Tax Equalisation of Compensation Payments Sample Clauses

Tax Equalisation of Compensation Payments. Where a Compensation Payment is to be made to PPP Co. and PPP Co. has a Relevant Tax Liability (other than Compensation on Termination for PPP Co. Default) in respect of such Compensation Payment, the Authority will increase it so as to ensure that PPP Co. is in the same position (after account is taken of the Relevant Tax Liability) as it would have been in had it not been for such Relevant Tax Liability. The amount of the Relevant Tax Liability will be computed without double counting (and in a case where withholding tax and related underlying tax arise on the same payment, one only of the two will be accounted for) in the calculation of the increase in any Compensation Payment. In determining whether PPP Co. has a Relevant Tax Liability and/or the amount of any Relevant Tax Liability relating to a Compensation Payment, it will be assumed that any Tax Reliefs derived from the Project which are available to PPP Co. (or would have been so available but for a surrender by PPP Co. of such Tax Reliefs by way of Group or consortium relief) for offset or credit against the Compensation Payment, or against Tax in relation to the same, have been so offset or credited to the maximum extent permitted by Law. PPP Co. will keep the Authority fully informed of all negotiations with the 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 26.4(a) (Tax Equalisation of Compensation Payments) to reflect such outcome. Any increase in the amount of a Compensation Payment which is payable under Clause 26.4(a) (Tax Equalisation of Compensation Payments) will be paid on the later of five (5) Business Days after a demand therefor...
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Tax Equalisation of Compensation Payments. (a) Where a Compensation Payment is to be made to PPP Co. and PPP Co. has a Relevant Tax Liability (other than Compensation on Termination for PPP Co. Default) in respect of such Compensation Payment, the Authority will increase it so as to ensure that PPP Co. is in the same position (after account is taken of the Relevant Tax Liability) as it would have been in had it not been for such Relevant Tax Liability. The amount of the Relevant Tax Liability will be computed without double counting (and in a case where withholding tax and related underlying tax arise on the same payment, one only of the two will be accounted for) in the calculation of the increase in any Compensation Payment.
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Tax Equalisation of Compensation Payments. 28 To be reviewed on a project specific basis.
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Related to Tax Equalisation of Compensation Payments

  • Calculation of Vacation Pay Vacation pay shall be at the rate effective immediately prior to the vacation period. However, should any salary increase become effective during the employee's vacation period, he/she shall receive the benefit of such increase from the effective date.

  • Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.

  • DEDUCTIONS FROM SALARY A. The Board agrees to deduct from teachers’ salaries membership dues and assessments for the Xxxxxx County Education Association, the Maryland State Teachers’ Association, and the National Education Association as said teachers individually and voluntarily authorize to deduct through an appropriate written authorization form prepared by the Association. The Board agrees to transmit such monies promptly to the Association.

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • DEDUCTION FROM SALARY A. The Board agrees to deduct from the salaries of its employees dues for the Flemington-Raritan Education Association, Hunterdon County Education Association, the New Jersey Education Association, and the National Education Association, as said teachers individually and voluntarily authorize the Board to deduct. Said deductions shall be made in compliance with N.J.S.A. 52-14-15.9(e) and under rules established by the State Department of Education. Said moneys, together with records of any corrections, shall be transmitted to the Treasurer of the Flemington-Raritan Education Association by the 15th of each month following the monthly pay period in which deductions were made. Upon termination of employment of any teacher, the disbursing officer shall deduct any remaining amount due for that current school year. The Association Treasurer shall disburse such moneys to the appropriate association or associations. Teacher authorizations shall be in writing in the form set forth: AUTHORIZATION TO DEDUCT ASSOCIATION MEMBERSHIP DUES Name Soc. Sec. # School Bldg. District To: Disbursing Officer Board of Education I hereby request and authorize the above-named disbursing officer to deduct from my earnings an amount sufficient to provide for the payment of those yearly membership dues, as certified by the organizations indicated, in equal monthly payments for all or part of the current school year and for the succeeding school year. I understand that the disbursing officer will discontinue such deductions only if I file such notice of withdrawal which shall be effective to halt deductions as of the January 1st or July 1st date. I also agree that upon termination of employment, the disbursing officer shall deduct any remaining amount due for that current school year. I hereby waive all right and claim for said moneys so deducted and transmitted in accordance with this authorization, and relieve the governing Board and all its officers from any liability thereof. I designate the Flemington-Raritan Education Association to receive dues and distribute according to the organizations named: Flemington-Raritan Education Association $ Hunterdon County Education Association $ New Jersey Education Association $ National Education Association $

  • Computation of Vacation Pay Where an employee's vacation pay for the current year is to be computed as a percentage of his "total wages earned" in the previous year, such "total wages earned" shall include the amount of vacation pay the employee received in the previous year.

  • Show-Up Compensation An employee who is scheduled for work and reports for work, except for situations addressed in Article 123--Inclement or Hazardous Conditions, and is released from work shall be paid the equivalent of two

  • Lump Sum Compensation Lump sum computation refers to the method of payment under this Agreement for the professional services of the Consultant.

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account.

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