Common use of Compliance with Tax Requirements Clause in Contracts

Compliance with Tax Requirements. In connection with this Plan, to the extent applicable, the Reorganized Debtors shall comply with all tax withholding and reporting requirements imposed on them by any governmental unit, and all distributions pursuant to this Plan that may be necessary or appropriate to comply with such withholding and reporting requirements. Notwithstanding any other provision of this Plan, each Person that has received any distribution pursuant to this Plan shall have sole and exclusive responsibility for the satisfaction and payment of any tax obligation imposed by any governmental unit, including income, withholding and other tax obligations, on account of such distribution.

Appears in 2 contracts

Samples: Plan Support Agreement, Plan Support Agreement (AbitibiBowater Inc.)

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Compliance with Tax Requirements. 1. In connection with this Plan, to the extent applicable, the Reorganized Debtors shall will comply with all tax withholding and reporting requirements imposed on them by any governmental unit, and all distributions pursuant to this Plan that may be necessary or appropriate to comply with such withholding and reporting requirements. Notwithstanding any other provision of this Plan, each Person that has received any distribution pursuant to this Plan shall have sole and exclusive responsibility for the satisfaction and payment of any tax obligation imposed by any governmental unit, including income, withholding and other tax obligations, on account of such distribution.

Appears in 2 contracts

Samples: Warrant Agreement (Mobilemedia Communications Inc), Voting Agreement (Mobilemedia Corp)

Compliance with Tax Requirements. In connection with this Plan, (m) to the extent applicable, the Reorganized Debtors shall comply with all tax withholding and reporting requirements imposed on them by any governmental unit, and all distributions pursuant to this Plan that may be necessary or appropriate to comply with such withholding and reporting requirements. Notwithstanding any other provision of this Plan, each Person that has received any distribution pursuant to this Plan shall have sole and exclusive responsibility for the satisfaction and payment of any tax obligation imposed by any governmental unit, including income, withholding and other tax obligations, on account of such distribution.

Appears in 1 contract

Samples: Plan Support Agreement

Compliance with Tax Requirements. In connection with the consummation of this Plan, to the extent applicablePlan of Reorganization, the Reorganized Debtors shall comply with all tax withholding and reporting requirements imposed on them by any governmental unittaxing authority, and all distributions pursuant hereunder shall be subject to this Plan that may be necessary or appropriate to comply with such withholding and reporting requirements. Notwithstanding any other provision of this Plan, each Person that has received any distribution pursuant to this Plan shall have sole and exclusive responsibility for the satisfaction and payment of any tax obligation imposed by any governmental unit, including income, withholding and other tax obligations, on account of such distribution.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Toy Biz Inc)

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Compliance with Tax Requirements. In connection with this Planthe Plan and the distributions made in accordance thereto, to the extent applicable, the Debtor and the Reorganized Debtors Debtor shall comply with all tax withholding and reporting requirements requirements, if any, imposed on them by any governmental unit, Governmental Unit and all distributions pursuant to this the Plan shall be subject to such withholding and reporting requirements. The Reorganized Debtor shall be authorized to take any and all actions that may be necessary or appropriate to comply with such withholding and reporting requirements. Notwithstanding any other provision of this Plan, each Person that has received any distribution pursuant to this Plan shall have sole and exclusive responsibility for the satisfaction and payment of any tax obligation imposed by any governmental unit, including income, withholding and other tax obligations, on account of such distribution.

Appears in 1 contract

Samples: Loan Agreement (Ener1 Inc)

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