Example ContractsClausesTax Consolidation
Tax Consolidation
Tax Consolidation contract clause examples

Without limiting the provisions of [subsection (a) or (b)])] above, each Borrower shall, and does hereby, indemnify each Recipient, and shall make payment in respect thereof within 30 days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this [Section 3.01]) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. Each Borrower shall, and does hereby, indemnify the Administrative Agent, and shall make payment in respect thereof within 30 days after demand therefor, for any amount which a Lender or the L/C Issuer for any reason fails to pay indefeasibly to the Administrative Agent as required pursuant to [Section 3.01(c)(ii)] below. A certificate as to the amount of such payment or liability delivered to a Borrower by a Lender or the L/C Issuer (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive absent manifest error.

Tax Withholding. No later than the date as of which an amount first becomes includible in your gross income for federal, state, local or foreign tax purposes with respect to this Award, you shall pay to the Company, or make arrangements satisfactory to the Company regarding the payment of, any federal, state, local or foreign taxes of any kind required by law to be withheld with respect to such amount. Unless otherwise determined by the Company, withholding obligations may be settled with Common Stock, including Common Stock that is part of this Award that gives rise to the withholding requirement, having a Fair Market Value on the date of withholding equal to the amount required to be withheld for tax purposes, all in accordance with any such procedures as the Committee may establish. The obligations of the Company under this Agreement shall be conditional on such payment or arrangements, and the Company and its Affiliates shall, to the extent permitted by law, have the right to deduct any such taxes from any payment otherwise due to you. The Committee may establish such procedures as it deems appropriate, including making irrevocable elections, for the settlement of withholding obligations with Common Stock.

Tax Withholding. Each Participant is responsible for any federal, state, local, foreign or other taxes with respect to any amount payable under this Plan. To the extent the Company is required to withhold any federal, state, local, foreign or other taxes in connection with the delivery of Shares or any other payment or vesting event under this Plan, then the Company may, in its sole discretion, # retain a number of Shares otherwise deliverable hereunder with a value equal to the required withholding (based on the Fair Market Value (as defined in the Stock Incentive Plan) of the Shares on the applicable date), # facilitate a sale of Shares payable pursuant to the Award Opportunity to cover such tax withholding obligation, or # apply any other withholding method determined by the Company; provided that in no event shall the value of the Shares retained or sold exceed the minimum amount of taxes required to be withheld or such other amount that will not result in a negative accounting impact.

Tax Forms. (a) (i) Each [[Lenders:Organization]] with respect to a Loan or Commitment extended to a US Borrower, if such [[Lenders:Organization]] is not a “United States person” within the meaning of Section 7701(a)(30) of the Code (a “Foreign [[Lenders:Organization]]”) shall, to the extent it is legally able to do so, deliver to the Administrative Agent and the Borrowers, prior to receipt of any payment subject to withholding under the Code (or upon accepting an assignment of an interest herein), two duly signed completed copies of either IRS Form W-8BEN or IRS Form W-8BEN-E or any successor thereto (relating to such Foreign [[Lenders:Organization]] and entitling it to an exemption from, or reduction of, withholding tax on payments to be made to such Foreign [[Lenders:Organization]] by the Borrowers pursuant to this Agreement) or IRS Form W-8ECI or any successor thereto (relating to payments to be made to such Foreign [[Lenders:Organization]] by the Borrowers pursuant to this Agreement) or such other applicable evidence satisfactory to the Borrowers and the Administrative Agent that such Foreign [[Lenders:Organization]] is entitled to an exemption from, or reduction of, U.S. withholding tax (including, in the case of a Foreign [[Lenders:Organization]] claiming any exemption pursuant to Section 881(c) of the Code, a certificate to the effect that such Foreign [[Lenders:Organization]] is not a “bank” within the meaning of [Section 881(c)(3)(A)] of the Code, a “10 percent shareholder” of the Borrowers within the meaning of [Section 881(c)(3)(B)] of the Code, or a “controlled foreign corporation” related to any Borrower described in [Section 881(c)(3)(C)] of the Code) (each a “Tax Compliance Certificate”).

Tax Matters. Except as set forth in [Schedule 4.13]: # [[Organization A:Organization]] has timely filed all applicable federal, state and local tax returns, sales tax returns, escheat or unclaimed property returns, informational returns, reports and declarations of estimated tax required to be filed by it (without regard to extensions of time permitted by law, regulation or otherwise) with respect to all taxes applicable to that [[Organization A:Organization]] and its business (the “[[Organization A:Organization]] Tax Returns”); # no claim has been made by any authority in a jurisdiction where [[Organization A:Organization]] does not file [[Organization A:Organization]] Tax Returns that [[Organization A:Organization]] is or may be subject to taxation by that jurisdiction; # [[Organization A:Organization]] has timely paid all taxes owing by it except taxes which have not yet become due and payable and for which adequate provision has been made in the Financial Statements; # all taxes which [[Organization A:Organization]] is required to withhold or collect have been properly withheld or collected and paid over or are being paid over to proper governmental authorities, as required; # no waiver of any statute of limitations has been given or is in effect with respect to any [[Organization A:Organization]] Tax Returns or taxes for which [[Organization A:Organization]] is or may be liable; # [[Organization A:Organization]]’s Tax Returns filed are accurate and complete; and # there are no tax liens on any of the assets or properties of [[Organization A:Organization]]. Neither the Internal Revenue Service nor any other taxing authority has requested to examine or audit any [[Organization A:Organization]] Tax Returns or has asserted, is now asserting or threatening to assert against [[Organization A:Organization]], any deficiency or claim for additional taxes or interest thereon or penalties in connection therewith, and no basis exists for such an assertion.

Tax Matters. Except as set forth on [Schedule 3.17]: # the Company has timely filed all Tax Returns required to have been filed by it; # all such Tax Returns are accurate and complete in all material respects; # the Company has paid all Taxes owed by it which were due and payable (whether or not shown on any Tax Return); # the Company has complied in all material respects with all applicable Laws relating to Tax; # the Company is not currently the beneficiary of any extension of time within which to file any Tax Return; # there is no current Action against the Company in writing by a Governmental Authority in a jurisdiction where the Company does not file Tax Returns that the Company is or may be subject to taxation by that jurisdiction; # there are no pending or ongoing audits of the Company’s Tax Returns by a Governmental Authority of which the Company has received notice thereof; # the Company has not requested or received any ruling from, or signed any binding agreement with, any Governmental Authority, with respect to Taxes that would apply to any Tax periods ending after the Closing Date; # there are no Liens on any of the assets of the Company that arose in connection with any failure (or alleged failure) to pay any Tax; # no unpaid Tax deficiency has been asserted in writing against or with respect to the Company by any Governmental Authority which Tax remains unpaid; # the Company has collected or withheld all Taxes currently required to be collected or withheld by it, and all such Taxes have been paid to the appropriate Governmental Authorities or set aside in appropriate accounts for future payment when due; # the Company has not granted or is subject to, any waiver of the period of limitations for the assessment of Tax for any currently open taxable period; # the Company is not required to include in income any amount for an adjustment pursuant to Section 481 of the Code or the Regulations thereunder with respect to a change in accounting methods made prior to the Closing; # the Company is not a party to any Tax allocation or sharing agreement (other than an agreement (such as a lease) the principal purpose of which is not the sharing or allocation of Tax); # there is no Contract or Benefit Plan covering any Person that, individually or collectively, could give rise to the payment of any amount that would not be deductible by the Company by reason of [Section 280G] or Section 162(m) of the Code, and no arrangement exists pursuant to which the Company or Buyer will be required to “gross up” or otherwise compensate any Person because of the imposition of any Tax on a payment to such Person; # the Company has not been a beneficiary of or participated in any “reportable transaction” within the meaning of Regulations [Section 1.6011-4(b)(1)])] that was, is, or to the Knowledge of the Company will ever be, required to be disclosed under Regulations [Section 1.6011-4]4]; # no Tax Return filed by or on behalf of the Company has contained a disclosure statement under Section 6662 of the Code (or any similar provision of Law), and no Tax Return has been filed by or on behalf of the Company with respect to which the preparer of such Tax Return advised consideration of inclusion of such a disclosure, which disclosure was not made; # the Company has not taken any action outside of the Ordinary Course of Business that would have the effect of deferring a measure of Tax from a period (or portion thereof) ending on or before the Closing Date to a period (or portion thereof) beginning after the Closing Date; # the Company does not have a “permanent establishment” in any foreign country, as defined in any applicable Tax treaty or convention between the United States of America and such foreign country, or has otherwise taken steps or conducted business operations that have materially exposed, or will materially expose, it to the taxing jurisdiction of a foreign country; # the Company is materially in compliance with the terms and conditions of any applicable Tax exemptions, Tax agreements or Tax orders of any Taxing Authority to which it may be subject or which it may have claimed, and the transactions contemplated by this Agreement will not have any material and adverse effect on such compliance; # no written power of attorney which is currently in force has been granted by or with respect to the Company with respect to any matter relating to Taxes; and # no Seller is a “foreign person” for purposes of Section 1445 of the Code.

Tax Status. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, the Company and its Subsidiaries each # has made or filed all United States federal, state and local income and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is subject, # has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations and # has set aside on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or of any Subsidiary know of no basis for any such claim.

Tax Withholding. The Company or any of its affiliates may withhold from any amount payable under this Agreement all federal, state, city, or other taxes as may be required pursuant to any law or governmental regulation or ruling.

Tax Matters. Notwithstanding anything to the contrary in the LP Agreement:

Tax Withholding. Any compensation paid or provided to you under this Letter Agreement shall be subject to any applicable federal, state or local income and employment tax withholding requirements.

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