Treaty Benefits Sample Clauses

Treaty Benefits. The Company shall use its reasonable efforts to benefit from the provisions of any tax treaty between Singapore, on the one hand, and Luxembourg or Mauritius, on the other hand. Each Party shall cooperate with the other Parties and the Company to determine if the Company is, from time to time, entitled to the benefits of any tax treaty between Singapore, on the one hand, and Luxembourg or Mauritius, on the other hand.
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Treaty Benefits. The Administrative Agent hereby agrees that in the event that as of [October 31] of each year, the aggregate number of Xxxxxxx & Xxxxx Air Limited’s (“B&B Air”) common shares (including ADSs) traded (the “Trading Activity”) during that year on one or more recognized stock exchanges (within the meaning of Article 23 (the “LOB Article”) of the income tax treaty between the United States and Ireland (the “Treaty”)) is reasonably expected to be less than [7]% of the average number of common shares outstanding during that year, the Administrative Agent shall, to the extent feasible and to the extent such action does not cause a breach under the Indenture or any Related Document, take all commercially reasonable efforts on behalf of the Issuer (in its capacity as Administrative Agent) necessary to cause the Issuer and its subsidiaries to be entitled to the benefit of the Treaty with respect to rental income from U.S. sources; provided that if B&B Air or the Issuer or other applicable subsidiary of B&B Air has received a determination by the U.S. competent authority (within the meaning of the LOB Article) to the effect that the Issuer and its subsidiaries are entitled to the benefit of the Treaty with respect to rental income from U.S. sources ( a “Determination”), the Administrative Agent shall not be required to take any such efforts. The Administrative Agent shall monitor, or cause to be monitored, the Trading Activity as of the end of each calendar quarter and reflect the results of such monitoring in the quarterly reports of the Issuer prepared under Section 2.14 of the Indenture. It is expected such efforts shall include, without limitation, the following: (i) BBAM transfers or seconds to B&B Air a sufficient number of employees to perform the following functions with respect to aircraft of the Issuer or its subsidiaries that are on lease for use within the United States as well as, potentially, other aircraft of the Issuer and its subsidiaries: (A) sales, marketing and lease management; (B) technical, maintenance and inspection services; and (C) financial and valuation services; and (ii) BBAM makes available administrative personnel for recordkeeping and other ministerial functions, to B&B Air, in each case, for arm’s length consideration and otherwise on arm’s length terms. Following the implementation of the efforts outlined above, the Administrative Agent shall deliver to the Issuer, the Rating Agencies and the Policy Provider, an opinion of recognized ...
Sample 1

Related to Treaty Benefits

  • Retirement Benefits Upon the occurrence of the Qualifying --------- ------------------- Date (except as otherwise specifically provided herein), the Bank will pay to the Director $671 per month for a continuous period of 120 months. Such continuous monthly installment payments shall commence on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Qualifying Date shall occur. In the event that the Director should die after becoming entitled to receive such installment payments but before all such payments have been made, the Bank will pay all remaining installment payments to such beneficiary or beneficiaries as the Director has designated in writing to the Bank (the "Beneficiaries"). In the event of the death of the last living Beneficiary before all remaining installment payments have been made, the balance of any payments which remain unpaid at such Beneficiary's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, or if no Beneficiary survives the Director, any payments remaining unpaid at the Director's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the Director's estate.

  • Death Benefits Upon the Executive's death during the Contract Period, his estate shall not be entitled to any further benefits under this Agreement.

  • Unemployment Benefits The Company will not oppose the Executive’s claim for unemployment insurance benefits.

  • Employment Benefits In addition to the Salary payable to the Executive hereunder, the Executive shall be entitled to the following benefits:

  • Post-Employment Benefits A. If Employee's employment is terminated by ARAMARK for any reason other than Cause, Employee shall be entitled to the following post-employment benefits:

  • Benefit Payments Benefit Payments, as referred to in this Agreement, means the sum of (i) Claims, as described in Xxxxxxxxx 0 xxxxx, (xx) Cash Surrender Values, as described in Paragraph 3 below, and (iii) Annuity Payments, as described in Paragraph 7 below.

  • Disability Benefits Following a Change in Control and during the term of this Agreement, during any period that the Executive fails to perform the Executive’s full-time duties with the Company as a result of Disability, the Executive will receive short-term and long-term disability benefits as provided under short-term and long-term disability plans having terms no less favorable than the terms of the Company’s short-term and long-term disability plans as in effect immediately prior to the Change in Control, together with all other compensation and benefits payable to the Executive pursuant to the terms of any compensation or benefit plan, program, or arrangement maintained by the Company during the period of Disability.

  • Separation Benefits If this Agreement is terminated either by the Company without Cause in accordance with Section 6(c) (including the Company’s non-renewal of this Agreement) or by Employee resigning his employment for Good Reason in accordance with Section 6(d), the Company shall have no further obligation to Employee under this Agreement, except the Company shall provide the Accrued Obligations to Employee in accordance with Section 7(a) plus the following payments and benefits (collectively, the “Separation Benefits”) to Employee: (i) an amount equal to one times the sum of the Base Salary in effect immediately before the Termination Date plus the Annual Bonus received by Employee for the fiscal year preceding the Termination Date (or if Employee was employed for less than one full fiscal year prior to the Termination Date, the Annual Bonus for purposes of this Section 7 shall be the Annual Bonus payable during the current fiscal year at the target amount provided above) (together, the “Separation Pay”); and (ii) during the six-month period commencing on the Termination Date that Employee is eligible to elect and elects to continue coverage for himself and his eligible dependents under the Company’s group heath insurance plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), or similar state law, the Company shall reimburse Employee on a monthly basis for the difference between the amount Employee pays to effect and continue such coverage under COBRA and the employee contribution amount that active employees of the Company pay for the same or similar coverage; provided, however, that Employee shall notify the Company in writing within five days after he becomes eligible after the Termination Date for group health insurance coverage, if any, through subsequent employment or otherwise and the Company shall have no further reimbursement obligation after Employee becomes eligible for group health insurance coverage due to subsequent employment or otherwise. The Separation Pay shall be paid to Employee in a lump sum within 60 days of the Termination Date; provided, however, that no Separation Pay shall be paid to Employee unless the Company receives, on or within 55 days after the Termination Date, an executed and fully effective copy of the Release (as defined below). Any COBRA reimbursements due under this Section shall be made by the last day of the month following the month in which the applicable premiums were paid by Employee. For the avoidance of doubt, Employee shall not be entitled to the Separation Benefits if this Agreement is terminated (i) due to Employee’s death; (ii) by the Company due to Employee’s Inability to Perform; (iii) by the Company for Cause; (iv) by Employee without Good Reason; or (v) by non-renewal by Employee in accordance with Sections 4(b) and 6(f).

  • SUPPLEMENTAL BENEFITS The Reinsurer will receive a proportionate share of any premiums for additional benefits as shown in Schedule I, as well as for any extra premiums the Ceding Company may collect for the coverage of special risks (traveling, climate, occupation, etc.). This share will be based on the ratio between the amount at risk and the total initial benefits insured and will remain constant throughout the entire period of premium payment.

  • Other Employment Benefits During the Employment Term, the Executive shall be entitled to the following employment benefits:

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