Common use of Increase for interest Clause in Contracts

Increase for interest. The Indemnity Amount shall be increased by an amount equal to interest accrued at the Interest Rate on the amount of indemnified Taxes that have actually been paid to the IRS or other applicable taxing authority by Management from the assumed date of payment of such Taxes (as provided in Section 4(b)), provided that (x) a payment of Taxes in respect of which Enbridge has advanced funds to Management pursuant to Section 5(d) shall not accrue interest and (y) such interest shall cease to accrue if the payment date of the Indemnity Amount is delayed as a result of the failure of Management to provide notice and computations to Enbridge within a reasonable time pursuant to Section 3(b).

Increase for interest. The Indemnity Amount shall be increased by an amount equal to interest accrued at the Interest Rate on the amount of indemnified Taxes that have actually been paid to the IRS or other applicable 6 <Page> taxing authority by Management from the assumed date of payment of such Taxes (as provided in Section 4(b)), provided that (x) a payment of Taxes in respect of which Enbridge has advanced funds to Management pursuant to Section 5(d) shall not accrue interest and (y) such interest shall cease to accrue if the payment date of the Indemnity Amount is delayed as a result of the failure of Management to provide notice and computations to Enbridge within a reasonable time pursuant to Section 3(b).. (3)

Increase for interest. The Indemnity Amount shall be increased by an amount equal to interest accrued at the Interest Rate on the amount of indemnified Taxes that have actually been paid to the IRS or other applicable taxing authority by Management from the assumed date of payment of such Taxes (as provided in Section 4(b5(b)), provided that (x) a payment of Taxes in respect of which Enbridge KMI has advanced funds to Management pursuant to Section 5(d7(d) shall not accrue interest and (y) such interest shall cease to accrue if the payment date of the Indemnity Amount is delayed as a result of the failure of Management to provide notice and computations to Enbridge KMI within a reasonable time pursuant to Section 3(b).

Increase for interest. The Indemnity Amount shall be increased by an amount equal to interest accrued at the Interest Rate on the amount of indemnified Taxes that have actually been paid to the IRS or other applicable taxing authority by Management from the assumed date of payment of such Taxes (as provided in Section 4(b)), provided that (x) a payment of Taxes in respect of which Enbridge KMI has advanced funds to Management pursuant to Section 5(d) shall not accrue interest and (y) such interest shall cease to accrue if the payment date of the Indemnity Amount is delayed as a result of the failure of Management to provide notice and computations to Enbridge KMI within a reasonable time pursuant to Section 3(b).