Common use of Withholding and Remittances Clause in Contracts

Withholding and Remittances. Each Loan Party has withheld and remitted all required amounts within the prescribed periods to the appropriate Governmental Authorities and in particular has deducted, remitted and paid all Canada Pension Plan contributions, provincial pension plan contributions, workers’ compensation assessments, employment insurance premiums, employer health taxes, municipal real estate taxes, excise taxes and has charged and remitted all sales, use, goods and services, harmonized sales or similar taxes and other taxes payable under applicable law by them, and, furthermore, have withheld from each payment made to any of its present or former employees, officers and directors, and to all persons who are non-residents of Canada for the purposes of the Income Tax Act (Canada) all amounts required by law to be withheld, including without limitation all payroll deductions required to be withheld and has remitted such amounts to the proper Governmental Authority within the time required under applicable law.