Common use of Taxation of the Seller Clause in Contracts

Taxation of the Seller. During the Term the Seller shall not be subject to taxation in Pakistan on its profits and gains derived from sale of electricity under the Energy Purchase Agreement, as provided under Clause (132) of Part I of Second Schedule to the Income Tax Ordinance 2001, as in effect on the date hereof or payments in lieu thereof, including payments made by the GOP to the Seller under Section 15.1 (Compensation upon Termination); provided, that any change in Clause (132) of Part I of Second Schedule to the Income Tax Ordinance 2001 or its application to the Seller shall not give rise to a breach or default of the GOP hereunder so long as such change results in a Change in Tax as provided in Section 14.4 and Schedule 1 to the Energy Purchase Agreement.

Taxation of the Seller. During the Term the Seller shall not be subject to taxation in Pakistan on its profits and gains derived from sale of electricity under the Energy Purchase Agreement, as provided under Clause (132) 132 of Part I of Second Schedule to the Income Tax Ordinance Ordinance, 2001, as in effect on the date hereof or payments in lieu thereof, including payments made by the GOP to the Seller under Section 15.1 (Compensation upon Termination); provided, that any change in Clause (132) 132 of Part I of Second Schedule to the Income Tax Ordinance Ordinance, 2001 or its application to the Seller shall not give rise to a breach or default of the GOP hereunder so long as such change results in a Change in Tax as provided in Section 14.4 and Schedule 1 to the Energy Purchase Agreement.

Taxation of the Seller. During the Term the Seller shall not be subject to taxation in Pakistan on its profits and gains derived from sale of electricity under the Energy Purchase Agreement, as provided under Clause (132) 132 of Part I of Second Schedule to the Income Tax Ordinance Ordinance, 2001, as in effect on the date hereof or payments in lieu thereof, including payments made by the GOP to the Seller under Section 15.1 (Compensation upon Termination); provided, that any change in [Clause (132) 132]6 of Part I of Second Schedule to the Income Tax Ordinance Ordinance, 2001 or its application to the Seller shall not give rise to a breach or default of the GOP hereunder so long as such change results in a Change in Tax as provided in Section 14.4 and Schedule 1 to the Energy Purchase Agreement.