Common use of Indemnity and evidence of payment of taxes Clause in Contracts

Indemnity and evidence of payment of taxes. The Borrowers shall fully indemnify each Creditor Party on the Agent's demand in respect of all claims, expenses, liabilities and losses incurred by any Creditor Party by reason of any failure of the Borrowers (or any of them) to make any tax deduction or by reason of any increased payment not being made on the due date for such payment in accordance with Clause 22.2. Within 30 days after making any tax deduction, the Borrowers or, as the case may be, the relevant Borrower shall deliver to the Agent any receipts, certificates or other documentary evidence satisfactory to the Agent that the tax had been paid to the appropriate taxation authority.

Appears in 5 contracts

Samples: Loan Agreement (Paragon Shipping Inc.), Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Pyxis Tankers Inc.)

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Indemnity and evidence of payment of taxes. The Borrowers shall fully indemnify each Creditor Party on the Agent's ’s demand in respect of all claims, expenses, liabilities and losses incurred by any Creditor Party by reason of any failure of the Borrowers (or any either of them) to make any tax deduction or by reason of any increased payment not being made on the due date for such payment in accordance with Clause 22.2. Within 30 days after making any tax deduction, the Borrowers or, as the case may be, the relevant Borrower shall deliver to the Agent any receipts, certificates or other documentary evidence satisfactory to the Agent that the tax had been paid to the appropriate taxation authority.

Appears in 4 contracts

Samples: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Navios Maritime Containers L.P.), Agreement (Navios Maritime Containers Inc.)

Indemnity and evidence of payment of taxes. The Borrowers shall fully indemnify each Creditor Party on the Agent's ’s demand in respect of all claims, expenses, liabilities and losses incurred by any Creditor Party by reason of any failure of the Borrowers (or any of them) to make any tax deduction or by reason of any increased payment not being made on the due date for such payment in accordance with Clause 22.2. Within 30 days after making any tax deduction, the Borrowers or, as the case may be, the relevant Borrower shall deliver to the Agent any receipts, certificates or other documentary evidence satisfactory to the Agent that the tax had been paid to the appropriate taxation authority.

Appears in 3 contracts

Samples: Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Partners L.P.)

Indemnity and evidence of payment of taxes. The Borrowers shall fully indemnify each Creditor Party on the Agent's demand in respect of all claims, expenses, liabilities and losses incurred by any Creditor Party by reason of any failure of the Borrowers (or any either of them) to make any tax deduction or by reason of any increased payment not being made on the due date for such payment in accordance with Clause 22.2. Within 30 days after making any tax deduction, the Borrowers or, as the case may be, the relevant Borrower shall deliver to the Agent any receipts, certificates or other documentary evidence satisfactory to the Agent that the tax had been paid to the appropriate taxation authority.

Appears in 2 contracts

Samples: Loan Agreement (Castor Maritime Inc.), Loan Agreement (Star Bulk Carriers Corp.)

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Indemnity and evidence of payment of taxes. The Borrowers Borrower shall fully indemnify each Creditor Party on the Agent's demand in respect of all claims, expenses, liabilities and losses incurred by any Creditor Party by reason of any failure of the Borrowers (or any of them) Borrower to make any tax deduction or by reason of any increased payment not being made on the due date for such payment in accordance with Clause 22.222.2 (Grossing-up for taxes). Within 30 days after making any tax deduction, the Borrowers Borrower or, as the case may be, the relevant Borrower shall deliver to the Agent any receipts, certificates or other documentary evidence satisfactory to the Agent that the tax had been paid to the appropriate taxation authority.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Indemnity and evidence of payment of taxes. The Borrowers shall fully indemnify each Creditor Party on the Agent's ’s demand in respect of all claims, expenses, liabilities and losses incurred by any Creditor Party by reason of any failure of the Borrowers (or any either of them) to make any tax deduction or by reason of any increased payment not being made on the due date for such payment in accordance with Clause 22.222.2 (Grossing-up for taxes). Within 30 days after making any tax deduction, the Borrowers or, as the case may be, the relevant Borrower shall deliver to the Agent any receipts, certificates or other documentary evidence satisfactory to the Agent that the tax had been paid to the appropriate taxation authority.

Appears in 1 contract

Samples: Loan Agreement (Castor Maritime Inc.)

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