Common use of Grossing-up of Payments Clause in Contracts

Grossing-up of Payments. If a Loan Party is required by law to make any deduction or withholding on account of any Indemnified Tax or Other Tax from any sum paid or payable by a Loan Party to Administrative Agent or any Lender under any of the Loan Documents: (a) the applicable Loan Party shall notify Administrative Agent of any such requirement or any change in any such requirement as soon as the applicable Loan Party becomes aware of it; (b) the applicable Loan Party shall make such deductions or withholdings and timely pay any such amount deducted to the relevant Government Authority when such amount is due, in accordance with applicable law; (c) the sum payable by the applicable Loan Party shall be increased to the extent necessary to ensure that, after making the required deductions or withholdings (including deductions applicable to additional sums payable under this subsection 2.7B), Administrative Agent or such Lender, as the case may be, receives on the due date a net sum equal to the sum it would have received had no such deduction or withholding been required or made; and (d) within 30 days or, if not possible, as soon as reasonably practicable, after any payment of any Indemnified Tax or Other Tax, Company shall deliver to Administrative Agent the original or a certified copy of an official receipt issued by the relevant Government Authority evidencing such payment or other document reasonably satisfactory to the other affected parties to evidence the payment and its remittance to the relevant Government Authority.

Grossing-up of Payments. If a Loan Party is required by law to make any deduction or withholding on account of any Indemnified Tax or Other Tax from any sum paid or payable by a Loan Party to Administrative Agent or any Lender under any of the Loan Documents: (a) the applicable Loan Party shall notify Administrative Agent of any such requirement or any change in any such requirement as soon as the applicable Loan Party becomes aware of it; (b) the applicable Loan Party shall make such deductions or withholdings and timely pay any such amount deducted to the relevant Government Authority when such amount is due, in accordance with applicable law; (c) in the case of any Indemnified Tax or other Tax, the sum payable by the applicable Loan Party shall be increased to the extent necessary to ensure that, after making the required deductions or withholdings (including deductions applicable to additional sums payable under this subsection 2.7B), Administrative Agent or such Lender, as the case may be, receives on the due date a net sum an amount equal to the sum it would have received had no such deduction or withholding been required or made; and (d) within 30 days or, if not possible, as soon as reasonably practicable, practicable after any payment of any Indemnified Tax or Other Tax, Company shall deliver to Administrative Agent the original or a certified copy of an official receipt issued by the relevant Government Authority evidencing such payment or other document reasonably satisfactory to the other affected parties to evidence the payment and its remittance to the relevant Government Authority.

Grossing-up of Payments. If a Loan Party the Borrower or any other Person is required by law to make any deduction or withholding on account of any Indemnified Tax or Other Tax from any sum paid or payable by a Loan Party (or on account of) the Borrower to the Administrative Agent or any Lender under any of the Loan Documents: (a) the applicable Loan Party Borrower shall notify the Administrative Agent of any such requirement or any change in any such requirement as soon as the applicable Loan Party Borrower becomes aware of it; (b) the applicable Loan Party Borrower shall make such deductions or withholdings and timely pay any such amount deducted Tax to the relevant Government Authority when such amount Tax is due, in accordance with applicable law; (c) unless such Tax is an Excluded Tax, the sum payable by the applicable Loan Party Borrower shall be increased to the extent necessary to ensure that, after making the required deductions or withholdings (including deductions applicable to additional sums payable under this subsection 2.7B2.7B(ii)), the Administrative Agent or such Lender, as the case may be, receives on the due date a net sum equal to the sum it would have received had no such deduction or withholding been required or made; and (d) within 30 days or, if not possible, as soon as reasonably practicable, practical after any the due date of payment of any Indemnified Tax or Other Taxwhich it is required by clause (b) above to pay, Company the Borrower shall deliver to the Administrative Agent the original or a certified copy of an official receipt issued by the relevant Government Authority evidencing such payment or other document reasonably satisfactory to the other affected parties to evidence the payment and its remittance to the relevant Government Authority.

Grossing-up of Payments. If a Loan Party the Borrower or any other Person is required by law to make any deduction or withholding on account of any Indemnified Tax or Other Tax from any sum paid or payable by a Loan Party or on account of the Borrower to the Administrative Agent or any Lender under any of the Loan Documents: (a) the applicable Loan Party Borrower shall notify the Administrative Agent of any such requirement or any change in any such requirement as soon as the applicable Loan Party Borrower becomes aware of it; (b) the applicable Loan Party Borrower shall make such deductions or withholdings and timely pay any such amount deducted Tax to the relevant Government Authority when such amount Tax is due, in accordance with applicable law; (c) unless such Tax is an Excluded Tax, the sum payable by the applicable Loan Party Borrower shall be increased to the extent necessary to ensure that, after making the required deductions or withholdings (including deductions applicable to additional sums payable under this subsection 2.7B2.7B(ii)), the Administrative Agent or such Lender, as the case may be, receives on the due date a net sum equal to the sum it would have received had no such deduction or withholding been required or made; and (d) within 30 days or, if not possible, as soon as reasonably practicable, practical after any the due date of payment of any Indemnified Tax or Other Taxwhich it is required by clause (b) above to pay, Company the Borrower shall deliver to the Administrative Agent the original or a certified copy of an official receipt issued by the relevant Government Authority evidencing such payment or other document reasonably satisfactory to the other affected parties to evidence the payment and its remittance to the relevant Government Authority.

Grossing-up of Payments. If a Loan Party the Borrower or any other Person is required by law to make any deduction or withholding on account of any Indemnified Tax or Other Tax from any sum paid or payable by a Loan Party the Borrower to Administrative Agent or any Lender under any of the Loan Documents: (a) the applicable Loan Party Borrower shall notify Administrative Agent of any such requirement or any change in any such requirement as soon as the applicable Loan Party Borrower becomes aware of it; (b) the applicable Loan Party Borrower shall make such deductions or withholdings and timely pay any such amount deducted Tax to the relevant Government Authority when such amount Tax is due, in accordance with applicable law; (c) unless such Tax is an Excluded Tax, the sum payable by the applicable Loan Party Borrower shall be increased to the extent necessary to ensure that, after making the required deductions or withholdings (including deductions applicable to additional sums payable under this subsection 2.7B2.7B(ii)), Administrative Agent or such Lender, as the case may be, receives on the due date a net sum equal to the sum it would have received had no such deduction or withholding been required or made; and (d) within 30 days or, if not possible, as soon as reasonably practicable, after any the due date of payment of any Indemnified Tax or Other Taxwhich it is required by clause (b) above to pay, Company the Borrower shall deliver to Administrative Agent the original or a certified copy of an official receipt issued by the relevant Government Authority evidencing such payment or other document reasonably satisfactory to the other affected parties to evidence the payment and its remittance to the relevant Government Authority.

Grossing-up of Payments. If a Loan Party Holdings is required by law to make any deduction or withholding on account of any Indemnified Tax or Other Tax from any sum paid or payable by a Loan Party Holdings to Administrative Agent or any Lender under any of the Loan Documents: (a) the applicable Loan Party Holdings shall notify Administrative Agent of any such requirement or any change in any such requirement as soon as the applicable Loan Party Holdings becomes aware of it; (b) the applicable Loan Party Holdings shall make such deductions or withholdings and timely pay any such amount deducted to the relevant Government Authority when such amount is due, in accordance with applicable law; (c) in the case of any Indemnified Tax or other Tax, the sum payable by the applicable Loan Party Holdings shall be increased to the extent necessary to ensure that, after making the required deductions or withholdings (including deductions applicable to additional sums payable under this subsection 2.7B), Administrative Agent or such Lender, as the case may be, receives on the due date a net sum an amount equal to the sum it would have received had no such deduction or withholding been required or made; and (d) within 30 days or, if not possible, as soon as reasonably practicable, practicable after any payment of any Indemnified Tax or Other Tax, Company Holdings shall deliver to Administrative Agent the original or a certified copy of an official receipt issued by the relevant Government Authority evidencing such payment or other document reasonably satisfactory to the other affected parties to evidence the payment and its remittance to the relevant Government Authority.

Grossing-up of Payments. If a Loan Party the Borrower or any other Person is required by law to make any deduction or withholding on account of any Indemnified Tax or Other Tax from any sum paid or payable by a Loan Party or on account of the Borrower to the Administrative Agent or any Lender under any of the Loan Documents: (a) the applicable Loan Party Borrower shall notify the Administrative Agent of any such requirement or any change in any such requirement as soon as the applicable Loan Party Borrower becomes aware of it; (b) the applicable Loan Party Borrower shall make such deductions or withholdings and timely pay any such amount deducted Tax to the relevant Government Authority when such amount Tax is due, in accordance with applicable law; (c) unless such Tax is an Excluded Tax, the sum payable by the applicable Loan Party Borrower shall be increased to the extent necessary to ensure that, after making the required deductions or withholdings (including deductions applicable to additional sums payable under this subsection 2.7BSubsection 2.7B(ii)), the Administrative Agent or such Lender, as the case may be, receives on the due date a net sum equal to the sum it would have received had no such deduction or withholding been required or made; and (d) within 30 days or, if not possible, as soon as reasonably practicable, practical after any the due date of payment of any Indemnified Tax or Other Taxwhich it is required by clause (b) above to pay, Company the Borrower shall deliver to the Administrative Agent the original or a certified copy of an official receipt issued by the relevant Government Authority evidencing such payment or other document reasonably satisfactory to the other affected parties to evidence the payment and its remittance to the relevant Government Authority.