connection therewith) because Tenant will use the Premises for high technology research and development. Tenant shall cooperate with Landlord in the preparation and processing of applications with the Washington State Department of Revenue for a deferral of state and local sales and use taxes with respect to the construction of the Building Shell and Core (the “Tax Deferral”), which Landlord shall timely file in accordance with all statutory, regulatory and departmental requirements. Tenant shall cooperate with Landlord in the preparation and execution of any certificates or other documents required by the Department of Revenue to maintain the Tax Deferral, and Landlord shall be responsible for the timely and proper filling of such certificates and documents. Landlord and Tenant shall cooperate to prepare and each shall execute any certificates or other documents required by the Department of Revenue to obtain or maintain a tax deferral for the Tenant Improvements, which Tenant shall be responsible for filing. Landlord and Tenant hereby agree that the Base Rent assumes Landlord will receive a Tax Deferral on 42.3% of the costs of the Building shell and core. Landlord and Tenant further agree that the economic benefit of the assumed Tax Deferral cost savings has been passed on to Tenant in the Base Rent set forth in this Lease. Tenant acknowledges that all or a portion of the Tax Deferral may be required to be paid if the use of the Premises fails or ceases to qualify for the Tax Deferral. In the event all or any portion of the Tax Deferral is required to be paid because of a determination that Tenant’s use (or changed use) does not qualify, or due to any act or failure to act by Tenant (but not due to Landlord’s failure to timely file and process conforming applications and other documents with the Department of Revenue), then Tenant shall reimburse Landlord for the total amount of the Tax Deferral that Landlord is required to pay, promptly when due by Landlord, together with any penalties, interest or other charges that are or become due in connection with such taxes and arise out of Tenant’s nonqualifying use or any act or failure to act by Tenant. Such reimbursement amount or amounts shall become due as Additional Rent and Tenant sh...
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Sales Tax Deferral. Sales and Use Tax otherwise applicable to the Additional Vivarium Improvements may be eligible for the Tax Deferral. Any such eligible construction shall be included in the term “Qualifying Investment.” Any Tax Deferral received as a result of work in connection with this Second Amendment shall be included in the Actual Deferral and shall be subject to Section 4.7 of the Original Lease; provided, however, that Landlord has previously satisfied its obligation in such Section to file an application with the DOR seeking the Tax Deferral.
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Sales Tax Deferral. 11 12. DEFAULTS............................................................ 11
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Sales Tax Deferral. Tenant's improvements to the Premises may qualify for certain sales tax deferrals under the laws of the State of Washington. Landlord agrees to cooperate with Tenant in applying for any such deferrals, including, but not limited to, certifying that the benefit of the deferrals shall accrue to Tenant. Tenant shall hold Landlord harmless against any liability for sales tax on work performed for Tenant that is deferred but thereafter becomes due and payable.
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Sales Tax Deferral. Tenant acknowledges that Xxxxxx received a Sales Tax Deferral (as defined in the First Amendment) for the Tenant Improvements as contemplated by the terms of the First Amendment. Tenant is and will remain responsible for the payment of any and all sales tax for the Tenant Improvements and shall (i) reimburse, indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord, at Tenant’s sole cost and expense) and hold harmless Landlord and the other Landlord Indemnitees for, from and against any Claims arising out of the Sales Tax Deferral and/or any and all sales tax due for the Tenant Improvements, including, without limitation, any Claims for sales taxes due by the Revenue Department (as defined in the First Amendment), and (ii) within ten (10) days after the filing thereof, discharge or bond, at Tenant’s sole cost and expense, any lien filed against the Premises, the Building or the Project related to the Sales Tax Deferral or otherwise with respect to the sales tax due for the Tenant Improvements. Tenant’s responsibility relating to the Sales Tax Deferral shall include the ongoing cost to maintain the Sales Tax Deferral, which Tenant will pay directly to its third party tax advisor. The provisions of this Section 5 (including, but not limited to, the terms of the foregoing indemnity and Tenant’s covenant to discharge any liens as provided above) shall survive the expiration or earlier termination of the Lease (including the termination of the Lease on the Termination Date as set forth in Section 2 above). Tenant acknowledges that Tenant is in the process of undergoing a corporate merger and related transactions, but Tenant represents and warrants that the Tenant entity will survive such transactions and will continue to be liable for the obligations of Tenant under the Lease (provided that Tenant may undergo a name change).
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Sales Tax Deferral. Sales and Use Tax otherwise applicable to the First Expansion Improvements, the Additional Scope and any Shortfall Work may be eligible for the Tax Deferral. Any such eligible construction shall be included in the term “Qualifying Investment.” Any Tax Deferral received as a result of work in connection with this First Amendment shall be included in the Actual Deferral and shall be subject to Section 4.7 of the Lease; provided, however, that Landlord has previously satisfied its obligation in such Section to file an application with the DOR seeking the Tax Deferral.
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Sales Tax Deferral. (a) In connection with the construction of the Tenant Improvements, Tenant may apply to the Washington State Department of Revenue (the "State")" for the deferral of sales tax related to the construction of the Premises pursuant to RCW Chapter 82.63 (the "Sales Tax Deferral Program"). Pursuant to the Sales Tax Deferral Program, following the completion of the Tenant Improvements, the State will conduct an audit and determine the final amount of the sales tax which may be deferred. The State may conduct subsequent audits for seven (7) years following the calendar year in which the Premises are certified by the State as "operationally complete". The Sales Tax Deferral Program requires the economic benefit of the savings in sales tax be passed through to Tenant. If a subsequent audit of Xxxxxx's use of the Premises discloses a change in the portion of the Premises used by Tenant for "qualified research and development" for purpose of the Sales Tax Deferral Program, the State may require that all or a portion of the sales tax previously deferred be repaid, together with interest retroactive to the date of the original deferral.
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Sales Tax Deferral. Landlord agrees to reasonably cooperate with Tenant, at no cost or liability to Landlord, with respect to seeking a sales tax deferral, or other available tax deferrals or incentives, that may benefit Tenant with respect to construction of the Second Floor Additional Premises Tenant Improvements and Third Floor Additional Premises Tenant Improvements. Notwithstanding the foregoing, in the event that the DOR or any other applicable Governmental Authority determines that any such deferred amounts or other incentives must be paid or reimbursed, Tenant shall be solely responsible for and shall promptly pay such amounts to the DOR or any other applicable Governmental Authority, together with any late fees, penalties, interest or other charges incurred in connection therewith.
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Sales Tax Deferral 
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Related to Sales Tax Deferral

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

  • Deferrals If permitted by the Company, the Participant may elect, subject to the terms and conditions of the Plan and any other applicable written plan or procedure adopted by the Company from time to time for purposes of such election, to defer the distribution of all or any portion of the shares of Common Stock that would otherwise be distributed to the Participant hereunder (the “Deferred Shares”), consistent with the requirements of Section 409A of the Code. Upon the vesting of RSUs that have been so deferred, the applicable number of Deferred Shares shall be credited to a bookkeeping account established on the Participant’s behalf (the “Account”). Subject to Section 5 hereof, the number of shares of Common Stock equal to the number of Deferred Shares credited to the Participant’s Account shall be distributed to the Participant in accordance with the terms and conditions of the Plan and the other applicable written plans or procedures of the Company, consistent with the requirements of Section 409A of the Code.

  • Code Section 83(b) Election The Participant shall be permitted to make an election under Code Section 83(b), to include an amount in income in respect of the Award of Restricted Stock in accordance with the requirements of Code Section 83(b).

  • Deferral Notwithstanding the foregoing, if the Company shall furnish to Holders requesting registration pursuant to this Section 2.3, a certificate signed by the President or Chief Executive Officer of the Company stating that in the good faith judgment of the Board, it would be materially detrimental to the Company and its shareholders for such registration statement to be filed at such time, then the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this right more than once in any twelve (12) month period; provided further, that the Company shall not register any other of its shares during such twelve (12) month period. A demand right shall not be deemed to have been exercised until such deferred registration shall have been effected.

  • PARTICIPANT NONDEDUCTIBLE CONTRIBUTIONS The Plan: (Choose (a) or (b); (c) is available only with (b)) [X] (a) Does not permit Participant nondeductible contributions. [ ] (b) Permits Participant nondeductible contributions, pursuant to Section 14.04 of the Plan.

  • CODE SECTION 754 ELECTION Upon the approval of the General Partners, the Partnership shall file an election under Code Section 754 to adjust the tax basis of the Partnership Property, with respect to any distribution of Partnership Property to a Partner permitted by this Agreement or a Transfer of a Partnership Interest in accordance with the terms of this Agreement, in accordance with Code Sections 734(b) and 743(b). The Partners acknowledge that once a Code Section 754 election shall be validly filed by the Partnership, it shall remain in effect indefinitely thereafter unless the Internal Revenue Service approves the revocation of such election.

  • Payment of Deferred Compensation Any compensation that has been earned by the Executive but is unpaid as of the Termination Date, including any compensation that has been earned but deferred pursuant to the Company's Deferred Compensation Plan or otherwise, shall be paid in full to the Executive on the Termination Date.

  • FOREIGN TAX CREDITS AVIF agrees to consult in advance with LIFE COMPANY concerning any decision to elect or not to elect pursuant to Section 853 of the Code to pass through the benefit of any foreign tax credits to its shareholders.

  • Payroll Taxes Employer shall have the right to deduct from the compensation and benefits due to Employee hereunder any and all sums required for social security and withholding taxes and for any other federal, state, or local tax or charge which may be in effect or hereafter enacted or required as a charge on the compensation or benefits of Employee.

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