Taxable Transaction Sample Clauses
A Taxable Transaction clause defines whether a particular transaction is subject to taxation under applicable laws. It typically clarifies which party is responsible for paying any taxes arising from the transaction, such as sales tax, value-added tax, or other government-imposed charges. By specifying tax obligations, this clause helps prevent disputes over tax liability and ensures both parties understand their financial responsibilities related to the transaction.
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Taxable Transaction. ONB and Purchaser intend for the Transaction to qualify as a taxable transaction, and ONB agrees to join in an election under Section 338(h)(10) of the Internal Revenue Code of 1986 or any successor law, and regulations issued by the Internal Revenue Service (“IRS”) pursuant to the Internal Revenue Code or any successor law (the “Code”), if requested by Purchaser.
Taxable Transaction. The Merger is intended not to constitute a reorganization within the meaning of Section 368(a) of the Code. The parties hereto agree to report the Merger consistent with such treatment.
Taxable Transaction. Seller agrees to treat this transaction as a fully taxable transaction for income tax purposes and shall not take any actions inconsistent with such treatment.
Taxable Transaction. The Company acknowledges that the Arrangement and the transactions contemplated by this Agreement may result in the Transaction Consideration payable to the Company Shareholders upon consummation of the Arrangement being taxable to such shareholders.
Taxable Transaction. HMC and Buyer agree to treat this transaction as a fully taxable transaction for Tax purposes and shall not take any actions inconsistent with such treatment.
Taxable Transaction. The Merger is intended to be a taxable transaction. The Parties agree to report the Merger consistent with this intent.
Taxable Transaction. P▇▇▇▇▇▇ understands that tender, transfer and conveyance of the Settlement Shares to Assure for cancellation at Closing in satisfaction of the P▇▇▇▇▇▇’ Debt shall be treated as a disposition of the Settlement Shares. P▇▇▇▇▇▇ shall bear responsibility for all taxes, if any, as a result of the transactions contemplated by this Agreement.
Taxable Transaction. The Stockholders hereby agree that (a) the sale of Shares contemplated in this Agreement is intended to be a taxable transaction for United States federal income tax purposes, (b) they will report the sale of Shares as a taxable transaction and (c) at no time will they take a position inconsistent with this treatment.
Taxable Transaction. The Merger is intended to be a taxable transaction under the Internal Revenue Code of 1986, as amended (the "Code").
Taxable Transaction. The parties hereto acknowledge that the Merger is intended to be treated for Tax purposes as a taxable sale of the Purchased Indebtedness and stock of TDK.