Tax Element Sample Clauses

Tax Element. Tax Liability 4.1 Company shall pay to Owner in accordance with the terms of this Schedule and only arising under Indonesian tax regulations, amounts equivalent to the aggregate of 4.1.1 all Specific Event Taxes; 4.1.2 all Tax Element Tax; 4.1.3 such additional amounts as will result in the receipt by Owner of an amount after payment of Specific Event Taxes and Tax Element Tax equal to the full amount which would have been received by Owner hereunder had no such Specific Event Taxes and Tax Element Tax been imposed, SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). (and the aggregate of all sums payable under this section shall be the “Tax Liability”). 4.2 The “Tax Element” shall be, in respect of 4.2.1 the first Hire Contract Year, Owner’s reasonable estimate and detailed calculation of the Tax Liability (excluding Specific Event Taxes) for the period starting with the Contract Date and ending at the end of the first Hire Contract Year divided by the number of days in that period, which estimate Owner shall notify to Company by the ***** day before the Scheduled Delivery Date; and 4.2.2 in respect of the second and each subsequent Hire Contract Year, Owner’s reasonable estimate and detailed calculation of the Tax Liability (excluding Specific Event Taxes) for that Hire Contract Year divided by the number of days in that Hire Contract Year, which estimate Owner shall notify to Company before the ***** day before that Hire Contract Year starts, and each estimate of the Tax Liability under this section 4.2 shall be the “Estimated Tax Liability”. 4.3 Owner may invoice Company, and Company shall pay Owner within ***** Banking Days after receiving an invoice therefor, the amount of any Specific Event Taxes for which Owner becomes liable to pay, and shall seek to agree that Company pays that Specific Event Tax directly to the appropriate Indonesian Governmental Authority. Refunds and Credits 4.4 If Owner recovers any Specific Event Taxes, Tax Element Tax, and Withholding Taxes (as a refund or credit) in respect of which Company has paid the Tax Liability, Owner shall promptly notify Company thereof and refund or credit to Company the sum so recovered. Tax Structuring 4.5 Owner shall, use reasonable endeavours to do what a...
Sample 1
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Tax Element 
Sample 1

Related to Tax Element

  • Tax Election This statement is being made under Section 83(b) of the Internal Revenue Code, pursuant to Treas. Reg.

  • 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 Elections Except as otherwise provided herein, the General Partner shall, in its sole and absolute discretion, determine whether to make any available election pursuant to the Code, including the election under Section 754 of the Code. The General Partner shall have the right to seek to revoke any such election (including without limitation, any election under Section 754 of the Code) upon the General Partner’s determination in its sole and absolute discretion that such revocation is the best interests of the Partners.

  • Income Tax Elections In the event of a distribution of property made in the manner provided under Section 734 of the Code, or in the event of a transfer of any Partnership Interest permitted by this Agreement made in the manner provided in Section 743 of the Code, the General Partner, on behalf of the Partnership, may, but shall not be required to, file an election under Section 754 of the Code in accordance with the procedures set forth in the applicable regulations promulgated thereunder.

  • Impact direct impact on people does not necessarily require direct contact, for example, environmental health, trading standards and similar officers may have a direct impact on people, through the implementation or enforcement of regulations, without necessarily having direct contact with those who benefit.

  • Adverse Tax Consequences Notwithstanding anything to the contrary in this Agreement, the General Partner shall have the authority (but shall not be required) to take any steps it determines are necessary or appropriate in its sole and absolute discretion to prevent the Partnership from being taxable as a corporation for Federal income tax purposes. In addition, except with the Consent of the General Partner, no Transfer by a Limited Partner of its Partnership Interests (including any Redemption, any conversion of LTIP Units into Partnership Common Units, any other acquisition of Partnership Units by the General Partner or any acquisition of Partnership Units by the Partnership) may be made to or by any Person if such Transfer could (i) result in the Partnership being treated as an association taxable as a corporation; (ii) result in a termination of the Partnership under Code Section 708; (iii) be treated as effectuated through an “established securities market” or a “secondary market (or the substantial equivalent thereof)” within the meaning of Code Section 7704 and the Regulations promulgated thereunder, (iv) result in the Partnership being unable to qualify for one or more of the “safe harbors” set forth in Regulations Section 1.7704-1 (or such other guidance subsequently published by the IRS setting forth safe harbors under which interests will not be treated as “readily tradable on a secondary market (or the substantial equivalent thereof)” within the meaning of Section 7704 of the Code) (the “Safe Harbors”) or (v) based on the advice of counsel to the Partnership or the General Partner, adversely affect the ability of the General Partner to continue to qualify as a REIT or subject the General Partner to any additional taxes under Code Section 857 or Code Section 4981.

  • Tax Effect The federal tax consequences of stock options are complex and subject to change. Each person should consult with his or her tax advisor before exercising any Option or disposing of any Shares acquired upon the exercise of an Option.

  • Income Tax Liability Within ten (10) Business Days after the receipt of revenue agent reports or other written proposals, determinations or assessments of the IRS or any other taxing authority which propose, determine or otherwise set forth positive adjustments to the Tax liability of, or assess or propose the collection of Taxes required to have been withheld by, the Borrower which equal or exceed $100,000 in the aggregate, telephonic or facsimile notice (confirmed in writing within five (5) Business Days) specifying the nature of the items giving rise to such adjustments and the amounts thereof;

  • Company Tax Returns The Company shall file all tax returns, if any, required to be filed by the Company.

  • Federal Income Tax Elections The Member shall make all elections for federal income tax purposes.

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