{"component": "clause", "props": {"groups": [{"size": 9, "samples": [{"hash": "c9Q8Ixe8qi7", "uri": "/contracts/c9Q8Ixe8qi7#taxes-payable", "label": "Indemnification & Liability (NXT Energy Solutions Inc.)", "score": 25.3258037567, "published": true}, {"hash": "8XYezNrZrD5", "uri": "/contracts/8XYezNrZrD5#taxes-payable", "label": "Indemnification Agreement (Oilsands Quest Inc)", "score": 22.0458583832, "published": true}, {"hash": "8xA3dUIhlhY", "uri": "/contracts/8xA3dUIhlhY#taxes-payable", "label": "Indemnification Agreement (NXT Energy Solutions Inc.)", "score": 21.4900760651, "published": true}], "snippet": "7.1 The Corporation agrees to reimburse the Indemnified Party for the net amount of all taxes payable by the Indemnified Party under the taxing laws of any jurisdiction as a result of the payment or reimbursement or Advance under this Agreement, including this clause, constituting a taxable benefit to the Indemnified Party.", "snippet_links": [{"key": "the-corporation", "type": "clause", "offset": [4, 19]}, {"key": "to-reimburse", "type": "definition", "offset": [27, 39]}, {"key": "indemnified-party", "type": "clause", "offset": [44, 61]}, {"key": "net-amount", "type": "definition", "offset": [70, 80]}, {"key": "all-taxes", "type": "clause", "offset": [84, 93]}, {"key": "any-jurisdiction", "type": "definition", "offset": [152, 168]}, {"key": "payment-or-reimbursement", "type": "clause", "offset": [188, 212]}, {"key": "this-agreement", "type": "clause", "offset": [230, 244]}, {"key": "this-clause", "type": "clause", "offset": [256, 267]}, {"key": "taxable-benefit", "type": "clause", "offset": [284, 299]}], "hash": "840eb2b7a0c48da418832032ef64b9ed", "id": 1}, {"size": 7, "samples": [{"hash": "gY6Ua3ZjHCE", "uri": "/contracts/gY6Ua3ZjHCE#taxes-payable", "label": "Cooperative Joint Venture Agreement (Integrated Carbonics Corp)", "score": 18.0, "published": true}, {"hash": "fAix8sXqcql", "uri": "/contracts/fAix8sXqcql#taxes-payable", "label": "Cooperative Joint Venture Agreement (Integrated Carbonics Corp)", "score": 18.0, "published": true}, {"hash": "coKB38dXRtb", "uri": "/contracts/coKB38dXRtb#taxes-payable", "label": "Joint Venture Agreement (Integrated Carbonics Corp)", "score": 18.0, "published": true}], "snippet": "The JVC shall pay taxes in accordance with the applicable laws and regulations of PRC, and shall enjoy the preferential tax treatment it is entitled to under the Income Tax Law for Foreign Investment Enterprises and other applicable laws and regulations of PRC. In respect, Party A shall give its utmost assistance.", "snippet_links": [{"key": "pay-taxes", "type": "clause", "offset": [14, 23]}, {"key": "in-accordance-with", "type": "clause", "offset": [24, 42]}, {"key": "the-applicable", "type": "clause", "offset": [43, 57]}, {"key": "tax-treatment", "type": "clause", "offset": [120, 133]}, {"key": "income-tax-law", "type": "definition", "offset": [162, 176]}, {"key": "foreign-investment", "type": "definition", "offset": [181, 199]}, {"key": "other-applicable-laws-and-regulations", "type": "clause", "offset": [216, 253]}, {"key": "party-a", "type": "definition", "offset": [274, 281]}], "hash": "0953c71c57b512f7408aee25800a5fd7", "id": 2}, {"size": 2, "samples": [{"hash": "iaPUM2ikjGg", "uri": "/contracts/iaPUM2ikjGg#taxes-payable", "label": "Equity and Asset Purchase Agreement (Shift Technologies, Inc.)", "score": 33.3613967896, "published": true}, {"hash": "k6W4C1w0Lq2", "uri": "/contracts/k6W4C1w0Lq2#taxes-payable", "label": "Asset Purchase Agreement (Shift Technologies, Inc.)", "score": 33.1998634338, "published": true}], "snippet": "For purposes of this Agreement, the following portions of any Taxes payable with respect to a Tax period beginning on or prior to the Closing Date and ending after the Closing Date (a \u201cStraddle Period\u201d) shall be allocated to the Pre-Closing Tax Period:\n(i) in the case of Taxes that are either (A) based upon or related to income or receipts or (B) imposed in connection with any sale or other transfer or assignment of property (real or personal, tangible or intangible), other than conveyances pursuant to this Agreement, the amount which would be payable if the taxable year ended on the Closing Date; and\n(ii) in the case of Taxes imposed on a periodic basis with respect to the assets or otherwise measured by the level of any item, the amount equal to the product of (A) the amount of such Taxes for the entire period (or, in the case of such Taxes determined on an arrears basis, the amount of such Taxes for the immediately preceding period) and (B) a fraction, the numerator of which is the number of calendar days in the portion of the Straddle Period ending on (and including) the Closing Date and the denominator of which is the number of calendar days in the entire Straddle Period.", "snippet_links": [{"key": "for-purposes-of-this-agreement", "type": "clause", "offset": [0, 30]}, {"key": "with-respect-to", "type": "clause", "offset": [76, 91]}, {"key": "beginning-on", "type": "clause", "offset": [105, 117]}, {"key": "prior-to-the-closing-date", "type": "clause", "offset": [121, 146]}, {"key": "after-the-closing-date", "type": "clause", "offset": [158, 180]}, {"key": "straddle-period", "type": "definition", "offset": [185, 200]}, {"key": "allocated-to", "type": "definition", "offset": [212, 224]}, {"key": "the-pre", "type": "clause", "offset": [225, 232]}, {"key": "closing-tax-period", "type": "clause", "offset": [233, 251]}, {"key": "in-the-case", "type": "clause", "offset": [257, 268]}, {"key": "related-to", "type": "clause", "offset": [312, 322]}, {"key": "in-connection-with", "type": "clause", "offset": [357, 375]}, {"key": "assignment-of-property", "type": "clause", "offset": [406, 428]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [496, 522]}, {"key": "taxable-year", "type": "clause", "offset": [565, 577]}, {"key": "periodic-basis", "type": "definition", "offset": [648, 662]}, {"key": "the-assets", "type": "clause", "offset": [679, 689]}, {"key": "equal-to", "type": "definition", "offset": [749, 757]}, {"key": "the-product", "type": "clause", "offset": [758, 769]}, {"key": "preceding-period", "type": "definition", "offset": [932, 948]}, {"key": "number-of", "type": "clause", "offset": [1000, 1009]}, {"key": "days-in", "type": "definition", "offset": [1019, 1026]}, {"key": "period-ending", "type": "definition", "offset": [1055, 1068]}], "hash": "887865a2853576df6421f97fa01d3b37", "id": 3}, {"size": 2, "samples": [{"hash": "coKB38dXRtb", "uri": "/contracts/coKB38dXRtb#taxes-payable", "label": "Joint Venture Agreement (Integrated Carbonics Corp)", "score": 18.0, "published": true}, {"hash": "b6ALieqFAsx", "uri": "/contracts/b6ALieqFAsx#taxes-payable", "label": "Equity Joint Venture Agreement (Integrated Carbonics Corp)", "score": 18.0, "published": true}], "snippet": "The JVC shall pay taxes in accordance with the applicable laws and regulations of PRC, and shall enjoy the preferential treatment it is entitled to under the Income Tax Law for Foreign Investment Enterprises and other applicable laws and regulations of the province and of PRC. Party A shall, in this respect, provide its utmost assistance. 42. Profits Distribution:\n(1) the Board of Directors shall, within four months of the end of a financial year, and after deductions are made for common reserve, workers' compensation and pension, decide on the amount of retained earnings and the pro rata distribution of dividend.\n(2) any gross revenue generated annually in each Phase of operation shall first be used for payment of taxes, fees and charges in accordance with the provisions of applicable tax laws and regulations of PRC, and then applied for the recovery of costs in that Phase. The remainder shall be the profit to be allocated between Party A and Party B in accordance with their Share Interest.\n(3) Party B shall enjoy priority in receiving foreign exchange payment in any profit of the JVC. Foreign exchange will be U.S. Dollars converted from Renminbi, with the conversion rate being the average sell and buy rate at the People's Bank of China of the date when the Board of Directors decides to distribute profits. If the JVC does not have sufficient foreign exchange to advance to Party B, the JVC shall, as instructed by Party B, convert the Renminbi profit payable to Party B at the bank at the average exchange rate for foreign exchanges, and pay such converted foreign exchange to Party B. If the JVC is unable to make such conversion, then it shall, as instructed by Party B, deposit an equivalent amount in Renminbi in an independent savings account opened in the name of the JVC for the benefit of Party B. The JVC or Party A shall not use the principal or interest thereon in this account. If Party B's instructions and requirements comply with the laws of PRC, the JVC should immediately perform the instructions of Party B to deposit Party B's profits into the bank account.", "snippet_links": [{"key": "pay-taxes", "type": "clause", "offset": [14, 23]}, {"key": "in-accordance-with", "type": "clause", "offset": [24, 42]}, {"key": "the-applicable", "type": "clause", "offset": [43, 57]}, {"key": "preferential-treatment", "type": "clause", "offset": [107, 129]}, {"key": "income-tax-law", "type": "definition", "offset": [158, 172]}, {"key": "foreign-investment", "type": "definition", "offset": [177, 195]}, {"key": "other-applicable-laws-and-regulations", "type": "clause", "offset": [212, 249]}, {"key": "the-province", "type": "clause", "offset": [253, 265]}, {"key": "profits-distribution", "type": "clause", "offset": [345, 365]}, {"key": "the-board-of-directors", "type": "definition", "offset": [371, 393]}, {"key": "four-months", "type": "definition", "offset": [408, 419]}, 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"score": 37.1533196441, "published": true}], "snippet": "8.1 Definium agrees to reimburse the Indemnitees for all taxes payable by the Indemnitees under the taxing laws of any jurisdiction, should the reimbursement of costs, charges and expenses under this Agreement, including this Section 8.1, constitute a taxable benefit to the Indemnitees.", "snippet_links": [{"key": "to-reimburse", "type": "definition", "offset": [20, 32]}, {"key": "all-taxes", "type": "clause", "offset": [53, 62]}, {"key": "any-jurisdiction", "type": "definition", "offset": [115, 131]}, {"key": "reimbursement-of-costs", "type": "clause", "offset": [144, 166]}, {"key": "expenses-under-this-agreement", "type": "clause", "offset": [180, 209]}, {"key": "section-81", "type": "clause", "offset": [226, 237]}, {"key": "taxable-benefit", "type": "clause", "offset": [252, 267]}], "hash": "f57181780bac915cb7b10d6aa94eb8dd", "id": 6}, {"size": 1, "samples": [{"hash": "jbvQ8wiiDbb", "uri": 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the procedures set forth in Section 8.4, upon Purchaser's request, Parent shall pay to Purchaser in immediately available funds within thirty (30) days following the filing of the applicable Tax Return, an amount equal to the Pre-Closing Taxes shown as owing on all Tax Returns of either Company filed or caused to be filed by Purchaser. Within thirty (30) days after receipt, Purchaser shall pay or cause to be paid to Parent any refund of Taxes received by Purchaser, any Company, or any Affiliate thereof after the Closing, or any Tax credit actually applied (to the extent so applied) to reduce the Taxes of Purchaser, any Company, or any Affiliate, for any period beginning after the Closing Date, to the extent that the Tax refunded or credited was paid on or before the Closing Date by any Company, Parent, or any Affiliate thereof for a period ending on or before the Closing Date (such portion with respect to a Straddle Period to be allocated consistently with the principles set forth in Section 5.8(c)).", "snippet_links": [{"key": "in-lieu-of", "type": "clause", "offset": [20, 30]}, {"key": "the-procedures", "type": "definition", "offset": [31, 45]}, {"key": "section-84", "type": "clause", "offset": [59, 70]}, {"key": "upon-purchaser", "type": "definition", "offset": [72, 86]}, {"key": "to-purchaser", "type": "definition", "offset": [115, 127]}, {"key": "immediately-available-funds", "type": "clause", "offset": [131, 158]}, {"key": "within-thirty", "type": "clause", "offset": [159, 172]}, {"key": "following-the", "type": "definition", "offset": [183, 196]}, {"key": "applicable-tax-return", "type": "definition", "offset": [211, 232]}, {"key": "equal-to", "type": "definition", "offset": [244, 252]}, {"key": "the-pre", "type": "clause", "offset": [253, 260]}, {"key": "closing-taxes", "type": "definition", "offset": [261, 274]}, {"key": "tax-returns", "type": "definition", "offset": [297, 308]}, {"key": "days-after", "type": "definition", "offset": [388, 398]}, {"key": "to-parent", "type": "definition", "offset": [448, 457]}, {"key": "refund-of-taxes", "type": "clause", "offset": [462, 477]}, {"key": "received-by-purchaser", "type": "clause", "offset": [478, 499]}, {"key": "tax-credit", "type": "clause", "offset": [565, 575]}, {"key": "to-the-extent", "type": "clause", "offset": [594, 607]}, {"key": "of-purchaser", "type": "clause", "offset": [640, 652]}, {"key": "period-beginning", "type": "definition", "offset": [693, 709]}, {"key": "after-the-closing-date", "type": "clause", "offset": [710, 732]}, {"key": "or-before-the-closing-date", "type": "clause", "offset": [794, 820]}, {"key": "period-ending", "type": "definition", "offset": [876, 889]}, {"key": "with-respect-to", "type": "clause", "offset": [934, 949]}, {"key": "straddle-period", "type": "definition", "offset": [952, 967]}, {"key": "the-principles", "type": "clause", "offset": [1002, 1016]}], "hash": "63453c3286b286a2dbe7415e06847350", "id": 8}, {"size": 1, "samples": [{"hash": "2wMSW4OdQc9", "uri": "/contracts/2wMSW4OdQc9#taxes-payable", "label": "Asset Purchase Agreement (Rubicon Technologies, Inc.)", "score": 35.3463363647, "published": true}], "snippet": "Buyer and Sellers shall cooperate in good faith to make any changes to such summary as the parties may deem appropriate, and Buyer shall remit to Sellers by wire transfer to an account designed by Sellers its share of any such Transfer Taxes up to a maximum amount of $100,000 (the \u201cBuyer\u2019s Transfer Tax Cap\u201d) at least one (1) Business Day prior to the applicable due date. Sellers shall promptly pay when due all such required amounts to the appropriate Governmental Authority. For the avoidance of doubt, (i) Sellers\u2019 share of Transfer Taxes shall constitute a Transaction Expense, (ii) Sellers shall be responsible for and promptly pay 100% of any Transfer Taxes in excess of $200,000, and (iii) Buyer\u2019s aggregate obligation in respect of Transfer Taxes shall not exceed Buyer\u2019s Transfer Tax Cap.", "snippet_links": [{"key": "buyer-and-sellers", "type": "clause", "offset": [0, 17]}, {"key": "in-good-faith", "type": "definition", "offset": [34, 47]}, {"key": "changes-to", "type": "clause", "offset": [60, 70]}, {"key": "the-parties", "type": "clause", "offset": [87, 98]}, {"key": "buyer-shall", "type": "clause", "offset": [125, 136]}, {"key": "to-sellers", "type": "clause", "offset": [143, 153]}, {"key": "transfer-to", "type": "definition", "offset": [162, 173]}, {"key": "by-sellers", "type": "clause", "offset": [194, 204]}, {"key": "transfer-taxes", "type": "definition", "offset": [227, 241]}, {"key": "maximum-amount", "type": "definition", "offset": [250, 264]}, {"key": "tax-cap", "type": "definition", "offset": [300, 307]}, {"key": "business-day", "type": "definition", "offset": [327, 339]}, {"key": "the-applicable", "type": "clause", "offset": [349, 363]}, {"key": "due-date", "type": "clause", "offset": [364, 372]}, {"key": "pay-when-due", "type": "clause", "offset": [397, 409]}, {"key": "required-amounts", "type": "clause", "offset": [419, 435]}, {"key": "appropriate-governmental-authority", "type": "definition", "offset": [443, 477]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [479, 505]}, {"key": "transaction-expense", "type": "clause", "offset": [563, 582]}, {"key": "responsible-for", "type": "clause", "offset": [606, 621]}, {"key": "in-respect-of", "type": "definition", "offset": [728, 741]}], "hash": "49be94503f05b5d9fec1e22379e5f6a3", "id": 9}, {"size": 1, "samples": [{"hash": "dCQnGWo6B8R", "uri": "/contracts/dCQnGWo6B8R#taxes-payable", "label": "Indemnification & Liability (Paramount Energy Trust)", "score": 19.0, "published": true}], "snippet": "The Corporation agrees to reimburse the Indemnitee for the net amount of tax payable by the Indemnitee under the taxing laws of any jurisdiction provided that such net taxes payable are directly a result of the payment or reimbursement of Expenses under this Agreement, including this clause, constituting a taxable benefit to the Indemnitee.", "snippet_links": [{"key": "the-corporation", "type": "clause", "offset": [0, 15]}, {"key": "to-reimburse", "type": "definition", "offset": [23, 35]}, {"key": "tax-payable", "type": "definition", "offset": [73, 84]}, {"key": "any-jurisdiction", "type": "definition", "offset": [128, 144]}, {"key": "provided-that", "type": "clause", "offset": [145, 158]}, {"key": "net-taxes", "type": "definition", "offset": [164, 173]}, {"key": "expenses-under-this-agreement", "type": "clause", "offset": [239, 268]}, {"key": "this-clause", "type": "clause", "offset": [280, 291]}, {"key": "taxable-benefit", "type": "clause", "offset": [308, 323]}], "hash": "7b1783a02ceef6dc9b488f2783ff46b9", "id": 10}], "next_curs": "ClYSUGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjILEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhZ0YXhlcy1wYXlhYmxlIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"size": 39, "title": "Taxes Payable", "parents": [["tax-matters", "Tax Matters"], ["covenants", "Covenants"], ["taxes", "Taxes"], ["joint-covenants", "Joint Covenants"], ["payment-and-calculation-of-interest-on-revolving-advances", "Payment and Calculation of Interest on Revolving Advances"]], "children": [], "id": "taxes-payable", "related": [["no-setoff-or-deductions-taxes-payments", "No Setoff or Deductions; Taxes; Payments", "No Setoff or Deductions; Taxes; Payments"], ["taxes-and-charges", "Taxes and Charges", "Taxes and Charges"], ["payment-taxes", "Payment Taxes", "Payment Taxes"], ["ad-valorem-taxes", "Ad Valorem Taxes", "Ad Valorem Taxes"], ["fees-payments", "Fees Payments", "Fees Payments"]], "related_snippets": [], "updated": "2026-02-28T04:48:56+00:00", "also_ask": ["What are the most negotiable elements in a Taxes Payable clause?", "Which party should bear responsibility for unexpected tax liabilities?", "What drafting language best limits exposure to future tax law changes?", "How do Taxes Payable clauses differ across jurisdictions or deal types?", "What are common enforceability challenges for Taxes Payable clauses in court?"], "drafting_tip": "Specify which taxes are payable, allocate responsibility for payment, and clarify timing to prevent disputes and ensure compliance.", "explanation": "The Taxes Payable clause defines which party is responsible for paying taxes related to the transaction or agreement. Typically, it specifies whether the buyer, seller, or both must pay certain taxes such as sales tax, value-added tax, or other government-imposed charges arising from the contract. By clearly allocating tax obligations, this clause helps prevent disputes and ensures that both parties understand their financial responsibilities regarding tax payments."}, "json": true, "cursor": ""}}