Common use of No Setoff or Deduction Clause in Contracts

No Setoff or Deduction. All payments of principal and interest on the Loans and other amounts payable by the Borrower hereunder shall be made by the Borrower without setoff or counterclaim, and free and clear of, and without deduction or withholding for, or on account of, any present or future taxes or assessments imposed by any governmental authority, or by any departmental agency or other political subdivision or taxing authority.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Integrated Circuit Systems Inc), Revolving Credit Loan Agreement (Integrated Circuit Systems Inc)

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No Setoff or Deduction. All payments of principal and interest on the Loans Term Note and other amounts payable by the Borrower hereunder shall be made by the Borrower without setoff or counterclaim, and free and clear of, and without deduction or withholding for, or on account of, any present or future taxes taxes, levies, imposts, duties, fees, or assessments imposed by any governmental authority, or by any departmental department, agency or other political subdivision or taxing authority.

Appears in 2 contracts

Samples: Credit Agreement (Interpublic Group of Companies Inc), Credit Agreement (Interpublic Group of Companies Inc)

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