Payments Deemed to Include Deductions Clause Samples

Payments Deemed to Include Deductions. As between the Beneficiaries, a Beneficiary shall be deemed to have received from the Security Trustee any amount which the Security Trustee is at any time required by law to deduct or withhold on account of tax from any payment made by the Security Trustee to that Beneficiary under this Deed. However, this shall not prejudice any right which that Beneficiary may have against an Obligor or any other person other than the Security Trustee (whether under a grossing up clause or otherwise). If the Security Trustee is required to make any such deduction or withholding, the Security Trustee shall promptly deliver to the relevant Beneficiary Representative(s) or Unrepresented Beneficiary/ies evidence of that deduction or withholding and (where remittance is required) of the remittance thereof to the relevant taxing or other authority.