Additional Tax Representation Sample Clauses
The Additional Tax Representation clause serves to provide assurances from one party to another regarding their tax status or compliance with tax obligations relevant to the agreement. Typically, this clause requires a party to confirm that they have fulfilled all necessary tax filings, payments, or withholdings, or that no additional taxes are due in connection with the transaction. By including this representation, the clause helps to allocate the risk of unexpected tax liabilities and ensures transparency between the parties, thereby reducing the likelihood of future disputes over tax-related issues.
Additional Tax Representation. 6.1 Party A makes the following representation (the Additional Tax Representation), which representation shall be deemed to be repeated at all times until the end of each Transaction:
(a) it is resident in the United Kingdom for United Kingdom tax purposes; or
(b) it is party to each Transaction solely for the purposes of a trade (or part of a trade) carried on by it in the United Kingdom through a permanent establishment and otherwise than as agent or nominee of another person (as those expressions are construed for the purposes of paragraph 31(6)(a) and (b) of Schedule 26 to the Finance ▇▇▇ ▇▇▇▇, as amended or re-enacted from time to time); or
(c) it is resident in a jurisdiction that has a double taxation convention or treaty with the United Kingdom which has effect by virtue of section 788 of the Income and Corporation Taxes Act 1988 and under which provision, whether for relief or otherwise, in relation to interest (as defined in the relevant treaty or convention) is made and it is party to each Transaction otherwise than as agent or nominee for another person (as those expressions are construed for the purposes of paragraphs 31(7) and (8) of Schedule 26 to the Finance ▇▇▇ ▇▇▇▇, as amended or re-enacted from time to time).
6.2 Clause 5.1(d) is amended with respect to Party A only by the insertion of the following after the words “Clause 3(e) or (f)”: “or Part 5(6) of the Schedule”. Back to Contents
Additional Tax Representation. (i) Party A makes the following representation (the ADDITIONAL TAX REPRESENTATION), which representation shall be deemed to be repeated at all times until the end of each transaction:
(A) it is a party to each Transaction solely for the purposes of a trade (or part of a trade) carried on by it in the United Kingdom through a permanent establishment; or
(B) it is resident in the United Kingdom or in a jurisdiction with which the United Kingdom has a double tax treaty which makes provisions, whether for relief or otherwise, in relation to interest.
(ii) Section 5(a)(iv) is amended with respect to Party A by the insertion of the following after the words "Section 3(e) or (f)": "or Part 5(f) of the Schedule".
Additional Tax Representation. No amount in respect of interest payable on any Advance is deductible in computing the Borrower’s taxable income earned in Canada, as defined in subsection 248(1) of the Income Tax Act (Canada), from any source.
Additional Tax Representation. 6.1 Party A makes the following representation (the Additional Tax Representation), which representation shall be deemed to be repeated at all times until the end of each Transaction:
(a) it is resident in the United Kingdom for United Kingdom tax purposes; or
(b) it is party to each Transaction solely for the purposes of a trade (or part of a trade) carried on by it in the United Kingdom through a branch or agency or permanent establishment and otherwise than as agent or nominee of another person (as those expressions are construed for the purposes of Section 697 of the Corporation Tax Act 2009, as amended or re-enacted from time to time); or
(c) it is resident in a jurisdiction that has a double taxation convention or treaty with the United Kingdom which has effect by virtue of section 2 of the Taxation (International and Other Provisions) Act 2010 and under which provision, whether for relief or otherwise, in relation to interest (as defined in the relevant treaty or convention) is made and it is party to each Transaction otherwise than as agent or nominee for another person (as those expressions are construed for the purposes of Section 697 of the Corporation Tax Act 2009, as amended or re-enacted from time to time).
6.2 Section 5(a)(iv) is amended with respect to Party A only by the insertion of the following after the words "Section 3(e) or (f)": "or Part 5(6) of the Schedule".
Additional Tax Representation. The Company (a) has not been a member of an Affiliated Group (as defined in the IRC) filing a consolidated federal income Tax Return (other than a group the common parent of which was the Company) and (b) has no liability for the Taxes of any Person (other than the Company) under Reg. 1.1502-6 (or any similar provision of state, local, or foreign law), as a transferee or successor, by Contract or otherwise except for collection and remission to the applicable Governmental Body of sales and/or use Taxes with respect to its customers.
Additional Tax Representation. Seller has not received written notice of an audit of any taxes payable with respect to the Hotel, which audit has not been resolved or completed, and Seller is not currently contesting or prosecuting any appeal or request for abatement or rollback with respect to any taxes, levies or assessments with respect to the Hotel (including any real property taxes and assessments with respect to the Real Property). All tax returns of Seller required to have been filed for the Hotel have been filed.