Taxes and Penalties Clause Samples
The Taxes and Penalties clause defines which party is responsible for paying any taxes, duties, or government-imposed penalties that arise from the agreement. Typically, it specifies whether the buyer or seller must handle sales tax, value-added tax, or other similar charges, and may outline procedures for handling unexpected assessments or fines. This clause ensures that both parties clearly understand their financial obligations regarding government levies, thereby preventing disputes and unexpected costs related to tax liabilities.
Taxes and Penalties. 4.5.1. The applicable Goods and Service Tax (GST)along with applicable cess (if any) or any other taxes as applicable shall be payable extra, as applicable, from time to time.
4.5.2. All other statutory taxes, statutory dues, local levies, third party dues (i.e. electricity consumption charges etc.) as applicable shall be charged extra and shall have to be remitted along with the license fees for onward remittance to the respective Government agencies.
4.5.3. The Licensee shall indemnify Maha-Metro from any claims that may arise from the statutory authorities in connection with this tender document / license agreement. Any change in Tax structure or Govt. guidelines will be imposed on the property business space separately.
4.5.4. In the event of termination of the license agreement before the completion of the Lockin period, the License Fees and any other payment along with Security Deposit as the case may be submitted to Maha-Metro till date shall be forfeited and the Licensee shall be blacklisted.
Taxes and Penalties. 20.3.1 The Concessionaire shall have to pay all central/state/local govt. Taxes, cess and levies such as Non Agriculture Tax, Water Bills, Electric Bills, GST, Royalty etc. during the Concession Period. Any new levies, taxes, cess etc. if any, imposed by Government Authorities on Maha-Metro for awarding the Project shall be recovered from the Concessionaire separately by Maha-Metro.
20.3.2 The annual property tax /municipal tax, as applicable, shall be paid by Concessionaire, on behalf of Maha-Metro during the term of this Agreement.
20.3.3 The Concessionaire shall be solely responsible to pay all applicable International Taxes and shall bear all cost and expenses for various compliances with respect to FEMA/FERA regulations.
20.3.4 Other charges as applicable and detailed in the Concession Agreement shall have to be borne by the Concessionaire.
Taxes and Penalties. All taxes that encumber the goods referred to herein, as well as any penalties imposed as a result of irregular or illegal operation of the goods, shall be the sole responsibility of THE LESSEE.--------- In the event that new taxes are established that encumber or increase the current tax burden that THE LESSOR bears in accordance with this contract, THE LESSEE agrees to solely assume these additional taxes, paying them on the LESSOR's behalf.-
Taxes and Penalties. 4.2.1. All other statutory taxes, statutory dues, local levies, third party dues (i.e. electricity, water consumption charges etc.) as applicable shall be charged extra and shall have to be remitted along with the license fees for onward remittance to the respective Government agencies.
4.2.2. The successful bidder shall indemnify Maha-Metro from any claims that may arise from the statutory authorities in connection with this tender document / license agreement. Any change in Tax structure or Govt. guidelines will be imposed on the property business space separately.
4.2.3. In the event of termination of the license agreement before the completion of the Lockin period, the License Fees and any other payment along with Performance Security and Security Deposit as the case may be submitted to the Authority till date shall be forfeited and the Licensee shall be blacklisted.
Taxes and Penalties. The amount of an immediate and heavy financial need may include any amounts necessary to pay any federal, state or local income taxes or penalties reasonably anticipated to result from the distribution.
Taxes and Penalties. 20.4.1 The Concessionaire shall have to pay all Central/State/Local govt. Taxes, cess and levies such as Non Agriculture Tax, Property Tax, Water Bills, Electric Bills, GST, Royalty etc. during the Concession Period. Any new levies, taxes, cess etc. if any, imposed by Government Authorities on Maha-Metro for awarding the Project shall be recovered from the Concessionaire separately by Maha-Metro.
20.4.2 The annual property tax /municipal tax, as applicable, shall be paid by Concessionaire, on behalf of Maha-Metro during the term of this Agreement. For clarification purposes, the property tax liable on the Total Area Handed over to Maha-Metro shall be paid by Maha-Metro.
20.4.3 The Concessionaire shall be solely responsible to pay all applicable International Taxes and shall bear all cost and expenses for various compliances with respect to FEMA/FERA regulations.
20.4.4 Other charges as applicable and detailed in this Agreement shall have to be borne by the Concessionaire.
Taxes and Penalties. The Concessionaire shall have to pay all central/state/local govt. Taxes, cess and levies such as Non Agriculture Tax, Water Bills, Electric Bills, GST, Royalty etc. during the Concession Period. Any new levies, taxes, cess etc. if any, imposed by Government Authorities on Maha-Metro for awarding the Project shall be recovered from the Concessionaire separately by Maha-Metro. The annual property tax /municipal tax, as applicable, shall be paid by Concessionaire, on behalf of Maha-Metro during the term of this Agreement. The Concessionaire shall be solely responsible to pay all applicable International Taxes and shall bear all cost and expenses for various compliances with respect to FEMA/FERA regulations. Other charges as applicable and detailed in the Concession Agreement shall have to be borne by the Concessionaire. Payments Security & Escrow Accounts The Concessionaire will be required to maintain an Escrow Account with a Scheduled Commercial Bank, acceptable to Maha-Metro, as a payment security mechanism to protect the interest of Maha-Metro. All the Project Revenues shall be credited to this account and outflows of cash on account of payments to Maha-Metro and other purposes shall be debited, in accordance with the provisions of the Concession Agreement.
Taxes and Penalties. If any taxes, assessments, penalties or fines be incurred by Early Detect Inc. by reason of Distributor's conduct of its business, Distributor will assume all such obligations without recourse against Early Detect Inc. and will indemnify, exonerate and hold harmless Early Detect Inc. from and against any loss by reason thereof
Taxes and Penalties. Any and all taxes imposed or assessed by reason of this Agreement or its performance, including but not limited to withholding taxes ("retencion en la fuente" or equivalent) income, sales or use taxes, shall be paid/assumed by CDiscount Colombia.
Taxes and Penalties. Service Provider specifically agrees to indemnify ACCES and save it harmless from and against any and all claims, charges, taxes or penalties and demands which may be made by the Canada Revenue Agency (or any successor agency) requiring ACCES to pay any tax, including income tax under the Income Tax Act (Canada), in respect of any income tax or other tax payable by the Service Provider; and in respect of any and all claims, charges, taxes, or penalties and demands which may be made on behalf of or related to the Employment Insurance Act (Canada) or the Canada Pension Commission under the applicable statutes and regulations, with respect to any amount, including penalty amounts, which may, in the future, be found to be payable by ACCES in respect of the Service Provider or any of the employees of the Service Provider.