Common use of Claw-back of Tax benefit Clause in Contracts

Claw-back of Tax benefit. If following any such deduction or withholding as is referred to in clause 8.5 any Finance Party shall receive or be granted a credit against or remission for any Taxes payable by it, such Finance Party shall, subject to the relevant Obligor having made any increased payment in accordance with clause 8.5 and to the extent that such Finance Party can do so without prejudicing the retention of the amount of such credit or remission and without prejudice to the right of such Finance Party to obtain any other relief or allowance which may be available to it, reimburse the relevant Obligor with such amount as such Finance Party shall in its absolute discretion certify to be the proportion of such credit or remission as will leave such Finance Party (after such reimbursement) in no worse position than it would have been in had there been no such deduction or withholding from the payment by the relevant Obligor as aforesaid. Such reimbursement shall be made forthwith upon such Finance Party certifying that the amount of such credit or remission has been received by it. Nothing contained in this Agreement shall oblige any Finance Party to rearrange its tax affairs or to disclose any information regarding its tax affairs and computations or to take any steps to determine whether any credit or remission for any Taxes may be available to it. Without prejudice to the generality of the foregoing, any Obligor shall not, by virtue of this clause 8.7, be entitled to enquire about any Finance Party’s tax affairs.

Claw-back of Tax benefit. If If, following any such deduction or withholding as is referred to in clause 8.5 Clause 15.2 (Grossing‑up for taxes) from any Finance payment by the Guarantor, a Creditor Party shall receive or be granted a credit against or remission for any Taxes payable by it, such Finance the relevant Creditor Party shall, subject to the relevant Obligor having made any increased payment in accordance with clause 8.5 and to the extent that such Finance Party it can do so without prejudicing the retention of the amount of such credit or remission and without prejudice to the right of such Finance Creditor Party to obtain any other relief or allowance which may be available to it, reimburse the relevant Obligor Guarantor with such amount as such Finance the relevant Creditor Party shall in its absolute discretion certify to be the proportion of such credit or remission as will leave such Finance the pertinent Creditor Party (after such reimbursement) in no worse position than it would have been in had there been no such deduction or withholding from the payment by the relevant Obligor Guarantor as aforesaid. Such reimbursement shall be made forthwith upon such Finance the relevant Creditor Party certifying that the amount of such credit or remission has been received by it. Nothing contained in this Agreement Guarantee shall oblige any Finance Creditor Party to rearrange its tax affairs or to disclose any information regarding its tax affairs and computations or to take any steps to determine whether any credit or remission for any Taxes may be available to itcomputations. Without prejudice to the generality of the foregoing, any Obligor the Guarantor shall not, by virtue of this clause 8.7clause, be entitled to enquire about any Finance the Creditor Party’s tax affairs.

Claw-back of Tax benefit. If If, following any such deduction or withholding as is referred to in clause 8.5 Clause 22.2 (Grossing-up for taxes) from any Finance payment by the Borrower, a Creditor Party shall receive or be granted a credit against or remission for any Taxes payable by it, such Finance the relevant Creditor Party shall, subject to the relevant Obligor having made any increased payment in accordance with clause 8.5 and to the extent that such Finance Party it can do so without prejudicing the retention of the amount of such credit or remission and without prejudice to the right of such Finance Creditor Party to obtain any other relief or allowance which may be available to it, reimburse the relevant Obligor Borrower with such amount as such Finance the relevant Creditor Party shall in its absolute discretion certify to be the proportion of such credit or remission as will leave such Finance the pertinent Creditor Party (after such reimbursement) in no worse position than it would have been in had there been no such deduction or withholding from the payment by the relevant Obligor Borrower as aforesaid. Such reimbursement shall be made forthwith upon such Finance the relevant Creditor Party certifying that the amount of such credit or remission has been received by it. Nothing contained in this Agreement shall oblige any Finance Creditor Party to rearrange its tax affairs or to disclose any information regarding its tax affairs and computations or to take any steps to determine whether any credit or remission for any Taxes may be available to itcomputations. Without prejudice to the generality of the foregoing, any Obligor the Borrower shall not, by virtue of this clause 8.7clause, be entitled to enquire about any Finance the Creditor Party’s tax affairs.

Claw-back of Tax benefit. If If, following any such deduction or withholding as is referred to in clause 8.5 any Finance Party shall receive or be granted a credit against or remission for any Taxes payable by it, such Finance Party shall, subject to the relevant Obligor Borrower having made any increased payment in accordance with clause 8.5 and to the extent that such Finance Party can do so without prejudicing the retention of the amount of such credit or remission and without prejudice to the right of such Finance Party to obtain any other relief or allowance which may be available to it, reimburse the relevant Obligor Borrower with such amount as such Finance Party shall in its absolute discretion certify to be the proportion of such credit or remission as will leave such Finance Party (after such reimbursement) in no worse position than it would have been in had there been no such deduction or withholding from the payment by the relevant Obligor Borrower as aforesaid. Such reimbursement shall be made forthwith upon such Finance Party certifying that the amount of such credit or remission has been received by it. Nothing contained in this Agreement shall oblige any Finance Party to investigate whether a Tax credit is payable, rearrange its tax affairs or to disclose any information regarding its tax affairs and computations or to take any steps to determine whether any credit or remission for any Taxes may be available to itcomputations. Without prejudice to the generality of the foregoing, any Obligor the Borrower shall not, by virtue of this clause 8.7, be entitled to enquire about any Finance Party’s 's tax affairs.

Claw-back of Tax benefit. If following any such deduction or withholding as is referred to in clause 8.5 the Finance Parties or any Finance Party of them shall receive or be granted a credit against or remission for any Taxes payable by it, such the Finance Party Parties shall, subject to the relevant Obligor having made any increased payment in accordance with clause 8.5 and to the extent that such any Finance Party can do so without prejudicing the retention of the amount of such credit or remission and without prejudice to the right of such any Finance Party to obtain any other relief or allowance which may be available to it, reimburse the relevant Obligor with such amount as such any Finance Party shall in its absolute discretion certify to be the proportion of such credit or remission as will leave such any Finance Party (after such reimbursement) in no worse position than it would have been in had there been no such deduction or withholding from the payment by the relevant Obligor as aforesaid. Such reimbursement shall be made forthwith upon such any Finance Party certifying that the amount of such credit or remission has been received by it. Nothing contained in this Agreement shall oblige any Finance Party to rearrange its tax affairs or to disclose any information regarding its tax affairs and computations or to take any steps to determine whether any credit or remission for any Taxes may be available to itcomputations. Without prejudice to the generality of the foregoing, any Obligor the Obligors shall not, by virtue of this clause 8.7, be entitled to enquire about any Finance Party’s 's tax affairs.

Claw-back of Tax benefit. If following any such deduction or withholding as is referred to in clause 8.5 9.5 any Finance Secured Party shall receive or be granted a credit against or remission for any Taxes payable by it, such Finance the relevant Secured Party shall, subject to the relevant Obligor having made any increased payment in accordance with clause 8.5 9.5 and to the extent that such Finance the relevant Secured Party can do so without prejudicing the retention of the amount of such credit or remission and without prejudice to the right of such Finance the relevant Secured Party to obtain any other relief or allowance which may be available to it, reimburse the relevant Obligor with such amount as such Finance the relevant Secured Party shall in its absolute discretion certify to be the proportion of such credit or remission as will leave such Finance the relevant Secured Party (after such reimbursement) in no worse position than it would have been in had there been no such deduction or withholding from the payment by the relevant Obligor as aforesaid. Such reimbursement shall be made forthwith upon such Finance the relevant Security Party certifying that the amount of such credit or remission has been received by it. Nothing contained in this Agreement shall oblige any Finance Secured Party to rearrange its tax affairs or to disclose any information regarding its tax affairs and computations or to take any steps to determine whether any credit or remission for any Taxes may be available to itcomputations. Without prejudice to the generality of the foregoing, any Obligor the Obligors shall not, by virtue of this clause 8.79.7, be entitled to enquire about any Finance Secured Party’s 's tax affairs.

Claw-back of Tax benefit. If If, following any such deduction or withholding as is referred to in clause 8.5 any Finance Party shall receive or be granted a credit against or remission for any Taxes payable by it, such Finance Party shall, subject to the relevant Obligor Borrower having made any increased payment in accordance with clause 8.5 and to the extent that such Finance Party can do so without prejudicing the retention of the amount of such credit or remission and without prejudice to the right of such Finance Party to obtain any other relief or allowance which may be available to it, reimburse the relevant Obligor Borrower with such amount as such Finance Party shall in its absolute discretion certify to be the proportion of such credit or remission as will leave such Finance Party (after such reimbursement) 66 in no worse position than it would have been in had there been no such deduction or withholding from the payment by the relevant Obligor Borrower as aforesaid. Such reimbursement shall be made forthwith upon such Finance Party certifying that the amount of such credit or remission has been received by it. Nothing contained in this Agreement shall oblige any Finance Party to investigate whether a Tax credit is payable, rearrange its tax affairs or to disclose any information regarding its tax affairs and computations or to take any steps to determine whether any credit or remission for any Taxes may be available to itcomputations. Without prejudice to the generality of the foregoing, any Obligor shall notno Borrower shall, by virtue of this clause 8.7, be entitled to enquire about any Finance Party’s 's tax affairs.

Claw-back of Tax benefit. If If, following any such deduction or withholding as is referred to in clause 8.5 Clause 17.3 from any payment by the Borrower a Finance Party shall receive or be granted and shall utilize the benefit of a credit against or remission for any Taxes payable by it, such Finance Party shall, subject to the relevant Obligor Borrower having made any increased payment in accordance with clause 8.5 Clause 17.3 and to the extent that such Finance Party can do so without prejudicing the retention of the amount of such credit or remission and without prejudice to the right of such Finance Party to obtain any other relief or allowance which may be available to it, reimburse the relevant Obligor Borrowers with such amount as such Finance Party shall in its absolute discretion certify to be the proportion of such credit or remission as will leave such Finance Party (after such reimbursement) in no worse position than it would have been in had there been no such deduction or withholding from the payment by the relevant Obligor Borrowers as aforesaid. Such reimbursement shall be made forthwith upon such Finance Party certifying that the amount of such credit or remission has been received by it. Nothing contained in this Agreement shall oblige any Finance Party to rearrange its tax affairs or to disclose any information regarding its tax affairs and computations or to take any steps to determine whether any credit or remission for any Taxes may be available to itcomputations. Without prejudice to the generality of the foregoing, any Obligor the Borrowers shall not, by virtue of this clause 8.7Clause 17.4, be entitled to enquire about any Finance Party’s tax affairs.