Deduction from Amounts Payable by the Agents Clause Samples
The "Deduction from Amounts Payable by the Agents" clause allows the party responsible for making payments (the agents) to subtract certain amounts from what they owe before making payment. In practice, this may include deductions for taxes, fees, or other specified obligations that the agents are required to withhold by law or under the contract. This clause ensures that the agents comply with legal or contractual requirements and helps prevent disputes by clarifying when and how deductions can be made from payments.
Deduction from Amounts Payable by the Agents. If any amount is due and payable by any party to the Facility Agent, the US Paying Agent or the Administrative Agent under any Finance Document the Facility Agent, the US Paying Agent or the Administrative Agent, as the case may be, may, after giving notice to that party, deduct an amount not exceeding that amount from any payment to that party which the Facility Agent, the US Paying Agent or the Administrative Agent would otherwise be obliged to make under the Finance Documents and apply the amount deducted in or towards satisfaction of the amount owed. For the purposes of the Finance Documents that party shall be regarded as having received such payment without any such deduction.
Deduction from Amounts Payable by the Agents. If any Party owes an amount to an Agent under the Finance Documents such Agent may, after giving notice to that Party, deduct an amount not exceeding that amount from any payment to that Party which such Agent would otherwise be obliged to make under the Finance Documents and apply the amount deducted in or towards satisfaction of the amount owed. For the purposes of the Finance Documents that Party shall be regarded as having received any amount so deducted.
Deduction from Amounts Payable by the Agents. If any party owes an amount to a Financing Agent under the Senior Finance Documents, the Agent may, after giving notice to that party, deduct an amount not exceeding that amount from any payment to that party which the Financing Agent would otherwise be obliged to make under the Senior Finance Documents and apply the amount deducted in or towards satisfaction of the amount owed. For the purposes of the Senior Finance Documents, that party shall be regarded as having received any amount so deducted.
Deduction from Amounts Payable by the Agents. If any amount is due and payable by any party to the Facility Agent or the US Paying Agent under any Finance Document the Facility Agent or the US Paying Agent may, after giving notice to that party, deduct an amount not exceeding that amount from any payment to that party which the Facility Agent or the US Paying Agent would otherwise be obliged to make under the Finance Documents and apply the amount deducted in or towards satisfaction of the amount owed. For the purposes of the Finance Documents that party shall be regarded as having received such payment without any such deduction.
Deduction from Amounts Payable by the Agents. If any amount is due and payable by any party to the Facility Agent or the Administrative Agent under any Finance Document the Facility Agent or the Administrative Agent, as the case may be, may, after giving notice to that party, deduct an amount not exceeding that amount from any payment to that party which the Facility Agent or Administrative Agent would otherwise be obliged to make under the Finance Documents and apply the amount deducted in or towards satisfaction of the amount owed. For the purposes of the Finance Documents that party shall be regarded as having received such payment without any such deduction.