Capital Taxes definition

Capital Taxes means the amount determined by multiplying each of the “Applicable Rates” by the “Project Capital” and totalling the products. “Project Capital” is the amount of capital which Landlord determines, without duplication, is invested from time to time by Landlord, the owners or all of them, in doing all or any of the following: acquiring, developing, expanding, redeveloping and improving the Project. Project Capital will not be increased by any financing or refinancing (except to the extent that the proceeds are invested directly as Project Capital). An “Applicable Rate” is the capital tax rate specified from time to time under any statute of Canada and any statute of the Province which imposes a tax in respect of the capital of corporations. Each Applicable Rate will be considered to be the rate that would apply if none of Landlord or owners employed capital outside of the Province in which the Project is situate.

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Capital Taxes means capital taxes payable by Landlord in respect of its ownership or other interest in the Premises, namely any tax or taxes payable under any provincial or federal legislation based upon or computed by reference to the paid-up capital or place of business of Landlord as determined for the purposes of such tax or based upon or computed by reference to the taxable capital employed in Canada, or any similar tax levied, imposed or assessed in the future in lieu thereof or in addition thereto by any governmental authority, including large corporation’s taxes.

Capital Taxes means any tax or taxes, including any interest and penalties thereon, Charged upon the Landlord under Part I.3 of the Income Tax Act (Canada) (Tax on Large Corporations), or any similar or successor statute, based upon or computed by reference to the actual or deemed capital, taxable capital, taxable capital employed in Canada, paid-up capital, taxable paid-up capital, taxable paid-up capital employed in Canada, capital stock, members’ contributions, retained earnings, contributed capital or other surplus, reserves, indebtedness or other similar amounts, as such amounts may be determined for purposes thereof, as well as any tax or levy Charged by any Governmental Authority that is similar to, in lieu of, in substitution for any such tax or taxes.

Examples of Capital Taxes in a sentence

• Subject to Section 3.03, New BBX Capital shall pay, and shall indemnify and hold the Parent Group harmless from and against, without duplication, (a) all New BBX Capital Taxes, (b) all Taxes incurred by Parent or any Parent Entity arising out of, attributable to, or resulting from the breach by New BBX Capital of any of its covenants hereunder, and (c) any out-of-pocket costs and expenses related to the foregoing (including reasonable attorneys’ fees and expenses).

• Parent shall prepare and file all Parent Consolidated Returns for a Pre-Closing Period or a Straddle Period, and shall pay all Taxes shown to be due and payable on such Tax Returns; provided that New BBX Capital shall reimburse Parent for any such Taxes that are New BBX Capital Taxes.

• The Landlord shall be responsible and pay for, without reimbursement from the Tenant, all Landlord net income taxes, corporate taxes, commercial concentration taxes, business taxes (other than those payable by the Tenant pursuant to other provisions of this Lease and other than the business occupancy component of taxes, which shall in all events be payable by the Tenant), Capital Taxes and Canadian Withholding Taxes associated with the Demised Premises.

• If the Shareholders pay on, before or after the Closing Date, or cause the Company or its Subsidiaries to accrue on or before the Closing Date in the Final Working Capital, Taxes for any Straddle Period in excess of the amount ultimately determined to be due for the portion of such Straddle Period ending on the Closing Date and Buyer or the Acquired Group obtain the benefit by refund credit or otherwise of such excess payment, Buyer shall promptly refund such excess to Shareholders Agent.

• For the avoidance of doubt, in applying Section 6.1 or Section 6.2, the term “IRS” shall mean the relevant state, local or foreign Governmental Authority having jurisdiction over the assessment, determination, collection, or other imposition of any Income Taxes, Capital Taxes or Transfer Taxes.

More Definitions of Capital Taxes

Capital Taxes means an amount of the tax imposed by the federal and provincial tax authorities upon landlord, or the owner(s) of the Building, (and if the owner or one of the owners is a partnership, upon the partners of such partnership), which is measured by or based in whole or in part upon the capital, surplus, reserves or indebtedness of such landlord, owner(s) or partner(s), and including without limitation any taxes on large corporations.

Capital Taxes means any federal, provincial or local capital taxes calculated by reference either directly or indirectly to the assets, liabilities, or working capital of the Partnership, together with any interest, penalties or additions to such taxes and including, for greater certainty, all payments to the Province of Ontario in lieu of any of the foregoing and grants to communities or municipalities in lieu of any of the foregoing.

Capital Taxes means any tax or taxes levied against the Landlord and any owner of the Premises by any governmental authority having jurisdiction (including, without limitation, the Large Corporations Tax imposed under the Income Tax Act (Canada) and the tax imposed under any applicable provincial corporate tax legislation) based on or computed by reference to the paid-up capital or place of business of the Landlord or any owner of the Premises or the taxable capital employed in Canada by the Landlord or any owner of the Premises as determined for the purposes of such tax or taxes;

Capital Taxes means the amount allocated by the Landlord from time to time to the Land and the Building, of all taxes levied by the British Columbia Provincial Government or the Federal Government of Canada and payable by the Landlord which are based upon or computed by reference to the capital or place of business of the Landlord;

Capital Taxes means the amount determined by multiplying each of the “Applicable Rates” by the Capital and totalling the products. “Capital” is the amount of capital which Landlord determines, without duplication, is invested from time to time by Landlord, the owner(s) of the Building and the Land, any company related to Landlord or the owner(s) within the meaning of the Income Tax Act (Canada), or all of them, in doing all or any of the following: acquiring, developing, expanding, redeveloping and improving the Building and the Land. Capital will not be increased by any financing or re-financing except to the extent that the proceeds are invested in doing all or any of the foregoing. “Applicable Rate” is the capital tax rate specified from time to time under any law which imposes a tax in respect of the capital of corporations and for greater certainty includes Large Corporations Tax levied under the Income Tax Act (Canada) as amended from time to time. Each Applicable Rate will be considered to be the rate that would apply if each of Landlord, the owner(s) of the Building and the Land and the related companies referred to above were taxable corporations that employed no capital outside the Province in which the Land is located.

Capital Taxes means the amount of any tax or income tax imposed on the LESSOR or the owner of the building by federal or provincial tax authorities that is based or calculated, in whole or in part, on the capital or indebtedness of the LESSOR or of said owner, including, but without limiting the generality of the foregoing, any income tax on large corporations, and that is reasonably attributed to this building by the LESSOR or such owner. If the taxation system currently in force is modified and a new tax, surtax, charge, assessment or income tax is levied with regard to the land or the building or on income derived from them or on the owner of the building and the land to replace those taxes that are currently levied on the immovables or in addition thereto, such taxes, surtaxes, charges, assessments and income taxes shall be deemed to be property taxes under the terms of this agreement and shall be governed, mutatis mutandis, by the terms of this agreement. Property taxes also include all expenses incurred by the LESSOR to contest them or negotiate with the relevant authorities;

Capital Taxes intentionally deleted;