Common use of Withholding Tax or Other Similar Taxes Clause in Contracts

Withholding Tax or Other Similar Taxes. If any withholding or deduction from any payment under this Agreement by Recipient in relation to any Service is required in respect of any taxes pursuant to any applicable Law, Recipient shall: (i) gross up the amount payable such that Provider receives an amount equal to the amount of the Service Charges in respect of that Service, net of the withholding or deduction; (ii) deduct such tax from the amount payable to Provider; (iii) timely pay the deducted amount referred to in clause (ii) to the relevant Governmental Authority (including any Taxing Authority); and (iv) promptly forward to Provider a withholding tax certificate evidencing such timely payment.

Appears in 4 contracts

Samples: Transition Services Agreement (GE Vernova Inc.), Transition Services Agreement (GE Vernova LLC), Transition Services Agreement (GE HealthCare Technologies Inc.)

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Withholding Tax or Other Similar Taxes. If any withholding or deduction from any payment under this Agreement by Recipient in relation to any Service is required in respect of any taxes pursuant to any applicable Law, Recipient shallwill: (i) gross up the amount payable such that Provider Seller receives an amount equal to the amount of the Service Charges in respect of that Service, net of the withholding or deduction; (ii) deduct such tax from the amount payable to ProviderSeller; (iii) timely pay the deducted amount referred to in clause (ii) to the relevant Governmental Authority Entity (including any Taxing Tax Authority); and (iv) promptly forward to Provider Seller a withholding tax certificate evidencing such timely that payment.

Appears in 1 contract

Samples: Stock and Asset Purchase Agreement (RBC Bearings INC)

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