Common use of Failure to Provide Tax Forms and Certificates Clause in Contracts

Failure to Provide Tax Forms and Certificates. For any period with respect to which a Lender (or its Applicable Lending Office) has failed to provide the Borrower and the Administrative Agent with the appropriate form pursuant to Section 3.01(d) (unless such failure is due to a change in treaty, law or regulation occurring subsequent to the date on which a form originally was required to be provided), such Lender shall not be entitled to indemnification under Section 3.01(a) or 3.01(b) with respect to Taxes imposed by the United States; provided that should a Lender, which is otherwise exempt from withholding tax, become subject to Taxes because of its failure to deliver a form required to be delivered hereunder, the Borrower shall take such steps as such Lender shall reasonably request to assist such Lender to recover such Taxes.

Appears in 2 contracts

Samples: Credit Agreement (Worthington Industries Inc), Revolving Credit Agreement (Worthington Industries Inc)

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Failure to Provide Tax Forms and Certificates. For any period with respect to which a Lender (or its Applicable Lending Office) has failed to provide the Borrower and the Administrative Agent with the appropriate form pursuant to Section SECTION 3.01(d) (unless such failure is due to a change in treaty, law or regulation occurring subsequent to the date on which a form originally was required to be provided), such Lender shall not be entitled to indemnification under Section SECTION 3.01(a) or 3.01(b) with respect to Taxes imposed by the United States; provided PROVIDED, HOWEVER, that should a Lender, which is otherwise exempt from withholding tax, become subject to Taxes because of its failure to deliver a form required to be delivered hereunder, the Borrower shall take such steps as such Lender shall reasonably request to assist such Lender to recover such Taxes.

Appears in 2 contracts

Samples: Worthington Industries Inc, Worthington Industries Inc

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