NIC Liability definition

NIC Liability means any liability to make primary and/or (to the extent recovery or withholding in respect of such is permissible by applicable law) secondary U.K. national insurance contributions and the phrase “any employer or secondary contributor” shall include any person to whom a U.K. PAYE liability or NIC Liability arises in connection with any cash distribution or with any entitlement to receive and/or distribution of BGC Partners Common Stock.
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NIC Liability has the meaning set forth in Section 12.07.
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NIC Liability has the meaning set forth in Section 12.07.“NLPU” means a Working Partner Unit that can only be awarded to members of UK Services Entities and that is otherwise identical in all respects to the LPU for all purposes under this Agreement, except that: (i) it shall not be eligible to be designated as an Exchange Right Interest; (ii) it cannot be made exchangeable for, or exchanged into, Newmark Common Stock; (iii) it shall not be eligible for the allocation of any items of income, gain, loss or deductions of the Partnership, and Section 5.04 shall not apply to it; and (iv) Section 6.01 shall not apply to it. On terms and conditions determined by the General Partner in its sole discretion or as otherwise set forth in the written documentation applicable to such units, an NLPU may be converted into an LPU, which conversion may be set forth in a written vesting schedule. Upon, and subsequent to, any such conversion of an NLPU, such unit shall be treated for all purposes under this Agreement as an LPU.
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Examples of NIC Liability in a sentence

  • For the purposes of the UK Sub-Plan, the words “tax withholding requirements” shall be generally understood to include any sums due pursuant to any UK Tax Liability and (if applicable) Secondary NIC Liability.

  • The Optionee also agrees to sign a section 431 election (being an election made under section 431 of the Income Tax (Earnings and Pensions) Act 2003) on or before the exercise of this Option and, as a condition to the exercise of this Option, the Optionee shall pay on exercise the amount of any Option Tax Liability and any Secondary NIC Liability.

  • The Optionee expressly acknowledges and agrees that the Optionee’s rights hereunder, including the right to be issued shares upon exercise, are subject to the Optionee promptly paying to the Company in cash (or by such other means as may be acceptable to the Administrator in its discretion) all taxes required to be withheld (including any Option Tax Liability and any Secondary NIC Liability).

  • If the Company determines that it is required to account to HM Revenue & Customs for the Tax Liability and any Secondary NIC Liability or to withhold any other tax as a result of the PRSUs, you, as a condition to the vesting of the PRSUs, shall make arrangements satisfactory to the Company to enable it to satisfy all withholding liabilities.

  • To the extent permitted by law, the Optionee hereby agrees to indemnify and keep indemnified the Company, and the Company as trustee for and on behalf of any related corporation, for any Option Tax Liability and Secondary NIC Liability.

  • Optionee herewith delivers to the Company the full purchase price of the Shares, as set forth in the Option Agreement, together with payment of the Option Tax Liability and the Secondary NIC Liability and any other withholding taxes due in connection with the exercise of the Option.

  • As a further condition of the vesting of the Option, you may, at the Company’s discretion, be directed to join with the Company, or if and to the extent that there is a change in the law, any of its Subsidiaries or person who is or becomes a Secondary Contributor, in making a Joint Election which has been approved by HM Revenue & Customs, for the transfer of the whole Secondary NIC Liability.

  • If the student stops the behavior, the teacher will continue with the learning activity.2. If the student continues to misbehave, the student will receive a consequence (see above for possible consequences).3.

  • If the Company determines that it is required to account to HM Revenue & Customs for the Tax Liability and any Secondary NIC Liability or to withhold any other tax as a result of the RSUs, you, as a condition to the vesting of the RSUs, shall make arrangements satisfactory to the Company to enable it to satisfy all withholding liabilities.

  • If Participant does not enter into a Joint Election (or otherwise indemnify the Company and the Participant’s employer for the Secondary NIC Liability), or if the Joint Election is revoked at any time by HM Revenue & Customs, the Option shall become null and void without any liability to the Company and/or the Participant’s employer, may not be exercised and shall lapse with immediate effect.


More Definitions of NIC Liability

NIC Liability means any liability of the Company or any employer to pay secondary national insurance contributions (or their equivalent outside the United Kingdom) on the exercise of an Option or on an Option becoming exercisable;
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NIC Liability means a liability on the Company to pay employers national insurance contributions by reason of the contributions made by the Company to the FURBS;
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NIC Liability means the total of any primary class 1 (employee) national insurance contributions (or their equivalents in any jurisdiction) for which any Member of the Group is or may be liable to account (or reasonably believes it is or may be liable to pay) for any Unit Holder;
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Related to NIC Liability

  • Public liability means any legal liability arising out of or resulting from a nuclear in- cident or precautionary evacuation (includ- ing all reasonable additional costs incurred by a State, or a political subdivision of a State, in the course of responding to a nu- clear incident or precautionary evacuation), except (1) claims under State or Federal Workmen’s Compensation Acts of employees of persons indemnified who are employed (a) at the location or, if the nuclear incident oc- curs in the course of transportation of the radioactive material, on the transporting ve- hicle, and (b) in connection with the licens- ee’s possession, use or transfer of the radio- active material; (2) claims arising out of an act of war; and (3) claims for loss of, or dam- age to, or loss of use of (a) property which is located at the location and used in connec- tion with the licensee’s possession, use, or transfer of the radioactive material, and (b) if the nuclear incident occurs in the course of transportation of the radioactive mate- rial, the transporting vehicle, containers used in such transportation, and the radio- active material.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Product Liability means any liability, claim or expense, including but not limited to attorneys’ fees and medical expenses, arising in whole or in part out of a breach of any express or implied product warranty by the Company, strict liability in tort, negligent manufacture of product, negligent provision of services, product recall, or any other allegation of liability arising from the design, testing, manufacture, packaging, labeling (including instructions for use), or sale of products.

  • Products Liability means:Your legal liability in respect of Personal Injury and/or Property Damage caused by or arising out of any Products or the reliance upon a representation or warranty made at any time with respect to such products; but only where such Personal Injury and/or Property Damage occurs away from premises owned or leased by or rented to You and after physical possession of such products has been relinquished to others.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • UK Bail-in Liability means a liability in respect of which the UK Bail-in Powers may be exercised.

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • Hovercraft Liability This policy does not cover "hovercraft liability".

  • Net Liability as used herein is defined as the Company's gross liability remaining after cessions, if any, to other pro rata reinsurers.

  • Product Liabilities means all claims, Liabilities and Proceedings related to or arising from actual or alleged harm, injury, damage or death to persons, animals, property or business, irrespective of the legal theory asserted, and resulting from or alleged to result from the use, sale or manufacture of the Products.

  • Product Liability Claim means a Claim of a Third Party (other than a Claim arising out of use of the Product in a clinical trial) that (i) arises as a result of the use of the Product during the Term that results in personal injury or death or (ii) is in anticipation of or intended to prevent or forestall personal injury or death as a result of the use of the Product during the Term.

  • Controlled Group Liability means any and all liabilities (i) under Title IV of ERISA, (ii) under Section 302 of ERISA, (iii) under Sections 412 and 4971 of the Code, (iv) as a result of a failure to comply with the continuation coverage requirements of Section 601 et seq. of ERISA and Section 4980B of the Code, and (v) under corresponding or similar provisions of foreign laws or regulations.

  • General Liabilities shall have the meaning given it in Article III, Section 6(b) of this Declaration of Trust;

  • Catastrophic illness or injury means one of the following:

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • Excluded Liability means any liability that is excluded under the Bail-In Legislation from the scope of any Bail-In Action including, without limitation, any liability excluded pursuant to Article 44 of the Bank Recovery and Resolution Directive.

  • Indemnity Obligations means all obligations of the Company to Indemnitee under this Agreement, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

  • Third Party Liability means both of the following:

  • Catastrophic injury or illness means a life-threatening injury or illness of an employee or a member of an employee's immediate family that totally incapacitates the employee from work, as verified by a licensed physician, and forces the employee to exhaust all leave time earned by that employee, resulting in the loss of compensation from the state for the employee. Conditions that are short-term in nature, including, but not limited to, common illnesses such as influenza and the measles, and common injuries, are not catastrophic. Chronic illnesses or injuries, such as cancer or major surgery, that result in intermittent absences from work and that are long-term in nature and require long recuperation periods may be considered catastrophic.

  • Personal liability means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization:

  • Aircraft Liability This policy does not cover "aircraft liability".

  • AND LIABILITY LIMITS State Street shall assume no responsibility for lost interest with respect to the refundable amount of any unauthorized payment order, unless State Street is notified of the unauthorized payment order within thirty (30) days of notification by State Street of the acceptance of such payment order. In no event shall State Street be liable for special, indirect or consequential damages, even if advised of the possibility of such damages and even for failure to execute a payment order.

  • Liability means the obligation to pay a judgment, settlement, penalty, fine (including an excise tax assessed with respect to an employee benefit plan), or reasonable expenses incurred with respect to a proceeding.

  • Property damage means physical injury to, destruction of, or loss of use of tangible property.