Common use of Liability for State and Local and Other Taxes Clause in Contracts

Liability for State and Local and Other Taxes. In the event that any Series shall be separately subject to taxation by any state or local or by any foreign taxing authority, the Series shall be obligated to pay such taxes to such jurisdiction. In the event that the Series shall be required to make payments to any Federal, state or local or any foreign taxing authority in respect of any Interestholder’s allocable share of Series income, the amount of such taxes shall be considered a loan by the Series to such Interestholder, and such Interestholder shall be liable for, and shall pay to the Series, any taxes so required to be withheld and paid over by the Series within ten (10) days after the Managing Owner’s request therefor. Such Interestholder shall also be liable for (and the Managing Owner shall be entitled to redeem additional Interests of the foreign Interestholder as necessary to satisfy) interest on the amount of taxes paid over by the Series to the IRS or other taxing authority, from the date of the Managing Owner’s request for payment to the date of payment or the redemption, as the case may be, at the rate of two percent (2%) over the prime rate charged from time to time by Citibank, N.A. The amount, if any, payable by the Series to the Interestholder in respect of its Interests so redeemed, or in respect of any other actual distribution by the Series to such Interestholder, shall be reduced by any obligations owed to the Series by the Interestholder, including, without limitation, the amount of any taxes required to be paid over by the Series to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Series from any actual distribution or redemption payment to such Interestholder shall be treated as an actual distribution to such Interestholder for all purposes of this Trust Agreement.

Liability for State and Local and Other Taxes. In the event that any Series the Trust shall be separately subject to taxation by any state or local or by any foreign taxing authority, the Series Trust shall be obligated to pay such taxes to such jurisdiction. In the event that the Series Trust shall be required to make payments to any FederalU.S. federal, state or local or any foreign taxing authority in respect of any InterestholderUnitholder’s allocable share of Series income, the amount of such taxes shall be considered a loan by the Series Trust to such InterestholderUnitholder, and such Interestholder Unitholder shall be liable for, and shall pay to the SeriesTrust, any taxes so required to be withheld and paid over by the Series Trust within ten (10) days after the Managing Owner’s request therefor. Such Interestholder Unitholder shall also be liable for (and the Managing Owner shall be entitled to redeem additional Interests Units of the foreign Interestholder Unitholder as necessary to satisfy) interest on the amount of taxes paid over by the Series Trust to the IRS or other taxing authority, from the date of the Managing Owner’s request for payment to the date of payment or the redemption, as the case may be, at the rate of [two percent (2%) over the prime rate charged from time to time by [Citibank, N.A. N.A.]] The amount, if any, payable by the Series Trust to the Interestholder Unitholder in respect of its Interests Units so redeemed, or in respect of any other actual distribution by the Series Trust to such InterestholderUnitholder, shall be reduced by any obligations owed to the Series Trust by the InterestholderUnitholder, including, without limitation, the amount of any taxes required to be paid over by the Series Trust to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Series Trust from any actual distribution or redemption payment to such Interestholder Unitholder shall be treated as an actual distribution to such Interestholder Unitholder for all purposes of this Trust Agreement.

Liability for State and Local and Other Taxes. In the event that the Trust or any Series shall be separately subject to taxation by any state or local or by any foreign taxing authority, the Trust or the Series shall be obligated to pay such taxes to such jurisdiction. In the event that the Trust or the Series shall be required to make payments to any Federal, state or local or any foreign taxing authority in respect of any InterestholderInterest Holder’s allocable share of Series Trust income, the amount of such taxes shall be considered a loan by the Series Trust to such InterestholderInterest Holder, and such Interestholder Interest Holder shall be liable for, and shall pay to the SeriesTrust, any taxes so required to be withheld and paid over by the Series Trust within ten (10) days after the Managing Owner’s request therefor. Such Interestholder Interest Holder shall also be liable for (and the Managing Owner shall be entitled to redeem additional Interests of the foreign Interestholder Interest Holder as necessary to satisfy) interest on the amount of taxes paid over by the Series Trust to the IRS or other taxing authority, from the date of the Managing Owner’s request for payment to the date of payment or the redemption, as the case may be, at the rate of two percent (2%) over the prime rate charged from time to time by Citibank, N.A. U.S. Bank National Association. The amount, if any, payable by the Series Trust to the Interestholder Interest Holder in respect of its Interests so redeemed, or in respect of any other actual distribution by the Series Trust to such InterestholderInterest Holder, shall be reduced by any obligations owed to the Series Trust by the InterestholderInterest Holder, including, without limitation, the amount of any taxes required to be paid over by the Series Trust to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Series Trust from any actual distribution or redemption payment to such Interestholder Interest Holder shall be treated as an actual distribution to such Interestholder Interest Holder for all purposes of this Trust Agreement.

Liability for State and Local and Other Taxes. In the event that any Series shall be separately subject to taxation by any state or local or by any foreign taxing authority, the Series shall be obligated to pay such taxes to such jurisdiction. In the event that the Series shall be required to make payments to any Federal, state or local or any foreign taxing authority in respect of any Interestholder’s 's allocable share of Series income, the amount of such taxes shall be considered a loan by the Series to such Interestholder, and such Interestholder shall be liable for, and shall pay to the Series, any taxes so required to be withheld and paid over by the Series within ten (10) days after the Managing Owner’s 's request therefor. Such Interestholder shall also be liable for (and the Managing Owner shall be entitled to redeem additional Interests of the foreign Interestholder as necessary to satisfy) interest on the amount of taxes paid over by the Series to the IRS or other taxing authority, from the date of the Managing Owner’s 's request for payment to the date of payment or the redemption, as the case may be, at the rate of two percent (2%) over the prime rate charged from time to time by Citibank, N.A. The amount, if any, payable by the Series to the Interestholder in respect of its Interests so redeemed, or in respect of any other actual distribution by the Series to such Interestholder, shall be reduced by any obligations owed to the Series by the Interestholder, including, without limitation, the amount of any taxes required to be paid over by the Series to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Series from any actual distribution or redemption payment to such Interestholder shall be treated as an actual distribution to such Interestholder for all purposes of this Trust Agreement.

Liability for State and Local and Other Taxes. In the event that any Series the Trust shall be separately subject to taxation by any state or local or by any foreign taxing authority, the Series Trust shall be obligated to pay such taxes to such jurisdiction. In the event that the Series Trust shall be required to make payments to any Federal, state or local or any foreign taxing authority in respect of any Interestholder’s allocable share of Series Trust income, the amount of such taxes shall be considered a loan by the Series Trust to such Interestholder, and such Interestholder shall be liable for, and shall pay to the SeriesTrust, any taxes so required to be withheld and paid over by the Series Trust within ten (10) days after the Managing Owner’s request therefor. Such Interestholder shall also be liable for (and the Managing Owner shall be entitled to redeem additional Interests of the foreign Interestholder as necessary to satisfy) interest on the amount of taxes paid over by the Series Trust to the IRS or other taxing authority, from the date of the Managing Owner’s request for payment to the date of payment or the redemption, as the case may be, at the rate of two percent (2%) over the prime rate charged from time to time by Citibank, N.A. The amount, if any, payable by the Series Trust to the Interestholder in respect of its Interests so redeemed, or in respect of any other actual distribution by the Series Trust to such Interestholder, shall be reduced by any obligations owed to the Series Trust by the Interestholder, including, without limitation, the amount of any taxes required to be paid over by the Series Trust to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Series Trust from any actual distribution or redemption payment to such Interestholder shall be treated as an actual distribution to such Interestholder for all purposes of this Trust Agreement.

Liability for State and Local and Other Taxes. In the event that any the Trust or a Series shall be separately subject to taxation by any state or local taxing authority or by any foreign taxing authority, the Trust or a Series shall be obligated to pay such taxes to such jurisdiction. In the event that the Trust or a Series shall be required to make payments to any Federal, state or local or any foreign taxing authority in respect of any Interestholder’s Interest Holders allocable share of Series incomeincome of a Series, the amount of such taxes shall be considered a loan by the Series to such InterestholderInterest Holder, and such Interestholder Interest Holder shall be liable for, for and shall pay to the SeriesSeries (and the Manager shall be entitled to redeem Interests of the Interest Holder as necessary to satisfy), any taxes so required to be withheld and paid over by the Trust or Series within ten (10) days after the Managing Owner’s Managers request therefortherefore. Such Interestholder Interest Holder shall also be liable for (and the Managing Owner Manager shall be entitled to redeem additional Interests of the foreign Interestholder Interest Holder as necessary to satisfy) interest on the amount of taxes paid over by the Series to the IRS or other taxing authority, from the date of the Managing Owner’s request for payment to the date of payment or the redemption, as the case may be, at the rate of two percent (2%) over the prime rate charged from time to time by Citibank, N.A. the A. The amount, if any, payable by the Series to the Interestholder Interest Holder in respect of its his Interests so redeemed, or in respect of any other actual distribution by the Series to such InterestholderInterest Holder, shall be reduced by any obligations owed to the Series by the InterestholderInterest Holder, including, without limitation, the amount of any taxes required to be paid over by the Series to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Series from any actual distribution or redemption payment to such Interestholder Interest Holder shall be treated as an actual distribution to such Interestholder Interest Holder for all purposes of this Trust Agreement.

Liability for State and Local and Other Taxes. In the event that the Trust or any Series Fund shall be separately subject to taxation by any state or local or by any foreign taxing authority, the Series Trust or such Fund shall be obligated to pay such taxes to such jurisdiction. In the event that the Series Trust or any Fund shall be required to make payments to any FederalU.S. federal, state or local or any foreign taxing authority in respect of any InterestholderUnitholder’s allocable share of Series income, the amount of such taxes shall be considered a loan by the Series Trust or such Fund to such InterestholderUnitholder, and such Interestholder Unitholder shall be liable for, and shall pay to the SeriesTrust or such Fund, any taxes so required to be withheld and paid over by the Series Trust or such Fund within ten (10) days after the Managing Owner’s request therefor. Such Interestholder Unitholder shall also be liable for (and the Managing Owner shall be entitled to redeem additional Interests Units of the foreign Interestholder Unitholder as necessary to satisfy) interest on the amount of taxes paid over by the Series Trust or the Fund to the IRS or other taxing authority, from the date of the Managing Owner’s request for payment to the date of payment or the redemption, as the case may be, at the rate of two percent (2%) over the prime rate charged from time to time by Citibank, N.A. The amount, if any, payable by the Series Trust or a Fund to the Interestholder Unitholder in respect of its Interests Units so redeemed, or in respect of any other actual distribution by the Series Trust or any Fund to such InterestholderUnitholder, shall be reduced by any obligations owed to the Series Trust or any Fund by the InterestholderUnitholder, including, without limitation, the amount of any taxes required to be paid over by the Series Trust or any Fund to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Series Trust or any Fund from any actual distribution or redemption payment to such Interestholder Unitholder shall be treated as an actual distribution to such Interestholder Unitholder for all purposes of this Trust Agreement.

Liability for State and Local and Other Taxes. In the event that any Series the Trust shall be separately subject to taxation by any state or local or by any foreign taxing authority, the Series Trust shall be obligated to pay such taxes to such jurisdiction. In the event that the Series Trust shall be required to make payments to any FederalU.S. federal, state or local or any foreign taxing authority in respect of any InterestholderUnitholder’s allocable share of Series income, the amount of such taxes shall be considered a loan by the Series Trust to such InterestholderUnitholder, and such Interestholder Unitholder shall be liable for, and shall pay to the SeriesTrust, any taxes so required to be withheld and paid over by the Series Trust within ten (10) days after the Managing Owner’s request therefor. Such Interestholder Unitholder shall also be liable for (and the Managing Owner shall be entitled to redeem additional Interests Units of the foreign Interestholder Unitholder as necessary to satisfy) interest on the amount of taxes paid over by the Series Trust to the IRS or other taxing authority, from the date of the Managing Owner’s request for payment to the date of payment or the redemption, as the case may be, at the rate of two percent (2%) over the prime rate charged from time to time by Citibank, N.A. The amount, if any, payable by the Series Trust to the Interestholder Unitholder in respect of its Interests Units so redeemed, or in respect of any other actual distribution by the Series Trust to such InterestholderUnitholder, shall be reduced by any obligations owed to the Series Trust by the InterestholderUnitholder, including, without limitation, the amount of any taxes required to be paid over by the Series Trust to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Series Trust from any actual distribution or redemption payment to such Interestholder Unitholder shall be treated as an actual distribution to such Interestholder Unitholder for all purposes of this Trust Agreement.

Liability for State and Local and Other Taxes. In the event that any Series the Master Fund shall be separately subject to taxation by any state or local or by any foreign taxing authority, the Series Master Fund shall be obligated to pay such taxes to such jurisdiction. In the event that the Series Master Fund shall be required to make payments to any FederalU.S. federal, state or local or any foreign taxing authority in respect of any InterestholderShareholder’s allocable share of Series income, the amount of such taxes shall be considered a loan by the Series Master Fund to such InterestholderShareholder, and such Interestholder Shareholder shall be liable for, and shall pay to the SeriesMaster Fund, any taxes so required to be withheld and paid over by the Series Master Fund within ten (10) days after the Managing Owner’s request therefor. Such Interestholder Shareholder shall also be liable for (and the Managing Owner shall be entitled to redeem additional Interests Shares of the foreign Interestholder Shareholder as necessary to satisfy) interest on the amount of taxes paid over by the Series Master Fund to the IRS or other taxing authority, from the date of the Managing Owner’s request for payment to the date of payment or the redemption, as the case may be, at the rate of two percent (2%) over the prime rate charged from time to time by Citibank, N.A. The amount, if any, payable by the Series Master Fund to the Interestholder Shareholder in respect of its Interests Shares so redeemed, or in respect of any other actual distribution by the Series Master Fund to such InterestholderShareholder, shall be reduced by any obligations owed to the Series Master Fund by the InterestholderShareholder, including, without limitation, the amount of any taxes required to be paid over by the Series Master Fund to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Series Master Fund from any actual distribution or redemption payment to such Interestholder Shareholder shall be treated as an actual distribution to such Interestholder Shareholder for all purposes of this Trust Agreement.

Liability for State and Local and Other Taxes. In the event that any the Trust or a Series shall be separately subject to taxation by any state or local taxing authority or by any foreign taxing authority, the Trust or a Series shall be obligated to pay such taxes to such jurisdiction. In the event that the Trust or a Series shall be required to make payments to any Federal, state or local or any foreign taxing authority in respect of any InterestholderInterest Holder’s allocable share of Series incomeincome of a Series, the amount of such taxes shall be considered a loan by the Series to such InterestholderInterest Holder, and such Interestholder Interest Holder shall be liable for, for and shall pay to the SeriesSeries (and the Manager shall be entitled to redeem Interests of the Interest Holder as necessary to satisfy), any taxes so required to be withheld and paid over by the Trust or Series within ten (10) days after the Managing OwnerManager’s request therefor. Such Interestholder Interest Holder shall also be liable for (and the Managing Owner Manager shall be entitled to redeem additional Interests of the foreign Interestholder Interest Holder as necessary to satisfy) interest on the amount of taxes paid over by the Trust or Series to the IRS or other taxing authority, from the date of the Managing OwnerManager’s request for payment to the date of payment or the redemption, as the case may be, at the rate of two percent (2%) over the prime rate charged from time to time by Citibank, N.A. The amount, if any, payable by the Series to the Interestholder Interest Holder in respect of its his Interests so redeemed, or in respect of any other actual distribution by the Series to such InterestholderInterest Holder, shall be reduced by any obligations owed to the Series by the InterestholderInterest Holder, including, without limitation, the amount of any taxes required to be paid over by the Series to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Series from any actual distribution or redemption payment to such Interestholder Interest Holder shall be treated as an actual distribution to such Interestholder Interest Holder for all purposes of this Trust Agreement.