Grossing up If at any time any law requires (or is interpreted to require) the Borrowers to make any deduction or withholding from any payment, or to change the rate or manner in which any required deduction or withholding is made, the Borrowers will promptly notify the Agent and, simultaneously with making that payment, will pay to the Agent whatever additional amount (after taking into account any additional Taxes on, or deductions or withholdings from, or restrictions or conditions on, that additional amount) is necessary to ensure that, after making the deduction or withholding, the relevant Finance Parties receive a net sum equal to the sum which they would have received had no deduction or withholding been made.
Grossing up If at any time any law requires (or is interpreted to require) a Borrower to make any deduction or withholding from any payment, other than a FATCA Deduction, or to change the rate or manner in which any required deduction or withholding is made under a Finance Documents, the Borrowers will promptly notify the Agent and, simultaneously with making that payment, will pay to the Agent whatever additional amount (after taking into account any additional Taxes on, or deductions or withholdings from, or restrictions or conditions on, that additional amount) is necessary to ensure that, after making the deduction or withholding, the relevant Finance Parties receive a net sum equal to the sum which they would have received had no deduction or withholding been made.
Grossing. UP If at any time any law requires (or is interpreted to require) the Borrower to make any deduction or withholding from any payment, or to change the rate or manner in which any required deduction or withholding is made, the Borrower will promptly notify the Agent and, simultaneously with making that payment, will pay to the Agent whatever additional amount (after taking into account any additional Taxes on, or deductions or withholdings from, or restrictions or conditions on, that additional amount) is necessary to ensure that, after making the deduction or withholding, the Agent and the Banks receive a net sum equal to the sum which they would have received had no deduction or withholding been made.
Grossing up If at any time any law requires (or is interpreted to require) the Borrower to make any deduction or withholding from any payment, or to change the rate or manner in which any required deduction or withholding is made, the Borrower will promptly notify the Paying Agent and, simultaneously with making that payment, will pay to the Paying Agent whatever additional amount (after taking into account any additional Taxes on, or deductions or withholdings from, or restrictions or conditions on, that additional amount) is necessary to ensure that, after making the deduction or withholding, the Paying Agent and the Banks and the Swap Banks receive a net sum equal to the sum which they would have received had no deduction or withholding been made.
Grossing. Should the Survey fail to achieve a 100% return by more than a small handful of Local Authorities, the Contractor must “gross” the information provided within returns so as to estimate figures for “missing” Local Authorities. Grossing has, however, not been necessary for the last 5 years when the survey response rate was 99% or 100%.
Grossing up If at any time any law requires (or is interpreted to require) the Indemnifier or the Guarantor to make any deduction or withholding from any payment, or to change the rate or manner in which any required deduction or withholding is made, the Indemnifier or the Guarantor (as the case may be) will promptly notify the Agent and, simultaneously with making that payment, will pay to the Agent whatever additional amount (after taking into account any additional Taxes on, or deductions or withholdings from, or restrictions or conditions on, that additional amount) is necessary to ensure that, after making the deduction or withholding, the Agent and the Banks receive a net sum equal to the sum which they would have received had no deduction or withholding been made.
Grossing. UP If at any time any law requires (or is interpreted to require) the Borrower or the Guarantor to make any deduction or withholding from any payment, or to change the rate or manner in which any required deduction or withholding is made, the Borrower or the Guarantor (as the case may be) will promptly notify the Agent and, simultaneously with making that payment, will pay to the Agent whatever additional amount (after taking into account any additional Taxes on, or deductions or withholdings from, or restrictions or conditions on, that additional amount) is necessary to ensure that, after making the deduction or withholding, the Agent and the Banks receive a net sum equal to the sum which they would have received had no deduction or withholding been made.
Grossing. The results of the survey shall be grossed up to provide UK totals for the relevant industrial sectors and expenditure variables, by reference to the estimated employee numbers in the sample populations in each sector. If response numbers are too low to produce reliable figures for any particular sector, they may need to be combined with other sectors as appropriate for the purposes of the grossing.
Grossing up If at any time any law requires (or is interpreted to require) the Borrower to make any deduction or withholding from any payment, or to change the rate or manner in which any required deduction or withholding is made, under a Finance Document, the Borrower will promptly notify the Agent and, simultaneously with making that payment, will pay to the Agent whatever additional amount (after taking into account any additional Taxes on, or deductions or withholdings from, or restrictions or conditions on, that additional amount) is necessary to ensure that, after making the deduction or withholding, the relevant Finance Parties receive a net sum equal to the sum which they would have received had no deduction or withholding been made. But for the avoidance of doubt this Clause 17.3 shall not apply in respect of sums due from the Borrower to the Swap Provider (as a Finance Party) under or in connection with the Master Agreement, as to which sums the relevant provisions of the Master Agreement shall apply.
Grossing. Up -----------
9.8.1 Subject to Clause 9.8.2, all sums payable to LND pursuant to or in connection with any Discounting Document shall be paid in full free and clear or all deductions or withholdings whatsoever except only as may be required by law.
9.8.2 If any deduction or withholding is required by law in respect of any payment due from a Client or a Customer to LND pursuant to or in connection with any Discounting Document each Client shall:
9.8.2.1 ensure or procure that the deduction or withholding is made and that it does not exceed the minimum legal requirement therefor;
9.8.2.2 pay, or procure the payment of, the full amount deducted or withheld to the relevant Taxation or other authority in accordance with the applicable law;
9.8.2.3 increase the payment in respect of which the deduction or withholding is required so that the net amount received by LND after the deduction or withholding (and after taking account of any further deduction which is required to be made as a consequence of the increase) shall be equal to the amount which LND would have been entitled to receive in the absence of any requirement to make any deduction or withholding; and
9.8.2.4 promptly deliver or procure the delivery to LND of receipts evidencing each deduction or withholding which has been made.
9.8.3 If LND determines, in its absolute discretion, that it has received, realised, utilised and retained a Tax benefit by reason of any deduction or withholding in respect of which a Client has made an increased payment under this Clause 9.8 LND shall, provided that it has received all amounts which are then due and payable under any Discounting Document, pay to that Client (to the extent that LND can do so without prejudicing the amount of the benefit or repayment and the right of LND to obtain any other benefit, relief or allowance which may be available to it) such amount, if any, as LND, in its absolute discretion shall determine, will leave LND in no worse position than it would have been if the deduction or withholding had not been required, provided that:
9.8.3.1 LND shall have an absolute discretion as to time at which and the order and manner in which it realises or utilises any Tax benefit and shall not be obliged to arrange its business or its Tax affairs in any particular way in order to be eligible for any credit or refund or similar benefit;
9.8.3.2 LND shall not be obliged to disclose any information regarding its business, Tax affairs or its Tax computations;...
