Common use of Credits and Deductions Clause in Contracts

Credits and Deductions. If the Agent or any Bank is, in its sole opinion, able to apply for any credit, deduction or other reduction in Bank Taxes by reason of any payment made by the Borrower under Section 1.13 (a) or (b), the Agent or such Bank, as the case may be, shall use reasonable efforts to obtain such credit, deduction or other reduction and, upon receipt thereof, will pay to the Borrower such amount, not exceeding the increased amount paid by the Borrower, as is equal to the net after-tax value to the Agent or such Bank, in its sole opinion, of such part of such credit, deduction or other reduction as it considers to be allocable to such payment by the Borrower, having regard to all of the Agent's or such Bank's dealings giving rise to similar credits, deductions or other reductions in relation to the same tax period and to the cost of obtaining the same; provided, however, that (i) the Agent or such Bank, as the case may be, shall not be obligated to disclose to the Borrower any information regarding its tax affairs or computations and (ii) nothing in this Section 1.13(c) shall interfere with the right of the Agent or such Bank to arrange its tax affairs as it deems appropriate.

Credits and Deductions. If the Agent or any Bank Lender is, in its sole opinionreasonable business judgment, able to apply for any credit, deduction or other reduction in Bank Taxes by reason of any payment made by the Borrower under Section 1.13 (a) or (b1.13(a)(i), the Agent or such BankLender, as the case may be, shall use reasonable efforts to obtain such credit, deduction or other reduction and, upon receipt thereof, will pay to the Borrower such amount, not exceeding the increased amount paid by the Borrower, as is equal to the net after-tax value to the Agent or such BankLender, in its sole opinionreasonable business judgment, of such part of such credit, deduction or other reduction as it considers to be allocable to such payment by the Borrower, having regard to all of the Agent's or such BankLender's dealings giving rise to similar credits, deductions or other reductions in relation to the same tax period and to the cost of obtaining the same; provided, however, that (i) the Agent or such BankLender, as the case may be, shall not be obligated to disclose to the Borrower any information regarding its tax affairs or computations (except that the Agent or any Lender, as the case may be, shall provide the Borrower with notice of any credits, deductions or other reductions in Taxes by reason of any payment made by the Borrower under Section 1.13(a)(i)) and (ii) nothing in this Section 1.13(c1.13(b) shall interfere with the right of the Agent or such Bank Lender to arrange its tax affairs as it deems appropriate.

Credits and Deductions. If the Agent Agent, a Swing Loan Lender or any Bank is, in its sole reasonable opinion, able to apply for any credit, deduction or other reduction in Bank Taxes by reason of any payment made by the a Borrower under Section 1.13 (a) or (b1.13(a)(i), the Agent Agent, such Swing Loan Lender or such Bank, as the case may be, shall use reasonable efforts to obtain such credit, deduction or other reduction and, upon receipt thereofthereof (including receipt of any such credit, deduction or other reduction that shall not actually have been applied for by such Person), will pay to the such Borrower such amount, not exceeding the increased amount paid by the such Borrower, as is equal to the net after-tax value to the Agent Agent, such Swing Loan Lender or such Bank, in its sole opinion, of such part of such credit, deduction or other reduction as it considers to be allocable to such payment by the such Borrower, having regard to all of the Agent's, such Swing Loan Lender's or such Bank's dealings giving rise to similar credits, deductions or other reductions in relation to the same tax period and to the cost of obtaining the same; provided, however, that (i) the Agent Agent, such Swing Loan Lender or such Bank, as the case may be, shall not be obligated to disclose to the a Borrower any information regarding its tax affairs or computations and (ii) nothing in this Section 1.13(c1.13(b) shall interfere with the right of the Agent Agent, such Swing Loan Lender or such Bank to arrange its tax affairs as it deems appropriate.