Statutory Obligations definition

Statutory Obligations means monetary and administrative obligations required by law.
Statutory Obligations means deductions due to the Government pursuant to the operation of the laws and shall include deductions accruing on account of a court order or fulfillment of any obligation under the law.

Examples of Statutory Obligations in a sentence

  • All the Statutory Obligations such as ESI, PF, Labor Acts, Factories Act, Service Tax, etc.

  • Tenderers should include in the rates all costs necessary for the execution of the works including but not limited to Insurance, Security, and Statutory Obligations among others.

  • All the Statutory Obligations such as ESI, PF, Labor Acts, Factories Act, Goods & Services tax (GST), etc.

  • The rates offered by the Contractors shall be all inclusive and all applicable taxes, levies and other Statutory Obligations shall be included in the quoted price.

  • Requirements of Self-Regulatory Organization; Actions To Be Taken In Fulfillment of Statutory Obligations.

  • The ODPM 06/2005: Biodiversity and Geological Conservation – Statutory Obligations and Their Impact within the Planning System, provide additional advice and support the NPPF.

  • All the Statutory Obligations such asESI, PF, Labor Acts, Factories Act, Service Tax etc will have to be taken care of by the vendor.

  • Agency will act as Principal Employer in respect of all Statutory Obligations related to workmen deployed at the site in execution of the work.

  • AGENCY will act as Principal Employer in respect of all Statutory Obligations related to workmen deployed at the site in execution of the work.

  • Govt Agency will act as Principal Employer in respect of all Statutory Obligations related to workmen deployed at the site in execution of the work.


More Definitions of Statutory Obligations

Statutory Obligations. The Cash Manager will use its reasonable endeavours on behalf of the Mortgages Trustee and each Funding Beneficiary, to prepare or procure the preparation of and file all reports, annual returns, financial statements, statutory forms and other returns which the Mortgages Trustee and each Funding Beneficiary is required by law to prepare and file. Subject to approval thereof by the directors of the Mortgages Trustee or the applicable Funding Beneficiary (as appropriate), the Cash Manager shall cause such accounts to be audited by the Auditors and shall procure so far as it is able so to do that the Auditors shall make a report thereon as required by law. Copies of all documents referred to in this Clause 8.4 which relate to the Mortgages Trustee shall be delivered to the Mortgages Trustee, each Funding Beneficiary, each Funding Security Trustee and the Rating Agencies. Copies of all documents referred to in this Clause 8.4 which relate to Funding shall be delivered to Funding, the Security Trustee and the Rating Agencies. Copies of all documents referred to in this Clause 8.4 which relate to Funding 2 shall be delivered to Funding 2, the Funding 2 Security Trustee and the Rating Agencies. In each case, such documents shall be delivered soon as practicable after the end of each accounting reference period of the Mortgages Trustee or the applicable Funding Beneficiary (as appropriate).
Statutory Obligations means as to the Company and each of the Company Subsidiaries, obligations or liabilities of the Business arising from applicable Law or the regulation, control or supervision of the Argentine Regulators, including, without limitation, social security savings, annuity products, pension savings and life insurance products, in each case, whether arising under contract with Argentine Regulators or applicable Law.
Statutory Obligations. Statutory obligations as per law of the land are to be complied with P.F., ESI, Employee’s compensation, Bonus, Minimum wages, for the persons as published by Joint Labour Commissioner, Govt. of West Bengal etc. are to be paid to the persons involved in spot billing activity. In non ESI areas the vendor has to arrange for Medical Benefit to the Employees engaged by them and or arrange for mediclaim policy/ appropriate insurance policy for the benefit of the employees engaged by them from any of Insurance Companies controlled by Insurance Regulatory Development Authority. The wage revision which comes under revisions twice in a year and has to be complied by the vendor immediately from the date of such revisions made by the Labour Commission, Govt. of West Bengal. ITB. 32. ‘Statutory obligations as per law of the land’ shall mean the provisions of following Acts including the latest amendments and / or replacement, if any:

Related to Statutory Obligations

  • Guaranty Obligation means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person for any Indebtedness, lease, dividend or other obligation (the “primary obligation”) of another Person (the “primary obligor”), if the purpose or intent of such Person in incurring such liability, or the economic effect thereof, is to guarantee such primary obligation or provide support, assurance or comfort to the holder of such primary obligation or to protect or indemnify such holder against loss with respect to such primary obligation, including (a) the direct or indirect guaranty, endorsement (other than for collection or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse by such Person of any primary obligation, (b) the incurrence of reimbursement obligations with respect to any letter of credit or bank guarantee in support of any primary obligation, (c) the existence of any Lien, or any right, contingent or otherwise, to receive a Lien, on the property of such Person securing any part of any primary obligation and (d) any liability of such Person for a primary obligation through any Contractual Obligation (contingent or otherwise) or other arrangement (i) to purchase, repurchase or otherwise acquire such primary obligation or any security therefor or to provide funds for the payment or discharge of such primary obligation (whether in the form of a loan, advance, stock purchase, capital contribution or otherwise), (ii) to maintain the solvency, working capital, equity capital or any balance sheet item, level of income or cash flow, liquidity or financial condition of any primary obligor, (iii) to make take-or-pay or similar payments, if required, regardless of non-performance by any other party to any Contractual Obligation, (iv) to purchase, sell or lease (as lessor or lessee) any property, or to purchase or sell services, primarily for the purpose of enabling the primary obligor to satisfy such primary obligation or to protect the holder of such primary obligation against loss or (v) to supply funds to or in any other manner invest in, such primary obligor (including to pay for property or services irrespective of whether such property is received or such services are rendered); provided, however, that “Guaranty Obligations” shall not include (x) endorsements for collection or deposit in the ordinary course of business and (y) product warranties given in the ordinary course of business. The outstanding amount of any Guaranty Obligation shall equal the outstanding amount of the primary obligation so guaranteed or otherwise supported or, if lower, the stated maximum amount for which such Person may be liable under such Guaranty Obligation.

  • Recourse Indebtedness means any Indebtedness of the Borrower or any other member of the Consolidated Group with respect to which the liability of the obligor is not limited to the obligor’s interest in specified assets securing such Indebtedness, subject to customary limited exceptions for certain acts or types of liability.

  • Non-Recourse Indebtedness with respect to any Person means Indebtedness of such Person for which (i) the sole legal recourse for collection of principal and interest on such Indebtedness is against the specific Property identified in the instruments evidencing or securing such Indebtedness (and any accessions thereto and proceeds thereof) and such Property was acquired with the proceeds of such Indebtedness or such Indebtedness was incurred within 180 days after the acquisition of such Property and (ii) no other assets of such Person may be realized upon in collection of principal or interest on such Indebtedness. Indebtedness which is otherwise Non-Recourse Indebtedness will not lose its character as Non-Recourse Indebtedness because there is recourse to the borrower, any guarantor or any other Person for (i) environmental or tax warranties and indemnities and such other representations, warranties, covenants and indemnities as are customarily required in such transactions, or (ii) indemnities for and liabilities arising from fraud, misrepresentation, misapplication or non-payment of rents, profits, insurance and condemnation proceeds and other sums actually received by the borrower from secured assets to be paid to the lender, waste and mechanics’ liens.