Irish Qualifying Lender Clause Samples
The 'Irish Qualifying Lender' clause defines the criteria a lender must meet to be considered a qualifying lender under Irish tax law. Typically, this involves specifying that the lender is resident in Ireland for tax purposes or otherwise meets certain regulatory or tax requirements, such as being subject to Irish corporation tax. This designation is important because it determines whether interest payments made to the lender are subject to withholding tax or benefit from exemptions. The core function of this clause is to ensure that the parties understand the tax implications of interest payments and to allocate the risk of withholding tax appropriately.
Irish Qualifying Lender. The Assignee confirms, for the benefit of the Administrative Agent and without liability to any Obligor, that it is
(a) [an Irish Qualifying Lender (other than an Irish Treaty Lender);]
(b) [an Irish Treaty Lender;]
(c) [not an Irish Qualifying Lender], as such term is defined in the Credit Agreement.