Common use of Limitation on Tax Indemnification Clause in Contracts

Limitation on Tax Indemnification. The Lessee shall not be --------------------------------- required to indemnify any Indemnitee, or to pay any increased amounts to any Indemnitee or tax authority with respect to any withholding taxes pursuant to this Section 13.5 to the extent that (i) any obligation to withhold, deduct, or ------------ pay amounts with respect to Tax existed on the date such Indemnitee became a party to any Operative Document (and, in such case, the Lessee may deduct and withhold such Tax from payments pursuant to the Operative Documents), or (ii) such Indemnitee fails to comply with the provisions of Section 13.5(g) (and, in --------------- such case, the Lessee may deduct and withhold all Taxes required by law as a result of such noncompliance from payments made by the Lessee pursuant to the Operative Documents). With respect to any transferee of any Participant (including a transfer resulting from any change in the designation of the lending office of a Participant), the transferee shall not be entitled to any greater payment or indemnification under this Section 13.5 than the transferor ------------ would have been entitled to.

Appears in 1 contract

Samples: Participation Agreement (Asyst Technologies Inc /Ca/)

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Limitation on Tax Indemnification. The Lessee shall not be --------------------------------- required to indemnify any IndemniteeIndemnified Person, or to pay any increased amounts to any Indemnitee Indemnified Person or tax authority with respect to any withholding taxes Impositions pursuant to this Section 13.5 SECTION 11.3 to the extent that (i) any obligation to withhold, deduct, or ------------ pay amounts with respect to Tax existed on the date such Indemnitee Indemnified Person became a party to any Operative Document Agreement (and, in such case, the Lessee may deduct and withhold such Tax from payments pursuant to the Operative DocumentsAgreements), or (ii) such Indemnitee Indemnified Person fails to comply with the provisions of Section 13.5(gSECTION 11.2(g) (and, in --------------- such case, the Lessee may deduct and withhold all Taxes required by law as a result of such noncompliance from payments made by the Lessee pursuant to the Operative DocumentsAgreements). With respect to any transferee of any Participant Financing Party (including a transfer resulting from any change in the designation of the lending office of a ParticipantFinancing Party), the transferee shall not be entitled to any greater payment or indemnification under this Section 13.5 SECTION 11.3 than the transferor ------------ would have been entitled to.

Appears in 1 contract

Samples: Participation Agreement (Symantec Corp)

Limitation on Tax Indemnification. The Subject to Section 13.10, the Lessee shall not be --------------------------------- required to indemnify any Indemnitee, or to pay any increased amounts to any Indemnitee or tax authority with respect to any withholding taxes Impositions pursuant to this Section 13.5 to the extent that (i) any obligation to withhold, deduct, or ------------ pay amounts with respect to Tax existed on the date such Indemnitee became a party to any Operative Document (and, in such case, the Lessee may deduct and withhold such Tax from payments pursuant to the Operative Documents), or (ii) such Indemnitee fails to comply with the provisions of Section 13.5(g) (and, in --------------- such case, the Lessee may deduct and withhold all Taxes required by law as a result of such noncompliance from payments made by the Lessee pursuant to the Operative Documents). With respect to any transferee of any Participant (including a transfer resulting from any change in the designation of the lending office of a Participant), the transferee shall not be entitled to any greater payment or indemnification under this Section 13.5 than the transferor ------------ would have been entitled to.

Appears in 1 contract

Samples: Participation Agreement (Yahoo Inc)

Limitation on Tax Indemnification. The Lessee shall not be --------------------------------- required to indemnify any Indemnitee, or to pay any increased amounts to any Indemnitee or tax authority with respect to any withholding taxes pursuant to this Section SECTION 13.5 to the extent that (i) any obligation to withhold, deduct, or ------------ pay amounts with respect to Tax existed on the date such Indemnitee became a party to any Operative Document (and, in such case, the Lessee may deduct and withhold such Tax from payments pursuant to the Operative Documents), or (ii) such Indemnitee fails to comply with the provisions of Section SECTION 13.5(g) (and, in --------------- such case, the Lessee may deduct and withhold all Taxes required by law as a result of such noncompliance from payments made by the Lessee pursuant to the Operative Documents). With respect to any transferee of any Participant (including a transfer resulting from any change in the designation of the lending office of a Participant), the transferee shall not be entitled to any greater payment or indemnification under this Section SECTION 13.5 than the transferor ------------ would have been entitled to.

Appears in 1 contract

Samples: Participation Agreement (Triquint Semiconductor Inc)

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Limitation on Tax Indemnification. The Lessee shall not be --------------------------------- required to indemnify any Indemnitee, or to pay any increased amounts to any Indemnitee or tax authority with respect to any withholding taxes Impositions pursuant to this Section 13.5 to the extent that (i) any obligation to withhold, deduct, or ------------ pay amounts with respect to Tax existed on the date such Indemnitee became a party to any Operative Document (and, in such case, the Lessee may deduct and withhold such Tax from payments pursuant to the Operative Documents), or (ii) such Indemnitee fails to comply with the provisions of Section 13.5(g) (and, in --------------- such case, the Lessee may deduct and withhold all Taxes required by law as a result of such noncompliance from payments made by the Lessee pursuant to the Operative Documents). With respect to any transferee of any Participant (including a transfer resulting from any change in the designation of the lending office of a Participant), the transferee shall not be entitled to any greater payment or indemnification under this Section 13.5 than the transferor ------------ would have been entitled to.

Appears in 1 contract

Samples: Participation Agreement (Chase Industries Inc)

Limitation on Tax Indemnification. The Lessee shall not be --------------------------------- required to indemnify any IndemniteeIndemnified Person, or to pay any increased amounts to any Indemnitee Indemnified Person or tax authority with respect to any withholding taxes Impositions pursuant to this Section 13.5 12.2 to the extent that (i) any obligation to withhold, deduct, or ------------ pay amounts with respect to Tax existed on the date such Indemnitee Indemnified Person became a party to any Operative Document Agreement (and, in such case, the Lessee may deduct and withhold such Tax from payments pursuant to the Operative DocumentsAgreements), or (ii) such Indemnitee Indemnified Person fails to comply with the provisions of Section 13.5(g12.2(g) (and, in --------------- such case, the Lessee may deduct and withhold all Taxes required by law as a result of such noncompliance from payments made by the Lessee pursuant to the Operative DocumentsAgreements). With respect to any transferee of any Participant Financing Party (including a transfer resulting from any change in the designation of the lending office of a ParticipantFinancing Party), the transferee shall not be entitled to any greater payment or indemnification under this Section 13.5 12.2 than the transferor ------------ would have been entitled to.

Appears in 1 contract

Samples: Participation Agreement (Lam Research Corp)

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