Common use of No Double Counting Clause in Contracts

No Double Counting. Notwithstanding the preceding provisions of this clause 8, if: 8.9.1 either a liability to Tax arises, or would have arisen but for an insufficiency of taxable profits, or a deduction for Tax purposes is not available to the Lessor, or an event giving rise to such a liability or non-deduction occurs (which would not have been, or given rise to, such a liability or non-deduction had all of the Assumptions proved to be correct) by reason of which the Lessee is (or would, but for this clause 8.9, be) liable to make a payment under the provisions of this clause 8; and 8.9.2 in consequence of any of the Assumptions proving not to be correct any amount of Rental payable under this Agreement or the amount of the Termination Sum or both is or are adjusted upwards or would be so adjusted but for the provisions of paragraph 4.6 of the Financial Schedule, the Lessee shall not be liable to make any payments to the Lessor or otherwise in respect of Taxes under this clause 8.

Appears in 5 contracts

Samples: Lease Agreement (Seaspan CORP), Lease Agreement (Seaspan CORP), Lease Agreement (Seaspan CORP)

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