Common use of Withholding, Taxes, Etc Clause in Contracts

Withholding, Taxes, Etc. If at any time during or after the Agreement, any jurisdiction within the Territory requires that taxes be withheld from any payment (or portion thereof) of ICN's compensation under this Article 6, Schering may deduct such amount from the corresponding payment, or, if applicable, ICN will promptly reimburse Schering or its designee(s) such amounts. Schering shall provide ICN with documentation of such withholding and payment in a manner that is satisfactory for purposes of the U.S. Internal Revenue Service. Any withholdings paid when due hereunder shall be for the account of ICN and shall not be included in the calculation of Net Sales. ICN shall be liable for any deficiency, and any fine, assessment or penalty imposed by any taxing authority in the Territory for any deficiency in the amount of any such withholding or the failure to make such withholding payment; if Schering is required to pay any such deficiency, or any fine, assessment or penalty for any such deficiency, ICN shall promptly reimburse Schering for such payments, which shall not be included in the calculation of Net Sales. Notwithstanding the foregoing, in no event shall ICN be liable for any deficiency, fine, assessment or penalty resulting from Schering's failure to withhold the proper amount in accordance with the written instructions of ICN to Schering given in accordance with Section 15.7 hereof.

Withholding, Taxes, Etc. If at any time during or after the Agreement, any jurisdiction within the Territory requires that taxes be withheld from any payment (or portion thereof) of ICN's compensation under this Article 6, Schering may deduct such amount from the corresponding payment, or, if applicable, ICN will promptly reimburse Schering or its designee(s) such amounts. Schering shall provide ICN with documentation of such withholding and payment in a manner that is satisfactory for purposes of the U.S. Internal Revenue Service. Any withholdings paid when due hereunder shall be for the account of ICN and shall not be included in the calculation of Net Sales. ICN shall be liable for any deficiency, and any fine, assessment or penalty imposed by any taxing authority in the Territory for any deficiency in the amount of any such withholding or the failure to make such withholding payment; if Schering is required to pay any such deficiency, or any fine, assessment or penalty for any such deficiency, ICN shall promptly reimburse Schering for such payments, which shall not be included in the calculation of Net Sales. Notwithstanding the foregoing, in no event shall ICN be liable for any deficiency, fine, assessment or penalty resulting from Schering's failure to withhold the proper amount in accordance with the written instructions of ICN to Schering given in accordance with Section 15.7 hereof.in