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Common use of Payments Without Deduction Clause in Contracts

Payments Without Deduction. Each payment by the Guarantor to the Lender under a Relevant Document is to be made on the due date: (a) free of any restriction or condition; and (b) in full, without any deduction or withholding whatsoever (whether in respect of set-off, counterclaim, charges, taxes (of any type, present or future) or otherwise) unless such deduction or withholding is required by law in which event the Guarantor will pay to the Lender an additional amount so that the net amount (after the deduction or withholding) actually received by the Lender on the due date equals the full amount which it would have received had no deduction or withholding been made.

Appears in 5 contracts

Samples: Deed of Guarantee and Indemnity, Deed of Guarantee and Indemnity, Deed of Guarantee and Indemnity

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