Common use of Withholding; Certification of Non-Foreign Status Clause in Contracts

Withholding; Certification of Non-Foreign Status. (a) If the Public Offering Entity or the Company shall be required to withhold any amounts by reason of any federal, state, local or foreign Tax rules or regulations in respect of any Exchange, then the Public Offering Entity or the Company, as the case may be, shall be entitled to take such action as it deems appropriate in order to ensure compliance with such withholding requirements, including at its option withholding shares of Class A Common Stock or Class D Common Stock, as applicable, with a Fair Market Value equal to the minimum amount of any Taxes which the Public Offering Entity or the Company, as the case may be, may be required to withhold with respect to such Exchange. To the extent that amounts are (or property is) so withheld and paid over to the appropriate taxing authority, such withheld amounts (or property) shall be treated for all purposes of this Agreement as having been paid (or delivered) to the applicable Class A Unitholder.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Clearwater Analytics Holdings, Inc.), Limited Liability Company Agreement (Clearwater Analytics Holdings, Inc.)

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Withholding; Certification of Non-Foreign Status. (a) If the Public Offering Entity or Corporation, the Company or any exchanging Subsidiary shall be required to withhold any amounts by reason of any federal, state, local or foreign Tax tax rules or regulations in respect of any Exchange, then the Public Offering Entity Corporation, the Company or the Companysuch Subsidiary, as the case may be, shall be entitled to take such action as it deems appropriate in order to ensure compliance with such withholding requirements, including including, at its option option, withholding shares of Class A Common Stock or Class D Common Stock, as applicable, with a Fair Market Value fair market value equal to the minimum amount of any Taxes which taxes that the Public Offering Entity Corporation, the Company or the Companysuch Subsidiary, as the case may be, may be required to withhold with respect to such Exchange. To the extent that amounts are (or property is) so withheld and paid over to the appropriate taxing authority, such withheld amounts (or property) shall be treated for all purposes of this Agreement as having been paid (or delivered) to the applicable Class A Company Unitholder.

Appears in 2 contracts

Samples: Exchange Agreement (Red Rock Resorts, Inc.), Exchange Agreement (Red Rock Resorts, Inc.)

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