Common use of PPP Co Clause in Contracts

PPP Co. will keep the Authority fully informed of all negotiations with the relevant Taxation Authority in relation to any Relevant Tax Liability in respect of a Compensation Payment. PPP Co. will not agree, accept or compromise any claim, issue or dispute relating to such Relevant Tax Liability without the prior consent of the Authority (such consent not to be unreasonably withheld, conditioned or delayed). The Authority may, if it considers in good faith that such action is justified having regard to the likely costs and benefits, direct PPP Co. to resist, appeal, defend or otherwise dispute the Relevant Tax Liability in respect of the Compensation Payment, provided that the cost of any such dispute (including any interest or penalties incurred) will be at the Authority’s expense. Where any resistance, appeal, defence or other mode of dispute results in a more beneficial position in relation to the Relevant Tax Liability, an adjustment will be made to the amount payable under Clause 27.4(a) above to reflect such outcome.

PPP Co. will keep the Authority fully informed of all negotiations with the relevant Taxation Authority Revenue Commissioners in relation to any Relevant Tax Liability in respect of a Compensation Payment. PPP Co. will not agree, accept or compromise any claim, issue or dispute relating to such Relevant Tax Liability without the prior consent of the Authority (such consent not to be unreasonably withheld, conditioned or delayed). The Authority may, if it considers in good faith that such action is justified having regard to the likely costs and benefits, direct PPP Co. to resist, appeal, defend or otherwise dispute the Relevant Tax Liability in respect of the Compensation Payment, provided that the cost of any such dispute (including any interest or penalties incurred) will be at the Authority’s expense. Where any resistance, appeal, defence or other mode of dispute results in a more beneficial position in relation to the Relevant Tax Liability, an adjustment will be made to the amount payable under Clause 27.4(a26.4(a) above (Tax Equalisation of Compensation Payments) to reflect such outcome.