Common use of Immunities from Taxation Clause in Contracts

Immunities from Taxation. (a) The Association, its assets, property, income and its operations and transactions authorized by this Agreement, shall be immune from all taxation and from all customs duties. The Association shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association to Executive Directors, Alternates, officials or employees of the Association who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association (including any dividend or interest thereon) by whomsoever held (i) which discriminates against such obligation or security solely because it is issued by the Association; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the Association. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association (including any dividend or interest thereon) by whomsoever held (i) which discriminates against such obligation or security solely because it is guaranteed by the Association; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the Association.

Immunities from Taxation. (a) The AssociationBank, its assets, property, income and its operations and transactions authorized by this Agreement, shall be immune from all taxation and from all customs duties. The Association Bank shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Bank to Executive Directorsexecutive directors, Alternatesalternates, officials or employees of the Association Bank who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Bank (including any dividend or interest thereon) by whomsoever heldheld- (i) which discriminates against such obligation or security solely because it is issued by the AssociationBank; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationBank. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association Bank (including any dividend or interest thereon) by whomsoever heldheld- (i) which discriminates against such obligation or security solely because it is guaranteed by the AssociationBank; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationBank.

Immunities from Taxation. (a) The AssociationCorporation, its property, other assets, propertyincome, income and its the operations and transactions authorized by transac- tions it carries out pursuant to this Agreement, shall be immune from all taxation and from all customs duties. The Association Corporation shall also be immune from liability for any obligation relating to the pay- ment, withholding or collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Corporation to Executive Directors, Alternates, officials or employees of the Association Corporation who are not local citizens, local subjects, citizens or other local nationals. (c) No taxation tax of any kind shall be levied on any obligation or security issued by the Association (Corporation, including any dividend or interest thereon) , by whomsoever held: (i) which discriminates against such obligation or security solely because it is issued by the AssociationCorporation; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationCorporation. (d) No taxation tax of any kind shall be levied on any obligation or security guaranteed by the Association (Corporation, including any dividend or interest thereon) , by whomsoever held: (i) which discriminates against such obligation or security solely because it is guaranteed by the AssociationCorporation; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationCorporation.

Immunities from Taxation. (a) The AssociationCorporation, its assets, property, income and its operations and transactions authorized by this Agreement, shall be immune from all taxation and from all customs duties. The Association Corporation shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Corporation to Executive Directors, Alternates, officials or employees of the Association Corporation who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Corporation (including any dividend or interest thereon) by whomsoever held: (i) which discriminates against such obligation or security solely because it is issued by the AssociationCorporation; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationCorporation. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association Corporation (including any dividend or interest thereon) by whomsoever held: (i) which discriminates against such obligation or security solely because it is guaranteed by the AssociationCorporation; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationCorporation.

Immunities from Taxation. (a) The AssociationBank, its assets, property, income and its operations and transactions authorized by this Agreement, shall be immune from all taxation and from all customs duties. The Association Bank shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Bank to Executive Directorsexecutive directors, Alternatesalternates, officials or employees of the Association Bank who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Bank (including any dividend or interest thereon) by whomsoever held: (i) which discriminates against such obligation or security solely because it is issued by the AssociationBank; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationBank. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association Bank (including any dividend or interest thereon) by whomsoever held: (i) which discriminates against such obligation or security solely because it is guaranteed by the AssociationBank; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationBank.

Immunities from Taxation. (a) The AssociationBank, its property, other assets, propertyincome, income and its the operations and transactions authorized by it carries out pursuant to this Agreement, Chapter shall be immune from all taxation and from all customs duties. The Association Bank shall also be immune from liability for any obligation relating to the payment, withholding or collection or payment of any tax or customs duty. (b) No tax shall be levied on or in respect of any salaries and or emoluments paid by the Association Bank to Executive Directorsdirectors, Alternates, officials officers or employees staff of the Association Bank who are not local citizens, local subjects, or other local nationalsnationals of the country where the Bank has its principal office. (c) No taxation tax of any kind shall be levied on any obligation or security issued by the Association (Bank, including any dividend or interest thereon) , by whomsoever held: (i1) which discriminates against such obligation or security solely because it is issued by the AssociationBank; or (ii2) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationBank. (d) No taxation tax of any kind shall be levied on any obligation or security guaranteed by the Association (Bank, including any dividend or interest thereon) , by whomsoever held: (i1) which discriminates against such obligation or security solely because it is guaranteed by the AssociationBank; or (ii2) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationBank.

Immunities from Taxation. (a) The AssociationBank, its property, other assets, propertyincome, income and its the operations and transactions authorized by it carries out pursuant to this Agreement, Agreement shall be immune from all taxation and from all customs duties. The Association Bank shall also be immune from liability for any obligation relating to the payment, withholding or collection or payment of any tax or customs duty. (b) No tax shall be levied on or in respect of any salaries and or emoluments paid by the Association Bank to Executive Directorsdirectors, Alternates, officials officers or employees staff of the Association Bank who are not local citizens, local subjects, or other local nationalsnationals of the country where the Bank has its principal office. (c) No taxation tax of any kind shall be levied on any obligation or security issued by the Association (Bank, including any dividend or interest thereon) , by whomsoever held: (i1) which discriminates against such obligation or security solely because it is issued by the AssociationBank; or (ii2) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationBank. (d) No taxation tax of any kind shall be levied on any obligation or security guaranteed by the Association (Bank, including any dividend or interest thereon) , by whomsoever held: (i1) which discriminates against such obligation or security solely because it is guaranteed by the AssociationBank; or (ii2) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationBank.

Immunities from Taxation. (a) The Association, its assets, property, income and its operations and transactions authorized authorised by this Agreement, shall be immune from all taxation and from all customs duties. The Association shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association to Executive Directors, Alternates, officials or employees of the Association who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association (including any dividend or interest thereon) by whomsoever heldheld — (i) which discriminates against such obligation or security solely because it is issued by the Association; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the Association. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association (including any dividend or interest thereon) by whomsoever heldheld — (i) which discriminates against such obligation or security solely because it is guaranteed by the Association; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the Association.

Immunities from Taxation. (a) The AssociationBank, its assets, property, income and its operations and transactions authorized by this Agreement, shall be immune from all taxation and from all customs customs,. duties. The Association Bank shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Bank to Executive Directorsexecutive directors, Alternatesalternates, officials or employees of the Association Bank who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Bank (including any dividend or interest thereon) by whomsoever heldheld- (i) which discriminates against such obligation or security solely because it is issued by the AssociationBank; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in m which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationBank. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association Bank (including any dividend or interest thereon) by whomsoever heldheld- (i) which discriminates against such obligation or security solely because it is guaranteed by the Association; orBank; (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationBank.

Immunities from Taxation. (a) The AssociationBank, its assets, property, income and its operations and transactions authorized by this Agreement, shall be immune from all taxation and from all customs duties. The Association Bank shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Bank to Executive Directorsexecutive directors, Alternatesalternates, officials or employees of the Association Bank who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Bank (including any dividend or interest thereon) by whomsoever held (i) which discriminates against such obligation or security solely because it is issued by the AssociationBank; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationBank. (d) No taxation of any kind shall be levied on any obligation or security guaranteed guar-anteed by the Association Bank (including any dividend or interest thereon) by whomsoever held (i) which discriminates against such obligation or security solely because it is guaranteed by the AssociationBank; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationBank.

Immunities from Taxation. (a) The AssociationBank, its assets, property, income and its operations and transactions authorized by this Agreement, Agreement shall be immune from all taxation and from all customs duties. The Association Bank shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Bank to Executive Directors, Alternates, officials or employees of the Association Bank who are not local citizens, local subjects, subjects or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Bank (including any dividend or interest thereon) by whomsoever held— (i) which discriminates against such obligation or security solely because it is issued by the AssociationBank; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationBank. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association Bank (including any dividend or interest thereon) by whomsoever held— (i) which discriminates against such obligation or security solely because it is guaranteed by the AssociationBank; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationBank.

Immunities from Taxation. (a) The AssociationCorporation, its assets, property, income and its operations and transactions authorized by this Agreement, shall be immune from all taxation and from all customs duties. The Association Corporation shall also be immune from liability liabilities for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Corporation to Executive Directors, Alternates, officials or employees of the Association Corporation who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Corporation (including any dividend or interest thereon) by whomsoever heldheld : (i) which discriminates against such obligation or security solely because it is issued by the AssociationCorporation; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationCorporation. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association Corporation (including any dividend or interest thereon) by whomsoever heldheld : (i) which discriminates against such obligation or security solely because it is guaranteed by the AssociationCorporation; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationCorporation.

Immunities from Taxation. (a) The AssociationCorporation, its assets, property, income and its operations and transactions authorized authorised by this Agreement, shall be immune from all taxation and from all customs duties. The Association Corporation shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Corporation to Executive Directors, Alternates, officials or employees of the Association Corporation who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Corporation (including any dividend or interest interests thereon) by whomsoever held: (i) which discriminates against such obligation or security solely because it is issued by the AssociationCorporation; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationCorporation. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association Corporation (including any dividend or interest thereon) by whomsoever held: (i) which discriminates against such obligation or security solely because it is guaranteed by the AssociationCorporation; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationCorporation.

Immunities from Taxation. (a) The AssociationBank, its assets, property, income and its operations and transactions authorized by this Agreement, shall be immune from all taxation and from all customs duties. The Association Bank shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Bank to Executive Directorsexecutive directors, Alternatesalternates, officials or employees of the Association Bank who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Bank (including any dividend or interest thereon) by whomsoever held : (i) which discriminates against such obligation or security solely because it is issued by the AssociationBank; or or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationBank. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association Bank (including any dividend or interest thereon) by whomsoever held : (i) which discriminates against such obligation or security solely because it is guaranteed by the AssociationBank; or or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationBank.

Immunities from Taxation. (a) The AssociationCorporation, its assets, property, income and its operations and transactions authorized by this Agreement, shall be immune from all taxation and from all customs duties. The Association Corporation shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Corporation to Executive Directors, Alternates, officials or employees of the Association Corporation who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Corporation (including any dividend or interest thereon) by whomsoever held— (i) which discriminates against such obligation or security solely because it is issued by the AssociationCorporation; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationCorporation. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association Corporation (including any dividend or interest thereon) by whomsoever held— (i) which discriminates against such obligation or security solely because it is guaranteed by the AssociationCorporation ; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationCorporation.

Immunities from Taxation. (a) The AssociationBank, its assets, property, income and its operations operations, and transactions authorized authorised by this Agreement, shall be immune from all taxation and from all customs duties. The Association bank shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Bank to Executive Directors, Alternates, officials or employees of the Association Bank who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Bank (including any dividend or interest thereon) by whomsoever heldheld — (i) which discriminates against such obligation or security solely because it is issued by the AssociationBank; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationBank. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association Bank (including any dividend or interest thereon) by whomsoever heldheld — (i) which discriminates against such obligation obligations or security solely because it is guaranteed by the AssociationBank; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationBank.

Immunities from Taxation. (a) The AssociationCorporation, its assets, property, income and its operations and transactions authorized authorised by this Agreement, shall be immune from all taxation and from all customs duties. The Association Corporation shall also be immune from liability for the collection or payment of any tax or duty. (b) No tax shall be levied on or in respect of salaries and emoluments paid by the Association Corporation to Executive Directors, Alternates, officials or employees of the Association Corporation who are not local citizens, local subjects, or other local nationals. (c) No taxation of any kind shall be levied on any obligation or security issued by the Association Corporation (including any dividend or interest thereon) by whomsoever heldheld — (i) which discriminates against such obligation or security solely because it is issued by the AssociationCorporation; or (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the AssociationCorporation. (d) No taxation of any kind shall be levied on any obligation or security guaranteed by the Association Corporation (including any dividend or interest thereon) by whomsoever heldheld — (i) which discriminates against such obligation or security solely because it is guaranteed by the AssociationCorporation; or (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the AssociationCorporation.