Common use of Expenses and Withholding Taxes Clause in Contracts

Expenses and Withholding Taxes. (a) The Borrower agrees to pay the Lender any and all expenses or other amounts otherwise agreed to be paid by the Borrower in any provision of this Agreement or in any other Loan Document. (b) All payments made by the Borrower under this Agreement or the Note shall be made free and clear of, and without deduction or withholding for or on account of, any present or future income, stamp or other taxes, levies, imposts, duties, charges, fees, assessments, deductions or withholdings, now or hereafter imposed, levied, collected, withheld or assessed by any Governmental Authority with respect to this Agreement or any other Loan Document, and all interest, penalties or similar liabilities with respect thereto (all such taxes, levies, imposts, duties, charges, fees, assessments, deductions or withholdings being referred to collectively as “Taxes”), unless the Borrower is compelled by Law to make such deduction or withholding. If any such Taxes are required to be withheld from any amounts payable to the Lender hereunder or under the Note, the amounts so payable to the Lender shall be increased to the extent necessary to yield to the Lender (after payment of all such Taxes) principal, interest or any such other amounts payable hereunder in the amounts or at the rates the Lender would have received had no such obligation been imposed on the Borrower. In addition, the Borrower shall pay any Taxes to the relevant Governmental Authority in accordance with applicable Law, and as promptly as possible thereafter, the Borrower shall send to the Lender proof of payment thereof. If the Borrower fails to pay any such Taxes when due to the appropriate Governmental Authority or fails to remit to the Lender such proof, the Borrower shall indemnify the Lender for any incremental Taxes that may become payable by the Lender as a result of any failure to pay any such amounts.

Expenses and Withholding Taxes. (a) The Borrower agrees to pay the Lender any and all expenses or other amounts otherwise agreed to be paid by the Borrower in any provision of this Agreement or in any other Loan Document. (b) All payments made by the Borrower under this Agreement or the Note Notes shall be made free and clear of, and without deduction or withholding for or on account of, any present or future income, stamp or other taxes, levies, imposts, duties, charges, fees, assessments, deductions or withholdings, now or hereafter imposed, levied, collected, withheld or assessed by any Governmental Authority with respect to this Agreement or any other Loan Document, and all interest, penalties or similar liabilities with respect thereto (all such taxes, levies, imposts, duties, charges, fees, assessments, deductions or withholdings being referred to collectively as “Taxes”), unless the Borrower is compelled by Law to make such deduction or withholding. If any such Taxes are required to be withheld from any amounts payable to the Lender hereunder or under the NoteNotes, the amounts so payable to the Lender shall be increased to the extent necessary to yield to the Lender (after payment of all such Taxes) principal, interest or any such other amounts payable hereunder in the amounts or at the rates the Lender would have received had no such obligation been imposed on the Borrower. In addition, the Borrower shall pay any Taxes to the relevant Governmental Authority in accordance with applicable Law, and as promptly as possible thereafter, the Borrower shall send to the Lender proof of payment thereof. If the Borrower fails to pay any such Taxes when due to the appropriate Governmental Authority or fails to remit to the Lender such proof, the Borrower shall indemnify the Lender for any incremental Taxes that may become payable by the Lender as a result of any failure to pay any such amounts.