Tax Reimbursements. Details of any reimbursement of premium taxes that we pay on behalf of reinsurance payments to you are shown in Exhibit C, Section VIII. (Premium Taxes).
Tax Reimbursements. Details of any reimbursement of premium taxes that we pay on behalf of reinsurance payments to you are shown in Exhibit C, Section VIII (Premium Taxes). The following will be effective where applicable:
a) We mutually agree to the following pursuant to Section 1.848-2 (g) (8) of the Income Tax Regulation issued December 29, 1992 under Section 848 of the Internal Revenue Code of 1986, as amended. This election will be effective for all taxable years for which this Agreement remains in effect. The terms used in this Section are defined in Regulation Section 1.848-2 in effect as of December 29, 1992. The term “net consideration” will refer to
Tax Reimbursements. The Option Holder shall have no right to any reimbursement, indemnification or other payment, cash or otherwise, in relation to any federal, state or local taxes for which the Option Holder may be liable in connection with the exercise of a Converted Option or any portion thereof.
Tax Reimbursements. Notwithstanding anything in this Agreement to the contrary, Company shall not make any payment, to the extent such payment constitutes deferral of compensation under Code Section 409A, to reimburse the Executive in an amount equal to all or a designated portion of the Federal, state, local, or foreign taxes imposed upon Executive as a result of compensation paid or made available to Executive by the Company. Executive shall be solely responsible for any taxes owed relating to his compensation.
Tax Reimbursements. Each Seller agrees that, except as otherwise agreed in writing by the Buyer, any obligation of the Company to reimburse such Seller for any taxes and tax services is hereby terminated and each Seller releases and forever discharges the Released Parties from any obligation to reimburse such Seller for any such payments.
Tax Reimbursements. Immediately prior to the Closing, Buyer shall pay to (a) Xxxxx XxXxx $375,000 and to (b) Xxxxxx Xxx $625,000, representing obligations of the Company.
Tax Reimbursements. Each Seller shall reimburse any Purchaser Indemnitee for any Taxes for which such Seller is responsible pursuant to Section 8.01 upon written request setting forth in detail the computation of the amount owed by such Seller. Each such reimbursement shall be made no more than 10 days after the date upon which such request was made.
Tax Reimbursements. Details of any reimbursement of premium taxes that the Ceding Company pays on behalf of reinsurance payments to the Reinsurer are shown in Exhibit C, Section 8. (Premium Taxes). The parties mutually agree to the following pursuant to Section 1.848-2 (g) (8) of the Income Tax Regulation issued December 29, 1992 under Section 848 of the Internal Revenue Code of 1986, as amended. This election will be effective for all taxable years for which this Agreement remains in effect. The terms used in this Section are defined in Regulation Section 1.848-2 in effect as of December 29, 1992. The term “net consideration” will refer to either net consideration as defined in Section 1.848-2 (f) or “gross premium and other consideration” as defined in Section 1.848-3 (b), as appropriate.
a) The party with the net positive consideration for this Agreement for each taxable year will capitalize specified policy acquisition expenses with respect to this Agreement without regard to the General Deductions Limitation of IRC Section 848 (c) (1).
b) The parties mutually agree to exchange information pertaining to the amount of net consideration under this Agreement on or before May 1 of each year to ensure consistency. The parties also mutually agree to exchange information otherwise required by the Internal Revenue Service. Any disputes regarding the information provided by the parties will be resolved on or before June 1 of each year.
Tax Reimbursements. During the Lease Term, as it may be extended, Tenant will pay to Landlord an amount equal to the Real Property Taxes on the Real Property then due within fifteen (15) days after delivery to Tenant by Landlord of an invoice (or, as to real property taxes, no later than twenty (20) days prior to delinquency, if later). Landlord may, at Xxxxxxxx's option, deliver statements from different taxing authorities at different times or deliver all statements at one time. If Tenant has previously defaulted in payment of any Real Property Tax, or in the event of Tenant's transfer of all or more than fifty percent (50%) by area of its interest in this Lease, other than to an Affiliate (defined herein), or as to any transferee of Tenant of any part of the Premises (other than an Affiliate) Landlord may elect to collect Real Property Taxes from Tenant in advance, on a monthly or quarterly basis, based upon Landlord's reasonable estimate of the Real Property Taxes. In such event, if the amount of monthly or quarterly payments for estimated Real Property Taxes received by Landlord from Tenant are more or less than the actual Real Property Taxes due, an itemized statement of which (together with receipted tax bills for all items) shall be delivered to Tenant by Landlord within sixty (60) days after close of each fiscal tax year during the Lease Term, or as soon as reasonably possible thereafter, and an appropriate adjustment will be made by Landlord and Tenant and any balance due paid or refunded within thirty (30) days after such reconciliation. Landlord may also elect to have Real Property Tax invoices sent directly by the taxing authority to Tenant if the Premises are the sole rentable Improvements on the Real Property, in which case Tenant shall pay such invoices in full and in a timely manner to avoid penalty with a copy of evidence of payment to Landlord. Real Property Taxes for partial tax fiscal years, if any, falling within the Term, will be prorated per diem, based on the amount of any Real Property Tax applicable during the Term, as it may be extended. Tenant's obligations for Real Property Taxes for the last full or partial year of the Term will survive the expiration or earlier termination of this Lease. If Landlord voluntarily prepays any assessment or Real Property Tax that would otherwise have been payable in installments during the Term, as it may be extended, Tenant shall nevertheless have the right to pay such assessment or Real Property Tax in installmen...
Tax Reimbursements. Details of any reimbursement of premium taxes that you pay on behalf of reinsurance payments to us are shown in Exhibit C, Section VIII. (Premium Taxes). We mutually agree to the following pursuant to Section 1.848-2 (g) (8) of the Income Tax Regulation issued December 29, 1992 under Section 848 of the Internal Revenue Code of 1986, as amended. This election will be effective for all taxable years for which this Agreement remains in effect. The terms used in this Section are defined in Regulation Section 1.848-2 in effect as of December 29, 1992. The term “net consideration” will refer to either net consideration as defined in Section 1.848-2 (f) or “gross premium and other consideration” as defined in Section 1.848-3 (b), as appropriate.
a) The party with the net positive consideration for this Agreement for each taxable year will capitalize specified policy acquisition expenses with respect to this Agreement without regard to the General Deductions Limitation of IRC Section 848 (c) (1).
b) We mutually agree to exchange information pertaining to the amount of net consideration under this Agreement each year to ensure consistency. We also mutually agree to exchange information otherwise required by the Internal Revenue Service.
