Withholding Agents definition
Examples of Withholding Agents in a sentence
Foamix shall request in the Options Tax Ruling an exemption for the Withholding Agent(s) and their respective agents from any withholding obligation.
If the Creditors’ Committee accepts the Company’s proposal, the Withholding Agents will proceed to release the funds to the Company.
If the Creditors’ Committee accepts the amount disbursed, it will inform the Creditors’ Representative of such circumstance, who must certify this and the funds deposited with the Withholding Agents may be released to the Debtor.
Conversely, the amounts disbursed will be deemed to be sufficient unless the Creditors’ Committee decides otherwise based on a vote of four of its members, in which case the amounts disbursed will be returned by the Withholding Agents to the respective Creditor, also based on the understanding that the Fee was not due.
To the extent that such amounts are not so deducted and withheld, the Person to whom such amounts are paid shall indemnify each of the Withholding Agents with respect to such amounts required to be deducted and withheld and penalties, interest and additions to Tax, except to the extent attributable to the gross negligence or willful misconduct of the Withholding Agents.
If such Lender fails to deliver such forms, then the Withholding Agents may withhold from any payment to such Lender an amount equivalent to the applicable backup withholding tax imposed by the Code.
The Withholding Agents shall timely and properly remit to the appropriate Governmental Authority any amounts so withheld.