Common use of Payment Net of Taxes Clause in Contracts

Payment Net of Taxes. If: (1) an Obligor is legally compelled to make any deduction or withholding on account of Taxes (other than Excluded Taxes); (2) an Agent is legally compelled to make any deduction or withholding on account of Taxes (other than Excluded Taxes) from any payment to a Bank; (3) a Bank does not receive a payment to which it is entitled under this Agreement or a Transaction Document free and clear of Taxes (other than Excluded Taxes); (4) a Bank or an Agent is obliged to pay any Taxes in respect of a payment made or to be made by an Obligor under this Agreement or a Transaction Document (other than Excluded Taxes); or (5) a Bank is obliged, in respect of financial accommodation ("FUNDING") raised or proposed to be raised by the Bank to permit or facilitate its participation in an Advance: (1) to make any additional payments as a result of any deduction or withholding from any payment or repayment which the Bank is obliged to make in respect of the Funding (other than in respect of Excluded Taxes); or (2) to pay any Taxes (other than Excluded Taxes) as a result of or in connection with the Funding or any payment or repayment to be made by it in connection with the Funding, then: (6) where clause 12.2(a), (b), (c) or (d) apply, the Obligor shall on demand by the Facility Agent pay to the Facility Agent such additional amounts, by way of additional interest, as may be necessary to ensure that the Agent or Bank affected receives when due a net amount (after payment of any Taxes, other than Excluded Taxes) equal to the full amount which it would have been entitled to receive and retain had the deduction or withholding not been made or had the payment been free and clear of Taxes or had the Agent or Bank not been obliged to pay any Taxes in respect of the payment; and (7) where clause 12.2

Payment Net of Taxes. If: (1a) an Obligor is legally compelled to make any deduction or withholding with- holding on account of Taxes (other than Excluded Taxes); (2b) an Agent is legally compelled to make any deduction or withholding on account of Taxes (other than Excluded Taxes) from any payment to a Bank; (3c) a Bank does not receive a payment to which it is entitled under this Agreement or a Transaction Document free and clear of Taxes (other than Excluded Taxes); (4d) a Bank or an Agent is obliged to pay any Taxes in respect of a payment made or to be made by an Obligor under this Agreement or a Transaction Document (other than Excluded Taxes); or (5e) a Bank is obliged, in respect of financial accommodation ("FUNDINGFunding") raised or proposed to be raised by the Bank to permit or facilitate its participation in an Advance: (1i) to make any additional payments as a result of any deduction or withholding from any payment or repayment which the Bank is obliged to make in respect of the Funding (other than in respect of Excluded Taxes); or or (2ii) to pay any Taxes (other than Excluded Taxes) as a result of or in connection with the Funding or any payment or repayment to be made by it in connection with the Funding, then: (6f) where clause 12.2(a), (b), (c) or (d) apply, the Obligor shall on demand by the Facility Agent pay to the Facility Agent such additional amounts, by way of additional interest, as may be necessary to ensure that the Agent or Bank affected receives when due a net amount (after payment of any Taxes, other than Excluded Taxes) equal to the full amount which it would have been entitled to receive and retain had the deduction or withholding not been made or had the payment been free and clear of Taxes or had the Agent or Bank not been obliged to pay any Taxes in respect of the payment; and (7g) where clause 12.2

Payment Net of Taxes. If: (1a) an Obligor is legally compelled to make any deduction or withholding on account of Taxes (other than Excluded Taxes); (2b) an the Agent is legally compelled to make any deduction or withholding on account of Taxes (other than Excluded Taxes) from any payment to a Bank; (3c) a Bank does not receive a payment to which it is entitled under this Agreement or a Transaction Document free and clear of Taxes (other than Excluded Taxes); (4d) a Bank or an the Agent is obliged to pay any Taxes in respect of a payment made or to be made by an Obligor under this Agreement or a Transaction Document (other than Excluded Taxes); or (5e) a Bank is obliged, in respect of financial accommodation ("FUNDINGFunding") raised or proposed to be raised by the Bank to permit or facilitate its participation in an Advance: (1i) to make any additional payments as a result of any deduction or withholding from any payment or repayment which the Bank is obliged to make in respect of the Funding (other than in respect of Excluded Taxes); or (2ii) to pay any Taxes (other than Excluded Taxes) as a result of or in connection with the Funding or any payment or repayment to be made by it in connection with the Funding, then: (6f) where clause 12.2(a), (b), (c) or (d) apply, the Obligor shall on demand by the Facility Agent pay to the Facility Agent such additional amounts, by way of additional interest, as may be necessary to ensure that the Agent or Bank affected receives when due a net amount (after payment of any Taxes, other than Excluded Taxes) equal to the full amount which it would have been entitled to receive and retain had the deduction or withholding not been made or had the payment been free and clear of Taxes or had the Agent or Bank not been obliged to pay any Taxes in respect of the payment; and (7g) where clause 12.2

Payment Net of Taxes. If: (1a) an Obligor is legally compelled to make any deduction or withholding on account of Taxes (other than Excluded Taxes); (2b) an the Agent is legally compelled to make any deduction or withholding on account of Taxes (other than Excluded Taxes) from any payment to a Bank; (3c) a Bank does not receive a payment to which it is entitled under this Agreement or a Transaction Document free and clear of Taxes (other than Excluded Taxes); (4d) a Bank or an the Agent is obliged to pay any Taxes in respect of a payment made or to be made by an Obligor under this Agreement or a Transaction Document (other than Excluded Taxes); or (5e) a Bank is obliged, in respect of financial accommodation ("FUNDINGFunding") raised or proposed to be raised by the Bank to permit or facilitate its participation in an Advance: (1i) to make any additional payments as a result of any deduction or withholding from any payment or repayment which the Bank is obliged to make in respect of the Funding (other than in respect of Excluded Taxes); or or (2ii) to pay any Taxes (other than Excluded Taxes) as a result of or in connection with the Funding or any payment or repayment to be made by it in connection with the Funding, then: (6f) where clause 12.2(a), (b), (c) or (d) apply, the Obligor shall on demand by the Facility Agent pay to the Facility Agent such additional amounts, by way of additional interest, as may be necessary to ensure that the Agent or Bank affected receives when due a net amount (after payment of any Taxes, other than Excluded Taxes) equal to the full amount which it would have been entitled to receive and retain had the deduction or withholding not been made or had the payment been free and clear of Taxes or had the Agent or Bank not been obliged to pay any Taxes in respect of the payment; and (7g) where clause 12.2