Amounts Withheld From Distributions Sample Clauses
The "Amounts Withheld From Distributions" clause allows a party, typically a trustee or manager, to withhold certain sums from payments or distributions that would otherwise be made to beneficiaries or stakeholders. In practice, this clause is often used to cover obligations such as taxes, fees, or other liabilities that may be owed by the recipient or the distributing entity. By enabling the withholding of necessary amounts, the clause ensures compliance with legal or financial obligations and prevents the risk of underpayment to authorities or other third parties.
Amounts Withheld From Distributions. All amounts withheld pursuant to the Code or any provisions of any state, local, or foreign tax law with respect to any distribution to the Members shall be treated as amounts distributed to the Members pursuant to this Article 7 for all purposes under this Agreement.
Amounts Withheld From Distributions. The Joint Venture shall withhold from distributions to the Partners and pay over to any United States federal, state, local or foreign government any amounts which the Supervisory Committee reasonably determines may be required to be so withheld pursuant to the Code or any provisions of state, local or foreign law. All amounts so withheld with respect to either Partner shall be treated as amounts distributed to such Partner pursuant to this Article VI for all purposes and shall reduce on a dollar-for-dollar basis any amounts otherwise distributable to such Partner.
Amounts Withheld From Distributions. All amounts withheld pursuant to the Code or any provision of any state, local or non-U.S. tax Law with respect to any actual or deemed payment, distribution or accrual to or in respect of the Holders (or, if applicable, other Persons treated as owning equity in the Company) shall be treated as amounts distributed to the Holders (or such other Persons) pursuant to this Article V for all purposes under this Agreement. The Company is authorized to withhold from actual or deemed payments, distributions or accruals to or in respect of the Holders (or, if applicable, other Persons treated as owning equity in the Company) and to pay over to any federal, state, local or non-U.S. government any amounts required to be so withheld pursuant to the Code or any provisions of any other applicable Law; provided, that the Company shall use commercially reasonable efforts to provide written notice to the relevant Holder or Holders no less than five (5) days prior to the date on which such deduction or withholding is to be made (or, if the Company becomes aware of any requirement to withhold after such date, as soon as reasonably practicable after the Company becomes aware of such requirement) with a reasonable written explanation substantiating the requirement to deduct or withhold and the calculation of such deduction or withholding, and the parties shall use commercially reasonable efforts to cooperate to mitigate any such required deduction or withholding.