GUARANTEES AND WITHHOLDINGS Sample Clauses

GUARANTEES AND WITHHOLDINGS. This Agreement does not provide for withholdings. To secure timely, proper and complete performance of this Agreement and those ancillary to it, MVC will deliver to DET, at the latest, within the period of 30 calendar days from the date of this Agreement, a Bank Performance Bond for the sum equivalent to U.F. 10,000 (ten thousand Unidades de Fomento), which will be maintained throughout the entire term of this Agreement and until 12 months following its termination. The Bank Performance Bond will be issued in Spanish and by a bank of first class, to the satisfaction of DET. This security may be called upon, in administrative form, without legal proceedings, free of all obligation to MVC, solely upon demand by DET, in cases where MVC does not comply with its obligations pursuant to this Agreement. This guarantee may also cover any sum required to be paid by MVC to DET for penalties, fines, damages, invoices or payment statements, or otherwise due pursuant to this Agreement, with only the demand being sufficient and without legal proceedings on the part of DET. DET also may realize on the Guarantee, in the same form as set out above, in those cases where it has to pay on behalf of MVC, any sum resulting from a fraudulent or criminal act attributed to the latter. The above is without prejudice to the actions which DET may exercise separate and independently to claim the corresponding indemnification of damages in virtue of this Agreement and applicable Chilean law. If DET realizes on the security, on the conditions set out above, MVC is required to renew the guarantee up to its total initial value, within a maximum period of 30 days, from the date of the realization. In the case that MVC does not comply with this obligation, it will be considered a material breach of this Agreement.
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Related to GUARANTEES AND WITHHOLDINGS

  • Deductions and Withholdings All amounts payable or which become payable hereunder shall be subject to all deductions and withholding required by law.

  • Deductions and Withholding The Executive agrees that the Company or its subsidiaries or affiliates, as applicable, shall withhold from any and all compensation paid to and required to be paid to the Executive pursuant to this Agreement, all Federal, state, local and/or other taxes which the Company determines are required to be withheld in accordance with applicable statutes or regulations from time to time in effect and all amounts required to be deducted in respect of the Executive’s coverage under applicable employee benefit plans. For purposes of this Agreement and calculations hereunder, all such deductions and withholdings shall be deemed to have been paid to and received by the Executive.

  • Redemption for Changes in Withholding Taxes (a) The Issuers are entitled to redeem the Notes, at the option of the Issuers, at any time in whole but not in part, upon not less than 15 nor more than 45 days’ notice (which notice shall be irrevocable) to the Holders (with a copy to the Trustee) mailed by first-class mail to each Holder’s registered address (or delivered electronically if held by DTC), at a redemption price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest, if any, to, but not including, the date of redemption (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date) and Additional Amounts, if any, in the event the Issuers have become or would become obligated to pay, on the next date on which any amount would be payable with respect to the Notes, any Additional Amounts with respect to the Notes as a result of: (i) a change in or an amendment to the laws (including any regulations, rulings or protocols promulgated and treaties enacted thereunder) of any Relevant Taxing Jurisdiction affecting taxation; or (ii) any change in or amendment to, or the introduction of, any official position regarding the application, administration or interpretation of such laws, regulations, rulings, protocols or treaties (including a holding, judgment or order by a court of competent jurisdiction), which change or amendment is announced or becomes effective on or after the date on which the Notes are issued (or, in the case of a jurisdiction that becomes a Relevant Taxing Jurisdiction after such date, on or after such later date), and where the Issuers cannot avoid such obligation by taking reasonable measures available to the Issuers. Notwithstanding the foregoing, no such notice of redemption will be given (x) earlier than 90 days prior to the earliest date on which the Issuers would be obliged to make such payment of Additional Amounts and (y) unless at the time such notice is given, such obligation to pay such Additional Amounts remains in effect. (b) Before the Issuers publish or mail or deliver notice of redemption of the Notes as described above, the Issuers will deliver to the Trustee an Officers’ Certificate stating that the Issuers cannot avoid their obligation to pay Additional Amounts by taking reasonable measures available to them and that all conditions precedent to the redemption have been complied with. The Issuers will also deliver to the Trustee an Opinion of Counsel from outside counsel stating that the Issuers would be obligated to pay Additional Amounts as a result of a change or amendment described above and that all conditions precedent to the redemption have been complied with. (c) This Section will apply mutatis mutandis to any jurisdiction in which any successor Person to an Issuer is incorporated or organized or any political subdivision or taxing authority or agency thereof or therein.

  • Tax Withholdings The Company shall withhold from all payments hereunder all applicable taxes that it is required to withhold with respect to payments and benefits provided under this Agreement.

  • Taxes and Withholdings The Employer may withhold from any amounts payable under this Agreement, including any benefits or Severance Payment, such federal, state or local taxes as may be required to be withheld pursuant to applicable law or regulations, which amounts shall be deemed to have been paid to Executive.