Tax Deposit. If the Performance Shares shall vest, the Executive shall deposit with the Company an amount of cash equal to the amount determined by the Company to be withheld upon such vesting for any withholding taxes, FICA contributions, or the like under any federal or state statute, rule, or regulation. The Company may withhold, and the Committee may in its discretion permit the Executive to elect (subject to such conditions as the Committee shall require) to have the Company withhold, a number of shares of Common Stock having a fair market value on the date that the amount of tax to be withheld is determined equal to the required statutory minimum withholding. The Company shall not issue and deliver any of its Common Stock upon the vesting and settlement of the Performance Shares until and unless the Executive has made the deposit required herein or proper provision for withholding has been made.
Tax Deposit. Upon exercising all or any part of an Option, the Employee shall deposit with the Company, through means provided for by the Company, an amount of cash equal to the amount determined by the Company to be withheld upon the exercise of the Option for any withholding taxes, social security / social insurance contributions, or the like under any government statute. The Committee may, at its sole discretion, and subject to such rules as it may adopt, permit the Employee to satisfy this withholding obligation, in whole or in part, by electing to sell shares of Common Stock having a fair market value on the date that the amount of tax to be withheld is determined equal to the applicable required minimum withholding. The Company shall not issue and deliver any of its Common Stock upon the exercise of any Option until and unless the Employee has made the deposit required herein or proper provision for withholding has been made.
Tax Deposit. Prior to delivery of possession of the Leased Premises Tenant shall deposit with Landlord the sum of Forty Two Thousand Thirty Nine 19/100 Dollars (42,039.19) which sum represents six (6) months taxes May 1, 1996 together with the second half 1996 school property taxes due on the property June 1, 1996. Provided the Tenant makes the aforesaid payment of real estate taxes to Landlord, and provides proof of payment and evidence of the requisite insurance and tenders the first month's (July, 1996) rent, and further provided that Tenant is not otherwise in default (beyond expiration of any applicable grace period after the giving of notice required hereunder) of its obligations under the terms of this Lease, then the Landlord shall forgive the May and June 1996 Base Minimum Rent. Tenant shall pay one-twelfth (1/12) of the annual tax payments together with all subsequent rental payments.
Tax Deposit. The Parties acknowledge and agree that as of the Contract Date, the Corporation has on deposit with the IRS an amount equal to $591,987 as a “required payment” within the meaning of Section 7519 of the Code (the “Tax Deposit”). The Purchaser shall promptly cause the Surviving Corporation to make a claim for refund of the Tax Deposit as provided by, and in accordance with the rules regarding the timing of such request for refund set forth in, Treasury Regulation Section 1.7519-2T(a)(6). Upon receipt of the Tax Deposit (in whole or in part) by the Surviving Corporation, the Purchaser shall cause the Surviving Corporation to promptly remit such funds to the Shareholders’ Representative.
Tax Deposit. At the Closing, the Company shall possess all rights to the tax deposits that have been made, or will be made before the Closing, with the IRS with respect to deferred Taxes arising from the Company's retention of October 31 as its fiscal year end (which as of the date hereof are approximately $388,409.00).
Tax Deposit. Upon exercising all or any part of an Option, the Employee shall deposit with the Company an amount of cash equal to the amount determined by the Company to be withheld upon the exercise of the Option for any withholding taxes, FICA contributions, or the like under any federal or state statute, rule, or regulation. The Company may withhold, and the Committee may in its discretion permit the Employee to elect (subject to such conditions as the Committee shall require) to have the Company withhold, a number of shares of Common Stock having a fair market value on the date that the amount of tax to be withheld is determined equal to the required statutory minimum withholding. The Company shall not issue and deliver any of its Common Stock upon the exercise of any Option until and unless the Employee has made the deposit required herein or proper provision for withholding has been made.
Tax Deposit. When and if requested, Sublessee agrees to pay to Sublessor in advance, on each monthly rental payment date, an additional amount equal to one twelfth (1/12) of the annual taxes and assessments levied against the demised Premises for the period for which collected. Sublessor shall use such monies for payment of such taxes or assessments as they become due and payable. In the event such monies are insufficient for such purpose, Sublessee shall immediately, upon notice, pay the difference to Sublessor. In remitting such taxes or assessments, Sublessor shall not be responsible for their validity, accuracy or reasonableness and shall not be required to make advances thereof. Sublessor shall not be required to pay any interest on any payments made hereunder by Sublessee and Sublessee hereby expressly waives any right, statutory or otherwise, to have Sublessor pay interest on said payment.
