Common use of Change in Tax Laws Clause in Contracts

Change in Tax Laws. Notwithstanding anything to the contrary set forth in this Section 5, in the event the Tax laws regarding Foreign Subsidiaries are changed to remove the creation of a material Tax obligation for the Companies, each such Foreign Subsidiary may, at Borrower's discretion, execute a Guaranty in exchange for a release of the pledge of its securities.

Change in Tax Laws. Notwithstanding anything to the contrary set forth in this Section SECTION 5, in the event the Tax laws Laws regarding Foreign foreign Subsidiaries are changed to remove the creation of a material Tax obligation for Obligation against the Companiesforeign Subsidiary, each such Foreign foreign Subsidiary may, at Borrower's discretion, and Subsidiary's discretion execute a Guaranty and Security Agreement to provide Lender with a security interest in all of its present and future accounts receivable and inventory in exchange for a release of the its pledge of its securities.

Change in Tax Laws. Notwithstanding anything to the contrary set forth in this Section SECTION 5, in the event the Tax laws regarding Foreign Subsidiaries are changed to remove the creation of a material Tax obligation for the Companies, each such Foreign Subsidiary may, at Borrower's discretion, execute a Guaranty in exchange for a release of the pledge of its securities.