Tax Reform Sample Clauses
A Tax Reform clause defines how changes in tax laws or regulations will affect the obligations and financial arrangements between the parties to a contract. Typically, this clause stipulates that if a new tax is introduced or an existing tax is modified, the parties will adjust payments or terms to reflect the new tax burden, ensuring neither party is unfairly advantaged or disadvantaged by the change. Its core function is to allocate the risk of tax law changes, providing clarity and fairness in how such changes are handled during the contract term.
Tax Reform. Adjusted Net Income for each fiscal year during the Performance Period and Adjusted Capital as of each quarter end used in calculating Average Adjusted Capital for any fiscal year of the Performance Period shall be adjusted to eliminate the impact resulting from major changes in federal or state tax laws.
Tax Reform. A. Support a refundable tax credit for Green Stormwater infrastructure.
B. Preserve tax-exempt municipal bonding authority.
C. Protect the state and local income tax deduction.
D. Explore ways to expand the New Markets Tax Credit.
Tax Reform. If any reform in the Australian taxation system, such as the introduction of a goods and services tax, materially affects ▇▇▇▇▇ Media’s rights under this agreement or the parties’ ability to perform this agreement, ▇▇▇▇▇ Media may require that ▇▇▇▇▇ Media and Agent renegotiate the terms of this agreement. If such a renegotiation cannot be achieved while preserving the essential terms of this agreement then ▇▇▇▇▇ Media may terminate this agreement by written notice to Agent.
Tax Reform. (a) The parties acknowledge that:
(i) the Commonwealth Government has announced its intention that non-fixed trusts be taxed as companies from 1 July 2001;
(ii) it is in the interests of all parties, including the Trustee, the Noteholders and the Beneficiary, that:
(A) the Trustee always be in a position to pay any Tax liability when due;
(B) the payment of Tax by the Trustee must not affect the amount of principal or interest payable on the Notes or the timing of such payments; and
(C) the rating of the Notes be maintained; and
(iii) draft legislation to implement this change has been made publicly available, and it appears that the Trust will be a fixed trust which will not be taxed as a company.
(b) If and when an amending ▇▇▇▇ is introduced into Federal Parliament, and the result of that amending Bill if it becomes law will be that the Trustee will become liable to pay Tax on the net income of the Trust, or any part of it, then:
(i) the Manager shall promptly consult with the Trustee and each Designated Rating Agency to determine what changes, if any, are necessary to the cashflow allocation methodology in clause 5 to achieve the objective referred to in clause 17(a)(ii) (the OBJECTIVE);
(ii) within two months of the amending ▇▇▇▇ being introduced into Federal Parliament (or such longer time as the Trustee and each Designated Rating Agencies permit) the Manager shall use reasonable endeavours to provide a written recommendation to the Trustee and a draft deed amending this Supplementary Terms Notice that, if executed, will achieve the Objective; and
(iii) upon the Trustee being notified that the draft deed amending this Supplementary Terms will achieve the Objective (and in this regard the Trustee may rely (amongst others) upon advice of tax lawyers), and each of the other parties to this Supplementary Terms Notice being reasonably satisfied that they will not be adversely affected by the proposed amendments to this Supplementary Terms Notice, each party to this Supplementary Terms Notice shall execute that amendment deed.
(c) Provided that the Trustee receives written advice from an experienced and reputable tax lawyer or tax accountant to the effect that if the cashflow allocation methodology, as amended under paragraph (b)(iii), is followed the Objective will be met, and each Designated Rating Agency confirms in writing that the change in Tax law or the amendment under paragraph (b)(iii) will not give rise to the downgrade or withdrawal of rating of...
Tax Reform that satisfactory progress in implementing legislative initiatives to reduce distortions in the tax system has been achieved, including, but not limited to:
Tax Reform. The chairman of the Senate Committee on the Budget may revise the allocations of a committee or committees, aggregates, and other appropriate levels in this resolution for one or more bills, joint resolutions, amendments, motions, or conference reports that would reform the Internal Revenue Code to ensure S. Con. Res. 13—18 a sustainable revenue base that would lead to a fairer and more efficient tax system and to a more competitive business environment for United States enterprises, by the amounts provided in such legislation for those purposes, provided that such legislation would not increase the deficit over either the period of the total of fiscal years 2009 through 2014 or the period of the total of fiscal years 2009 through 2019.
Tax Reform. Certainty over the terms of the OECD Agreement and the technical details which are expected to be published in November 2021 will allow Ireland to reform its tax system to best accommodate the provisions of the OECD Agreement.