DAC Clause Samples
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DAC. TAX SECTION 1.848-2(g)(8) ELECTION
A. The Reinsurer and the Ceding Company hereby agree to the following pursuant to section 1.848-2(g)(8) of the Income Tax Regulations issued December 1992 under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1993 and for all subsequent taxable years for which this Agreement remains in effect.
B. The terms used in this Article are defined by reference to Regulation Section 1.848-2 in effect December 1992.
C. The party with net positive consideration for this Agreement for each taxable year will capitalize specified policy acquisition expenses with respect to this Agreement without regard to the general deduction limitation of section 848(c)(1).
D. Both parties agree to exchange information pertaining to the amount of net consideration under this Agreement each year to ensure consistency or as otherwise required by the Internal Revenue Service.
E. The Ceding Company will submit to the Reinsurer by May 1st of each year a schedule of the calculation of the net consideration for the preceding calendar year. This schedule of calculations will be accompanied by a statement signed by an officer of the Ceding Company stating that such net consideration will be reported in the tax return for the preceding calendar year.
F. The Reinsurer may contest such calculation by providing an alternative calculation to the Ceding Company in writing within 30 days of receipt of Ceding Company's calculation. If the Reinsurer does not notify the Ceding Company, Reinsurer will report the net consideration as determined by the Ceding Company in the tax return for the preceding calendar year.
G. If the Reinsurer contests the Ceding Company's calculation of the net consideration, both parties will act in good faith to reach an agreement as to the correct amount within thirty (30) days of the date the Reinsurer submits their alternative calculation. If both parties reach agreement on an amount of net consideration, both parties shall report such amount in their respective tax returns for the previous calendar year.
DAC. TAX SECTION 1.848-2(g) (8)
DAC. Ardelyx and Sanofi shall establish a Development Advisory Committee (the “DAC”). The DAC shall remain in effect from the Effective Date until the earlier of [***]. The DAC shall serve as a joint working group for the purpose of approving the Pre-Clinical Development Plan and the Development Plan ([***] having the final decision in case of any persisting disagreement in that respect), and facilitating interactions between the Parties in relation to the performance of the Program. [***]. The DAC shall consist of [***] project leaders, [***], and such additional members as each Party may appoint from time to time as necessary or useful for the performance of the DAC’s responsibilities hereunder. Each Party shall have the right to withdraw or replace its DAC representatives upon written notice to the other Party, provided that any such substitute representative shall have substantially the equivalent position and experience as the representative that such person replaces. The DAC shall hold meetings at such times and places as shall be determined by a consensus of the committee, and, unless determined otherwise by unanimous approval of the DAC, such meetings shall not be held less frequently than once every [***]. Meetings of the DAC may be held in person, via internet, telephonically or by videoconference. Each Party will be responsible for the expenses incurred in connection with its employees, consultants and its members of the DAC attending or otherwise participating in DAC meetings. Each Party’s representatives on the DAC as of the Effective Date are set forth in Exhibit B. For clarity, each Party shall be required to disclose through the DAC or, in the event the DAC is terminated pursuant to Section 3.2, directly to the other Party only such information reasonably necessary to ensure compliance with this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
DAC. A data access committee that oversees access to Data managed by DUOS on behalf of a Data Provider.
DAC. The company and the Reinsurer agree to the DAC Tax Election pursuant to Section 1.848-2(g)(8) of Income Tax Regulation under Section 848 of the Internal Revenue of 1986, as amended, whereby:
12.1.1 The party with the net positive consideration for this Agreement for each taxable year will capitalize specified policy acquisition expenses with respect to this Agreement without regard to the general deductions limitation of Section 848 (c)(1); and
12.1.2 Both parties agree to exchange information pertaining to the amount of net consideration under this Agreement each year to ensure consistency. The term "net consideration" will refer to the net consideration as defined in Regulation Section 1.848-2(f). The method and timing of the exchange of this information is set out in Exhibit G. This DAC Tax Election will be effective for all years for which this Agreement remains in effect. The Company and the Reinsurer represent and warrant that they are subject to U.S. taxation under either the provision of subchapter L of chapter 1 or the provisions of subpart F of subchapter N of Chapter 1 of the Internal Revenue Code of 1986, as amended.
DAC. As one of two general partners of EBD, which is the sole general partner of TAG, DAC has no power to vote or to direct the vote and to dispose or to direct the disposition of any shares of the Stock.
DAC. Section 5.2 LICENSED DOCUMENTATION and add the following softcopy publications: - DirectTalk/2 General Information and Planning Manual - DirectTalk/2 Installation Guide - DirectTalk/2 Application Programmer's Guide - DirectTalk/2 Administrator's Guide - DirectTalk/2 Application Development User's Guide - DirectTalk/2 Problem Solving Guide - CallPath DirectTalk/2 ADSI Programmer's Guide - CallPath DirectTalk/2 National Language Information
DAC. Because of his position as one of two general partners of EBD, the sole general partner of TAG, DAC may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner of 453,176 shares of the Stock, which constitutes approximately 9.9% of the outstanding shares of the Stock. SCHEDULE 13D ------------------------------------- ------------------------- CUSIP NO. ▇▇▇▇▇▇▇▇▇ PAGE 21 OF 27 PAGES -------------------------------------------------------------------------------- TMT-FW Because of its position as one of two general partners of EBD, the sole general partner of TAG, TMT-FW may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner of 453,176 shares of the Stock, which constitutes approximately 9.9% of the outstanding shares of the Stock. TMT Because of his position as the President and sole shareholder of TMT-FW, TMT may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner of 453,176 shares of the Stock, which constitutes approximately 9.9% of the outstanding shares of the Stock. AMM
DAC. On 10th October, 2012 the plaintiff, still then known as ▇▇, wrote to the defendants informing them that the sale of GE to Pepper Netherlands had completed on 28th September, 2012. This followed on from a previous letter of June, 2012 whereby the defendants had been informed that an agreement for sale of GE to Pepper Netherlands had been signed. In the same letter, the defendants were informed that GE was to be renamed Pepper Finance Corporation (Ireland) Ltd., and that they would be informed when the name change had been completed. The letter of 10th October, 2012 also stated that “completion of the sale means that the lender on your mortgage loan, Home Loans [i.e. the plaintiff], is now owned by Pepper”. On 25th October, 2012, the plaintiff wrote on a letterhead bearing the title “Pepper” to the defendants informing them of the name change of the plaintiff from GE Capital Woodchester Home Loans Ltd. to Pepper Finance Corporation (Ireland) Ltd. The effect of all of this correspondence was to inform the defendants that the entity which held their home loan had been sold and had subsequently changed its name. Importantly however, this correspondence does not say or suggest that the defendants’ loan with the plaintiff had been sold.
DAC. CTA may seek assistance from the civil airworthiness authority of a third country in the undertaking of DAC/CTA regulatory surveillance and oversight functions when a production approval has been granted or extended by formal agreement/Arrangement to that third country.