Grandfathered Obligations Sample Clauses

Grandfathered Obligations. For purposes of determining withholding Taxes imposed under FATCA, from and after the Closing Date, the Borrowers and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Loans as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).
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Grandfathered Obligations. From and after the Third Restatement Date, the Borrower shall indemnify the Agent, and hold it harmless from, any and all losses, claims, damages, liabilities and related expenses, including Taxes and the fees, charges and disbursements of any counsel for any of the foregoing, arising in connection with the Agent’s treating, for purposes of determining withholding Taxes imposed under FATCA, this Agreement as qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).
Grandfathered Obligations. In general, obligations that are outstanding as of January 1, 2013 and that are not (x) modified after January 1, 2013 and (y) treated as reissued for U.S. federal income tax purposes (such obligations, "Grandfathered Obligations"), will neither be treated as U.S. assets nor be subject to withholding. However, obligations that are treated as equities for U.S. federal income tax purposes and certain debt obligations lacking a definitive term are not eligible for this grandfathering clause. Further, even if a Note is grandfathered for purposes of imposing withholding on such Note, the Holders or beneficial owners will be required to comply with the relevant Issuer's or Intermediary's requests for identifying information (and may be subject to an early redemption for any failure to comply).
Grandfathered Obligations. From and after the Second Amendment Effective Date, each Co-Borrower agrees to jointly and severally indemnify the Administrative Agent, and hold it harmless from, any and all liabilities, losses, claims, damages, costs and expenses, including Taxes and the reasonable fees, charges and disbursements of counsel for the Administrative Agent, arising in connection with the Administrative Agent’s treating, for purposes of determining withholding Taxes imposed under FATCA, the Second Amendment as qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).” Article 9 of the Credit Agreement is hereby amended to add the following Section 9.19 thereof:

Related to Grandfathered Obligations

  • Unfunded Obligation The obligations under this Agreement shall be unfunded. Benefits payable under this Agreement shall be paid from the general assets of the Company. The Company shall have no obligation to establish any fund or to set aside any assets to provide benefits under this Agreement.

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