Taxation of Payments. (a) Insofar as any payment that is due under this Agreement is subject to any tax, duty, levy, or other government imposition, the Party receiving the payment agrees to bear any and all such taxes, duties, levies or impositions. Each Party hereby authorizes the other Party to withhold such taxes, duties, levies or impositions from the payments in accordance with this Agreement if Biovest, any Sublicensee, any Transferee or Company is required to do so under the laws of the United States or any country where such taxes, duties, levies or impositions are payable. Whenever a Party deducts such tax, duty, levy or imposition from any payments due, then it shall furnish the other Party with a certificate showing the payment thereof to the United States or any applicable country.
(b) In the event any payments which are due under this Agreement are subject to value added taxation by any government, then the Party receiving the payment shall bear such value added tax in full and the Party making the payment shall be reimbursed therefor. If appropriate, the Party receiving payment may add such value added taxes to its royalty accounts, provided such value added taxes are credited against the other Party’s value added tax debt and the other Party is reimbursed in full with respect thereto. Notwithstanding anything herein to the contrary, the Party making the payment shall have no liability for any value added tax directly or indirectly relating thereto.
(c) In the event any payment is subject to a withholding or other income tax in any country, promptly following becoming aware of the applicability of any such tax, the Party making the payment shall so advise the other Party. The Party receiving the payment shall have the right to contest such tax or any such proposed withholding with the appropriate governmental body and the other Party shall provide, at receiving Party’s expense, reasonable cooperation in any such contest. The Parties shall provide each other with such receipts or other evidence of any tax withheld as is necessary to claim any credit or deduction available to it in other jurisdictions. Payments shall only be reduced for withholding taxes imposed by the jurisdiction out of which the payment is directly made.
(d) The Parties hereto agree that, for U.S. federal income tax purposes, this Agreement shall be treated as a contract described under Section 483 of the Internal Revenue Code, and that no U.S. federal income tax shall be withheld from any payme...
Taxation of Payments. Any payment made by or due under, or pursuant to the terms of this Agreement from a party to this Agreement to another party under this Agreement shall be free and clear of all Taxation whatsoever save only for any deductions or withholdings required by law.
Taxation of Payments. All payments to be made to the Executive hereunder will be subject to all applicable required withholding of federal, state, local, and foreign taxes, including income and employment taxes. Notwithstanding any provision of this Agreement to the contrary, in no event shall the Company nor its directors, officers, agents, or employees be liable to the Executive or to any taxing authority or agency on account of the Company’s failure to withhold any tax of any kind that may be owed to any federal, state, or local government agency arising from or relating to any compensation paid by the Company to the Executive under this Agreement; provided, however, that the Company shall be liable for the employer’s portion of any payroll withholding taxes related to any compensation paid by the Company to the Executive under this Agreement.
Taxation of Payments. ZENECA will withhold taxes from the royalty or other payments as required by the internal tax law of the U.K. In the case of such withholding being applicable, ISIS may apply for the reduction of rate of withholding tax under the U.K./U.S. Income Tax Treaty with the assistance of ZENECA and, provided the claim is accepted and ZENECA is duly authorized by the Inland Revenue, ZENECA will apply the reduced rate accordingly. If applicable laws required that taxes be withheld, ZENECA will deduct those taxes from the remittable payments, make timely payment of the taxes to the proper taxing authority, and send a confirmation of such payment in a form approved by the UK Inland Revenue to ISIS within 60 days following that payment.
Taxation of Payments. The Employer shall undertake to make deductions, -------------------- withholdings and tax reports with respect to payments and benefits under this Agreement to the extent that it reasonably and in good faith believes that it is required to make such deductions, withholdings and tax reports. All payments made by the Employer under this Agreement shall be net of any tax or other amounts required to be withheld by the Employer under applicable law. Nothing in this Agreement shall be construed to require the Employer to make any payments to compensate the Executive for any adverse tax effect associated with any payments or benefits or for any deduction or withholding from any payment or benefit.
Taxation of Payments. 4.1 Any sum payable by the Seller to the Buyer under this agreement shall be paid free and clear of any deduction or withholding whatsoever, save only as may be required by law.
4.2 If any deduction or withholding is required by law to be made from any payment by the Seller under this agreement or if the Buyer is subject to Taxation in respect of such payment the Seller shall increase the amount of the payment by such additional amount as is necessary to ensure that the net amount received and retained by the Buyer (after taking account of all deductions or withholdings or Taxation) is equal to the amount which it would have received and retained had the payment in question not been subject to any deductions or withholdings or Taxation provided that this paragraph shall not apply to any interest payable under paragraph 3.2 of this part of this schedule.
4.3 If, at any time after any increased payment is made by the Seller as a consequence of the application of this paragraph, the Buyer receives or is granted a credit against or remission from any Tax payable by it which it would not otherwise have received or been granted but for such increased payment, the Buyer shall, to the extent that it can do so without prejudicing the retention of the amount of such credit or remission, reimburse the Seller with the amount of such credit or remission.
Taxation of Payments. The licensor shall be responsible for and -------------------- shall bear any taxes levied upon payments received by the licensor and the licensor hereby authorizes the licensee to withhold such taxes from the payments which are payable to the licensor in accordance with this Agreement if the licensee is either required to do so under the applicable tax laws or directed to do so by an agency of the relevant government. Notwithstanding the above, the licensee shall not withhold taxes if the licensor provides the licensee all the necessary documentation to avoid withholding of taxes. In the event that a licensee does withhold taxes, as soon as practical the licensee shall submit to the licensor proper documentation confirming the licensor's payment of any such taxes for the licensor's account. Upon the licensor's written request, the licensee shall support the licensor in its legal efforts to minimize any such withholding taxes, and provide the licensor with information about and necessary for any documentation needed to reduce withholding to a legal minimum.
Taxation of Payments. The licensor shall be responsible for and -------------------- shall bear any taxes levied upon payments received by the licensor and the licensor hereby authorizes the licensee to withhold such taxes from the payments which are payable to the licensor in accordance with this Agreement if the licensee is either required to do so under the applicable tax laws or directed to do so by an agency of the relevant government. Upon the licensor's written request, the licensee shall support the licensor in its legal efforts to minimize any such withholding taxes, and provide the licensor with information about and necessary for any documentation needed to reduce withholding to a legal minimum.
Taxation of Payments. Any and all payments required to be made by CBH to RimAsia under any Transaction Document shall be paid free and clear of any taxes, withholdings or similar levies.
Taxation of Payments. ZGI shall be responsible for and shall -------------------- bear any taxes levied upon payments received by ZGI and ZGI hereby authorizes NN to withhold such taxes from the payments which are payable to ZGI in accordance with this Agreement if NN is either required to do so under the applicable tax laws or directed to do so by an agency of the relevant government. Upon ZGI's written request, NN shall with respect ot the laws of Denmark, support ZGI in its legal efforts to minimize any such withholding taxes, and provide ZGI with information about and necessary for any documentation needed to reduce withholding to a legal minimum.
