Withholding Amount Clause Samples
The 'Withholding Amount' clause defines the portion of payment that one party may retain from amounts otherwise due, typically to comply with tax or regulatory obligations. In practice, this clause allows a payer to withhold a specified sum from payments to a payee if required by law, such as for income tax withholding or other government-imposed deductions. Its core function is to ensure legal compliance and protect the payer from liability by clarifying when and how withholding is permitted or required.
Withholding Amount. The Purchaser and the Shareholders shall have agreed upon the amount of withholding Taxes, if any, required to be withheld from the Cash Purchase Price in accordance with Section 2.4.
Withholding Amount. The sale of the Golden Bauhinia Share by SF Fengtai to the Purchaser constitutes an indirect transfer of PRC taxable properties undertaken by non-resident enterprises under Bulletin 7. Under the Sale and Purchase Deed, the Purchaser shall withhold the estimated amount of the EIT payable under Bulletin 7 in connection with the transfer of the Golden Bauhinia Share (the “Bulletin 7 Withholding Amount”) from the consideration payable to SF Fengtai. Please also refer to the section headed “Taxation – China Indirect Transfer Tax” in this Document. Asset Injection Completion will be subject to the satisfaction of the following conditions:
Withholding Amount. The parties hereto have created a Savings Trust Plan known as the Local Union No. 702 Annual Benefit Fund, effective January 1, 1973. The Employer agrees to deduct 10% per working hour weekly from each employee for this plan.
Withholding Amount. The parties hereto have created a vacation trust plan known as the Local Union No. 702, Annual Benefit Fund Plan effective January 1, 1973. The Employer agrees to deduct 7% per working hour weekly from each employee for this plan.
Withholding Amount. Notwithstanding the occurrence of the Termination Date and the payment by the relevant party of the Net Surplus or Net Shortfall (if any), if after such payment is made:
(i) funds at least equal to the Withholding Amount remain in the Collateral Account (as defined in the Custodian Agreement), Party A may instruct the Custodian to withhold an amount equal to the Withholding Amount; or
(ii) the funds remaining in the Collateral Account is less than the Withholding Amount, Party B shall Transfer an amount equal to such shortfall to the Custodian. Party A and Party B agree that (a) the Withholding Amount shall constitute continuing security for Party B’s obligations under Section 9 above, (b) the Custodian shall hold the Withholding Amount, subject to the terms of the Custodian Agreement, until the earlier of the date on which Party A’s written consent authorizing the release the Withholding Amount to Party B is received by the Custodian and such date as shall be the first anniversary of the Termination Date (such first anniversary being the “Release Date”), (c) if on or before the Release Date, Party A becomes aware that an event has occurred which may trigger a payment by Party B under Section 9 above, Party B agrees that Party A may so notify the Custodian and Party B and instruct the Custodian not to release the Withholding Amount to Party B on or before the first anniversary of the Termination Date (the “Adjusted Release Date”), and (d) if on or before the Release Date or Adjusted Release Date, an amount becomes payable by Party B pursuant to Section 9 above, Party A may by notice to the Custodian and Party B, require that the Custodian release to Party A such portion of the Withholding Amount as shall be needed to satisfy the amount then payable by Party B. If prior to the Release Date or Adjusted Release Date, Party B wishes to have the Withholding Amount released to it, Party B may by notice to Party A request that Party A instruct the Custodian to release the Withholding Amount to Party B.
Withholding Amount. Prior to the Closing Date, Seller shall provide Buyer with a final determination of the Withholding Amount as of the Closing Date for each Optionholder. At the Closing, Buyer shall deliver to Miltex Holdings an amount in cash equal to the Withholding Amount. Miltex Holdings shall remit the Withholding Amount to the appropriate Governmental Authority when due.
Withholding Amount. If clause 7.2 applies, the Buyer will be treated as having given an irrevocable authority and direction to the Buyer’s Representative to pay the Withholding Amount to the Commissioner immediately following Settlement.