Guaranteed Return Sample Clauses

Guaranteed Return. (A) If the aggregate cash return actually received by the Holder on the Warrant Shares of the Company over the Value of the Warrant calculated based on the formula below (the “Actual Return”) under this Warrant is less than the minimum return that the Holder is guaranteed to receive up to 58 months from the Date of Drawdown, which shall be calculated based on the formula below (the “Minimum Return”), the Company shall cause the Key Founder and/or the Domestic Company to compensate the Holder in cash for the difference between the Actual Return and the Minimum Return within thirty (30) days upon the Holder’s written request, (1) Formula: Actual Return = C Minimum Return = (V×18%×N2)-(V×12%×N1) Where,
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Guaranteed Return. FUND ACCOUNTS 6 Definition of Guaranteed Return Fund (GRF) Account and GRF Account Accumulation Value. Maturity of amounts in a GRF Account. GRF Accounts Maximum. Market Value Adjustment.
Sample 1Sample 2
Guaranteed Return. In the event that by the Anniversary Date, the Holder shall not have received the minimum Guaranteed Return specified in Section 4.8 of this Note.
Sample 1Sample 2
Guaranteed Return. A. JNA hereby warrants by way of financial accom- modation to the Debtors that, in consideration of the right to act as agent for the Debtors in the sale of the Merchandise, JNA, regardless of the Proceeds realized therefrom shall guarantee to the Debtors that the Debtors shall receive an aggregate amount equal to twenty-two percent (22%) of the Retail Value (hereafter referred to as the "Guaranteed Return"). As security for the performance of its obligations in respect of the Guaranteed Return, JNA shall, within seventy-two (72) hours after entry of the Approval Order provide to the Debtors an irrevocable, absolute, standby letter of credit issued by Xxxxx Fargo Bank, N.A., Chemical Bank, or another bank(s) or financial institution(s) acceptable to the Debtors (the "Issuing Bank") in an aggregate amount equal to the product of (a) twenty-two percent (22%) and (b) of the sum of (i) the aggregate Gross Rings from the Stores during the period from the Sale Commencement Date to the date of the entry of the Approval Order and (ii) eighty percent (80%) of the book value of the Merchandise remaining on hand on the date of entry of the Approval Order. Within twenty- four (24) hours after completion and receipt of a final certification of the Inventory, JNA shall cause the aggregate amount of such letter of credit to be amended so that it then equals the Guaranteed Return, less 67% of the Proceeds realized from the Sale from the Sale Commencement Date to the date immediately preceding the amendment of the letter of credit. In either case the letter of credit shall: (1) be presentable on or after April 20, 1996; (2)expire if not presented on or before May 31, 1996; (3)be presentable only at an office of the Issuing Bank in St. Louis, Missouri or New York, New York; (4)be subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500 and governed and construed under the laws of the State of New York or California;
Sample 1
Guaranteed Return. In the event that Merchant elects the ----------------- option set forth in Section 15.1 above, but does not provide Agent with the written request within the time period specified in Section 15.1 above, following Agent's full inspection of the FF&E (whether located in the Stores, stockrooms, Warehouses or offices or otherwise), Agent will provide Merchant, with a written offer to sell the FF&E with a guaranteed return to Merchant specified therein.
Sample 1
Guaranteed Return. (a) The Purchaser shall be entitled ------------------ to receive, and the Seller hereby guarantees that the Purchaser shall receive, from the Collections on the Purchased Receivables, the Guaranteed Return. On a monthly or, at Purchaser's option, more frequent basis, Purchaser shall issue to the Seller, on the first Business Day of each month during the Facility Period, a monthly invoice setting forth the Investment Return due and payable for the preceding month with respect to the Outstanding Receivable Investment, which shall be deducted from the amounts in the Receivable Collection Account. The Seller's Residual Receivable Interests in the Purchased Receivables, evidenced by the Residual Ownership Certificate, shall be subordinate to the Purchaser's rights to receive the Guaranteed Return on the Purchased Receivables. The Seller's Residual Ownership Interest along with certain of the Seller's other tangible and intangible assets (including, but not limited to, Seller's unsold Receivables) shall serve as collateral security for the Purchaser's receipt of the Guaranteed Return and Seller's substitution and repurchase obligations as set forth in Section 4.1 hereof. On the Effective Date, the Seller shall deliver the Residual Ownership Certificate and the Assignment of the Seller's Residual Ownership Interest in the Purchased Receivables and of all of the Seller's rights, title and interest in and to the other Receivables. In addition, on the Effective Date, the Seller shall deliver to the Purchaser a UCC-1 financing statement, substantially in the form of Exhibit D hereto, evidencing the Seller's security interest in and pledge of the Residual Ownership Certificate, the Residual Ownership Interest, the other unsold Receivables and the other Collateral (as defined in Section 4.3 hereof) to the Purchaser as collateral security for the unpaid portion of the Guaranteed Return and the Seller's substitution and repurchase and indemnity obligations hereunder. The Seller shall be entitled to the return of the Residual Ownership Certificate and the reassignment of the Seller's Residual Receivable Interest in the Purchased Receivables and the other Receivables and the release of the Purchaser's security interest in and lien on the other Collateral upon the later of: (i) the Termination Date; or (ii) the date the Purchaser has received its Guaranteed Return (or the unpaid portion thereof) and its Outstanding Receivable Investment has been reduced to zero. (b) Upon a...
Sample 1
Guaranteed Return. (a) If after the completion of an IPO, the Internal Rate of Return (“IRR”) of the Holder exercising the Conversion Rights (the “Exercising Holder”) over the Unpaid Amount that the Exercising Holder has elected to be converted into the Ordinary Shares of the Payor (“Elected Amount”, which does not include the Non-conversion Amount) upon the occurrence of Exit is below 25%, Key Founder shall compensate the Exercising Holder in cash until and only to the extent that the aggregate proceeds received by Exercising Holder upon the occurrence of Exit (including the proceeds received by Exercising Holder by sale of the equity interests in the Payor held by the Exercising Holder in the market) reach the less of (i) an amount reflecting an IRR of 25% over the Elected Amount as of the occurrence of Exit; or (ii) 3.052 times the Elected Amount, provided however that in the event (i) after the expiration of any lock-up period applicable to the shares or equity security held by the Holder, the daily volume weighted average trading price per share (or in the event of any shares represented by ADSs or ADRs, the per share price derived by dividing the price of such ADSs or ADRs by the number of shares that such ADSs or ADRs represent) that the Holder holds in the Payor is not less than the per share price calculated pursuant to the formula below (such price, the “Qualified Stock Price”) for thirty (30) consecutive trading days of the Company on each and any of such day, and (ii) the daily turnover rate of the Company’s shares during such consecutive thirty (30) trading days is above 5‰ on each and any of such day, then neither the Key Founder nor his Holding Company shall have any payment obligation with respect to such guaranteed return under this Clause 12: Where, For the avoidance of doubt, daily turnover rate shall be calculated pursuant to the following formula: (l) Section 12(c) of the Schedule B to the Note shall be deleted in its entirety and replaced by the following:
Sample 1
AutoNDA by SimpleDocs
Guaranteed Return. Pursuant to the MOA, it is proposed that the Company will be entitled to the Guaranteed Return provided by CMA CGM which will be determined in accordance with terms of the MOA and further set out in the Formal Agreements.
Sample 1
Guaranteed Return. 5.1 The Vendor hereby agrees and undertakes to, as from the date of Completion of the Share Purchase Agreement to the end of the three (3) calendar years thereafter (i.e. [14] September 2007), guarantee and procure a return at the annual rate of 14.5% on the amount of the Purchase Consideration, being a sum of US$2,734,963 for each such calendar year. 5.2 The guaranteed return under clause 5.1 above shall be paid by the Vendor to the Purchaser on a half-yearly basis with a sum of HK$1,367,481.50 ("HALF-YEARLY GUARANTEED RETURN") payable at the end of each six (6) month period from the date of Completion of the Agreement (i.e. on [14] March and [14] September of each year) in immediately available funds by depositing such amount to a bank account to be designated by the Purchaser from time to time, until and unless any of the Options is exercised and completed, in which case clause 5.4 below will apply. 5.3 In the event that the Vendor fails to pay any of the Half-yearly Guaranteed Return due at the end of any such six (6) month period in accordance with clause 5.1 above, the number of Option Shares shall be reduced by 529,827 shares upon each time of such failure (and if such Half-yearly Guaranteed Return is paid only in part, the number of Option Shares shall be reduced on a basis pro rata to the ratio of the unpaid amount as against the amount of the Half-yearly Guaranteed Return). 5.4 In the event that completion of an exercise of an Option has taken place in accordance with Clause 4, the Half-yearly Guaranteed Return shall cease to accrue from the date of such Option Date on which completion takes place and the Half-yearly Guaranteed Return shall be calculated on a pro rata basis (based on the days elapsed until such Option Date and on a 365 day year basis). Such pro rata amount of the Half-yearly Guaranteed Return shall be payable by the Vendor to the Purchaser simultaneously with completion of the exercise of the relevant Option in a manner to be specified by the Purchaser.
Sample 1

Related to Guaranteed Return

  • Amended Returns Any amended Tax Return or claim for Tax refund, credit or offset with respect to any member of the Mtron Group may be made only by the Company (or its Affiliates) responsible for preparing the original Tax Return with respect to such member pursuant to Sections 3.1 or 3.2 (and, for the avoidance of doubt, subject to the same review and comment rights set forth in Sections 3.1 or 3.2, to the extent applicable). Such Company (or its Affiliates) shall not, without the prior written consent of the other Company (which consent shall not be unreasonably withheld or delayed), file, or cause to be filed, any such amended Tax Return or claim for Tax refund, credit or offset to the extent that such filing, if accepted, is likely to increase the Taxes allocated to, or the Tax indemnity obligations under this Agreement of, such other Company for any Tax Year (or portion thereof); provided, however, that such consent need not be obtained if the Company filing the amended Tax Return by written notice to the other Company agrees to indemnify the other Company for the incremental Taxes allocated to, or the incremental Tax indemnity obligation resulting under this Agreement to, such other Company as a result of the filing of such amended Tax Return.

  • Increased Cost and Reduced Return (a) If on or after (x) the date hereof, in the case of any Committed Loan or any obligation to make Committed Loans or (y) the date of the related Money Market Quote, in the case of any Money Market Loan, the adoption of any applicable law, rule or regulation, or any change in any applicable law, rule or regulation, or any change in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Bank (or its Applicable Lending Office) with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency shall impose, modify or deem applicable any reserve (including, without limitation, any such requirement imposed by the Board of Governors of the Federal Reserve System with respect to any Euro-Dollar Loan any such requirement included in an applicable Euro-Dollar Reserve Percentage), special deposit, insurance assessment or similar requirement against assets of, deposits with or for the account of, or credit extended by, any Bank (or its Applicable Lending Office) or shall impose on any Bank (or its Applicable Lending Office) or on the United States market for certificates of deposit or the London interbank market any other condition affecting its Fixed Rate Loans, its Note or its obligation to make Fixed Rate Loans and the result of any of the foregoing is to increase the cost to such Bank (or its Applicable Lending Office) of making or maintaining any Fixed Rate Loan, or to reduce the amount of any sum received or receivable by such Bank (or its Applicable Lending Office) under this Agreement or under its Note with respect thereto, by an amount deemed by such Bank to be material, then, within 15 days after demand by such Bank (with a copy to the Agent), the Company shall pay to such Bank such additional amount or amounts as will compensate such Bank for such increased cost or reduction. (b) If any Bank shall have determined that, after the date hereof, the adoption of any applicable law, rule or regulation regarding capital adequacy, or any change in any such law, rule or regulation, or any change in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or any request or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank or comparable agency, has or would have the effect of reducing the rate of return on capital of such Bank (or its Parent) as a consequence of such Bank's obligations hereunder to a level below that which such Bank (or its Parent) could have achieved but for such adoption, change, request or directive (taking into consideration its policies with respect to capital adequacy) by an amount deemed by such Bank to be material, then from time to time, within 15 days after demand by such Bank (with a copy to the Agent), the Company shall pay to such Bank such additional amount or amounts as will compensate such Bank (or its Parent) for such reduction. (c) Each Bank will promptly notify the Company and the Agent of any event of which it has knowledge, occurring after the date hereof, which will entitle such Bank to compensation pursuant to this Section and will designate a different Applicable Lending Office if such designation will avoid the need for, or reduce the amount of, such compensation and will not, in the judgment of such Bank, be otherwise disadvantageous to such Bank. A certificate of any Bank claiming compensation under this Section and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error. In determining such amount, such Bank may use any reasonable averaging and attribution methods.

  • Interest on and Return of Capital Contributions No Member shall be entitled to interest on its Capital Contribution or to return of its Capital Contribution, except as otherwise specifically provided for herein.

  • Priority and Return of Capital No Member shall have priority over any other Member, either as to the return of Capital Contributions or as to Net Profits, Net Losses or Distributions. This Section shall not apply to loans (as distinguished from Capital Contributions), which a Member has made to the Company.

  • Tax Return “Tax Return” shall mean any return (including any information return), report, statement, declaration, estimate, schedule, notice, notification, form, election, certificate or other document or information filed with or submitted to, or required to be filed with or submitted to, any Governmental Body in connection with the determination, assessment, collection or payment of any Tax or in connection with the administration, implementation or enforcement of or compliance with any Legal Requirement relating to any Tax.

  • Increased Costs and Reduced Return (a) If any Lender, any Agent or the L/C Issuer shall have determined that any Change in Law shall (i) subject such Agent, such Lender or the L/C Issuer, or any Person controlling such Agent, such Lender or the L/C Issuer to any tax, duty or other charge with respect to this Agreement or any Loan made by such Agent or such Lender or any Letter of Credit issued by the L/C Issuer, or change the basis of taxation of payments to such Agent, such Lender or the L/C Issuer or any Person controlling such Agent, such Lender or the L/C Issuer of any amounts payable hereunder (except for Indemnified Taxes and Excluded Taxes), (ii) impose, modify or deem applicable any reserve, special deposit or similar requirement against any Loan, any Letter of Credit or against assets of or held by, or deposits with or for the account of, or credit extended by, such Agent, such Lender or the L/C Issuer or any Person controlling such Agent, such Lender or the L/C Issuer or (iii) impose on such Agent, such Lender or the L/C Issuer or any Person controlling such Agent, such Lender or the L/C Issuer any other condition regarding this Agreement or any Loan or Letter of Credit, and the result of any event referred to in clauses (i), (ii) or (iii) above shall be to increase the cost to such Agent, such Lender or the L/C Issuer of making any Loan, issuing, guaranteeing or participating in any Letter of Credit, or agreeing to make any Loan or issue, guaranty or participate in any Letter of Credit, or to reduce any amount received or receivable by such Agent, such Lender or the L/C Issuer hereunder, then, upon demand by such Agent, such Lender or the L/C Issuer, the Borrowers shall pay to such Agent, such Lender or the L/C Issuer such additional amounts as will compensate such Agent, such Lender or the L/C Issuer for such increased costs or reductions in amount; provided, however, that notwithstanding anything to the contrary in this Section 2.10(a), it shall be a condition to a Lender’s or L/C Issuer’s exercise of its rights, if any, under this Section 2.10(a) that such Lender or L/C Issuer shall generally be exercising similar rights with respect to borrowers under similar agreements. (b) If any Agent, any Lender or the L/C Issuer shall have determined that any Change in Law either (i) affects or would affect the amount of capital required or expected to be maintained by such Agent, such Lender or the L/C Issuer or any Person controlling such Agent, such Lender or the L/C Issuer, and such Agent, such Lender or the L/C Issuer determines that the amount of such capital is increased as a direct or indirect consequence of any Loans made or maintained, Letters of Credit issued or any guaranty or participation with respect thereto, such Agent’s, such Lender’s or the L/C Issuer’s or such other controlling Person’s other obligations hereunder, or (ii) has or would have the effect of reducing the rate of return on such Agent’s, such Lender’s or the L/C Issuer’s such other controlling Person’s capital to a level below that which such Agent, such Lender or the L/C Issuer or such controlling Person could have achieved but for such circumstances as a consequence of any Loans made or maintained, Letters of Credit issued, or any guaranty or participation with respect thereto or any agreement to make Loans, to issue Letters of Credit or such Agent’s, such Lender’s or the L/C Issuer’s or such other controlling Person’s other obligations hereunder (in each case, taking into consideration, such Agent’s, such Lender’s or the L/C Issuer’s or such other controlling Person’s policies with respect to capital adequacy), then, upon demand by such Agent, such Lender or the L/C Issuer, the Borrowers shall pay to such Agent, such Lender or the L/C Issuer from time to time such additional amounts as will compensate such Agent, such Lender or the L/C Issuer for such cost of maintaining such increased capital or such reduction in the rate of return on such Agent’s, such Lender’s or the L/C Issuer’s or such other controlling Person’s capital; provided, however, that notwithstanding anything to the contrary in this Section 2.10(b), it shall be a condition to a Lender’s or L/C Issuer’s exercise of its rights, if any, under this Section 2.10(b) that such Lender or L/C Issuer shall generally be exercising similar rights with respect to borrowers under similar agreements. (c) All amounts payable under this Section 2.10 shall bear interest from the date that is ten (10) days after the date of demand by any Agent, any Lender or the L/C Issuer until Payment in Full to such Agent, such Lender or the L/C Issuer at the Reference Rate. A certificate of such Agent, such Lender or the L/C Issuer claiming compensation under this Section 2.10, specifying the event herein above described and the nature of such event shall be submitted by such Agent, such Lender or the L/C Issuer to the Administrative Borrower, setting forth the additional amount due and an explanation of the calculation thereof, and such Agent’s, such Lender’s or the L/C Issuer’s reasons for invoking the provisions of this Section 2.10, and shall be final and conclusive absent manifest error. (d) Failure or delay on the part of any Lender to demand compensation pursuant to the foregoing provisions of this Section 2.10 shall not constitute a waiver of such Lender’s right to demand such compensation; provided, that the Borrowers shall not be required to compensate such Agent, such Lender or the L/C Issuer pursuant to this Section 2.10 for any increased costs incurred or reductions suffered more than 180 days prior to the date that such Agent, Lender or L/C Issuer, as the case may be, notifies the Administrative Borrower of the Change in Law giving rise to such increased costs or reductions, and of such Agent’s, Lender’s or L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180 days period referred to above shall be extended to include the period of retroactive effect thereof). (e) The obligations of the Loan Parties under this Section 2.10 shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder.

  • Increased Cost and Reduced Return; Capital Adequacy (a) If any Lender reasonably determines that as a result of any Change in Law there shall be any increase in the cost to such Lender agreeing to make, making or maintaining any Loan, or a reduction in the amount received or receivable by such Lender in connection with any of the foregoing (excluding for purposes of this Section 3.03(a) any such increased costs or reduction in amount resulting from (i) Indemnified Taxes, (ii) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes or (iii) Other Connection Taxes), then from time to time within fifteen (15) days after written demand by such Lender setting forth in reasonable detail such increased costs (with a copy of such demand to the Administrative Agent given in accordance with Section 3.04), Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such increased cost or reduction. (b) If any Lender reasonably determines that the introduction of any Law regarding (i) capital adequacy or any change therein or in the interpretation thereof or (ii) liquidity requirement, or in each case any change therein or in the interpretation thereof with which such Lender (or its Applicable Lending Office) is required to comply, in each case after the date hereof, would have the effect of reducing the rate of return on the capital of such Lender, or any corporation controlling such Lender, to a level below that which such Lender, or the corporation controlling such Lender, could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of any corporation controlling such Lender with respect to capital adequacy) as a consequence of such Lender’s obligations hereunder, then from time to time upon written demand of such Lender setting forth in reasonable detail the charge and the calculation of such reduced rate of return (with a copy of such demand to the Administrative Agent given in accordance with Section 3.04), Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such reduction within fifteen (15) days after receipt of such demand. (c) Failure or delay on the part of any Lender to demand compensation pursuant to this Section 3.03 shall not constitute a waiver of such Lender’s right to demand such compensation. (d) If any Lender requests compensation under this Section 3.03, then such Lender will, if requested by Borrower, use commercially reasonable efforts to designate another Applicable Lending Office for any Loan affected by such event; provided that such efforts are made on terms that, in the reasonable judgment of such Lender, cause such Lender and its Applicable Lending Office(s) to suffer no material economic, legal or regulatory disadvantage; and provided further that nothing in this Section 3.03(d) shall affect or postpone any of the Obligations of Borrower or the rights of such Lender pursuant to Section 3.03(a), (b) or (c).

  • Graduated Return to Work Where an Employee is not receiving benefits from another source and is working less than his/her regular working hours in the course of a graduated return-to-work as the Employee recovers from an illness or injury, the Employee may use any unused sick/short term disability allocation remaining, if any, for the portion of the day where the Employee is unable to work due to illness or injury. A partial sick/short term leave day will be deducted for an absence of a partial day in the same proportion as the duration of the absence is to an employee’s regular hours. Where an employee returns on a graduated return to work from a WSIB/LTD claim, and is working less than his/her regular hours, WSIB and LTD will be used to top up the employee’s wages, as approved and if applicable. Where an employee returns on a graduated return to work from an illness which commenced in the previous fiscal year, • and is not receiving benefits from another source; • and is working less than his/her regular hours of work; • and has sick leave days and/or short-term disability days remaining from the previous year The employee can access those remaining days to top up their wages proportional to the hours not worked. Where an employee returns on a graduated return to work from an illness which commenced in the previous fiscal year, • and is not receiving benefits from another source, • and is working less than his/her regular hours of work, • and has no sick leave days and/ or short-term disability days remaining from the previous year, the employee will receive 11 days of sick leave paid at 100% of the new reduced working hours. When the employee’s hours of work increase during the graduated return to work, the employee’s sick leave will be adjusted in accordance with the new schedule. In accordance with paragraph c), the Employee will also be allocated one hundred and twenty (120) short-term disability days payable at ninety percent (90%) of regular salary proportional to the hours scheduled to work under the graduated return to work. The new pro-rated sick/short-term leave allocation may not be used to top-up from part-time to full-time hours.

  • Tax Benefit If, as the result of any Taxes paid or indemnified against by the Facility Lessee under this Section 9.2, the aggregate Taxes actually paid by the Tax Indemnitee for any taxable year and not subject to indemnification pursuant to this Section 9.2 are less (whether by reason of a deduction, credit, allocation or apportionment of income or otherwise) than the amount of such Taxes that otherwise would have been payable by such Tax Indemnitee (a "Tax Benefit"), then to the extent such Tax Benefit was not taken into account in determining the amount of indemnification payable by the Facility Lessee under paragraph (a) or (c) above and provided no Significant Lease Default or Lease Event of Default shall have occurred and be continuing (in which event the payment provided under this Section 9.2(e) shall be deferred until the Significant Lease Default or Lease Event of Default has been cured), such Tax Indemnitee shall pay to the Facility Lessee the lesser of (A) (y) the amount of such Tax Benefit, plus (z) an amount equal to any United States federal, state or local income tax benefit resulting to the Tax Indemnitee from the payment under clause (y) above and this clause (z) (determined using the same assumptions as set forth in the second sentence under the definition of After-Tax Basis) and (B) the amount of the indemnity paid pursuant to this Section 9.2 giving rise to such Tax Benefit; provided, however, that any excess of (A) over (B) shall be carried forward and reduce the Facility Lessee's obligations to make subsequent payments to such Tax Indemnitee pursuant to this Section 9.

  • Tax Liability The Authorized Participant shall be responsible for the payment of any transfer tax, sales or use tax, stamp tax, recording tax, value added tax and any other similar tax or government charge applicable to the creation or redemption of any Basket made pursuant to this Agreement, regardless of whether or not such tax or charge is imposed directly on the Authorized Participant. To the extent the Trustee, the Sponsor or the Trust is required by law to pay any such tax or charge, the Authorized Participant agrees to promptly indemnify such party for any such payment, together with any applicable penalties, additions to tax or interest thereon.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!