Tax Treaties Sample Clauses

Tax Treaties. (a) The Borrower shall not be required to make any additional payments under Clauses 12.1 or 12.2 if and to the extent that: (i) the Lender is not eligible by virtue of any applicable law or double tax treaty (ignoring, for the purpose of this sub-paragraph (i) only, any requirement to complete requisite documents or comply with any administrative procedures) to receive payments from the Borrower without deduction or withholding in respect of tax unless such non-eligibility results from a change in law, treaty or regulation occurring after the date of this Agreement or other circumstances beyond the reasonable control of the Lender in which case the Borrower shall be obliged to make additional payments under Clauses 12.1 or 12.2; (ii) the Lender is permitted by virtue of any applicable law or double tax treaty to receive payments from the Borrower without deduction or withholding in respect of tax but such deduction or withholding is required due to the Lender's failure to complete the requisite documents or administrative procedures to make a claim for relief or exemption under the applicable law or double tax treaty; or (iii) the Lender has not used its reasonable endeavours to maintain in force and effect any such relief or exemption under the applicable law or double tax treaty provided however that this Clause 12.3 (a) shall not apply if the Borrower has not complied with its obligations pursuant to Clause 12.3(b); (b) The Borrower agrees that it will co-operate with the Lender and provide such information as may be necessary to enable the Lender to complete any requisite documents and administrative procedures together with all necessary certifications required to claim exemption from withholding and deduction of taxes under any applicable law or double tax treaty for payments made hereunder and agrees to co-operate and provide all such information as may be necessary from time to time to ensure that such exemption is maintained in full force and effect.
Sample 1
Tax Treaties. The Lender shall notify the Borrower of any tax treaty exemptions from withholding tax that may be available to the Lender in connection with any sum payable under this Agreement and submit to the Borrower the necessary documents for purposes of confirming such exemption.
Sample 1

Related to Tax Treaties

  • Tax Treatment If any interest in any Loan Document is transferred to any Transferee which is organized under the laws of any jurisdiction other than the United States or any State thereof, the transferor Lender shall cause such Transferee, concurrently with the effectiveness of such transfer, to comply with the provisions of Section 3.5(iv).

  • Income Tax Treatment Employee and the Company acknowledge that it is the intention of the Company to deduct all amounts paid under Section 2 hereof as ordinary and necessary business expenses for income tax purposes. Employee agrees and represents that he will treat all such amounts as required pursuant to all applicable tax laws and regulations, and should he fail to report such amounts as required, he will indemnify and hold the Company harmless from and against any and all taxes, penalties, interest, costs and expenses, including reasonable attorneys' and accounting fees and costs, which are incurred by Company directly or indirectly as a result thereof.

  • Intended Tax Treatment Notwithstanding anything to the contrary herein or in any other Transaction Document, all parties to this Agreement covenant and agree to treat each Loan under this Agreement as debt (and all Interest as interest) for all federal, state, local and franchise tax purposes and agree not to take any position on any tax return inconsistent with the foregoing.

  • Agreed Tax Treatment Each Security issued hereunder shall provide that the Company and, by its acceptance or acquisition of a Security or a beneficial interest therein, the Holder of, and any Person that acquires a direct or indirect beneficial interest in, such Security, intend and agree to treat such Security as indebtedness of the Company for United States Federal, state and local tax purposes and to treat the Preferred Securities (including but not limited to all payments and proceeds with respect to the Preferred Securities) as an undivided beneficial ownership interest in the Securities (and payments and proceeds therefrom, respectively) for United States Federal, state and local tax purposes. The provisions of this Indenture shall be interpreted to further this intention and agreement of the parties.

  • Special Tax Treatment Capital gains treatment and 10-year forward income averaging authorized by IRC Sec. 402 do not apply to IRA distributions.

  • Federal Income Tax Treatment It is the intention of the Trust Depositor that the Trust be disregarded as a separate entity pursuant to Treasury Regulations Section 301.7701-3(b)(1)(ii) as in effect for periods after January 1, 1997. The Trust Certificate constitutes the sole equity interest in the Trust and must at all times be held by either the Trust Depositor or its transferee as sole owner. The Trust Depositor agrees not to take any action inconsistent with such intended federal income tax treatment. Because for federal income tax purposes the Trust will be disregarded as a separate entity, Trust items of income, gain, loss and deduction for any month as determined for federal income tax purposes shall be allocated entirely to the Trust Depositor (or subsequent purchaser of the Trust Certificate) as the sole Certificateholder.

  • Tax Rulings Neither the Company nor any of its Subsidiaries has requested or is the subject of or bound by any private letter ruling, technical advice memorandum, or similar ruling or memorandum with any taxing authority with respect to any material Taxes, nor is any such request outstanding.

  • Tax Treatment of Payments Except to the extent otherwise required pursuant to a “determination” (within the meaning of Section 1313(a) of the Code or any similar provision of state, local or foreign Law), Seller, Purchaser, the Company and their respective Affiliates shall treat any and all payments under this Article ‎VII, Section ‎‎2.7 and ‎Article ‎X as an adjustment to the Purchase Price for Tax purposes.

  • Accounting and Tax Treatment Each of the Parties undertakes and agrees to use its reasonable efforts to cause the Merger, and to take no action which would cause the Merger not, to qualify for treatment as a pooling of interests for accounting purposes or as a "reorganization" within the meaning of Section 368(a) of the Internal Revenue Code for federal income tax purposes.

  • Tax Treatment of Indemnity Payments Seller and Buyer agree to treat any indemnity payment made pursuant to this Article X as an adjustment to the Purchase Price for Tax purposes.

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