FOREIGN OFFSET Clause Samples

The FOREIGN OFFSET clause allows for the adjustment of amounts owed or payable under a contract by accounting for obligations or credits that arise in foreign jurisdictions. In practice, this means that if a party has a claim or liability in another country related to the same transaction or relationship, those amounts can be offset against what is owed under the main contract. This clause helps streamline settlements across borders and reduces the risk of double payment or uncollected debts by ensuring that all related financial obligations are considered together, regardless of their origin.
FOREIGN OFFSET. This Contract has been awarded with the cognizance of General Dynamics Corporation Industrial Participation Programs, all offset credits resulting from this Contract are the sole property of General Dynamics Corporation to be applied to the offset program of its choice. ▇▇▇▇▇▇ agrees, at no cost, to assist General Dynamics Corporation in securing appropriate offset credits from the respective government authorities. Any offset credits earned resulting from these transactions must receive written consent and authorization from Buyer prior to use.
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FOREIGN OFFSET. If the Contract is issued to a non-U.S. Seller and/or if the work is being performed by a non-U.S. Seller in whole or in part, all offset credits resulting from this Contract will be the sole property of Buyer. ▇▇▇▇▇▇ agrees, at no cost, to assist ▇▇▇▇▇ (or ▇▇▇▇▇’s parents or affiliates if requested) in securing appropriate offset credits from the respective government authorities.
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FOREIGN OFFSET. If the Contract is issued to a non-U.S. Seller and/or if the work is being performed by a non-U.S. Seller in whole or in part, all offset credits resulting from this Contract will be the sole property of Buyer. ▇▇▇▇▇▇ agrees, at no cost, to assist ▇▇▇▇▇ (or ▇▇▇▇▇’s parents or affiliates if requested) in securing appropriate offset credits from the respective government authorities. If requested, Seller shall provide information to Buyer related to the Canadian Content Value of the Contract.
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FOREIGN OFFSET. This PO, if issued to a non-U.S./foreign Seller and/or if being performed by a non U.S./foreign Seller in whole or in part, has been awarded with the cognizance of General Dynamics Corporation Industrial Participation Programs. All Offset Credits resulting from this PO are the sole property of General Dynamics Corporation to be applied to the Offset Program of its choice. ▇▇▇▇▇▇ agrees, at no cost, to assist General Dynamics Corporation in securing appropriate Offset Credits from the respective government authorities.
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FOREIGN OFFSET. If the Contract is issued to a non-U.S. Seller and/or if the work is being performed by a non-U.S. Seller in whole or in
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Related to FOREIGN OFFSET

  • Foreign Taxes Any amounts payable hereunder, other than payments of interest, principal or premium, if any, in respect of any of the Securities, to an Underwriter shall be made free and clear of and without withholding or deduction for or on account of any and all taxes, levies, imposts, duties, charges or fees of whatsoever nature now or hereafter imposed, levied, collected, deducted or withheld or assessed by or on behalf of Australia or any political subdivision thereof or by any jurisdiction, other than the United States or any taxing authority or political subdivision thereof, in which the Bank has a branch, an office or any agency from which payment is made (a “Taxing Authority”), excluding (i) any such tax which would not have been imposed if such Underwriter had no present or former connection with any such jurisdiction other than the performance of its obligations hereunder, (ii) any income or franchise tax imposed on the net income of such Underwriter by any jurisdiction of which such Underwriter is a resident, citizen or domiciliary, or in which such Underwriter is engaged in business and (iii) any tax imposed that would not have been imposed but for the failure by such Underwriter to comply with any certification, identification or other reporting requirements concerning the nationality, residence, identity or connection with any Taxing Authority if compliance is required by such Taxing Authority as a pre-condition to exemption from, or reduction in rate of, such tax (all such non-excluded taxes, the “Foreign Taxes”). If, by operation of law or otherwise, that portion of amounts payable hereunder represented by Foreign Taxes withheld or deducted cannot be paid or remitted, then amounts payable under this Agreement shall be increased to such amounts as are necessary to yield and remit to such Underwriter amounts which, after deduction of all Foreign Taxes (including all Foreign Taxes payable on such increased payments) equal the amounts that would have been payable if no Foreign Taxes had been so withheld or deducted (the “Additional Amount”); provided, however, that no Additional Amount with respect to any payment or compensation to such Underwriter hereunder shall be required to be paid in the event that such payment or compensation is subject to such Foreign Tax by reason of such Underwriter being connected with the jurisdiction of the Taxing Authority other than by reason of merely receiving payment hereunder.

  • FOREIGN TAX CREDITS AVIF agrees to consult in advance with LIFE COMPANY concerning any decision to elect or not to elect pursuant to Section 853 of the Code to pass through the benefit of any foreign tax credits to its shareholders.

  • Foreign Ownership Seller is not a “foreign person” as that term is defined in the U.S. Internal Revenue Code of 1986, as amended, and the regulations promulgated pursuant thereto, and Buyer has no obligation under Section 1445 of the U.S. Internal Revenue Code of 1986, as amended, to withhold and pay over to the U.S. Internal Revenue Service any part of the “amount realized” by Seller in the transaction contemplated hereby (as such term is defined in the regulations issued under said Section 1445).

  • FINANCIAL INSTITUTION’S LIABILITY Liability for failure to make transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • Foreign Lenders Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which the Borrower is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement or any other Loan Document shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by applicable law, such properly completed and executed documentation prescribed by applicable law or reasonably requested by the Borrower as will permit such payments to be made without withholding or at a reduced rate.