Treatment of Tax Sample Clauses

Treatment of Tax. ➢ Cash inflows & Cash outflows should be taken Net of Tax provided cash inflows & outflows are part of the profit & loss account (Tax Saving or Tax Paid only on revenue items not on Capital items). ➢ Tax savings should be taken as cash inflows like tax savings on depreciation, tax savings due to loss on sale of asset. ➢ Treatment of Tax when Cash inflow & Cash outflow arises from the Beginning of each year. Training expense incurred at the beginning of the Year 1 or in Year 0 `10, 000. Tax Rate@40%. Calculate Inflow & outflow for each year. Year Cash Flow 0 - 10,000 + 4,000 = (-) 6,000 1 Nil Year Cash Flow 0 -10,000 1 + 4,000 There will be difference in answer under both alternatives. Break-even lease rentals are those rentals at which:

Treatment of Tax. The Chargers and the City acknowledge and agree that, except as otherwise provided by this paragraph 2, the provisions of Section 13 of the Agreement shall remain in full force and effect and that the Chargers shall continue to be entitled to a reimbursement or credit against consideration due or to become due to the City for certain taxes (the “Taxes”) payable by the Chargers, as provided by Section 13 of the Agreement. Starting with the first Home Game in 2004 the Chargers may prorate the credit provided in Section 13 of the Agreement among the Home Games during each Regular Football Season in the following manner. For each Home Game the Chargers may take a credit equal to the total amount of tax credit to which the Chargers were entitled with respect to the preceding Regular Football Season divided by the number of Home Games (excluding Post-Season Games). If, following actual payment by the Chargers of the Taxes it is determined that the total credit taken by the Chargers for that Regular Football Season exceeds the credit the Chargers would otherwise be entitled to under Section 13, the Chargers shall pay the amount of the excess to the City within thirty (30) days following payment of such Taxes. If, following actual payment by the Chargers of the Taxes, the Chargers determine that the total credit taken by the Chargers for that Regular Football Season is less than the amount of the credit to which the Chargers would otherwise be entitled under Section 13, the Chargers may either offset the amount of the additional credit due from the next payment the Chargers are to pay the City, or require the City to reimburse the Chargers the amount of the additional credit due within thirty (30) days following notification thereof by the Chargers.

Treatment of Tax. For purposes of this title, the tax imposed by this paragraph shall be treated as im- posed by chapter 1 other than for purposes of determining the amount of any credit allow- able under chapter 1 and shall be paid by the partnership. Section 6655 shall be applied to such partnership with respect to such tax in the same manner as if the partnership were a corporation, such tax were imposed by sec- tion 11, and references in such section to taxable income were references to the gross income referred to in subparagraph (A).

Treatment of Tax. It is the contemplation of the parties to this Agreement that no possessory interest or similar tax shall be imposed upon the Chargers by any taxing agency or agencies in the County of San Diego or State of California during the term of this Agreement inasmuch as, among other things, the Chargers do not have exclusive and continuous use and control of the Stadium or Stadium Premises. However, in the event that any possessory interest or similar tax is imposed upon the Chargers in connection with this Agreement or the Facilities Occupancy Agreement or upon Associates in connection with the 1995 Skybox Agreement by any taxing agency or agencies in San Diego County during the term of this Agreement, then, upon payment of said tax by the Chargers or Associates, one hundred percent (100%) of the amount of said tax imposed upon the Chargers relating to this Agreement, fifty percent (50%)_ of said tax imposed upon the Chargers in connection with the Facilities Occupancy Agreement and fifty percent (50%) of said tax imposed upon Associates in connection with the 1995 Skybox Agreement, shall be a credit against any and all consideration due or to become due from the Chargers under the terms of this Agreement for the period of occupancy on which said tax is based. If said consideration has been paid prior to the time when said tax is paid, then the Chargers shall have a credit with respect to consideration to become due under the terms of this Agreement and if none, the City shall reimburse the Chargers in the amount of said tax (or fifty percent (50%) of the amount thereof with respect to the 1995 Skybox Agreement and fifty percent (50%) of the amount thereof with respect to the Facilities Occupancy Agreement) forthwith upon written request from the Chargers. The provisions of this Section 13 shall apply throughout the term of this Agreement and any extensions thereof.

Treatment of Tax. It is the contemplation of the parties to this Agreement that no possessory interest or similar tax shall be imposed upon the Chargers by any taxing agency or agencies in the County during the term of this Agreement. However, in the event that any possessory interest or similar tax is imposed upon the Chargers in connection with the Premises or this Agreement by any taxing agency or agencies in the County during the term of this Agreement, then, upon payment of said tax by the Chargers, fifty percent (50%) of the amount of said tax, shall be a credit against any and all consideration due or to become due from the Chargers under the terms of the Stadium Agreement for the period of occupancy on which said tax is based, and if said consideration has been paid prior to the time when said tax is paid, then the Chargers shall have a credit with respect to the next consideration to become due under the terms of the Stadium Agreement and if none, the City shall reimburse the Chargers in the amount of fifty percent (50%) of said tax forthwith upon written request from the Chargers. The provisions of this Paragraph 4.3 shall apply for the term of this Agreement or any extensions thereof.

Treatment of Tax. (a) It is clarified that all taxes and duties payable by Greenply, accruing and relating to the operations of the Demerged Undertaking from the Appointed Date onwards, including all advance tax payments, tax deducted at source, any refund and claims shall, for all purposes, be treated as advance tax payments, tax deducted at source or refunds and claims of Greenlam. Accordingly, upon this Scheme becoming effective, Greenply is expressly permitted to revise, and Greenlam is expressly permitted to file their respective income tax returns, including tax deducted at source certificates, sales tax/ value added tax returns, excise returns, service tax returns and other tax returns for the period commencing on and from the Appointed Date, and to claim refunds/ credits, pursuant to the provisions of this Scheme. (b) All the expenses incurred by Greenply and Greenlam in relation to the Scheme including stamp duty expenses shall be allowed as deduction to each of Greenply and Greenlam in accordance with Section 35DD of the Income Tax Act,1961 over a period of 5 years beginning with the previous year in which the Scheme becomes effective. (c) All expenses paid by Greenply under Section 43B of the Income tax Xxx, 0000, in relation to the Demerged Undertaking, shall be claimed as a deduction by Greenlam and the transfer of Demerged Undertaking shall be considered as succession of business by Greenlam. (d) All tax benefits being claimed by Greenply in relation to its Demerged Undertaking under the Income Tax Act, 1961, including but not limited to Section 80-IC of the Income Tax Xxx 0000, shall be transferred to Greenlam pursuant to the Scheme.

Related to Treatment of Tax

Treatment of Taxes Except as otherwise provided in the Loan Agreement, the proceeds of the Loan may be withdrawn to pay for taxes levied by, or in the territory of, the Borrower or the Guarantor on the goods or services to be financed under the Loan, or on their importation, manufacture, procurement or supply. Financing of such taxes is subject to the Bank’s policy of requiring economy and efficiency in the use of the proceeds of its loans. To that end, if the Bank shall at any time determine that the amount of any taxes levied on or in respect of any item to be financed out of the proceeds of the Loan is excessive or otherwise unreasonable, the Bank may, by notice to the Borrower, adjust the percentage for withdrawal set forth or referred to in respect of such item in the Loan Agreement as required to be consistent with such policy of the Bank.” (b) Section 6.03 (c) of the General Conditions is amended by replacing the words “corrupt or fraudulent” with the words “corrupt, fraudulent, collusive or coercive”. Section 1.02. Unless the context otherwise requires, the several terms defined in the General Conditions and in the Preamble to this Agreement have the respective meanings therein set forth and the following additional terms have the following meanings:
Payment of Tax A Party receiving a payment pursuant to this Article 8 shall pay any and all taxes levied on such payment. If applicable Law requires that taxes be deducted and withheld from a payment made pursuant to this Article 8, the remitting Party shall promptly notify the other Party and provide all relevant information available to it and (i) deduct those taxes from the payment; (ii) pay the taxes to the proper taxing authority; and (iii) send evidence of the obligation together with proof of payment to the other Party within sixty (60) days following that payment.
Payment of Taxes and Claims; Tax Consolidation The Company shall pay, and cause each of its Subsidiaries to pay, (a) all material taxes, assessments and other governmental charges imposed upon it or on any of its properties or assets or in respect of any of its franchises, business, income or property before any penalty or interest accrues thereon, and (b) all claims (including, without limitation, claims for labor, services, materials and supplies) for sums which have become due and payable and which by law have or may become a Lien (other than a Lien permitted by Section 7.03) upon any of the Company’s or such Subsidiary’s property or assets, prior to the time when any penalty or fine shall be incurred with respect thereto; provided, however, that no such taxes, assessments and governmental charges referred to in clause (a) above or claims referred to in clause (b) above (and interest, penalties or fines relating thereto) need be paid if being contested in good faith by appropriate proceedings diligently instituted and conducted and if such reserve or other appropriate provision, if any, as shall be required in conformity with Agreement Accounting Principles shall have been made therefor.
Payment of Taxes The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of the Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.
Payment of Taxes, Etc Pay and discharge, and cause each of its Subsidiaries to pay and discharge, before the same shall become delinquent, (i) all taxes, assessments and governmental charges or levies imposed upon it or upon its property and (ii) all lawful claims that, if unpaid, might by law become a Lien upon its property; provided, however, that neither the Borrower nor any of its Subsidiaries shall be required to pay or discharge any such tax, assessment, charge or claim that is being contested in good faith and by proper proceedings and as to which appropriate reserves are being maintained, unless and until any Lien resulting therefrom attaches to its property and becomes enforceable against its other creditors.
Allocation of Taxes For purposes of determining the amount of Taxes that relate to Pre-Closing Tax Periods and Straddle Periods for purposes of any obligation to indemnify for Taxes under Section 4.2(b) the parties agree to use the following conventions: (1) Taxes in the form of interest, penalties, additions to tax or other additional amounts that are actually incurred, accrued, assessed or similarly charged on or after the Closing Date but that relate to Taxes that accrued on or before the Closing Date shall be treated as occurring prior to the Closing Date; (2) Except for Taxes for which the Operating Partnership is responsible hereunder and for real estate taxes (apportioned pursuant to Section 1.5), for all Taxes that are payable with respect to any Straddle Period, the portion of such Tax that is attributable to the portion of the Straddle Period ending on the Closing Date shall be allocated between the portion of the period ending on the Closing Date and the portion of the period beginning after the Closing Date using the following conventions: (i) in the case of such Taxes resulting from, or imposed on, net or gross income, Taxes resulting from, or imposed on, any sale, receipt, use, transfer or assignments of property or other asset, or Taxes resulting from, or imposed on, any payment or accrual of any amounts (including, without limitation, dividends, interest, or wages), the amount allocated to the portion of the period ending on the Closing Date shall be the amount of Tax that would be payable for such portion of the Straddle Period if such Person filed a separate Tax Return with respect to such Taxes or Taxes solely for the portion of the Straddle Period ending on the Closing Date using a “closing of the books” methodology for allocating items of such Tax Return; and (ii) in the case of all other such Taxes, the amount allocated to the portion of the period ending on the Closing Date shall equal to the amount of Taxes for the entire Straddle Period multiplied by a fraction the numerator of which is the number of calendar days in the portion of the period ending on the Closing Date and the denominator of which is the number of calendar days in the entire Straddle Period. For purposes of clause (1), any item determined on an annual or periodic basis (including amortization and depreciation deductions and the effects of graduated rates) shall be allocated to the portion of the Straddle Period ending on the Closing Date based on the relative number of days in such portion of the Straddle Period as compared to the number of days in the entire Straddle Period.
Deduction of Tax It is not required to make any deduction for or on account of Tax from any payment it may make under any Finance Document.
Definition of Taxes For the purposes of this Agreement, "Tax" or "Taxes" refers to any and all federal, state, local and foreign taxes, including, without limitation, gross receipts, income, profits, sales, use, occupation, value added, ad valorem, transfer, franchise, withholding, payroll, recapture, employment, excise and property taxes, assessments, governmental charges and duties together with all interest, penalties and additions imposed with respect to any such amounts and any obligations under any agreements or arrangements with any other person with respect to any such amounts and including any liability of a predecessor entity for any such amounts.
Payment of Taxes and Claims The Company will and will cause each of its Subsidiaries to file all tax returns required to be filed in any jurisdiction and to pay and discharge all taxes shown to be due and payable on such returns and all other taxes, assessments, governmental charges, or levies imposed on them or any of their properties, assets, income or franchises, to the extent such taxes and assessments have become due and payable and before they have become delinquent and all claims for which sums have become due and payable that have or might become a Lien on properties or assets of the Company or any Subsidiary, provided that neither the Company nor any Subsidiary need pay any such tax or assessment or claims if (i) the amount, applicability or validity thereof is contested by the Company or such Subsidiary on a timely basis in good faith and in appropriate proceedings, and the Company or a Subsidiary has established adequate reserves therefor in accordance with GAAP on the books of the Company or such Subsidiary or (ii) the nonpayment of all such taxes and assessments in the aggregate could not reasonably be expected to have a Material Adverse Effect.
Apportionment of Taxes If the Acquired Company is permitted, but not required, under applicable foreign, state or local Income Tax Laws to treat the Closing Date as the last day of a taxable period, such day shall be treated as the last day of a taxable period. All Taxes and Tax liabilities with respect to the Acquired Company that relate to a Straddle Period shall be apportioned between the Pre-Closing Tax Period and the Post-Closing Tax Period as follows: (a) in the case of Taxes that are either (i) based upon or measured by reference to income, receipts, profits, capital, or net worth (including sales and use Taxes), (ii) 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 (as provided under Section 7.7.6), or (iii) required to be withheld, such Taxes apportioned to the Pre-Closing Tax Period shall be deemed equal to the amount which would be payable if the Tax year (or other Tax reporting period to the extent such Taxes are reported and paid other than on an annual basis) ended at the end of the day on the Closing Date; and (b) in the case of all other Taxes, such Taxes apportioned to the Pre-Closing Tax Period shall be deemed to be 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), multiplied by a fraction, the numerator of which is the number of calendar days in the period ending on the Closing Date and the denominator of which is the number of calendar days in the entire period. Notwithstanding anything to the contrary in this Agreement, (A) any deduction attributable to any Selling Expenses (including any amount that would have been included in calculating Selling Expenses but for the fact that such amount was paid prior to the Closing) shall be allocated to the Pre-Closing Tax Period to the extent permitted by applicable Laws, (B) any Taxes attributable to any action taken by Buyer or the Acquired Company on or after the Closing Date that is not in the ordinary course of business shall be allocated to the taxable period beginning after the Closing on the Closing Date, and (C) for the avoidance of doubt, payment of any and all Taxes and Tax-related expenses attributable to any action taken by the Acquired Company or Seller pursuant to Sections 2.3.2, 2.3.3 and 2.3.4 of this Agreement shall be the responsibility of Seller.

Treatment of Tax Sample Clauses

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