Common use of Payments to be Free of Deductions Clause in Contracts

Payments to be Free of Deductions. Each payment required of Borrower under this Agreement, the Note, or any of the other Loan Documents shall be made without set-off, deduction or counterclaim whatsoever, and shall be free of taxes, levies, imposts, duties, charges, fees, deductions, withholdings, compulsory loans, restrictions or conditions of any nature now or hereafter imposed or levied by any governmental or taxing authority, unless Borrower is compelled by law to make any such deduction or withholding. If any such obligation to deduct or withhold is imposed upon Borrower with respect to any such payment: (i) Borrower may make the deduction or withholding required by law in respect of the said payment, and (ii) there shall become and be absolutely due and payable by Borrower to the Bank on the date on which such payment shall become due and payable, and Borrower hereby promises to pay to the Bank on such date, such additional amount as shall be necessary to enable the Bank to receive the same net amount as the Bank would have received had no such obligation been imposed by law. Notwithstanding the foregoing to the contrary, this Section 5(e) shall not apply in the case of any deductions or withholdings made in respect of taxes charged upon or by reference to the overall net income, profits or gains of the Bank.

Payments to be Free of Deductions. Each payment required of payable by the Borrower to Lender under this Agreement, the Note, or any of the other Loan Documents shall be made in accordance with Section 2.7 hereof, without set-off, deduction off or counterclaim whatsoever, and shall be free and clear of and without any deduction of any kind for any taxes, levies, imposts, duties, charges, fees, deductions, withholdings, compulsory loans, restrictions or conditions of any nature now or hereafter imposed or levied by any governmental or taxing government authority, political subdivision or any taxing or other authority therein, unless the Borrower is compelled by law to make any such deduction or withholding. If any such obligation to deduct or withhold the Borrower is imposed upon Borrower so compelled with respect to any such payment: payment payable by the Borrower to Lender, (ia) Borrower may shall be permitted to make the deduction or withholding required by law in respect of the said payment, and (iib) there shall become and be absolutely due and payable by the Borrower to the Bank Lender on the date on which such the said payment shall become due and payable, payable and the Borrower hereby promises to pay to the Bank Lender on such date, such additional amount as shall be necessary to enable the Bank Lender to receive the same net amount as the Bank which Lender would have received on such due date had no such obligation been imposed by law. Notwithstanding Anything in this Section to the contrary notwithstanding, the foregoing to the contrary, provisions of this Section 5(e) shall not apply in the case of any deductions or withholdings made in respect of taxes charged upon or by reference to the overall net income, profits or gains of the BankLender.

Payments to be Free of Deductions. Each payment required of to be made by Borrower under this Agreement, the any Note, or any of the other Loan Documents shall be made in accordance with SECTION 2.11 hereof, without set-off, deduction or counterclaim whatsoever, and shall be free and clear of taxes, levies, imposts, duties, charges, fees, deductionsdeduction, withholdings, compulsory loans, restrictions or conditions of any nature now or hereafter imposed or levied by any governmental or taxing authority, unless Borrower is compelled by law to make any such deduction or withholding. If In the event that any such obligation to deduct or withhold is imposed upon Borrower with respect to any such payment: (ia) Borrower may shall be permitted to make the deduction or withholding required by law in respect of the said payment, and (iib) there shall become and be absolutely due and payable by Borrower to the Bank Agent or such Lender on the date on which such the said payment shall become be due and payable, and Borrower hereby promises to pay to the Bank Agent or such Lender on such date, such additional amount as shall be necessary to enable the Bank Agent or such Lender to receive the same net amount as the Bank which Agent or such Lender would have received on such due date had no such obligation been imposed by law. Notwithstanding the foregoing any provision of this SECTION 2.12 to the contrary, the foregoing provisions of this Section 5(e) SECTION 2.12 shall not apply in the case of any deductions or withholdings withholding made (y) in respect of taxes charged upon or by reference to the overall net income, profits or gains of the BankAgent or any Lender, or (z) failure by a Lender to comply with SECTION 2.22.

Payments to be Free of Deductions. Each payment required of payable by Borrower to Lenders under this Agreement, the any Note, or any of the other Loan Documents shall be made in accordance with Section 2.5 hereof, without set-off, deduction off or counterclaim whatsoever, and shall be free and clear of and without any deduction of any kind for any taxes, levies, imposts, duties, charges, fees, deductions, withholdings, compulsory loans, restrictions or conditions of any nature now or hereafter imposed or levied by any governmental political subdivision or any taxing authorityor other authority therein, unless Borrower is compelled by law to make any such deduction or withholding. If In the event that any such obligation to deduct or withhold is imposed upon Borrower with respect to any such payment: payment payable by Borrower to Lenders, (ia) Borrower may shall be permitted to make the deduction or withholding required by law in respect of the said payment, and (iib) there shall become and be absolutely due and payable by Borrower to the Bank Lenders on the date on which such the said payment shall become due and payable, payable and Borrower hereby promises to pay to the Bank Lenders on such date, such additional amount as shall be necessary to enable the Bank Lenders to receive the same net amount as the Bank which Lenders would have received on such due date had no such obligation been imposed by law. Notwithstanding Anything in this Section 2.6 to the contrary notwithstanding, the foregoing to the contrary, provisions of this Section 5(e) 2.6 shall not apply in the case of any deductions or withholdings made in respect of taxes charged upon or by reference to the overall net income, profits or gains of the BankLenders.