PN7 definition
Examples of PN7 in a sentence
Other than PN(7) being used for unpaid days during the winter and spring breaks, personal necessity leave shall be defined as “leave to be taken for circumstances or a matter that cannot be performed/conducted outside of work hours.” Employees shall inform their supervisors as soon as possible of the need to take personal necessity leave.
The Chinese Withholding Tax Amount shall be deposited at Closing by W▇▇▇▇ in a segregated bank account established by W▇▇▇▇ for the sole purpose of holding such amount to ensure STRATTEC makes the PN7 Filing and W▇▇▇▇ shall provide STRATTEC reasonable evidence at Closing of such deposit.
The PN7 Reporting shall be completed as promptly as practicable and, in any event, within thirty (30) days following the Agreement Date.
Borrowers shall have paid to Agent for the pro rata account of each Lender who executes this Amendment and delivers such Amendment to Agent on or prior to 4 p.m. New York time, March 28, 2008 a non-refundable cash amendment fee equal to thirty-seven (37) basis points times the aggregate Commitments of such Lender.
Acquiror and the Company (or, after the Closing, the Surviving Company) shall take reasonable actions to facilitate the payment of Due PN7 Taxes by the Shareholders in accordance the common practice of the competent PRC Taxing authority; provided that, for the avoidance of doubt, neither Acquiror nor, after the Closing, the Surviving Company shall directly or indirectly bear any Due PN7 Taxes.
Each Shareholder that is liable for Due PN7 Taxes shall timely pay such Due PN7 Taxes and provide Acquiror with a copy of the Tax payment receipt issued by the applicable PRC Taxing authority in respect of such payment (the “PN7 Tax Receipt”).
Each Shareholder shall promptly notify Acquiror of the details of any material updates relating to the PN7 Reporting as well as any subsequent material discussion between such Shareholder and the PRC Taxing authority with respect to such PN7 Reporting and shall permit Acquiror to, at its own expense, attend any meetings or conferences with the PRC Taxing authority with respect to such PN7 Reporting.
For the avoidance of doubt, but without limiting any indemnification obligations of the Indemnifying Parties, including those set forth in Article IX and the Holder Support Agreements, or the ability of any Indemnified Party to recover in connection therewith, no Withholding Agent shall deduct or withhold any PN7 Taxes from any consideration payable or otherwise deliverable pursuant to this Agreement at Closing.
In the event that the transactions set out in this VAST Membership Interest Purchase Agreement do not trigger capital gains tax liability in the PRC under PN7, STRATTEC shall perform voluntary reporting to the competent tax authorities, and provide a copy of such voluntary reporting as well as a copy of all documents in relation to such voluntary reporting to W▇▇▇▇ as soon as they are available, including all relevant documents prepared by third parties such as valuation reports, external assessments, etc.
W▇▇▇▇ shall pay the Chinese Withholding Tax Amount within five calendar days to STRATTEC after STRATTEC (or its Tax advisor) has furnished a copy of the PN7 Filing to W▇▇▇▇ (along with evidence of the submission of such filing to the applicable Chinese provincial Tax authorities) by wire transfer of immediately available funds to the account designated in writing by STRATTEC to W▇▇▇▇.