Common use of Underwithholding Clause in Contracts

Underwithholding. 7.1 Where the QI establishes that it should have withheld an amount from payments made to the Client and such amounts were not withheld, the QI may either withhold from future payments made to the Client or satisfy the tax from property that it holds in custody for the Client or property over which it has control. The rights of the QI pursuant to this Article 7 may be exercised only if and to the extent that there are insufficient funds in the Deposit to reimburse the T1CB or the T1CB is not entitled to access the funds in the Deposit.

Underwithholding. 7.1 Where the QI establishes that it should have withheld an amount from payments made to the Client and such amounts were not withheld, the QI may either withhold from future payments made to the Client or satisfy the tax from property that it holds in custody for the Client or property over which it has control. The rights of the QI pursuant to this Article 7 may be exercised only if and to the extent that there are insufficient funds in the Deposit to reimburse the T1CB T4CB or the T1CB T4CB is not entitled to access the funds in the Deposit.

Underwithholding. 7.1 Where the QI establishes that it should have withheld an amount from payments made to the Client and such amounts were not withheld, the QI may either withhold from future payments made to the Client or satisfy the tax from property that it holds in custody for the Client or property over which it has control. The rights of the QI pursuant to this Article 7 may be exercised only if and to the extent that there are insufficient funds in the Deposit to reimburse the T1CB T2CB or the T1CB T2CB is not entitled to access the funds in the Deposit.

Underwithholding. 7.1 Where the QI establishes that it should have withheld an amount from payments made to the Client and such amounts were not withheld, the QI may either withhold from future payments made to the Client or satisfy the tax from property that it holds in custody for the Client or property over which it has control. The rights of the QI pursuant to this Article 7 may be exercised only if and to the extent that there are insufficient funds in the Deposit to reimburse the T1CB T3CB or the T1CB T3CB is not entitled to access the funds in the Deposit.