LGPT definition
Examples of LGPT in a sentence
In the event of such a debt becoming due, the Seller will pay to the Purchaser (as agent and trustee for the Relevant Companies and by way of adjustment to the consideration for the sale of the Group) the aggregate "net amount" of any such debts that the Relevant Companies pay to the trustees of LGPT less any interest charged or adjustment made to take account of late payment after the date on which the debt was due to be paid.
Provided that if the payment by the Relevant Company to LGPT is disallowed by the Inland Revenue for corporation tax purposes, notwithstanding that the Relevant Company has used all reasonable endeavours to obtain a tax deduction, the Seller shall pay the gross and not the net amount of the debts.
The Seller shall procure that the other company is admitted to participation in LGPT on the terms set out above.
The Seller will provide information and otherwise cooperate with such insurance companies and will procure that the trustees of LGPT do so, with a view to ensuring that the amounts to be transferred in respect of the Money Purchase Benefits are transferred without undue delay.