Applicable Tax Laws definition
Examples of Applicable Tax Laws in a sentence
Each such Tax Return is true, correct and complete in all material respects and such Tax Returns disclose all information required to be disclosed in accordance with Applicable Tax Laws.
The Fund shall at all times comply with all the relevant provisions of the Applicable Tax Laws with respect to the registration of retirement income funds.
In the event that the Executive thereafter is required to make payment of any Income Tax or additional Income Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment (together with interest at the rate provided in the Applicable Tax Laws) shall be promptly paid by the Company to or for the benefit of Executive.
As a result of the uncertainty in the application of the Applicable Tax Laws at the time of the Determination, it is possible that Gross-Up Payments which will not have been made by the Company should have been made (“Underpayment”) or Gross-Up Payments are made by the Company which should not have been made (“Overpayment”), consistent with the calculations required to be made hereunder.
In the event the amount of the Gross-Up Payment exceeds the amount necessary to reimburse the Executive for his or her Income Tax, the Accounting Firm shall determine the amount of the Overpayment that has been made and any such Overpayment (together with interest at the rate provided in the Applicable Tax Laws) shall be promptly paid by Executive (to the extent he or she has received a refund if the applicable Income Tax has been paid) to or for the benefit of the Company.