Common use of PAYMENT OF TAXES; INDEMNITY Clause in Contracts

PAYMENT OF TAXES; INDEMNITY. The Trustee is empowered to pay out of the Trust, as a general charge thereon, any and all taxes of whatsoever nature assessed on or in respect to the Trust; provided, however, that, if the Sponsor shall notify the Trustee in writing that in the opinion of its counsel any such tax is not lawfully assessed, the Trustee, if so requested by the Sponsor, shall contest the validity of such tax in any manner deemed appropriate by the Sponsor or its counsel. The word "taxes", as used herein, shall be deemed to include any interest or penalties assessed in respect to such taxes. Unless the Trustee first shall have been indemnified to its satisfaction by the Sponsor, the Trustee shall not be required to contest the validity of any tax, to institute, maintain, or defend against any other action or proceeding, or to incur any other expense in connection with the Trust, except to the extent that the Trust is sufficient therefor.

PAYMENT OF TAXES; INDEMNITY. The Trustee is empowered to pay out of the assets of the Trust, as a general charge thereon, any and all taxes of whatsoever nature assessed on or in respect to the Trustthereto; provided, however, that, if the Sponsor shall notify Company notifies the Trustee in writing that in the opinion of its counsel any such tax is not lawfully assessed, the Trustee, if so requested by the SponsorCompany, shall contest the validity of such tax in any manner deemed appropriate by the Sponsor Company or its counsel. The word "“taxes"”, as used herein, shall be deemed to include any interest or penalties assessed in respect to such taxes. Unless the Trustee first shall have been indemnified to its satisfaction by the Sponsorsatisfaction, the Trustee shall not be required to contest the validity of any tax, to institute, maintain, or defend against any other action or proceeding, or to incur any other expense in connection with the Trust, Trust except to the extent that the Trust same is sufficient therefor.

PAYMENT OF TAXES; INDEMNITY. The Trustee is empowered to pay out of the assets of the Trust, as a general charge thereon, any and all taxes of whatsoever nature assessed on or in respect to the Trustthereto; provided, however, that, that if the Sponsor Company shall notify the Trustee in writing that in the opinion of its counsel any such tax is not lawfully assessed, the Trustee, if so requested by the SponsorCompany, shall contest the validity of such tax in any manner deemed appropriate by the Sponsor Company or its counsel. The word "taxes", as used herein, shall be deemed to include any interest or penalties assessed in respect to such taxes. Unless the Trustee shall first shall have been indemnified to its satisfaction by the Sponsorsatisfaction, the Trustee shall not be required to contest the validity of any tax, to institute, maintain, or defend against any other action or proceeding, or to incur any other expense in connection with the Trust, Trust except to the extent that the Trust same is sufficient therefor.