WITHHOLDING REQUIRED Clause Samples
The "Withholding Required" clause establishes that a party must withhold certain amounts from payments if required by law, typically for taxes or other governmental obligations. In practice, this means that if a payment is subject to withholding tax, the paying party will deduct the necessary amount before remitting the balance to the recipient, and may also be responsible for remitting the withheld sum to the appropriate authority. This clause ensures compliance with legal tax obligations and prevents either party from inadvertently violating tax laws, thereby allocating the risk of non-compliance and clarifying the parties' responsibilities regarding required withholdings.
WITHHOLDING REQUIRED. Each Optionee shall, no later than the date as of which the value derived from Stock Options first becomes includable in the gross income of the Optionee for income tax purposes, pay to the Company, or make arrangements satisfactory to the Committee regarding payment of, any federal, state or local taxes of any kind required by law to be withheld with respect to the Stock Options or their exercise. The obligations of the Company under the Plan shall be conditioned upon such payment or arrangements and the Optionee shall, to the extent permitted by law, have the right to request that the Company deduct any such taxes from any payment of any kind otherwise due to the Optionee.
WITHHOLDING REQUIRED. Notwithstanding anything herein to the contrary, your satisfaction of any tax-withholding requirements imposed by the Committee shall be a condition precedent to the Company’s obligation as may otherwise be provided hereunder to provide Shares to you and to the release of any restrictions as may otherwise be provided hereunder, as applicable; and the applicable part of this Option shall be forfeited upon your failure to satisfy such requirements with respect to the exercise of such part of this Option.
WITHHOLDING REQUIRED. Grantee shall, no later than the date as of which the value derived from an Option or share of Restricted Stock first becomes includable in the gross income of Grantee for income tax purposes, pay to the Company, or make arrangements satisfactory to the Compensation Committee regarding payment of, any federal, state or local taxes of any kind required by law to be withheld with respect to the Option, its exercise or the share of Restricted Stock. The obligations of the Company under this Agreement shall be conditioned upon such payment or arrangements and Grantee shall, to the extent permitted by law, have the right to request that the Company deduct any such taxes from any payment of any kind otherwise due to Grantee.
WITHHOLDING REQUIRED. Notwithstanding the foregoing, if (i) Jazz (A) assigns its rights and obligations hereunder to an Affiliate or Third Party outside the United States or Ireland, or (B) exercises its rights under this Agreement through an Affiliate or Third Party outside the United States or Ireland, and (ii) in either case, solely by reason of such act by Jazz, Treaty Benefits (as defined below) that would have been available become unavailable with respect to any payment required to be made by Jazz to Concert pursuant to this Agreement, then each such payment shall be increased so that Concert receives the same net amount (after satisfaction of any withholding tax obligation on such payment, as so increased) it would have received if Treaty Benefits had been available with respect to such payment. Concert shall use