Example ContractsClausesDeduction of Tax
Deduction of Tax
Deduction of Tax contract clause examples
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CHANGES IN PAYROLL DEDUCTION. Payroll deductions shall be made for each Participant in accordance with the Participant's Authorization and shall continue until the Participant's participation terminates, the Authorization is revised, or the Plan terminates. A Participant may, as of the beginning of any Option Period, increase or decrease the Participant's payroll deduction, within the limits specified in Section 7, by filing a new Authorization at least ten (10) days prior to the beginning of that Option Period.

If a Tax Deduction is required by law to be made by an Obligor, the amount of the payment due from that Obligor shall be increased to an amount which (after making any Tax Deduction) leaves an amount equal to the payment which would have been due if no Tax Deduction had been required.

As soon as practicable after making either a U.K. Tax Deduction or any payment required in connection with that U.K. Tax Deduction the Borrower making that U.K. Tax Deduction shall deliver to the Administrative Agent for the U.K. Lender Party entitled to the payment a statement under [section 975] of the U.K. ITA 2007 or other evidence reasonably satisfactory to that U.K. Lender Party that the U.K. Tax Deduction has been made or (as applicable) any appropriate payment paid to H.M. Revenue & Customs.

If a U.K. Tax Deduction is required by law to be made by any U.K. Borrower, the amount of the payment due from that U.K. Borrower shall be increased to an amount which (after making any U.K. Tax Deduction) leaves an amount equal to the payment which would have been due if no U.K. Tax Deduction had been required.

Tax Deduction” has the meaning given to it in Clause ‎12 (Tax gross-up and Indemnities).

Tax Asset” means any Tax Item that could reduce a Tax, including a net operating loss, net capital loss, investment tax credit, foreign tax credit, charitable deduction or credit related to alternative minimum tax.

If the Borrower is compelled by law to make any deduction or withholding on account of tax then the Borrower shall be permitted to make such deduction or withholding and shall ensure that such deduction or withholding does not exceed the minimum legal liability therefor and shall, within sixty (60) days of effecting such deduction or withholding, forward to the Lender an official receipt or other official documentation in each case in form and substance satisfactory to the Lender certifying payment of the tax.

a Tax Credit is attributable to an increased payment of which that Tax Payment forms part, to that Tax Payment or to a Tax Deduction in consequence of which that Tax Payment was required; and

the payment could have been made to the Lender without any Tax Deduction if that Direction had not been made; or

In this Clause 15.3 reference to a "Tax Deduction" has the same meaning given to the term in Clause 14.1 (Definitions).

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