Common use of Deduction of Taxes Clause in Contracts

Deduction of Taxes. 13.10.1 It shall be the sole responsibility of the Issuer to determine whether a deduction or withholding for or on account of Taxes is required from any payment to be made in respect of the Notes and to notify each Agent of any such deduction or withholding as may be required from any such payment in accordance with the provisions of this clause 13.10. It shall be the sole responsibility of each Agent to make any such deduction or withholding notified to it by the Issuer in respect of payments made by it, and account to the relevant Authority for the Taxes so deducted. The Issuer shall notify each relevant Agent, a minimum of 5 Business Days prior to the date on which any such payment is due in respect of which any such deduction or withholding for or on account of Taxes is required by any Applicable Law, of (i) the amount of such Taxes required to be deducted or withheld and (ii) the relevant Authority to whom such Taxes should be paid. The Issuer shall provide, in so far as it is reasonably able to do so, all information requested by such Agent to enable such Agent to make such withholding or deduction in respect of Taxes, and to pay such Taxes to the relevant Authority. 13.10.2 Any payment by an Agent under this Agreement in respect of the Notes shall be made without any deduction or withholding for or on account of any Taxes unless such deduction or withholding is required by any Applicable Law. Each Agent shall deduct or withhold any Taxes required to be deducted or withheld pursuant to any Applicable Law as may be notified by the Issuer to such Agent pursuant to clause 13.10.1 and shall timely account to the relevant Authority for the full amount of such Taxes as notified by the Issuer to such Agent pursuant to clause 13.10.1 If any Agent is required to make a deduction or withholding for or on account of Taxes pursuant to any Applicable Law as referred to above, it will not pay an additional amount in respect of that deduction or withholding to the Issuer. 13.10.3 If the Issuer fails to notify any Agent of any Taxes required to be deducted or withheld from a payment to be made by it in respect of the Notes pursuant to any Applicable Law pursuant to clause 13.10.1, and such Agent is assessed to Tax by any Authority in respect of such Taxes, the Issuer shall reimburse such Agent for such amount of Tax to which it is assessed. Any payments so required to be made by the Issuer to any Agent shall in each case be made pursuant to the relevant priority of payments.

Deduction of Taxes. 13.10.1 It shall be the sole responsibility of the Issuer to determine whether a deduction or withholding for or on account of Taxes is required from any payment to be made in respect of the Notes and the Residual Certificates and to notify each Agent of any such deduction or withholding as may be required from any such payment in accordance with the provisions of this clause Clause 13.10. It shall be the sole responsibility of each Agent to make any such deduction or withholding notified to it by the Issuer in respect of payments made by it, and account to the relevant Authority for the Taxes so deducted. The Issuer shall notify each relevant Agent, a minimum of 5 Business Days prior to the date on which any such payment is due in respect of which any such deduction or withholding for or on account of Taxes is required by any Applicable Law, of of (i) the amount of such Taxes required to be deducted or withheld and (ii) the relevant Authority to whom such Taxes should be paid. The Issuer shall provide, in so far as it is reasonably able to do so, all information requested by such Agent to enable such Agent to make such withholding or deduction in respect of Taxes, and to pay such Taxes to the relevant Authority. 13.10.2 Any payment by an Agent under this Agreement in respect of the Notes and/or the Residual Certificates shall be made without any deduction or withholding for or on account of any Taxes unless such deduction or withholding is required by any Applicable Law. Each Agent shall deduct or withhold any Taxes required to be deducted or withheld pursuant to any Applicable Law as may be notified by the Issuer to such Agent pursuant to clause Clause 13.10.1 and shall timely account to the relevant Authority for the full amount of such Taxes as notified by the Issuer to such Agent pursuant to clause Clause 13.10.1 If any Agent is required to make a deduction or withholding for or on account of Taxes pursuant to any Applicable Law as referred to above, it will not pay an additional amount in respect of that deduction or withholding to the Issuer. 13.10.3 If the Issuer fails to notify any Agent of any Taxes required to be deducted or withheld from a payment to be made by it in respect of the Notes and/or the Residual Certificates pursuant to any Applicable Law pursuant to clause Clause 13.10.1, and such Agent is assessed to Tax by any Authority in respect of such Taxes, the Issuer shall reimburse such Agent for such amount of Tax to which it is assessed. Any payments so required to be made by the Issuer to any Agent shall in each case be made pursuant to the relevant priority of payments.

Deduction of Taxes. ‌ 13.10.1 It shall be the sole responsibility of the Issuer to determine whether a deduction or withholding for or on account of Taxes is required from any payment to be made in respect of the Notes and the Residual Certificates and to notify each Agent of any such deduction or withholding as may be required from any such payment in accordance with the provisions of this clause Clause 13.10. It shall be the sole responsibility of each Agent to make any such deduction or withholding notified to it by the Issuer in respect of payments made by it, and account to the relevant Authority for the Taxes so deducted. The Issuer shall notify each relevant Agent, a minimum of 5 Business Days prior to the date on which any such payment is due in respect of which any such deduction or withholding for or on account of Taxes is required by any Applicable Law, of (i) the amount of such Taxes required to be deducted or withheld and (ii) the relevant Authority to whom such Taxes should be paid. The Issuer shall provide, in so far as it is reasonably able to do so, all information requested by such Agent to enable such Agent to make such withholding or deduction in respect of Taxes, and to pay such Taxes to the relevant Authority.Authority.‌ 13.10.2 Any payment by an Agent under this Agreement in respect of the Notes and/or the Residual Certificates shall be made without any deduction or withholding for or on account of any Taxes unless such deduction or withholding is required by any Applicable Law. Each Agent shall deduct or withhold any Taxes required to be deducted or withheld pursuant to any Applicable Law as may be notified by the Issuer to such Agent pursuant to clause Clause 13.10.1 and shall timely account to the relevant Authority for the full amount of such Taxes as notified by the Issuer to such Agent pursuant to clause Clause 13.10.1 If any Agent is required to make a deduction or withholding for or on account of Taxes pursuant to any Applicable Law as referred to above, it will not pay an additional amount in respect of that deduction or withholding to the Issuer. 13.10.3 If the Issuer fails to notify any Agent of any Taxes required to be deducted or withheld from a payment to be made by it in respect of the Notes and/or the Residual Certificates pursuant to any Applicable Law pursuant to clause Clause 13.10.1, and such Agent is assessed to Tax by any Authority in respect of such Taxes, the Issuer shall reimburse such Agent for such amount of Tax to which it is assessed. Any payments so required to be made by the Issuer to any Agent shall in each case be made pursuant to the relevant priority of payments.

Deduction of Taxes. ‌ 13.10.1 It shall be the sole responsibility of the Issuer to determine whether a deduction or withholding for or on account of Taxes is required from any payment to be made in respect of the Notes and the Residual Certificates and to notify each Agent of any such deduction or withholding as may be required from any such payment in accordance with the provisions of this clause Clause 13.10. It shall be the sole responsibility of each Agent to make any such deduction or withholding notified to it by the Issuer in respect of payments made by it, and account to the relevant Authority for the Taxes so deducted. The Issuer shall notify each relevant Agent, a minimum of 5 Business Days prior to the date on which any such payment is due in respect of which any such deduction or withholding for or on account of Taxes is required by any Applicable Law, of (i) the amount of such Taxes required to be deducted or withheld and (ii) the relevant Authority to whom such Taxes should be paid. The Issuer shall provide, in so far as it is is‌ reasonably able to do so, all information requested by such Agent to enable such Agent to make such withholding or deduction in respect of Taxes, and to pay such Taxes to the relevant Authority. 13.10.2 Any payment by an Agent under this Agreement in respect of the Notes and/or the Residual Certificates shall be made without any deduction or withholding for or on account of any Taxes unless such deduction or withholding is required by any Applicable Law. Each Agent shall deduct or withhold any Taxes required to be deducted or withheld pursuant to any Applicable Law as may be notified by the Issuer to such Agent pursuant to clause Clause 13.10.1 and shall timely account to the relevant Authority for the full amount of such Taxes as notified by the Issuer to such Agent pursuant to clause Clause 13.10.1 If any Agent is required to make a deduction or withholding for or on account of Taxes pursuant to any Applicable Law as referred to above, it will not pay an additional amount in respect of that deduction or withholding to the Issuer. 13.10.3 If the Issuer fails to notify any Agent of any Taxes required to be deducted or withheld from a payment to be made by it in respect of the Notes and/or the Residual Certificates pursuant to any Applicable Law pursuant to clause Clause 13.10.1, and such Agent is assessed to Tax by any Authority in respect of such Taxes, the Issuer shall reimburse such Agent for such amount of Tax to which it is assessed. Any payments so required to be made by the Issuer to any Agent shall in each case be made pursuant to the relevant priority of payments.