Tax Element definition
Tax Element has the meaning given to that expression in Schedule 6.
Tax Element means the fee payable by the Charterer to the Borrower pursuant to clause 12 of the Charter, calculated in accordance with sections 4.2 and 4.3 of Schedule 6 to the Charter. Technical Adviser means ▇▇▇▇▇▇▇▇ Energy or any other technical consultant with experience of assets of the same type as the Vessel and the Mooring appointed by the Facility Agent on behalf of the Lenders, with the approval of the Borrower (such approval not to be unreasonably withheld or delayed and, to the extent that the Borrower has not responded to the Facility Agent within 5 Business Days of delivery of its request, such approval shall be deemed to have been given) to carry out the Agreed Scope of Work.
Tax Element means the fee payable by the Charterer to the Borrower pursuant to clause 13.1 of the Charter, calculated in accordance with paragraph 6 of Schedule VI to the Charter. Technical Adviser means Poten & Partners (UK) Ltd. of Viewpoint, ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇ ▇▇▇ or any other technical consultant with experience of assets of the same type as the Vessel and the Mooring appointed by the Co-ordination and Structuring Bank and/or the Facility Agent on behalf of the Lenders, with the approval of the Borrower (such approval not to be unreasonably withheld or delayed and, to the extent that the Borrower has not responded to the Facility Agent within 5 Business Days of its request, such approval shall be deemed to have been given) to review and report on the Project, to assess the Vessel’s and the Mooring’s ability to perform in accordance with the Charter, to verify whether Final Acceptance has been achieved satisfactorily and to report to the Lenders in accordance with the Agreed Scope of Work (as the same may be amended from time to time by the Facility Agent, with the consent of the Technical Adviser and the Lenders and following consultation with the Sponsors).
Examples of Tax Element in a sentence
The Tax Element Payment shall be equal to the exact amount resulting from the product of the Concerned Sub's Employees Total Amount multiplied by the then applicable rate of the company's income tax and shall be payable in full upon complete and final realization of the effective reduction in corporate income tax resulting from the payment on the Closing Date of the Concerned Sub's Employees Total Amount.
Such Tax Element Payment shall be deemed to be an adjustment to the Final Closing Purchase Price.
More Definitions of Tax Element
Tax Element means the fee payable by the Charterer to the Borrower pursuant to clause 12 of the Charter, calculated in accordance with sections 4.2 and 4.3 of Schedule 6 to the Charter.