Common use of Foreign Lenders and Participants Clause in Contracts

Foreign Lenders and Participants. Each Lender, and each holder of a participation interest herein, that is incorporated or otherwise organized under the Laws of a jurisdiction other than the United States of America or any State thereof or the District of Columbia shall deliver to Borrower (with a copy to the Administrative Agent) on the Effective Date (or after accepting an assignment or receiving a participation interest herein pursuant to Section 11.8, if applicable) either Form W8-ECI or other Internal Revenue Service forms satisfactory to Borrower and the Administrative Agent that no withholding under the federal income tax laws is required with respect to such Person. Thereafter and from time to time, each such Person shall (a) promptly submit to Borrower (with a copy to the Administrative Agent) such additional duly completed and signed copies of one of such forms as may then be available under then current United States laws and regulations to avoid, or such evidence as is satisfactory to Borrower and the Administrative Agent of any available exemption from, United States withholding taxes in respect of all payments to be made to such Person by Borrower pursuant to this Agreement and (b) take such steps as shall not be materially disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably necessary (including the re-designation of its LIBOR Office, if any) to avoid any requirement of applicable Laws that Borrower make any deduction or withholding for taxes from amounts payable to such Person.

Appears in 3 contracts

Samples: Loan Agreement (Wheeling Island Gaming Inc), Loan Agreement (Wdra Food Service Inc), Loan Agreement (Wheeling Land Development Corp)

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Foreign Lenders and Participants. Each Lender, and each holder of a participation interest herein, that is incorporated or otherwise organized under the Laws of a jurisdiction other than the United States of America or any State state thereof or the District of Columbia shall deliver to Borrower (with a copy to the Administrative Agent) on ), within twenty days after the Effective Closing Date (or after accepting an assignment Assignment Agreement or receiving a participation interest herein pursuant to Section 11.8, if applicable) either two duly completed copies, signed by a Responsible Official, of Form W8-W-8 ECI or other Internal Revenue Service forms satisfactory to Borrower and the Administrative Agent that no withholding under the federal income tax laws is required with respect to such Person. Thereafter and from time to time, each such Person shall (a) promptly submit to Borrower (with a copy to the Administrative Agent) ), such additional duly completed and signed copies of one of such forms (or such successor forms as shall be adopted from time to time by the relevant United States taxing authorities) as may then be available under then current United States laws and regulations to avoid, or such evidence as is satisfactory to Borrower and the Administrative Agent of any available exemption from, United States withholding taxes in respect of all payments to be made to such Person by Borrower pursuant to this Agreement and (b) take such steps as shall not be materially disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably necessary (including the re-designation of its LIBOR Eurodollar Lending Office, if any) to avoid any requirement of applicable Laws laws that Borrower make any deduction or withholding for taxes from amounts payable to such Person.

Appears in 3 contracts

Samples: Term Loan Agreement (Mandalay Resort Group), Revolving Loan Agreement (Mandalay Resort Group), Term Loan Agreement (Mandalay Resort Group)

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Foreign Lenders and Participants. Each Lender, and each holder of a participation interest herein, in the Loans that is incorporated or otherwise organized under the Laws of a jurisdiction other than the United States of America or any State state thereof or the District of Columbia shall deliver to Borrower (with a copy to the Administrative Agent) on the Effective Date (or after accepting ), concurrently with its receipt of an assignment or receiving a participation interest herein pursuant to Section 11.8, if applicable) either Form W8-ECI or other all appropriate United States Internal Revenue Service forms as the Agent may require, or such other evidence satisfactory to Borrower and the Administrative Agent Agent, to establish that no withholding under the federal income tax laws is required with respect to such Person. Thereafter and from time to time, each such Person shall (a) promptly submit to Borrower (with a copy to the Administrative Agent) ), such additional duly completed and signed copies of one of such forms (or such successor forms as shall be adopted from time to time by the relevant United States taxing authorities) as may then be available under then current United States laws and regulations to avoid, or such evidence as is satisfactory to Borrower and the Administrative Agent of any available exemption from, United States withholding taxes in respect of all payments to be made to such Person by Borrower pursuant to this Agreement and (b) take such steps as shall not be materially disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably necessary (including the re-designation of its LIBOR Eurodollar Office, if any) to avoid any requirement of applicable Laws laws that Borrower make any deduction or withholding for taxes from amounts payable to such Person.

Appears in 1 contract

Samples: Loan Agreement (Meade Instruments Corp)

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