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 the Trust shall be separately subject to taxation by any state or local or by any foreign taxing authority, the Trust shall be obligated to pay such taxes to such jurisdiction. In the event that the Trust shall be required to make payments to any U.S. federal, state or local or any foreign taxing authority in respect of any Unitholder’s allocable share of income, the amount of such taxes shall be considered a loan by the Trust to such Unitholder, and such Unitholder shall be liable for, and shall pay to the Trust, any taxes so required to be withheld and paid over by the Trust within ten (10) days after the Managing Owner’s request therefor. Such Unitholder shall also be liable for (and the Managing Owner shall be entitled to redeem additional Units of the foreign Unitholder as necessary to satisfy) interest on the amount of taxes paid over by the 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 Trust to the Unitholder in respect of Units so redeemed, or in respect of any other actual distribution by the Trust to such Unitholder, shall be reduced by any obligations owed to the Trust by the Unitholder, including, without limitation, the amount of any taxes required to be paid over by the Trust to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Trust from any actual distribution or redemption payment to such Unitholder shall be treated as an actual distribution to such Unitholder for all purposes of this Trust Agreement.

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

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

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

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

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

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

Liability for State and Local and Other Taxes. In the event that 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 U.S. federal, state or local or any foreign taxing authority in respect of any UnitholderInterest Holder’s allocable share of incomeincome of a Series, the amount of such taxes shall be considered a loan by the Trust Series to such UnitholderInterest Holder, and such Unitholder Interest Holder shall be liable for, for and shall pay to the TrustSeries (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 Unitholder Interest Holder shall also be liable for (and the Managing Owner Manager shall be entitled to redeem additional Units Interests of the foreign Unitholder 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.]] N.A. The amount, if any, payable by the Trust Series to the Unitholder Interest Holder in respect of Units his Interests so redeemed, or in respect of any other actual distribution by the Trust Series to such UnitholderInterest Holder, shall be reduced by any obligations owed to the Trust Series by the UnitholderInterest Holder, including, without limitation, the amount of any taxes required to be paid over by the Trust Series to the IRS or other taxing authority and interest thereon as aforesaid. Amounts, if any, deducted by the Trust Series from any actual distribution or redemption payment to such Unitholder Interest Holder shall be treated as an actual distribution to such Unitholder Interest Holder for all purposes of this Trust Agreement.. ·