Common use of Payments Subject to Taxes Clause in Contracts

Payments Subject to Taxes. If any Obligor, the Agent, or any Lender is required by Applicable Law (as determined in the good faith discretion of the applicable withholding agent) to deduct or pay any Indemnified Taxes (including any Other Taxes) in respect of any payment by or on account of any obligation of an Obligor hereunder or under any other Loan Document, then: (i) the sum payable shall be increased by that Obligor when payable as necessary so that after making or allowing for all required deductions and payments (including deductions and payments applicable to additional sums payable under this Section 13.2) the Agent or Lender, as the case may be, receives an amount equal to the sum it would have received had no such deductions or payments been required; (ii) the Borrowers shall make any such deductions required to be made by it under Applicable Law; and (iii) the Borrowers shall timely pay the full amount required to be deducted to the relevant Governmental Authority in accordance with Applicable Law.

Payments Subject to Taxes. If any Obligor, the Agent, or any Lender is required by Applicable Law (as determined in the good faith discretion of the applicable withholding agent) to deduct or pay any Indemnified Taxes (including any Other Taxes) in respect of any payment by or on account of any obligation of an Obligor hereunder or under any other Loan Document, then: (i) the sum payable shall be increased by that Obligor when payable as necessary so that after making or allowing for all required deductions and payments (including deductions and payments applicable to additional sums payable under this Section 13.212.2) the Agent or Lender, as the case may be, receives an amount equal to the sum it would have received had no such deductions or payments been required; (ii) the Borrowers Borrower shall make any such deductions required to be made by it under Applicable Law; and (iii) the Borrowers Borrower shall timely pay the full amount required to be deducted to the relevant Governmental Authority in accordance with Applicable Law.