Obligation for Payment of Taxes Sample Clauses

Obligation for Payment of Taxes. Plains shall be entitled to receive from Spinco amounts calculated in accordance with Paragraphs 2, 3, 5, 12 and 13 hereof. Except as otherwise provided in Paragraph 5, the amounts, if any, that Spinco shall be obligated to pay Plains pursuant to Paragraph 5, with respect to Tax periods of the Plains Group ending on or prior to the Spin-Off Date, shall be paid (i) within 30 days after the Spin-Off Date where the Taxes were paid by Plains on or before the Spin-Off Date and shall include interest thereon calculated for the period from the Spin-Off Date to the date of payment at a per annum rate of interest (computed on the basis of the actual number of days elapsed (including the Spin-Off Date but excluding the payment date) over a year of 365 or 366 days, as the case may be) equal to the underpayment rate under Section 6601 of the Code, or (ii) within 30 days after the date of payment where the Taxes are paid by Plains after the Spin-Off Date. This initial settlement shall be based on the Returns as they have been filed and shall include any amendments of or adjustments to such Returns that have been finally settled. Except as otherwise provided in Paragraph 5, any amounts that Spinco shall be obligated to pay Plains pursuant to Paragraph 5 with respect to Tax periods of the Plains Group ending after the Spin-Off Date shall be paid within 30 days after filing of the Returns for such Tax periods. In the event of an adjustment to the amount of payment for any Tax period as determined under Paragraph 12, Plains shall be entitled to receive from Spinco such payment within 30 days after payment of a deficiency to or receipt of a refund from the Tax Authority. In the event of an adjustment under Paragraph 12 resulting in no additional payment to or receipt of a refund from the Tax Authority, settlement shall be made within 30 days after filing of the amended Return or final settlement of the adjustment. In the event that Spinco is delinquent in paying to Plains any amount due pursuant to this Paragraph 3, including any interest accrued thereon pursuant to this Paragraph 3, such unpaid amount shall bear interest from the original due date until paid at a per annum rate equal to the lesser of (a) 18 percent and (b) the maximum lawful non-usurious rate of interest, if any, which under applicable law Plains is permitted to charge Spinco thereon from time to time.
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Obligation for Payment of Taxes. AFS and AG US Holdings and Subsidiaries agree to the termination of the AFS Tax Sharing Agreement as of the Closing date subject to the following provisions. The terms of the AFS Tax Sharing Agreement, including paragraphs 4 and 5 thereof regarding effects of termination, shall be adhered to for the timely payment of Taxes covered thereunder subject to the following modifications:
Sample 1
Obligation for Payment of Taxes. Northwest agrees to pay or cause to be paid timely all income Taxes in respect of Pinnacle Airlines that are (i) due with respect to Returns that Northwest is required to prepare and timely file pursuant to Section 2 hereof (including but not limited to Returns prepared by Northwest but filed by Pinnacle Airlines or filed at the direction of Northwest), (ii) due on or before Closing for which no Return is required to be or has been filed, or (iii) due as a result of the Election described in Section 4 hereof. In addition, Northwest agrees to timely pay any and all other income Taxes that may be due after the Closing Date that are allocable to the period prior to and including the Closing Date. All other Taxes will be the responsibility of Buyer. The parties hereto will, to the extent permitted by applicable law, elect with the relevant Tax Authority to treat for all purposes the Closing Date as the last day of a taxable period of Pinnacle Airlines, and such period shall be treated as a "Short Period" for purposes of this Agreement. In any case where applicable law does not permit Pinnacle Airlines to treat the Closing Date as the last day of a Short Period, then for purposes of this Agreement, the portion of such Taxes that is attributable to the operations of Pinnacle Airlines for such Interim Period (as defined below) shall be, the Taxes that would be due with respect to the Interim Period, if such Interim Period were a Short Period. "Interim Period" means with respect to any Taxes imposed on Pinnacle Airlines on a periodic basis for which the Closing Date is not the last day of a Short Period, the period of time beginning on the first day of the actual taxable period that includes (but does not end on) the Closing Date and ending on and including the Closing Date.
Sample 1
Obligation for Payment of Taxes. Weatherford shall be entitled to receive from Grant amounts calculated in accordance with Paragraphs 5 and 12 hereof. Except as otherwise provided in Paragraph 5, the amounts, if any, that Grant shall be obligated to pay Weatherford pursuant to Paragraph 5, with respect to Tax periods of the Weatherford Group ending on or prior to the Spin-Off Date, shall be paid within 120 days after the Spin-Off Date. This initial settlement shall be based on the Returns as they have been filed and shall include any amendments of or adjustments to such Returns that have been finally settled. Except as otherwise provided in Paragraph 5, any amounts that Grant shall be obligated to pay Weatherford pursuant to Paragraph 5 with respect to Tax periods of the Weatherford Group ending after the Spin-Off Date shall be paid within 30 days after filing of the Returns for such Tax periods. In the event of an adjustment to the amount of payment for any Tax period as determined under Paragraph 12, Weatherford shall be entitled to receive from Grant such payment within 30 days after payment of a deficiency to or receipt of a refund from the Tax Authority. In the event of an adjustment under Paragraph 12 resulting in no additional payment to or receipt of a refund from the Tax Authority, settlement shall be made within 30 days after filing of the amended Return or final settlement of the adjustment.
Sample 1

Related to Obligation for Payment of Taxes

  • Payment of Taxes The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of the Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.

  • No Credit for Payment of Taxes or Imposition Such Pledgor shall not be entitled to any credit against the principal, premium, if any, or interest payable under the Credit Agreement, and such Pledgor shall not be entitled to any credit against any other sums which may become payable under the terms thereof or hereof, by reason of the payment of any Tax on the Pledged Collateral or any part thereof.

  • Payment of Taxes, Etc Pay and discharge, and cause each of its Subsidiaries to pay and discharge, before the same shall become delinquent, (i) all taxes, assessments and governmental charges or levies imposed upon it or upon its property and (ii) all lawful claims that, if unpaid, might by law become a Lien upon its property; provided, however, that neither the Borrower nor any of its Subsidiaries shall be required to pay or discharge any such tax, assessment, charge or claim that is being contested in good faith and by proper proceedings and as to which appropriate reserves are being maintained, unless and until any Lien resulting therefrom attaches to its property and becomes enforceable against its other creditors.

  • Payment of Tax To the extent a Party is required by applicable Law to deduct and withhold taxes on any payment to the other Party, the paying Party shall pay the amounts of such taxes to the proper Governmental Authority in a timely manner and promptly transmit to the other Party an official tax certificate or other evidence of such withholding sufficient to enable such other Party to claim such payment of taxes.

  • Payment of Taxes and Claims The Company will and will cause each of its Subsidiaries to file all tax returns required to be filed in any jurisdiction and to pay and discharge all taxes shown to be due and payable on such returns and all other taxes, assessments, governmental charges, or levies imposed on them or any of their properties, assets, income or franchises, to the extent such taxes and assessments have become due and payable and before they have become delinquent and all claims for which sums have become due and payable that have or might become a Lien on properties or assets of the Company or any Subsidiary, provided that neither the Company nor any Subsidiary need pay any such tax or assessment or claims if (i) the amount, applicability or validity thereof is contested by the Company or such Subsidiary on a timely basis in good faith and in appropriate proceedings, and the Company or a Subsidiary has established adequate reserves therefor in accordance with GAAP on the books of the Company or such Subsidiary or (ii) the nonpayment of all such taxes and assessments in the aggregate could not reasonably be expected to have a Material Adverse Effect.

  • Payment of Taxes and Claims, Etc Pay, and cause each of its Subsidiaries to pay, (i) all taxes, assessments and governmental charges imposed upon it or upon its property, and (ii) all claims (including, without limitation, claims for labor, materials, supplies or services) which might, if unpaid, become a Lien upon its property, unless, in each case, the validity or amount thereof is being contested in good faith by appropriate proceedings and adequate reserves are maintained with respect thereto.

  • Payment of Tax Obligations The Borrower will, and will cause each of its Subsidiaries to, pay its Tax liabilities, assessments and governmental charges that, if not paid, could reasonably be expected to result in a Material Adverse Effect before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings, (b) the Borrower or such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP and (c) the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect.

  • Payment of Taxes, Assessments, etc The Servicer (other than with respect to a Foreclosed Property) and the Special Servicer (with respect to any Foreclosed Property) shall maintain accurate records with respect to the Property (or such Foreclosed Property, as the case may be) reflecting the status of real estate taxes, assessments, charges and other similar items that are or may become a lien on the Property (or such Foreclosed Property, as the case may be) and the status of insurance premiums payable in respect of insurance policies required to be maintained pursuant to Section 3.11 hereof. The Servicer shall obtain, from time to time, all bills for the payment of such items (including renewal premiums). The Servicer shall pay real estate taxes, assessments and charges, insurance premiums, ground rent, operating expenses and other similar items from funds in the applicable Reserve Account in accordance with the Mortgage Loan Agreement at such time as may be required by the Mortgage Loan Documents. If the Borrower Related Parties do not make the necessary payments and/or a Mortgage Loan Event of Default has occurred and amounts in the applicable Reserve Account are insufficient to make such payments, the Servicer shall make a Property Protection Advance, subject to the determination of non-recoverability provided in Section 3.23, from its own funds for amounts payable with respect to all such items related to the Property when and as the same shall become due and payable. The Servicer shall ensure that the amount of funds in the applicable Reserve Account is increased when and if applicable taxes, assessments, charges and other similar items, ground rents or insurance premiums are increased, in accordance with the terms of the Mortgage Loan Agreement.

  • Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes (i) Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable Laws. If any applicable Laws (as determined in the good faith discretion of the Administrative Agent) require the deduction or withholding of any Tax from any such payment by the Administrative Agent or a Loan Party, then the Administrative Agent or such Loan Party shall be entitled to make such deduction or withholding, upon the basis of the information and documentation to be delivered pursuant to subsection (e) below.

  • Payment of Taxes and Charges All shares of Common Stock issuable upon the exercise of this Warrant pursuant to the terms hereof shall be validly issued, fully paid and nonassessable, and without any preemptive rights. The Company shall pay all expenses in connection with, and all taxes and other governmental charges that may be imposed with respect to, the issue or delivery thereof.

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