Gross Up for Taxes. If Borrowers shall be required by Applicable Law to withhold or deduct any Taxes from or in respect of any sum payable under this Agreement or any of the other Loan Documents, (a) the sum payable to Agent or such Lender shall be increased as may be necessary so that, after making all required withholding or deductions, Agent or such Lender (as the case may be) receives an amount equal to the sum it would have received had no such withholding or deductions been made, (b) Borrowers shall make such withholding or deductions, and (c) Borrowers shall pay the full amount withheld or deducted to the relevant taxation authority or other authority in accordance with Applicable Law.
Appears in 5 contracts
Samples: Loan and Security Agreement (Integrated Electrical Services Inc), Loan and Security Agreement (Integrated Electrical Services Inc), Loan and Security Agreement (Tropical Sportswear International Corp)
Gross Up for Taxes. If Borrowers any Borrower shall be required by Applicable Law to withhold or deduct any Taxes taxes from or in respect of any sum payable under this Agreement or any of the other Loan Other Documents, (a) the sum payable to Agent or such Lender shall be increased as may be necessary so that, after making all required withholding or deductions, Agent or such Lender (as the case may be) receives an amount equal to the sum it would have received had no such withholding or deductions been made, (b) Borrowers such Borrower shall make such withholding or deductions, and (c) Borrowers such Borrower shall pay the full amount withheld or deducted to the relevant taxation authority or other authority in accordance with Applicable Law.
Appears in 4 contracts
Samples: Revolving Credit and Security Agreement (Gencor Industries Inc), Revolving Credit and Security Agreement (Lesco Inc/Oh), Revolving Credit, Term Loan and Security Agreement (Lesco Inc/Oh)
Gross Up for Taxes. If Borrowers Borrower shall be required by Applicable Law to withhold or deduct any Taxes from or in respect of any sum payable under this Agreement or any of the other Loan Documents, (a) the sum payable to Agent or such Lender shall be increased as may be necessary so that, after making all required withholding or deductions, Agent or such Lender (as the case may be) receives an amount equal to the sum it would have received had no such withholding or deductions been made, (b) Borrowers Borrower shall make such withholding or deductions, and (c) Borrowers Borrower shall pay the full amount withheld or deducted to the relevant taxation authority or other authority in accordance with Applicable Law.
Appears in 4 contracts
Samples: Financing Agreement (Emerge Interactive Inc), Loan and Security Agreement (Toms Foods Inc), Loan and Security Agreement (Metromedia International Group Inc)
Gross Up for Taxes. If Borrowers shall be required by Applicable Law to withhold or deduct any Taxes from or in respect of any sum payable under this Agreement or any of the other Loan DocumentsFinancing Agreements, (a) the sum payable to Agent Agents or such Lender shall be increased as may be necessary so that, after making all required withholding or deductions, Agent Agents or such Lender (as the case may be) receives an amount equal to the sum it would have received had no such withholding or deductions been made, (b) Borrowers shall make such withholding or deductions, and (c) Borrowers shall pay the full amount withheld or deducted to the relevant taxation authority or other authority in accordance with Applicable Law.
Appears in 1 contract
Gross Up for Taxes. If Borrowers Borrower shall be required by Applicable Law to withhold or deduct any Taxes taxes from or in respect of any sum payable under this Agreement or any of the other Loan Documents, (a) the sum payable to Agent or such Lender shall be increased as may be necessary so that, after making all required withholding or deductions, Agent or such Lender (as the case may be) receives an amount equal to the sum it would have received had no such withholding or deductions been made, (b) Borrowers Borrower shall make such withholding or deductions, and (c) Borrowers Borrower shall pay the full amount withheld or deducted to the relevant taxation authority or other authority in accordance with Applicable Law.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (Aaf McQuay Inc)
Gross Up for Taxes. If Borrowers shall be required by Applicable Law to withhold or deduct any Taxes from or in respect of any sum payable under this Agreement or any of the other Loan DIP Financing Documents, (a) the sum payable to Agent Agents or such Lender shall be increased as may be necessary so that, after making all required withholding or deductions, Agent Agents or such Lender (as the case may be) receives an amount equal to the sum it would have received had no such withholding or deductions been made, (b) Borrowers shall make such withholding or deductions, and (c) Borrowers shall pay the full amount withheld or deducted to the relevant taxation authority or other authority in accordance with Applicable Law.
Appears in 1 contract
