Tax implication Sample Clauses

Tax implication. 4.1 Applicant is solely responsible for payment of any and all tax liability imposed on the Applicant as a result of the receipt of any Incentive payment; EM will not be responsible for any tax liability imposed on the Applicant as a result of any payment of the Incentive. GST Registrants: Incentives include GST.
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Tax implication. 4.1 EM will not be responsible for any tax liability imposed on the Building Owner/Applicant as a result of any payment of the Incentive. Efficiency Manitoba is exempt from the Goods & Services Tax (GST) and therefore Incentives do not include GST.
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Tax implication. 4.1 MH will not be responsible for any tax liability imposed on the Customer as a result of any Incentive. GST Registrants: Incentive includes GST.
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Tax implication. 4.1 EM is not responsible for any tax liability imposed on the Customer as a result of any payment of the Rebate.
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Tax implication. Income Tax will be deducted at source wherever applicable as per the provisions of the Income Tax Act, 1961 and the rules framed thereunder or any subsequent modification or substitution thereof. You are solely responsible for declarations and implications arising under the Income Tax Act, 1961 and the rules framed thereunder or any subsequent modification or substitution thereof. You agree to promptly declare your correct income to the Tax Authorities and pay applicable tax thereupon. Any false declarations in respect of financial disclosures shall be a cause for disciplinary action including termination at Company ’s discretion.
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Tax implication. In general, employees will be subject to tax upon exercise of all or any part of the Option in an amount equal to the difference between the Fair Market Value of the Shares being acquired upon such exercise as of the exercise date and the Exercise Price, less any applicable commissions and fees. The Employee is advised to consult tax counsel concerning the tax implications of holding and exercising all or any part of the Option.
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Tax implication. 4.1 EM will not be responsible for any tax liability imposed on the Customer as a result of any payment of the Incentive. EM is e xempt from the Goods & Services Tax (GST) and therefore Incentives do not include GST.
Sample 1
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Tax implication. 4.1 Building Owner is solely responsible for payment of any and all tax liability imposed on the Building Owner as a result of the receipt of any Incentive payment; EM will not be responsible for any tax liability imposed on the Building Owner as a result of any payment of the Incentive. GST Registrants: Incentives include GST.
Sample 1
Tax implication. NTIIF makes no representations as to the tax consequences or liability arising from any consideration, including but not limited to the Settlement Sum, made under this Agreement. Moreover, any tax consequences and/or liability arising from the consideration provided to Plaintiff.<; in accordance with this Agreement shall be Plaintiffs' sole responsibility and obligation, and that neither the NJilF, Roselle Park nor any Releasee shall be held liable for any payment of any taxes or penalties on Plaintiffs' behalf. Plaintiffs agree that each wiU pay any and all income tax that may be determined to be due in connection with the payment of the Settlement Sum. Should the Internal Revenue Service, any State or any other taxing agency or tribunal require Defendants to pay any taxes, fines, penalties, interest or any oilier cost related to taxes on behalf of Plaintiffs with regard to the payment of the Settlement Sum, Plaintiffs agrees to defend, indemnify and reimburse the NIDF, their agents, servants or representatives for any taxes they are required to pay as a resnll of Plaintiffs' failure to do so.
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Related to Tax implication

  • Tax Implications Without limitation, we do not accept liability for any adverse tax implications of any Transaction whatsoever.

  • Tax Characterization Each party to this Agreement (a) acknowledges that it is the intent of the parties to this Agreement that, for accounting purposes and for all Federal, state and local income and franchise tax purposes, the Series 2009-1 Notes will be treated as evidence of indebtedness, (b) agrees to treat the Series 2009-1 Notes for all such purposes as indebtedness and (c) agrees that the provisions of the Related Documents shall be construed to further these intentions.

  • Annual Tax Information The Managers shall cause the Company to deliver to the Member all information necessary for the preparation of the Member’s federal income tax return.

  • 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.

  • No Special Taxes The Contributors have no actual knowledge of, nor have they received any written notice of, any special taxes or assessments relating to the Partnership or Property or any part thereof or any planned public improvements that may result in a special tax or assessment against the Property.

  • Income Tax Characterization For purposes of federal income, state and local income and franchise and any other income taxes, the Issuer will, and each Noteholder by such Noteholder’s acceptance of any such Notes (and each Person who acquires an interest in any Notes through such Noteholder, by the acceptance by such Person of an interest in the applicable Notes) agrees to, treat the Notes that are characterized as indebtedness at the time of their issuance, and hereby instructs the Issuer to treat such Notes, as indebtedness for federal, state and other tax reporting purposes. Each Noteholder agrees that it will cause any Person acquiring an interest in a Note through it to comply with this Indenture as to treatment as indebtedness under applicable tax law, as described in this Section 3.21. The Notes will be issued with the intention that, for federal, state and local income and franchise tax purposes the Trust shall not be treated as an association or publicly traded partnership taxable as a corporation. The parties hereto agree that they shall not cause or permit the making, as applicable, of any election under Treasury Regulation Section 301.7701-3 (or any successor provision) whereby the Trust or any portion thereof would be treated as a corporation for federal income tax purposes. The provisions of this Indenture shall be construed in furtherance of the foregoing intended tax treatment.

  • Deduction or Withholding for Tax (i) Gross-Up. All payments under this Agreement will be made without any deduction or withholding for or on account of any Tax unless such deduction or withholding is required by any applicable law, as modified by the practice of any relevant governmental revenue authority, then in effect. If a party is so required to deduct or withhold, then that party (“X”) will:—

  • Treatment of Tax Indemnity and Tax Benefit Payments In the absence of any change in Tax treatment under the Code or other applicable Tax Law,

  • 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.

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