Common use of Agent Right to Withhold Clause in Contracts

Agent Right to Withhold. Notwithstanding any other provision of this Agreement, each Agent shall be entitled to make a deduction or withholding from any payment which it makes under any Securities for or on account of any Tax, if and only to the extent so required by Applicable Law, in which event the relevant Agent shall (i) make such payment after such deduction or withholding has been made and shall account to the relevant Authority within the time allowed for the amount so deducted or withheld, provided that it shall have advised the Issuer of such requirement as soon as it becomes aware thereof, so as to allow the Issuer to redirect such payment in accordance with the provisions of Clause 5.13 and (ii) notify the Issuer of any amount so paid by it. The Agents shall not be obliged to pay any additional amounts as shall be necessary in order that the net amounts paid after such deduction or withholding shall equal the amount which would have been receivable in the absence of such deduction or withholding. For the avoidance of doubt, FATCA Withholding is a deduction or withholding which is deemed to be required by Applicable Law for the purposes of this Clause 5.12.