QSF Account definition

QSF Account is defined in Paragraph 4.1.1.
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QSF Account shall have the meaning set forth in Section 4.4.
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Examples of QSF Account in a sentence

  • Each Party shall be solely responsible for the U.S. federal, state, local and foreign tax consequences to such Party of the receipt of funds from the QSF Account pursuant to this Agreement.

  • The Parties and their respective counsel shall make no representation or warranty with respect to the tax treatment by any Party of any payment or transfer derived from or made pursuant to the QSF Account.

  • The Parties agree that the Parties shall treat the QSF Account as a QSF for all reporting purposes under the federal tax laws.

  • The QSF Trustee shall be solely responsible for filing tax returns and any other tax reporting for or in respect of the QSF Account and amounts paid from the QSF Account and any Taxes and Tax-Related Expenses.

  • Defendants only form 1099-MISC reporting obligation shall be to the QSF Account.

  • The QSF Trustee shall provide a detailed accounting of any and all funds in the QSF Account, including any interest accrued thereon and payments made pursuant to this Agreement, upon request of any of the Parties.

  • Defendants shall have no right to participate in any way in the determination or distribution of any individual Eligible Plaintiff’s allocated share from the QSF Account.

  • Such tax returns shall be consistent with this Section 4.4 and in all events shall reflect that all taxes (including any interest or penalties) on the income earned by the QSF Account shall be paid out of the income earned by the QSF Account.

  • All settlement checks shall be drawn on the QSF Account established by the Settlement Administrator and mailed to the address provided for the Class Member or, if applicable, to any updated address provided to and/or obtained by the Settlement Administrator and/or Class Counsel prior to the final approval date.

  • The Parties shall agree that the QSF Account shall be treated as a QSF from the earliest date possible and shall agree to any relation-back election required to treat the QSF Account as a qualified settlement fund from the earliest date possible.