Common use of Notwithstanding Section 5 Clause in Contracts

Notwithstanding Section 5. 3(a), the Borrower shall not be required to indemnify or pay any additional amounts in respect of withholding tax applicable to any amount payable under this Agreement pursuant to Section 5.3(a) above to any Non-U.S. Lender, except if any such Revolving Credit Loans were assigned, participated or transferred to such Non-U.S. Lender at the request or with the consent of the Borrower or were assigned, participated or transferred to such Non-U.S. Lender following the occurrence of and during the continuance of an Event of Default pursuant to Section 10.1 or 10.5. The Borrower shall not be required to indemnify or pay any additional amounts in respect of any taxes imposed under FATCA.

Appears in 6 contracts

Samples: Amendment and Restatement Agreement (ITC Holdings Corp.), Amendment and Restatement Agreement (ITC Holdings Corp.), Amendment and Restatement Agreement (ITC Holdings Corp.)

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Notwithstanding Section 5. 3(a), the Borrower shall not be required to indemnify or pay any additional amounts in respect of withholding tax applicable to any amount payable under this Agreement pursuant to Section 5.3(a) above to any Non-U.S. Lender, except if any such Revolving Credit Loans were assigned, participated or transferred to such Non-U.S. Lender at the request or with the consent of the Borrower or were assigned, participated or transferred to such Non-U.S. Lender following the occurrence of and during the continuance of an Event of Default pursuant to Section 10.1 or 10.5. The Borrower shall not be required to indemnify or pay any additional amounts in respect of any taxes U.S. federal witholding Taxes imposed under FATCA.

Appears in 1 contract

Samples: Revolving Credit Agreement (ITC Holdings Corp.)

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