Grossing-up of Indemnity Provisions. Where in this Guaranteed Loan Agreement the Borrower has an obligation to indemnify or reimburse an Indemnitee in respect of any loss or payment (including, without limitation, obligations of the Borrower to make a payment to or reimburse an Indemnitee in respect of Taxes, expenses or indemnities) the amount payable shall include the amount necessary to hold such Indemnitee harmless on an After-Tax Basis (computed by taking into account the credit or deduction with respect to such loss or payment available to such Indemnitee in its reasonable determination without such Indemnitee being under any obligation to utilize any credit or deduction for any particular purpose), so as to leave such Indemnitee in the same after-tax position as it would have been in had the indemnity or reimbursement payment made to such Indemnitee not given rise to any liability for any Tax.
Grossing-up of Indemnity Provisions. Wherever in this Agreement any Borrower has an obligation to indemnify or reimburse Ex-Im Bank in respect of any loss or payment (including, without limitation, obligations of the relevant Borrower to make a payment to or reimburse Ex-Im Bank in respect of Taxes, expenses or indemnities), the amount payable shall include the amount necessary to hold Ex-Im Bank harmless on an After-Tax Basis (computed by taking into account the credit or deduction with respect to such loss or payment available to Ex-Im Bank in its reasonable determination without Ex-Im Bank being under any obligation to utilize any credit or deduction for any particular purpose), so as to leave Ex-Im Bank in the same After-Tax position as it would have been in had the indemnity or reimbursement payment made to Ex-Im Bank not given rise to any liability for any Tax. SECTION 6.
