Common use of LIBOR RATE TAXES Clause in Contracts

LIBOR RATE TAXES. All payments of principal, interest, fees, costs, expenses and all other amounts payable to Borrower pursuant to the Note and this Addendum shall be made free and clear of and without reduction by reason of all present and future income, stamp and other taxes or other charges whatsoever imposed, assessed, levied or collected by any national government or any political subdivision or taxing authority thereof or any organization of which it is a member (excluding (i) any taxes imposed on or measured by the overall net income or gross receipts of Bank by any such entity, and (ii) any taxes which would have been imposed even if no provisions for Libor Loans had appeared in this Addendum) (collectively, "Libor Taxes"). If any Libor Taxes are required to be withheld from any amounts payable to Bank, Borrower shall pay such additional amounts as may be necessary so as to yield to Bank a net amount equal to the total amount of the payments provided for in this Addendum or under the Note which Bank would have received if such amounts had not been subject to Libor Taxes. If any Libor Taxes are payable directly by Borrower, they shall be paid by Borrower prior to the date on which penalties attach for failure to timely pay such Libor Taxes. Within forty five (45) days after the date on which payment of any such Libor Taxes is due pursuant to applicable law, Borrower will furnish Bank the original receipt for the full payment of such Libor Taxes or, if such is not available, evidence of such payment satisfactory in form and substance to Bank. Borrower shall indemnify and hold Bank harmless against, and will reimburse to Bank, upon demand, any incremental taxes, interest or penalties that may become payable by Bank as a result of any failure by Borrower to pay any Libor Taxes when due.

LIBOR RATE TAXES. All payments of principal, interest, fees, costs, expenses and all other amounts payable to by Borrower pursuant to the Note and this Addendum shall be made free and clear of and without reduction by reason of all present and future income, stamp and other taxes or other charges whatsoever imposed, assessed, levied or collected by any national government or any political subdivision or taxing authority thereof or any organization of which it is a member (excluding (i) any taxes imposed on or measured by the overall net income or gross receipts of Bank by any such entity, and (ii) any taxes which would have been imposed even if no provisions for Libor Loans had appeared in this Addendum) (collectively, "Libor Taxes"). If any Libor Taxes are required to be withheld from any amounts payable to Bank, Borrower shall pay such additional amounts as may be necessary so as to yield to Bank a net amount equal to the total amount of the payments provided for in this Addendum or under the Note which Bank would have received if such amounts had not been subject to Libor Taxes. If any Libor Taxes are payable directly by Borrower, they shall be paid by Borrower prior to the date on which penalties attach for failure to timely pay such Libor Taxes. Within forty five (45) days after the date on which payment of any such Libor Taxes is due pursuant to applicable law, Borrower will furnish Bank the original receipt for the full payment of such Libor Taxes or, if such is not available, evidence of such payment satisfactory in form and substance to Bank. Borrower shall indemnify and hold Bank harmless against, and will reimburse to Bank, upon demand, any incremental taxes, interest or penalties that may become payable by Bank as a result of any failure by Borrower to pay any Libor Taxes when due.

LIBOR RATE TAXES. All payments of principal, interest, fees, costs, expenses and all other amounts payable to Borrower pursuant to the Note and this Addendum shall be made free and clear of and without reduction by reason of all present and future income, stamp and other taxes or other charges whatsoever imposed, assessed, levied or collected by any national government or any political subdivision or taxing authority thereof or any organization of which it is a member (excluding (i) any taxes imposed on or measured by the overall net income or gross receipts of Bank by any such entity, and (ii) any taxes which would have been imposed even if no provisions for Libor Loans had appeared in this Addendum) (collectivelyAddendum)(collectively, "Libor Taxes"). If any Libor Taxes are required to be withheld from any amounts payable to Bank, Borrower shall pay such additional amounts as may be necessary so as to yield to Bank a net amount equal to the total amount of the payments provided for in this Addendum or under the Note which Bank would have received if such amounts had not been subject to Libor Taxes. If any Libor Taxes are payable directly by Borrower, they shall be paid by Borrower prior to the date on which penalties attach for failure to timely pay such Libor Taxes. Within forty five (45) days after the date on which payment of any such Libor Taxes is due pursuant to applicable law, Borrower will furnish Bank the original receipt for the full payment of such Libor Taxes or, if such is not available, evidence of such payment satisfactory in form and substance to Bank. Borrower shall indemnify and hold Bank harmless against, and will reimburse to Bank, upon demand, any incremental taxes, interest or penalties that may become payable by Bank as a result of any failure by Borrower to pay any Libor Taxes when due.

LIBOR RATE TAXES. All payments of principal, interest, fees, costs, expenses and all other amounts payable to Borrower pursuant to the Note Loan Agreement and this Addendum shall be made free and clear of and without reduction by reason of all present and future income, stamp and other taxes or other charges whatsoever imposed, assessed, levied or collected by any national government or any political subdivision or taxing authority thereof or any organization of which it is a member (excluding (i) any taxes imposed on or measured by the overall net income or gross receipts of Bank by any such entity, and (ii) any taxes which would have been imposed even if no provisions for Libor Loans had appeared in this Addendum) (collectively, "Libor Taxes"). If any Libor Taxes are required to be withheld from any amounts payable to Bank, Borrower shall pay such additional amounts as may be necessary so as to yield to Bank a net amount equal to the total amount of the payments provided for in this Addendum or under the Note Loan Agreement which Bank would have received if such amounts had not been subject to Libor Taxes. If any Libor Taxes are payable directly by Borrower, they shall be paid by Borrower prior to the date on which penalties attach for failure to timely pay such Libor Taxes. Within forty five (45) days after the date on which payment of any such Libor Taxes is due pursuant to applicable law, Borrower will furnish Bank the original receipt for the full payment of such Libor Taxes or, if such is not available, evidence of such payment satisfactory in form and substance to Bank. Borrower shall indemnify and hold Bank harmless against, and will reimburse to Bank, upon demand, any incremental taxes, interest or penalties that may become payable by Bank as a result of any failure by Borrower to pay any Libor Taxes when due.

LIBOR RATE TAXES. All payments of principal, interest, fees, costs, expenses and all other amounts payable to The Borrower pursuant agrees that: (i) Promptly upon notice from the Bank to the Note and this Addendum shall be made free and clear of and without reduction by reason of Borrower, the Borrower will pay, prior to the date on which penalties attach thereto, all present and future income, stamp and other taxes taxes, levies, or other costs and charges whatsoever imposed, assessed, levied or collected on or in respect of a Credit Advance solely as a result of the interest rate being determined by reference to the LIBOR Rate and/or the provisions of this Agreement relating to the LIBOR Rate and/or the recording, registration, notarization or other formalization of any national government thereof and/or any payments of principal, interest or other amounts made on or in respect of a Credit Advance when the interest rate is determined by reference to the LIBOR Rate (all such taxes, levies, cost and charges being herein collectively called "LIBOR Rate Taxes"); provided that LIBOR Rate Taxes shall not include taxes imposed on or measured by the net income of the Bank by the country under the laws of which the Bank is organized or any political subdivision or taxing authority thereof or any organization of which it is a member (excluding (i) any therein, or taxes imposed on or measured by the overall net income of any branch or subsidiary of the Bank (whether gross receipts of Bank or net income) by any such entity, and (ii) any taxes jurisdiction or subdivision thereof in which would have been imposed even if no provisions for Libor Loans had appeared in this Addendum) (collectively, "Libor Taxes")that branch or subsidiary is doing business. If any Libor Taxes are required to be withheld from any amounts payable to Bank, The Borrower shall also pay such additional amounts as may be necessary so equal to increases in taxes payable by the Bank, which increases are attributable to payments made by the Borrower described in the immediately preceding sentence or this sentence. Notwithstanding anything contained in this Section 2.04(h) to the contrary, in the event that the Bank shall recover any amounts in respect of LIBOR Rate Taxes as to yield which the Borrower have previously rendered payment to Bank, then Bank a net amount equal to shall reimburse the total amount of the payments provided Borrower in full for in this Addendum or under the Note which Bank would have received if such amounts had not been subject to Libor Taxesamounts. If any Libor Taxes are payable directly by Borrower, they shall be paid by Borrower prior to the date on which penalties attach for failure to timely pay such Libor Taxes. Within forty five (45) days Promptly after the date on which payment of any such Libor Taxes LIBOR Rate Tax is due pursuant to applicable law, the Borrower will at the request of the Bank, furnish to Bank the original receipt for the full payment of such Libor Taxes orevidence, if such is not available, evidence of such payment satisfactory in form and substance satisfactory to Bank. , that the Borrower shall have met its obligation under this Section 2.05(h); and (ii) The Borrower will indemnify and hold the Bank harmless against, and will reimburse to Bank, upon demandthe Bank on demand for, any incremental taxes, interest LIBOR Rate Taxes as determined by the Bank in its good faith discretion. The Bank shall provide the Borrower with appropriate receipts for any payments or penalties that may become payable reimbursements made by Bank as a result of any failure by the Borrower pursuant to pay any Libor Taxes when duethis clause (ii).