YFAI definition
Examples of YFAI in a sentence
This indemnification applies only to any unpaid withholding tax on the YFAI Acquisition contemplated by the YFAI Equity Transfer Agreement.
If, as of the YFAI Closing, Yanfeng is not entitled to and does not withhold any taxes from the YFAI Equity Interest Purchase Price pursuant to this Section 7.1, Adient shall (or shall cause Adient HK to) indemnify Yanfeng with respect to the actual amount of withholding tax imposed by the Tax Authority on Yanfeng in respect of the YFAI Acquisition contemplated by the YFAI Equity Transfer Agreement, if and to the extent such tax is imposed within twelve (12) months from the Closing.
For clarity, if the tax recordal and assessment process confirms that the YFAI Acquisition contemplated by the YFAI Equity Transfer Agreement results in no gain, Adient HK and Yanfeng shall cooperate fully to obtain sufficient supporting documents to show that the tax assessment process has been completed resulting in no gain.
Except if and to the extent expressly provided otherwise in any Definitive Agreement, AYM or Yanfeng shall pay all applicable transaction taxes, including sales and use taxes, duties, customs, tariffs and other government-imposed transactional charges, in each case, if and to the extent applicable (“Transaction Taxes”) on the YFAI Equity Interest Purchase Price and the Mechanism IP Purchase Price, respectively.
Adient (or Adient HK) will be the party handling any discussion/disputes with and assessment from the Tax Authority and will participate in the negotiation with the Tax Authority in respect of the YFAI Acquisition contemplated by the YFAI Equity Transfer Agreement.
It does not include any other transactions related to Adient, Yanfeng or YFAI.
Additionally, if Controller determines that applicable Data Protection Rules or YFAI policy requires Controller to consult with or seek guidance from a Supervisory Agency or other regulatory body prior to commencing any particular Processing, Processor shall cooperate with and assist Controller in fulfilling its obligations.
The covenants of the Parties contained herein shall survive (i) until the date that is six (6) months after the later of (x) the Closing and (y) the payment in full of the YFAI Deferred Purchase Price or (ii) for any other period explicitly specified therein.
Prior to each Deferred Purchase Price Payment, in accordance with Section 7.4 of the YFAI Equity Transfer Agreement, Yanfeng shall submit necessary documents to the tax authorities and bank in the P.R.C. for the necessary tax recordals and provide to Adient HK copies of each tax recordal concurrently with each Deferred Purchase Price Payment.
Effective January 1, 2017, the Company will provide each Maintenance Technician employee a $500.00 tooling allowance per year providing the tools are required to perform work directly related to their job at YFAI Mississauga plant, and were in fact purchased, and the purchase was necessary.