Interest and Penalties a. If, after netting interest payable by the LNC Consolidated Group against interest payable by the IRS for a given Tax Year, the LNC Consolidated Group is required to pay interest to the IRS as a result of any increase in tax liability for a given Tax Year, such interest shall be divided among all of the corporations in the LNC Consolidated Group whose tax liability increased from the initial calculation at the time of the filing of the LNC consolidated tax return for that Tax Year. This allocation shall be made in proportion to the increase in tax liability of the ASFC Group as compared to the increase in tax liability of all other members of the LNC Consolidated Group.
Interest and Penalties. Payments by or to the Parent may include interest and penalties equal to the amounts actually paid to, or received from, the Internal Revenue Service or state tax authority.
Interest and Penalties. If Borrower or any other applicable Loan Party fails to pay any Taxes when due to the appropriate taxing authority or fails to remit to Lender the required receipts or other required documentary evidence, Borrower and the other Loan Parties shall jointly and severally indemnify Lender for any incremental Taxes, interest or penalties and reasonable, out-of-pocket costs and expenses (including attorneys’ and tax advisor fees and expenses) that may become payable by Lender (or any of its Affiliates) as a result of any such failure.
Interest and Penalties. (1) A person who fails to pay or deliver property when due is required to pay to the department interest at the rate as computed under RCW 82.32.050(2) from the date the property should have been paid or delivered until the property is paid or delivered. How- ever, the department must waive or cancel interest imposed under this subsection if:
Interest and Penalties. All interest or penalties incurred as a result of Landlord's failure to pay any costs or taxes as the same shall become due.
Interest and Penalties. If any payment of Rent shall remain unpaid for more than thirty (30) days beyond the due date thereof, Tenant shall pay to Landlord a late charge equal to four percent (4%) of any Rental not paid when due and interest at a rate equal to the Prime Rate (as hereinafter defined) (the “Default Rate”), such interest to accrue from the due date of such payment to the date of actual payment thereof. Such late charge and interest shall constitute Rent hereunder and shall be due and payable by Tenant on demand. No failure by Landlord to insist upon strict performance by Tenant of its obligations to pay late charges shall constitute a waiver by Landlord of its rights to enforce the provisions of this Article 2 in any instance thereafter occurring. This provision shall not be construed in any way to extend the grace period or notice period provided for in this Lease. As used herein “Prime Rate” shall mean the rate reported by The Wall Street Journal (or its successors) as the so-called “prime rate”.
Interest and Penalties. Interest assessed and collected on delinquencies shall be forwarded to the Capital Provider through the Program Administrator within thirty (30) days after delinquent interest payment is received.
Interest and Penalties. If any Loan Party fails to pay any Taxes when due to the appropriate taxing authority or fails to remit to Agent, for the account of Agent and the respective Lenders, the required receipts or other required documentary evidence, Borrower and the other Loan Parties shall jointly and severally indemnify Agent and Lenders for any incremental Taxes, interest or penalties and reasonable, out-of-pocket costs and expenses (including attorneys’ and tax advisor fees and expenses) that may become payable by Agent or any Lender (or any of its Affiliates) as a result of any such failure.
Interest and Penalties. In connection with any amounts due and payable under this Agreement, interest and penalties shall be calculated at the same rates and upon the same principles as are applied by the IRS to the Consolidated Group tax liability or the Consolidated Group refund in question.
Interest and Penalties. PHI will charge the subsidiaries interest for late or underpaid Separate Return Taxes and Other Taxes based upon the requirements set forth in Section 4.5 of this Agreement. Interest shall be determined in accordance with the relevant provisions of the Code or State law and at rates charged by the Internal Revenue Service or other taxing authority as authorized by the Code or other law. PHI will ordinarily not charge penalties unless a penalty would have been assessed by a taxing authority against such subsidiary if such subsidiary were filing on a separate return basis, in which case such penalty will be passed through in full to the subsidiary whose underpayment, return, or actions gave rise to the penalty. Payment of interest or penalties determined to be due by PHI shall be made by the subsidiary on demand by PHI.
