Common use of Refunds and Tax Benefits Clause in Contracts

Refunds and Tax Benefits. Any Tax refunds that are received after the Closing Date by the Sellers (other than tax refunds received in connection with such Sellers individual tax Returns), the Purchaser or the Company, and any amounts credited against Tax to which the Sellers, the Purchaser or the Company become entitled, shall be for the account of the Company, and the Sellers shall pay over to the Company any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against Tax by a taxing authority to the Sellers, the Sellers shall pay such amount to the Company within fifteen (15) days after receipt or entitlement thereto.

Appears in 5 contracts

Samples: Stock Purchase Agreement (WPCS International Inc), Membership Interest Purchase Agreement (WPCS International Inc), Stock Purchase Agreement (WPCS International Inc)

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Refunds and Tax Benefits. Any Tax refunds that are received after the Closing Date by the Sellers (other than tax refunds received in connection with such Sellers Sellers' individual tax Returns), the Purchaser or the Company, and any amounts credited against Tax to which the Sellers, the Purchaser or the Company become entitled, shall be for the account of the Company, and the Sellers shall pay over to the Company any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against Tax by a taxing authority to the Sellers, the Sellers shall pay such amount to the Company within fifteen (15) days after receipt or entitlement thereto.

Appears in 2 contracts

Samples: Stock Purchase Agreement (National Investment Managers Inc.), Stock Purchase Agreement (National Investment Managers Inc.)

Refunds and Tax Benefits. Any Tax refunds that are received after the Closing Date by the Sellers (other than tax Tax refunds received in connection with such Sellers Sellers’ individual tax Tax Returns), the Purchaser or the Company, and any amounts credited against Tax to which the Sellers, the Purchaser or the Company become entitled, shall be for the account of the Company, and the Sellers shall pay over to the Company any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against Tax by a taxing authority to the Sellers, the Sellers shall pay such amount to the Company within fifteen (15) days after receipt or entitlement thereto.

Appears in 1 contract

Samples: Stock Purchase Agreement (WPCS International Inc)

Refunds and Tax Benefits. Any Tax refunds that are received after the Closing Date by the Sellers Seller (other than tax refunds received in connection with such Sellers the Seller’s individual tax Returns), the Purchaser or the Company, and any amounts credited against Tax to which the SellersSeller, the Purchaser or the Company become entitled, shall be for the account of the Company, and the Sellers Seller shall pay over to the Company any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against Tax by a taxing authority to the SellersSeller, the Sellers Seller shall pay such amount to the Company within fifteen (15) days after receipt or entitlement thereto.

Appears in 1 contract

Samples: Stock Purchase Agreement (Zulu Energy Corp.)

Refunds and Tax Benefits. Any Tax refunds that are received after the Closing Date by the Sellers Seller (other than tax refunds received in connection with such Sellers individual tax Returns), the Purchaser or the Company, and any amounts credited against Tax to which the Sellers, the Purchaser or the Company become entitled, shall be for the account of the Company, and the Sellers Seller shall pay over to the Company any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against Tax by a taxing authority to the SellersSeller, the Sellers Seller shall pay such amount to the Company within fifteen (15) days after receipt or entitlement thereto.

Appears in 1 contract

Samples: Stock Purchase Agreement (CTT International Distributors Inc.)

Refunds and Tax Benefits. Any Tax refunds that are received after the Closing Date by the Sellers Seller (other than tax refunds received in connection with such Sellers Seller’s individual tax Returns), the Purchaser or the Company, and any amounts credited against Tax to which the SellersSeller, the Purchaser or the Company become entitled, shall be for the account of the Company, and the Sellers Seller shall pay over to the Company any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against Tax by a taxing authority to the SellersSeller, the Sellers Seller shall pay such amount to the Company within fifteen (15) days after receipt or entitlement thereto.

Appears in 1 contract

Samples: Stock Purchase Agreement (Titan Global Holdings, Inc.)

Refunds and Tax Benefits. Any Tax refunds that are received after the Closing Date by the Sellers (other than tax refunds received in connection with such Sellers Sellers’ individual tax Returns), the Purchaser or the Company, and any amounts credited against Tax to which the Sellers, the Purchaser or the Company become entitled, shall be for the account of the Company, and the Sellers shall pay over to the Company any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against Tax by a taxing authority to the Sellers, the Sellers shall pay such amount to the Company within fifteen (15) days after receipt or entitlement thereto.

Appears in 1 contract

Samples: Stock Purchase Agreement (National Investment Managers Inc.)

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Refunds and Tax Benefits. Any Tax refunds related to the Company that are received after the Closing Date by the Sellers Seller (other than tax refunds received in connection with such Sellers the Seller’s individual tax Returns), the Purchaser or the Company, and any amounts credited against Tax to which the SellersSeller, the Purchaser or the Company become entitled, shall be for the account of the Company, and the Sellers Seller shall pay over to the Company any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against Tax by a taxing authority to the SellersSeller, the Sellers Seller shall pay such amount to the Company within fifteen (15) days after receipt or entitlement thereto.

Appears in 1 contract

Samples: Stock Exchange Agreement and Plan of Reorganization (Zulu Energy Corp.)

Refunds and Tax Benefits. Any Tax refunds that are received after the Closing Date by the Sellers Seller (other than tax refunds received in connection with such Sellers Seller individual tax Returns), the Purchaser or the Company, and any amounts credited against Tax to which the SellersSeller, the Purchaser or the Company become entitled, shall be for the account of the Company, and the Sellers Seller shall pay over to the Company any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against Tax by a taxing authority to the SellersSeller, the Sellers Seller shall pay such amount to the Company within fifteen (15) days after receipt or entitlement thereto.

Appears in 1 contract

Samples: Stock Purchase Agreement (Thomas Equipment, Inc.)

Refunds and Tax Benefits. Any Tax refunds that are received after the Closing Date by the Sellers Seller (other than tax refunds received in connection with such Sellers Seller individual tax ReturnsReturn), the Purchaser or the Company, and any amounts credited against Tax to which the SellersSeller, the Purchaser or the Company become entitled, shall be for the account of the Company, and the Sellers Seller shall pay over to the Company Purchaser any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against Tax by a taxing authority to the SellersSeller, the Sellers Seller shall pay such amount to the Company Purchaser within fifteen (15) days after receipt or entitlement thereto.

Appears in 1 contract

Samples: Stock Purchase Agreement (Vertical Health Solutions Inc)

Refunds and Tax Benefits. Any Tax refunds that are received after the Closing Date by the Sellers (other than tax refunds received in connection with such Sellers individual tax Returns), the Purchaser or the Company, and any amounts credited against Tax to which the Sellers, the Purchaser or the Company become entitled, shall be for the account of the Company, and the Sellers shall pay over to the Company any such refund or the amount of any such credit within fifteen (15) days after receipt or entitlement thereto. In addition, to the extent that a claim for refund or a proceeding results in a payment or credit against Tax by a taxing authority to the Sellers, the Sellers shall pay such amount to the Company within fifteen (15) days after receipt or entitlement thereto.. SPA Executed.doc

Appears in 1 contract

Samples: Stock Purchase Agreement (Dynamic Health Products Inc)

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