Common use of Payments and Taxation Clause in Contracts

Payments and Taxation. 6.1. The total amount payable by the Borrower to the Lender in respect of the Loan shall be the aggregate of the principal amount of the Loan and including also, interest due thereon as specified in the Loan Agreement and the additional fees, costs and charges referred to in the Loan Agreement (including costs and charges arising by reason of any default by the Borrower). 6.2. All repayments and payments by the Borrower hereunder shall be made, without set-off or counterclaim, in the currency of the Loan to such account of the Lenders the Lender may from time to time notify to the Borrower. 6.3. Where any payment under the Loan Agreement falls due on a day which is not a Business day, it shall be made on the next succeeding Business Day. 6.4. The Borrower shall pay all amounts of principal, interest and fees due under this Agreement in full, free and clear of, and without deduction or withholding for, all present and future taxes, levies, imposts, duties, fees or other charges, now or hereafter imposed by any federal or political subdivision thereof. If any such taxes are required by law of the Russian Federation to be deducted or withheld from any payment under this Agreement, the Borrower shall deduct or withhold such taxes and shall increase the amounts paid under this Agreement so that the Lender receives when due, after deduction or withholding for such taxes, the full amount of the payments provided for in this Agreement which would have been received had there been no deduction or withholding. 6.5. The Lender and the Borrower will use all reasonable efforts to file all necessary documents with Russian tax authorities to be granted any reduction of taxes deducted or withheld at source, in accordance with provisions of the Russian-Cyprus Treaty on Avoiding of Double Taxation.