PAPT definition

PAPT means Petroleum Additional Profits Tax as set out in the provisions of the Petroleum (Taxation) Act and calculated in the manner specified in Clause 13 of this Agreement;
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PAPT means the Payment Arrangements for Property Transaction, as described in further detail in the PAPT Document.
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Examples of PAPT in a sentence

  • Except as set forth on Schedule 3.34.8, each Shareholder represents that such shareholder holds good and marketable title to his, her or its PAPI Shares, PAMT Shares or PAPT Shares, as the case may be, free and clear of all liens, agreements, voting trusts, proxies and other arrangements or restrictions of any kind whatsoever.

  • There is no basis for any person, firm, corporation or entity to assert a claim against PAPI or any of its Subsidiaries or any Shareholder based upon: (a) ownership or rights to ownership of any PAPI Shares, PAPT shares or PAMT shares, or (b) any rights as a PAPI, PAMT, or PAPT securities holder, including, without limitation, any option or other right to acquire any PAPI, PAMT, or PAPT securities, any preemptive rights or any rights to notice or to vote.

  • PAPI, PAMT and PAPT shall take all actions that may be necessary to ensure that, from and after the Closing, Acquiror is entitled to exercise any such repurchase option or other right set forth in any such restricted stock purchase agreement or other agreement.

  • Subject to the Sections 12, 13 and 15 of the Petroleum (Taxation) Act, which shall apply equally to the computation of PIT and PAPT under this Agreement, the costs described in this subsection 3.1 shall be allowable deductions in the computation of PIT and PAPT, subject to audits.

  • Exhibit A sets forth the number of PAPT Ordinary Shares that are held by each Shareholder as of the date of this Agreement and immediately prior to the Closing.

  • The authorized capital stock of PAPT consists solely of 100,000,000 Ordinary Shares, all of which are issued and outstanding as of the date of this Agreement and will be issued and outstanding as of the Closing Date, all of which are held of record and owned by PAPI except for an aggregate of 47,222,220 Ordinary Shares which are held by the Shareholders and an aggregate of seven Ordinary Shares which are held by other shareholders, each as set forth in Exhibit A.

  • Subject to the Sections 12, 13 and 15 of the Tax Act, which shall apply equally to the computation of PAPT under this Agreement, the costs described in this subsection 3.1 shall be allowable deductions in the computation of Petroleum Additional Profits Tax.

  • In cases where the Company consists of more than one company, the liability to pay PAPT shall be joint and several in accordance with the Petroleum (Taxation) Act, and at each relevant date only one ROR and NCR shall be computed for the Petroleum Field, combining all of the interests held by the relevant companies in the relevant Field.

  • Any stamp duty, transfer tax or similar tax payable in connection with the transfer of PAPI Shares, PAMT Shares or PAPT Shares by any Shareholder shall be payable by such Shareholder.

  • Notwithstanding any provision to the contrary in this Accounting Procedure, it is the intention that there shall be no duplication of charges or credits to the accounts under the Agreement, and no duplication of deductions or income for Petroleum Income Tax and PAPT.

Related to PAPT

  • AASHTO means the American Association of State Highway and Transportation Officials.

  • Tabarru ” means donation for the purpose of solidarity and cooperation among the Takaful Participants and to be used to help all Takaful Participants in times of misfortune. In the context of the Company, Tabarru’ will be allocated into the Participants’ Risk Fund.

  • SADC means the Southern African Development Community;

  • fisher means every person employed or engaged in any capacity or carrying out an occupation on board any fishing vessel, including persons working on board who are paid on the basis of a share of the catch but excluding pilots, naval personnel, other persons in the permanent service of a government, shore-based persons carrying out work aboard a fishing vessel and fisheries observers;

  • Embalmer means any person engaged in the practice of embalming.