Tax Element Sample Clauses

Tax Element. Tax Liability 4.1 Company shall pay to Owner in accordance with the terms of this Schedule and only arising under Indonesian tax regulations, amounts equivalent to the aggregate of 4.1.1 all Specific Event Taxes; 4.1.2 all Tax Element Tax; 4.1.3 such additional amounts as will result in the receipt by Owner of an amount after payment of Specific Event Taxes and Tax Element Tax equal to the full amount which would have been received by Owner hereunder had no such Specific Event Taxes and Tax Element Tax been imposed, SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). (and the aggregate of all sums payable under this section shall be the “Tax Liability”). 4.2 The “Tax Element” shall be, in respect of 4.2.1 the first Hire Contract Year, Owner’s reasonable estimate and detailed calculation of the Tax Liability (excluding Specific Event Taxes) for the period starting with the Contract Date and ending at the end of the first Hire Contract Year divided by the number of days in that period, which estimate Owner shall notify to Company by the ***** day before the Scheduled Delivery Date; and 4.2.2 in respect of the second and each subsequent Hire Contract Year, Owner’s reasonable estimate and detailed calculation of the Tax Liability (excluding Specific Event Taxes) for that Hire Contract Year divided by the number of days in that Hire Contract Year, which estimate Owner shall notify to Company before the ***** day before that Hire Contract Year starts, and each estimate of the Tax Liability under this section 4.2 shall be the “Estimated Tax Liability”. 4.3 Owner may invoice Company, and Company shall pay Owner within ***** Banking Days after receiving an invoice therefor, the amount of any Specific Event Taxes for which Owner becomes liable to pay, and shall seek to agree that Company pays that Specific Event Tax directly to the appropriate Indonesian Governmental Authority. Refunds and Credits 4.4 If Owner recovers any Specific Event Taxes, Tax Element Tax, and Withholding Taxes (as a refund or credit) in respect of which Company has paid the Tax Liability, Owner shall promptly notify Company thereof and refund or credit to Company the sum so recovered. Tax Structuring 4.5 Owner shall, use reasonable endeavours to do what a...