Examples of Deed of Tax Covenant in a sentence
The right of the Purchaser and the relevant LP Property Company (and, in the case of Ernest Limited, the Registered Holder) to be indemnified pursuant to the applicable Deed of Tax Covenant is not prejudiced by any tax action or proceeding in respect of the relevant tax liability which is the subject matter of the claim not being finally resolved before the expiry of the applicable limitation period.
In connection with the Reorganization, it is proposed that the Trustee, on behalf of Champion REIT, and each relevant Holding Company and its subsidiaries will, in line with customary market practice for arm’s-length transactions of this nature, enter into a separate Deed of Tax Covenant with the relevant Vendor Company and the relevant guarantor(s).
Pursuant to the Deed of Tax Covenant, the Vendor will covenant to indemnify the Purchaser in respect of, among other things, any liability for taxation of any Target Group Companies resulting from, inter alia, income or events before Completion.
Under the Deed of Tax Covenant, KLP has agreed to indemnify Hongkong Land its share of any tax liability arising from the non-availability of accumulated tax losses and accumulated capital allowances of ORQPL due to a substantialchange in shareholders arising from the Sale and the Comina Transaction.
CKH has given a tax indemnity to HKL on the like basis as the Deed of Tax Covenant.