Minimum Interest. As part of entering into this Agreement, the parties hereto have assumed that the interest payable at the rates set forth in this Agreement is not and will not become subject to Swiss Federal Withholding Tax. Notwithstanding the foregoing, the parties hereto agree that in the event that (A) Swiss Federal Withholding Tax is due on interest payments or other payments by any Credit Party under this Agreement and (B) Section 2.20(b) (Withholding of Taxes) is unenforceable for any reason:
Appears in 15 contracts
Samples: Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.), Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.), Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.)
Minimum Interest. As part of 6.6.1 When entering into this Agreement, the parties hereto Parties have assumed that the interest payable at the rates set forth in under this Agreement is not and will not become subject to any tax deduction on account of Swiss Federal Withholding Tax. Notwithstanding the foregoing, the parties hereto agree that in the event that (A) Swiss Federal Withholding Tax is due on interest payments or other payments by any Credit Party under this Agreement and (B) Section 2.20(b) (Withholding of Taxes) is unenforceable for any reason:.
Appears in 6 contracts
Samples: Facilty Agreement (Pra Group Inc), Fourth Amendment and Restatement Agreement (Pra Group Inc), Pra Group Inc
Minimum Interest. As part of entering into this Agreement, the parties hereto have assumed that the interest payable at the rates set forth in this Agreement is not and will not become subject to Swiss Federal Withholding Tax. Notwithstanding the foregoing, the parties hereto agree that in the event that (A) Swiss Federal Withholding Tax is due on interest payments or other payments by any Credit Loan Party under this Agreement and (B) Section 2.20(b) (Withholding of Taxes2.17(a) is unenforceable for any reason:, where payment of an additional amount would otherwise be required by the terms of Section 2.17(a):
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Bausch Health Companies Inc.), Restatement Agreement (Valeant Pharmaceuticals International, Inc.)
Minimum Interest. As part of (i) By entering into this Agreement, the parties hereto Parties have assumed in good faith that the interest payable at the rates set forth in this Agreement hereunder is not and will not become subject to any deduction on account of Swiss Federal Withholding Tax. Notwithstanding the foregoingNevertheless, the parties hereto agree that in the event that (A) Swiss Federal Withholding Tax is due should be imposed on any interest payments or other payments by any Credit Party payable under this Agreement or another Loan Document and (Bshould it be unlawful for a Swiss Obligor to comply with Section 2.17(a) Section 2.20(b) (Withholding of Taxes) is unenforceable for any reasonreason (where this would otherwise be required by the terms of Section 2.17(a)) then:
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