Payroll Agent Sample Clauses
The Payroll Agent clause designates a specific party responsible for managing and disbursing payroll on behalf of the employer or contracting parties. Typically, this agent handles the calculation, withholding, and payment of wages, taxes, and other deductions to employees or contractors, ensuring compliance with applicable laws and regulations. By assigning these duties to a Payroll Agent, the clause streamlines payroll administration and reduces the risk of errors or non-compliance, thereby ensuring timely and accurate payment to all relevant personnel.
Payroll Agent. Each Borrower shall at all times either (a) retain and use a payroll agent for purposes of processing, managing and paying such Borrower’s payroll, including all payroll tax payments required to be made under applicable tax laws and regulations, or (b) be enrolled in the Electronic Federal Payment Tax Service on line at ▇▇▇.▇▇▇▇▇.▇▇▇ and provide such information and authorizations to Lender as may be required for Lender to monitor payment of periodic payroll taxes or (c) utilize a professional employer service organization to lease employees provided that such organization provides to such Borrower adequate insurance against the failure of such organization to make required tax payments with respect to the leased employees. If such Borrower uses a payroll agent, the payroll agent shall be a third party, independent of such Borrower, reasonably acceptable to Lender. Such Borrower shall instruct the payroll agent to provide such reports directly to Lender as Lender may request from time to time reflecting payment of applicable payroll taxes and, in any event, such payroll agent shall deliver to Lender within ten (10) calendar days after the end of each calendar month a report of such Borrower’s payroll taxes for the immediately preceding calendar month and evidence of payment thereof.
Payroll Agent. In the event any payroll taxes owed by Borrowers are not paid on a timely basis by AmBio pursuant to the Client Service Agreements, Borrowers shall either (a) be enrolled in the Electronic Federal Payment Tax Service on line at ▇▇▇.▇▇▇▇▇.▇▇▇ and provide such information and authorizations to Lender as may be required for Lender to monitor payment of periodic payroll taxes or (b) utilize a professional employer service organization to lease employees, provided that such organization provides to Borrowers adequate insurance against the failure of such organization to make required tax payments with respect to the leased employees. If Borrowers use a payroll agent, the payroll agent shall be AmBio pursuant to the Client Service Agreements or another payroll agent reasonably acceptable to Lender. Borrowers shall instruct the payroll agent to provide such reports directly to Lender as Lender may request from time to time reflecting payment of applicable payroll taxes and, in any event, such payroll agent shall deliver to Lender within ten (10) days after the end of each calendar month a report of Borrowers’ payroll taxes for the immediately preceding calendar month and evidence of payment thereof.
Payroll Agent. The Borrower shall at all times either (a) retain and use a payroll agent for purposes of processing, managing and paying Borrower’s payroll, including all payroll tax payments required to be made under applicable tax laws and regulations, or (b) be enrolled in the Electronic Federal Payment Tax Service on line at ▇▇▇.▇▇▇▇▇.▇▇▇ and provide such information and authorizations to Lender as may be required for Lender to monitor payment of periodic payroll taxes or (c) utilize a professional employer service organization to lease employees provided that such organization provides to Borrower adequate insurance against the failure of such organization to make required tax payments with respect to the leased employees. Borrower shall deliver to Lender within ten (10) calendar days after receipt thereof, a report from Borrower’s payroll agent reflecting payment of applicable payroll taxes for the immediately preceding calendar month and evidence of payment thereof.
Payroll Agent. If any payroll taxes owed by Borrowers are not paid on a timely basis, or at any time at the request of Lender, Borrowers shall either (i) retain and use a payroll agent for purposes of processing, managing and paying Borrowers’ payrolls, including all payroll tax payments required to be made under applicable tax laws and regulations, (ii) be enrolled in the Electronic Federal Payment Tax Service on line at ▇▇▇.▇▇▇▇▇.▇▇▇ and provide such information and authorizations to Lender as may be required for Lender to monitor payment of periodic payroll taxes, or (iii) utilize a professional employer service organization to lease employees, provided that such organization provides to Borrowers adequate insurance against the failure of such organization to make required tax payments with respect to the leased employees. If Borrowers use a payroll agent, the payroll agent shall be a third party, independent of Borrowers, and reasonably acceptable to Lender. Borrowers shall instruct the payroll agent to provide such reports directly to Lender as Lender may request from time to time reflecting payment of applicable payroll taxes and, in any event, such payroll agent shall deliver to Lender within ten (10) days after the end of each calendar month a report of Borrowers’ payroll taxes for the immediately preceding calendar month and evidence of payment thereof.
Payroll Agent. The Borrower shall at all times retain and use a payroll agent for purposes of processing, managing and paying Borrower’s payroll, including all payroll tax payments required to be made under applicable tax laws and regulations. The payroll agent shall be a third party, independent of the Borrower, reasonably acceptable to Lender. The Borrower shall instruct the payroll agent to provide such reports directly to Lender as Lender may request from time to time reflecting payment of applicable payroll taxes and, in any event, such payroll agent shall deliver to Lender within ten (10) calendar days after the end of each calendar month a report of Borrower’s payroll taxes for the immediately preceding calendar month and evidence of payment thereof.
Payroll Agent. All payments required to be made under Section 2.10(a)(v) or (a)(vii) shall be made by Parent to the Surviving Corporation’s payroll processing company, Automatic Data Processing, Inc. (the “Payroll Agent”).