Withholding/deduction Sample Clauses
A withholding/deduction clause allows one party to withhold or deduct certain amounts from payments due to the other party, typically to comply with tax laws or to cover specific obligations. In practice, this means that if a payment is subject to taxes, levies, or other required deductions, the paying party can reduce the payment accordingly and remit the withheld amount to the appropriate authority. This clause ensures that both parties remain compliant with legal requirements and prevents the paying party from being penalized for failing to withhold necessary amounts.
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Withholding/deduction. The Issuing and Paying Agent shall make all payments of principal or interest in respect of the Notes or the Coupons after withholding or deduction for tax imposed or levied by or on behalf of Singapore or any authority thereof or therein and which are required by law to be withheld or deducted. Payment of the amounts withheld or deducted shall be made by the Issuing and Paying Agent to the relevant authority within such period as may be prescribed by law or such authority after payment of principal or interest to the holder of the Note or Coupon related thereto (as the case may be). Where the Issuer is not permitted under applicable law to make payments of principal or interest in respect of any Notes or Coupons without any such withholding or deduction for Singapore tax, no payment without deduction or withholding for Singapore tax shall be made unless the Issuing and Paying Agent shall have received a statutory declaration or other evidence satisfactory to the Issuing and Paying Agent confirming that the beneficial owner of such principal or interest is (1) a resident in Singapore for tax purposes or (2) a non-resident of Singapore who did not purchase the Notes using funds from its Singapore operations. If requested by the Issuer, the Issuing and Paying Agent will at the expense of the Issuer furnish the holder of the Note or Coupon with a statement specifying the gross amount of principal or interest, the amount of tax deducted and the net amount of principal or interest paid or receivable. The Issuing and Paying Agent shall be liable to the Issuer for any tax not withheld in proper reliance in good faith upon any statutory declaration or other evidence.
Withholding/deduction. You acknowledge that we are entitled without notice to you to withhold or deduct amounts from any payments, dividends, interest or any other sums whatsoever due to you if we in our sole discretion determine that we are or may be required to do so under the laws, rules or regulations of any jurisdiction.
Withholding/deduction. All amounts payable by the Purchaser to the Sellers or the Sellers to the Purchaser (as the case may be) under this Agreement shall be made without withholding or deduction for or on account of any Taxes, duties or levies or for any reason whatsoever. Insofar as such withholding or deduction is made by the Purchaser or the Sellers (as the case may be) in respect of its payment obligations under this Agreement, the Purchaser or the Sellers (as the case may be) shall make such additional payments as are necessary for the Sellers or the Purchaser (as the case may be) to receive the relevant amounts as if such withholding or deduction had not been paid.
Withholding/deduction. Reduction, Penalties and Recovery of Funds