Common use of Duties and Taxes Clause in Contracts

Duties and Taxes. Applicant will promptly, in any case before any penalty becomes payable, pay any stamp, documentary, registration or similar tax payable in connection with the entry into, performance, enforcement or admissibility in evidence of the Credit, this Agreement, any other document related to this Agreement and/or any such amendment or waiver of this Agreement and shall indemnify Citibank against any liability with respect to or resulting from any delay in paying or omitting to pay any such tax payable. If any value added tax, goods and services tax, consumption tax or any other tax of a similar nature (“Indirect Tax”) is chargeable in connection with the Credit or this Agreement, Applicant shall pay to Citibank (in addition to and at the same time as paying the consideration) an amount equal to the amount of the Indirect Tax.

Duties and Taxes. Applicant will promptly, in any case before any penalty becomes payable, pay any stamp, documentary, registration or similar tax payable in connection with the entry into, performance, enforcement or admissibility in evidence of the Creditdraft(s), this Agreement, any other document related to this Agreement and/or any such amendment or waiver of this Agreement and shall indemnify Citibank against any liability with respect to or resulting from any delay in paying or omitting to pay any such tax payable. If any value added tax, goods and services tax, consumption tax or any other tax of a similar nature (“Indirect Tax”) is chargeable in connection with the Credit draft(s) or this Agreement, Applicant shall pay to Citibank (in addition to and at the same time as paying the consideration) an amount equal to the amount of the Indirect Tax.