Withholding Statement Sample Clauses

A Withholding Statement clause defines the circumstances under which a party may withhold payment or performance, typically due to unresolved issues such as non-compliance, defects, or outstanding obligations. In practice, this clause allows one party to delay payment until the other party has fulfilled certain contractual requirements, such as delivering goods that meet agreed specifications or providing necessary documentation. Its core function is to protect the withholding party from the risk of paying for incomplete or unsatisfactory performance, thereby incentivizing compliance and ensuring contractual obligations are met before funds are released.
Withholding Statement. The term “withholding statement” is defined in section 6.02 of this Agreement.
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Withholding Statement 
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Related to Withholding Statement

  • ▇▇▇ Withholding Notwithstanding any other provision of this Agreement, the Company may withhold from amounts payable under this Agreement all federal, state, local and foreign taxes that are required to be withheld by applicable laws or regulations.

  • Withholding for Taxes All amounts and benefits paid or provided hereunder will be subject to withholding for taxes as required by law.

  • Withholding Payment In addition to the specific consequences explained in the Grant Work Plan and/or Special Terms and Conditions, the State of Florida (State) reserves the right to withhold payment when the Grantee has failed to perform/comply with provisions of this Agreement. None of the financial consequences for nonperformance in this Agreement as more fully described in the Grant Work Plan shall be considered penalties.

  • Withholding Payments The State reserves the right to withhold payment of the Engineer's billing statement in the event of any of the following: (1) If a dispute over the work or costs thereof is not resolved within a thirty day period; (2) pending verification of satisfactory work performed; (3) the Engineer becomes a delinquent obligor as set forth in Section 231.006 of the Family Code; (4) required reports are not received; or (5) the State Comptroller of Public Accounts will not issue a warrant to the Engineer. In the event that payment is withheld, the State shall notify the Engineer and give a remedy that would allow the State to release the payment.

  • Deduction or Withholding for Tax Sections 2(d)(i), 2(d)(i)(4), 2(d)(ii)(1) of the Agreement and the definition of “Tax” are hereby amended by replacing the words “pay”, “paid”, “payment” or “payments” with the words “pay or deliver”, “paid or delivered”, “payment or delivery” or “payments or deliveries”, respectively.