No Gross Up Sample Clauses
The "No Gross Up" clause stipulates that a party receiving payments under a contract is not entitled to receive additional amounts to offset any taxes or deductions imposed on those payments. In practice, this means if taxes are withheld by law from a payment, the recipient bears the cost and does not receive a higher payment to compensate for the deduction. This clause ensures that the payer's financial obligation remains fixed and predictable, preventing unexpected increases in payment amounts due to tax withholdings.
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No Gross Up. The Issuer shall not be obligated to pay any additional amounts to the Holders or beneficial owners of the Notes as a result of any withholding or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges.
No Gross Up. (a) All payments to be made hereunder will be paid without deduction or withholding for or on account of any taxes, save as required by applicable law (or pursuant to FATCA), in which case they shall be made net of any such required deduction or withholding.
(b) To the extent permitted by applicable law, the Subordinated Lender covenants with the Issuer that it will provide (including by way of updates) to the Issuer in such form and at such time as is reasonably requested by the Issuer (including by way of electronic certification) any information, representations, certifications, waivers and forms as may reasonably be requested by the Issuer to assist it in complying with FATCA or any other Tax Information Arrangement (including any voluntary agreement entered into with a tax authority in connection with FATCA or any other Tax Information Arrangement), where applicable, and to determine whether any FATCA Deduction is required with respect to payments to the Subordinated Lender under the Transaction Documents. The Issuer will be entitled (to the extent permitted by applicable law) to disclose to any tax authority any information relating to the Subordinated Lender, this Agreement and the Transaction Documents required for the purposes of FATCA or any other Tax Information Arrangement, including (without limitation) any information, representations, certifications, waivers and forms provided pursuant to this clause 5.4(b).
No Gross Up. All payments by the Guarantor LP under this Agreement shall be made without any deduction or withholding for or on account of and free and clear of, any Taxes, except to the extent that the Guarantor LP is required by law to make payment subject to any Taxes.
No Gross Up. No Person, including the Issuer, shall be obligated to pay any additional amounts to the Noteholders or Note Owners as a result of any withholding or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges. In addition, the Indenture Trustee will withhold on payments of Fees to Non-U.S. Noteholders unless such Noteholder provides a correct, complete and executed U.S. Internal Revenue Service Form W-8ECI or is eligible for benefits under an income tax treaty with the United States that eliminates U.S. federal income taxation on U.S. source Fees and such Non-U.S. Noteholder provides a correct, complete and executed U.S. Internal Revenue Service Form W-8BEN. The Indenture Trustee may rely on such U.S. Internal Revenue Service Form W-8ECI or W-8BEN to evidence the Noteholders’ eligibility.
No Gross Up. All payments by Funding 2 under this Agreement shall be made without any deduction or withholding for or on account of, and free and clear of, any Taxes, except to the extent that Funding 2 is required by law to make payment subject to any Taxes.
No Gross Up. All payments by Funding under this Agreement shall be made without any deduction or withholding for or on account of, and free and clear of, any Taxes, except to the extent that Funding is required by law to make payment subject to such deduction or withholding.
No Gross Up. All payments by Funding under the Intercompany Loan Agreement shall be made without any deduction or withholding for or on account of, and free and clear of, any Taxes, except to the extent that Funding is required by law to make payment subject to any Taxes.
No Gross Up. Unless otherwise provided in an applicable supplemental indenture, the Company and the Trustee shall be entitled to make any withholding or deduction for, or on account of, any other present or future taxes, duties, assessments or governmental charges, and the Company shall not be obligated to pay any additional amounts with respect to the Securities as a result of any such withholding or deduction.
No Gross Up. The Issuer will not be required to and will not make any additional payment by way of gross-up or otherwise with respect to the deduction or withholding from any payment made in respect of the Borrower Notes under clause 9.
No Gross Up. The Issuer shall not be obligated to pay any additional amounts to the Holders or the holders of beneficial interests in the Notes as a result of any withholding or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges. The Indenture Trustee shall be entitled to deduct FATCA Withholding Tax and shall have no obligation to gross-up any payment hereunder or to pay any additional amount as a result of such FATCA Withholding Tax. Nothing in the immediately preceding sentence shall be construed as obligating the Obligors to make any “gross up” payment or similar reimbursement in connection with a payment in respect of which amounts are so withheld or deducted. Each Noteholder or Note Owner, by its acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, agrees to provide and, upon request, shall provide to the Indenture Trustee, Paying Agent and/or the Issuer (or other person responsible for withholding of taxes) the Noteholder Tax Identification Information. Further, each Noteholder and Note Owner is deemed to understand, acknowledge and agree that the Indenture Trustee, Paying Agent and Issuer have the right to withhold on payments with respect to a Note (without any corresponding gross-up) where an applicable party fails to comply with the requirements set forth in the preceding sentence or the Indenture Trustee, Paying Agent or Issuer is otherwise required to so withhold under applicable law. Notwithstanding any other provisions herein, the term ‘applicable law’ for purposes of this Section 5.02 includes U.S. federal tax law and FATCA.