Common use of Additional Withholding Taxes Clause in Contracts

Additional Withholding Taxes. If, as a result of any change in the corporate status or location of Shire, or the permitted assignment of this Agreement by Shire, additional Withholding Taxes become due on payments from Shire or its permitted assignee to New River that would not have been due absent such change in corporate status or location or permitted assignment, and New River is not able to claim a credit or reimbursement for such tax, in whole or in part, then Shire will deduct Withholding Taxes in accordance with this Section 8.5, but will, in addition to the sums otherwise payable under this Agreement, pay to New River such further sum as will ensure that, after deduction of Withholding Taxes on all such sums, the net amount received by New River equals the amount that New River would have received had the non-creditable or non-reimbursable excess portion of such additional Withholding Taxes not been deducted. To the extent that any such amount paid by Shire to New River in accordance with this Section 8.5 is in fact subsequently able to be claimed by New River as a credit or reimbursement for such tax otherwise deducted, then New River will repay such amount to Shire.

Additional Withholding Taxes. If, as a result of any change in the corporate status or location of Shire, or the permitted assignment of this Agreement by Shire, additional Withholding Taxes become due on payments from Shire or its permitted assignee to New River that would not have been due absent such change in corporate status or location or permitted assignment, and New River is not able to claim a credit or reimbursement for such tax, in whole or in part, then Shire will deduct Withholding Taxes in accordance with this Section 8.57.5, but will, in addition to the sums otherwise payable under this Agreement, pay to New River such further sum as will ensure that, after deduction of Withholding Taxes on all such sums, the net amount received by New River equals the amount that New River would have received had the non-creditable or non-reimbursable excess portion of such additional Withholding Taxes not been deducted. To the extent that any such amount paid by Shire to New River in accordance with this Section 8.5 7.5 is in fact subsequently able to be claimed by New River as a credit or reimbursement for such tax otherwise deducted, then New River will repay such amount to Shire.