Common use of Personal circumstances Clause in Contracts

Personal circumstances. The tax consequences of the transactions will depend on the client’s circumstances. A distinction will need to be made by the client’s tax practitioner between trading and capital profit and losses. Courtneycap does not take any responsibility in classifying the profits and losses of the transactions. No tax guarantees Courtneycap can give no guarantee of the tax treatment or tax relief and that the current tax treatment will remain the same in the future. The client hereby indemnifies Courtneycap and holds harmless in respect of any income tax or other tax or levy of whatsoever nature in respect of which the client may become liable or which may become payable pursuant to anything done by Courtneycap on the client’s behalf in terms of this mandate and in particular: tax on interest accruing for the client’s benefit on any cash amount deposited by Courtneycap in terms of this agreement; and tax on the increase in value of any investment administered or managed by Courtneycap on for the client’s benefit. Tax refund Furthermore, the client undertakes to refund to Courtneycap on demand any amount which may be called upon to pay by any revenue authority in respect of any such interest of gain accruing to the client and further authorize Courtneycap to pay any such amount out of the investments or realized proceeds of the investments managed by us on the client’s behalf or under our control.

Personal circumstances. The tax consequences of the transactions will depend on the client’s circumstances. A distinction will need to be made by the client’s tax practitioner between trading and capital profit and losses. Courtneycap Xxxxxxxxxxx does not take any responsibility in classifying the profits and losses of the transactions. No tax guarantees Courtneycap can give no guarantee of the tax treatment or tax relief and that the current tax treatment will remain the same in the future. The client hereby indemnifies Courtneycap Xxxxxxxxxxx and holds harmless in respect of any income tax or other tax or levy of whatsoever nature in respect of which the client may become liable or which may become payable pursuant to anything done by Courtneycap Xxxxxxxxxxx on the client’s behalf in terms of this mandate and in particular: tax on interest accruing for the client’s benefit on any cash amount deposited by Courtneycap in terms of this agreement; and tax on the increase in value of any investment administered or managed by Courtneycap Xxxxxxxxxxx on for the client’s benefit. Tax refund Furthermore, the client undertakes to refund to Courtneycap on demand any amount which may be called upon to pay by any revenue authority in respect of any such interest of gain accruing to the client and further authorize Courtneycap Xxxxxxxxxxx to pay any such amount out of the investments or realized proceeds of the investments managed by us on the client’s behalf or under our control.