Common use of Provisional Treaty Relief Scheme Clause in Contracts

Provisional Treaty Relief Scheme. (a) Each Treaty Lender on and after the date it becomes Party: (i) irrevocably appoints the Facility Agent to act as syndicate manager under, and authorises the Facility Agent to operate, and take any action necessary or desirable under, the PTR Scheme in connection with the Facility; (ii) shall co-operate with the Facility Agent in completing any procedural formalities necessary under the PTR Scheme, and shall promptly supply to the Facility Agent such information as the Facility Agent may request in connection with the operation of the PTR Scheme; (iii) without limiting the liability of any Obligor under this Agreement, shall, within five Business Days of demand, indemnify the Facility Agent for any liability or loss incurred by the Facility Agent as a result of the Facility Agent acting as syndicate manager under the PTR Scheme in connection with the Treaty Lender’s participation in any Credit (except to the extent that the liability or loss arises directly from the Facility Agent’s gross negligence or wilful misconduct); and (iv) shall, within five Business Days of demand, indemnify each Obligor for any Tax which such Obligor becomes liable to pay in respect of any payments made to such Treaty Lender arising as a result of any incorrect information supplied by such Treaty Lender under paragraph (ii) above which results in a provisional authority issued by HM Revenue & Customs under the PTR Scheme being withdrawn. (b) Each Obligor acknowledges that it is fully aware of its contingent obligations under the PTR Scheme and shall: (i) promptly supply to the Facility Agent such information as the Facility Agent may request in connection with the operation of the PTR Scheme; and (ii) act in accordance with any provisional notice issued by HM Revenue & Customs under the PTR Scheme. (c) The Facility Agent agrees to provide, as soon as reasonably practicable, a copy of any provisional authority issued to it under the PTR Scheme in connection with any Credit to those Obligors specified in such provisional authority. (d) All Parties acknowledge that the Facility Agent: (i) is entitled to rely completely upon information provided to it in connection with paragraphs (a) and (b) above; (ii) is not obliged to undertake any enquiry into the accuracy of such information, nor into the status of the Treaty Lender or, as the case may be, Obligor providing such information; and (iii) shall have no liability to any person for the accuracy of any information it submits in connection with paragraph (a)(i) above.

Provisional Treaty Relief Scheme. (a) Each Treaty Lender on and after the date it becomes a Party: (i) irrevocably appoints the Facility Agent to act as syndicate manager under, and authorises the Facility Agent to operate, and take any action necessary or desirable under, the PTR Scheme in connection with the Facility; (ii) shall co-operate with the Facility Agent in completing any procedural formalities necessary under the PTR Scheme, and shall promptly supply to the Facility Agent such information as the Facility Agent may request in connection with the operation of the PTR Scheme; (iii) without limiting the liability of any Obligor under this Agreement, shall, within five Business Days of demand, indemnify the Facility Agent for any liability or loss incurred by the Facility Agent as a result of the Facility Agent acting as syndicate manager under the PTR Scheme in connection with the Treaty Lender’s participation in any Credit Loan (except to the extent that the liability or loss arises directly from the Facility Agent’s gross negligence or wilful misconduct); and (iv) shall, within five Business Days of demand, indemnify each Obligor for any Tax which such Obligor becomes liable to pay in respect of any payments made to such Treaty Lender arising as a result of any incorrect information supplied by such Treaty Lender under paragraph (ii) above which results in a provisional authority issued by the HM Revenue & Customs under the PTR Scheme being withdrawn. (b) Each Obligor acknowledges that it is fully aware of its contingent obligations under the PTR Scheme and shall: (i) promptly supply to the Facility Agent such information as the Facility Agent may request in connection with the operation of the PTR Scheme; and (ii) act in accordance with any provisional notice issued by HM Revenue & Customs under the PTR Scheme. (c) The Facility Agent agrees to provide, as soon as reasonably practicable, a copy of any provisional authority issued to it under the PTR Scheme in connection with any Credit Loan to those Obligors specified in such provisional authority. (d) All Parties acknowledge that the Facility Agent: (i) is entitled to rely completely upon information provided to it in connection with paragraphs (a) and (b) above; (ii) is not obliged to undertake any enquiry into the accuracy of such information, nor into the status of the Treaty Lender or, as the case may be, Obligor providing such information; and (iii) shall have no liability to any person for the accuracy of any information it submits in connection with paragraph (a)(i) above.

Provisional Treaty Relief Scheme. (a) Each Treaty Lender on The Banks hereby appoint the Agent as their agent for the purposes of completing all documents and after the date it becomes Party: (i) irrevocably appoints the Facility Agent to act as syndicate manager under, doing all acts matters and authorises the Facility Agent to operate, and take any action necessary or desirable under, the PTR Scheme things in connection with the Facility; (ii) shall co-operate with the Facility Agent in completing any procedural formalities necessary under the PTR Scheme, and shall promptly supply to the Facility Agent such information as the Facility Agent may request in connection with the operation of the PTR Scheme; (iii) without limiting the liability of any Obligor under this Agreement, shall, within five Business Days of demand, indemnify the Facility Agent for any liability or loss incurred by the Facility Agent as a result of the Facility Agent acting as syndicate manager under the PTR Scheme in connection with the Treaty Lender’s participation in any Credit (except to the extent that the liability or loss arises directly from the Facility Agent’s gross negligence or wilful misconduct); and (iv) shall, within five Business Days of demand, indemnify each Obligor for any Tax which such Obligor becomes liable to pay in respect of any payments made to such Treaty Lender arising as a result of any incorrect information supplied by such Treaty Lender under paragraph (ii) above which results in a provisional authority issued by HM Revenue & Customs under the PTR Scheme being withdrawn. (b) Each Obligor acknowledges that it is fully aware of its contingent obligations under the PTR Scheme and shall: (i) promptly supply to the Facility Agent such information as the Facility Agent may request in connection with the operation of the PTR Scheme; and (ii) act in accordance with any provisional notice issued by HM Revenue & Customs under the PTR Scheme. (b) The Obligors and the Banks hereby agree to provide such information as the Agent may properly require in connection with all information that it needs to provide to FICO in connection with the PTR Scheme including (without limitation) completion of form PTR-SM1. (c) The Agent will provide to FICO in timely fashion (subject to the Obligors and the Banks complying with their obligations under paragraph (b) above) the details of each of the Banks and of the terms of the relevant Facility Agent agrees to provide, in such form as soon as reasonably practicable, a copy FICO may require for the purpose of any provisional authority issued to it under the PTR Scheme including completing form PTR-SM1 and the Agent will also inform FICO of any changes in connection with any Credit the identity of the Banks or in the terms of the relevant Facility which may affect the availability of treaty relief and such other information as FICO may from time to those time require (and the Banks and the Obligors specified in hereby give their consent to the Agent providing such provisional authorityinformation to FICO). (d) All Parties acknowledge that If the Facility Agent:Agent receives written confirmation from FICO on form PTR-SM2 agreeing to allow provisional treaty relief on interest payments made by the Obligors the Agent will provide a copy of the form to the relevant Banks and the Obligors. (ie) If FICO issues form PTR-SM2 the Obligors will make all payments under the terms of this Agreement either without any deduction or withholding on account of taxes or subject to deduction of tax at such rate as is entitled specified in the form PTR-SM2. (f) If the outcome of an application by any Bank pursuant to rely completely upon information provided the Double Taxation Relief (Taxes on Income) (General) Regulations 1970 made in relation to it this Agreement is that treaty relief is refused, or if tax should have been deducted at a rate lower than the usual rate, and accordingly tax should have been deducted from payments of interest while the PTR Scheme was in operation, the Obligors will pay all such tax and interest as may be properly due to the Inland Revenue and will indemnify the Agent and the Banks (on a full after tax basis) against all liabilities, costs, charges, losses and expenses as may be incurred by them as a result of or in connection with paragraphs (a) and (b) above;the PTR Scheme having been operated including any tax required to be paid by the Agent or the Banks to the Inland Revenue. (iig) If the outcome of an application by any Bank pursuant to the Double Taxation Relief (Taxes on Income) (General) Regulations 1970 made in relation to this Agreement is not obliged that treaty relief is granted, the Obligors shall send to undertake any enquiry into the accuracy of such information, nor into the status Agent a copy of the Treaty Lender or, as direction issued under the case may be, Obligor providing such information; and (iii) shall have no liability to any person for the accuracy of any information it submits in connection with paragraph (a)(i) abovesaid regulations.