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 6.7 from any payment by the Borrower, the Agent or any Bank shall receive or be granted a credit against or remission for any Taxes payable by it, the Agent or any Bank shall, subject to the Borrower having made any increased payment in accordance with clause 6.7 and to the extent that the Agent or any Bank can do so without prejudicing its retention of the amount of such credit or remission and without prejudice to the right of the Agent or any Bank to obtain any other relief or allowance which may be available to it, reimburse the Borrower with such amount as the Agent or any Bank shall in its absolute discretion certify to be the proportion of such credit or remission as will leave the Agent or any Bank (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 Borrower. Such reimbursement shall be made forthwith upon the Agent or any Bank certifying that the amount of the credit or remission has been received by it. Nothing contained in this Agreement shall oblige the Agent or any Bank to rearrange its tax affairs or to disclose any information regarding its tax affairs and computations. Without prejudice to the generality of the foregoing, the Borrower shall not, by virtue of this clause 6.8, be entitled to enquire about the Agent’s or any Bank’s tax affairs.

Claw-back of Tax benefit. If, following any such deduction or withholding as is referred to in clause 6.7 8.7 from any payment by the Borrower, the Agent or any Bank Lender shall receive or be granted a credit against or remission for any Taxes payable by it, the Agent or any Bank relevant Lender shall, subject to the Borrower having made any increased payment in accordance with clause 6.7 8.7 and to the extent that the Agent or any Bank relevant Lender can do so without prejudicing its the retention of the amount of such credit or remission and without prejudice to the right of the Agent or any Bank relevant Lender to obtain any other relief or allowance which may be available to it, reimburse the Borrower with such amount as the Agent or any Bank relevant Lender shall in good faith in its absolute discretion certify to be the proportion of such credit or remission as will leave the Agent or any Bank relevant Lender (after such reimbursement) in no better or worse position than it would have been in had there been no such deduction or withholding from the payment by the BorrowerBorrower as aforesaid. Such reimbursement shall be made forthwith upon the Agent or any Bank relevant Lender certifying that the amount of the such credit or remission has been received by it. Nothing contained in this Agreement shall oblige the Agent or any Bank relevant Lender to rearrange its tax affairs or to disclose any information regarding its tax affairs and computations. Without prejudice to the generality of the foregoing, the Borrower shall not, by virtue of this clause 6.88.8, be entitled to enquire about the Agent’s or any Bank’s relevant Lender's tax affairs.

Claw-back of Tax benefit. If, following any such deduction or withholding as is referred to in clause 6.7 Clause 22.2 from any payment by the Borrower, the Agent or any Bank a Lender shall receive or be granted a credit against or remission for any Taxes taxes payable by it, the Agent or any Bank such Lender shall, subject to the Borrower having made any increased payment in accordance with clause 6.7 Clause 22.2 and to the extent that the Agent or any Bank such Lender can do so without prejudicing its the retention of the amount of such credit or remission and without prejudice to the right of the Agent or any Bank such Lender to obtain any other 57 relief or allowance which may be available to it, reimburse the Borrower with such amount as such Lender shall certify (attaching supporting documentation unless the Agent or relevant Lender is prohibited from disclosing any Bank shall in its absolute discretion certify such documentation) to be the proportion of such credit or remission as will leave the Agent or any Bank such Lender (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 BorrowerBorrower as aforesaid. Such reimbursement shall be made forthwith upon the Agent or any Bank such Lender certifying that the amount of the such credit or remission has been received by it. Nothing contained in this Agreement shall oblige the Agent or any Bank a Lender to rearrange its tax affairs or to disclose any information regarding its tax affairs and computations. Without prejudice to the generality of the foregoing, the Borrower shall not, by virtue of this clause 6.8Clause 22.5, be entitled to enquire about the Agent’s or any Banka Lender’s tax affairs.

Claw-back of Tax benefit. If, following any such deduction or withholding as is referred to in clause 6.7 from any payment by the BorrowerBorrowers and the payment by the Borrowers of the amount of such deduction or withholding to the appropriate tax authorities, the Facility Agent or any Bank Lender, shall receive or be granted a credit against or remission for any Taxes payable by itit (by reason of the payment of such deduction or withholding to the tax authorities), the Facility Agent or any Bank such Lender shall, subject to the Borrower Borrowers having made any increased payment in accordance with clause 6.7 and to the extent that the Facility Agent or any Bank such Lender can do so without prejudicing its the retention of the amount of such credit or remission and without prejudice to the right of the Facility Agent or any Bank such Lender to obtain any other relief or allowance which may be available to itit and to apply any credit or remission in such order and against such amounts as it may choose, reimburse the Borrower Borrowers with such amount as the Facility Agent or any Bank such Lender shall in its absolute discretion certify to be the proportion of such credit or remission as will leave the Agent or any Bank it (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 BorrowerBorrowers as aforesaid. Such reimbursement shall be made forthwith upon the Facility Agent or any Bank or, as the case may be, the relevant Lender certifying that the amount of the such credit or remission has been received by it. Nothing contained in this Agreement clause shall oblige the Facility Agent or any Bank Lender to rearrange its tax affairs or to disclose any information regarding its tax affairs and computations. Without prejudice to the generality of the foregoing, the Borrower Borrowers shall not, by virtue of this clause 6.86.9, be entitled to enquire about the Facility Agent’s or any BankLender’s tax affairs.

Claw-back of Tax benefit. If, following any such deduction or withholding as is referred to in clause 6.7 from any payment by the BorrowerBorrowers (or any of them), the Banks, the Agent or any Bank the Security Trustee shall receive or be granted a credit against or remission for any Taxes payable by it, the Banks, the Agent or any Bank the Security Trustee (as the case may be) shall, subject to the Borrower Borrowers (or any of them) having made any increased payment in accordance with clause 6.7 6.6 and to the extent that the Banks, the Agent or any Bank the Security Trustee (as the case may be) can do so without prejudicing its the retention of the amount of such credit or remission and without prejudice to the right of the Banks, the Agent or any Bank the Security Trustee to obtain any other relief or allowance which may be available to it, reimburse the Borrower Borrowers (or any of them) with such amount amounts as the Banks, the Agent or any Bank the Security Trustee shall in its absolute discretion certify to be the proportion of such credit or remission as will leave the Banks, the Agent or any Bank the Security Trustee (after such reimbursement) in no worse position than that it would have been in had there been no such deduction or withholding from the payment by the BorrowerBorrowers (or any of them) as aforesaid. Such reimbursement shall be made forthwith upon the Banks, the Agent or any Bank the Security Trustee certifying that the amount of the such credit or remission has been received by it. Nothing contained in this Agreement shall oblige the Banks, the Agent or any Bank the Security Trustee to rearrange its tax affairs or to disclose any information regarding its tax affairs and computations. Without prejudice to the generality of the foregoing, the Borrower Borrowers (or any of them) shall not, by virtue of this clause 6.8, be entitled to enquire about the Bank’s, the Agent’s or any Bankthe Security Trustee’s (as the case may be) tax affairs.