Refund of Tax Credits. If Funding 1 makes a payment under CLAUSE 10.1 (Gross-up) (a TAX PAYMENT) in respect of a payment to the Funding 1 Liquidity Facility Provider under this Agreement and the Funding 1 Liquidity Facility Provider determines that it has obtained a refund of Tax or obtained and used a credit against Tax on its overall net income (a TAX CREDIT) which the Funding 1 Liquidity Facility Provider determines to be attributable to that Tax Payment, then the Funding 1 Liquidity Facility Provider shall reimburse Funding 1 such amount as the Funding 1 Liquidity Facility Provider determines to be such proportion of that Tax Credit as will leave the Funding 1 Liquidity Facility Provider (after that reimbursement) in no better or worse position than it would have been in if no Tax Payment had been required. The Funding 1 Liquidity Facility Provider shall not be obliged to disclose to any party to this Agreement or otherwise any information regarding its Tax affairs and computations.
Refund of Tax Credits. If any Obligor pays any additional amount to a Finance Party under this Clause 10 (a "Tax Payment") and that Finance Party obtains a refund of a tax, or a credit against tax by reason of the Tax Payment (a "Tax Credit") then that Finance Party shall reimburse that Obligor such amount as can be determined to be the proportion of the Tax Credit as will leave that Finance Party (after that reimbursement) in no better or worse position than it would have been in if the Tax Payment had not been paid. Nothing in this Clause 10 shall interfere with the right of each Finance Party to arrange its affairs in whatever manner it thinks fit and no Finance Party is obliged to disclose any information regarding its tax affairs or computations to an Obligor which it reasonably considers confidential. Back to Contents
Refund of Tax Credits. If any Obligor pays any amount to a Finance Party under this Clause 11 (a “Tax Payment”) and that Finance Party obtains a refund of a tax, or a credit against tax by reason of either the circumstances giving rise to the Obligor’s obligation to make the Tax Payment or that Tax Payment (a “Tax Credit”) then that Finance Party shall reimburse that Obligor such amount, which that Finance Party determines in good faith, as can be determined to be the proportion of the Tax Credit as will leave that Finance Party (after that reimbursement) in no better or worse position than it would have been in if the Tax Payment had not been paid. Nothing in this Clause 11 shall interfere with the right of each Finance Party to arrange its affairs in whatever manner it thinks fit and no Finance Party is obliged to disclose any information regarding its tax affairs or computations to an Obligor which it reasonably considers confidential.
Refund of Tax Credits. If:- (a) a Borrower makes a payment under Clause 13.1 (Gross- up) (a "Tax Payment") in respect of a payment to a Bank under the Finance Documents; and (b) that Bank determines in good faith that it has obtained a refund of tax or obtained and used a credit against tax on its overall net income (a "Tax Credit") which that Bank is able to identify in good faith as attributable to that Tax Payment, then, if it determines, acting in good faith, that it can do so without any adverse consequences for the Bank, that Bank shall forthwith reimburse that Borrower, such amount as that Bank in its absolute discretion determines to be such proportion of that Tax Credit as will leave that Bank (after that reimbursement) in no better or worse position in respect of its worldwide tax liabilities than it would have been in if no Tax Payment had been required. A Bank shall have an absolute discretion as to whether to claim any Tax Credit (and, if it does claim, the extent, order and manner in which it does so) and whether any amount is due from it under this Clause 13.3) (and, if so, what amount and when). No Bank shall be obliged to disclose any information regarding its tax affairs and computations.
Refund of Tax Credits. If the Borrower or a Guarantor makes an increased payment under Clause 11.4(C) (a "TAX PAYMENT") the relevant Lender or, as the case may be, the Agent agrees to notify the Borrower if it has obtained a refund of tax or obtained and used a credit against tax on its overall net income (a "TAX CREDIT") which that Lender or, as the case may be, the Agent is able to identify as attributable to that Tax Payment. To the extent that it can in its absolute discretion without any adverse consequences for it, that Lender or, as the case may be, the Agent shall reimburse the Borrower or, as the case may be, that Guarantor such amount as the Lender or, as the case may be, the Agent determines to be the proportion of that Tax Credit as will leave the Lender or, as the case may be, the Agent (after that reimbursement) in no better or worse position in respect of its tax liabilities than it would have been in if no Tax Payment had been required. No Lender or, as the case may be, Agent shall be obliged to disclose any information regarding its tax affairs and computations, and this sub-clause does not affect the right of any Lender or, as the case may be, Agent to arrange its tax affairs as it thinks fit.
Refund of Tax Credits. If a Borrower makes a payment under Clause 11.1 (a "TAX PAYMENT") in respect of a payment to the Agent or a Bank under this Agreement and the Agent or Bank determines in its discretion that it has obtained a refund of tax or obtained and used a credit against tax on its overall net income (a "TAX CREDIT") which the Agent or Bank is able to identify as attributable to that Tax Payment, then the Agent or Bank shall reimburse that Borrower such amount as the Agent or Bank determines to be such proportion of that Tax Credit as will leave the Agent or Bank (after that reimbursement) in no better or worse position in respect of its worldwide tax liabilities than it would have been in if no Tax Payment had been required. That Bank or the Agent shall not be obliged to disclose any information regarding its tax affairs and computations.
Refund of Tax Credits. If, following any such deduction, withholding or payment as is referred to in paragraph (a) or paragraph (b) of Clause 12.2 (Grossing-up of Payments), the Lender shall receive or be granted a credit against or remission for any taxes payable by it, the Lender shall (subject to the Borrower having made any increased payment in accordance with paragraph (a) or paragraph (b) of Clause 12.2 (Grossing-up of Payments) and to the extent to which the Lender determines in good faith it may do so without any adverse consequences for the Lender, without prejudicing the retention of the amount of such credit or remission and without prejudice to the right of the Lender to obtain any other relief or allowance available to it and generally to organise its tax affairs in such manner as it may see fit) reimburse the Borrower with such amount as the Lender shall certify to be the proportion of such credit or remission as will leave the Lender (after such reimbursement) in no worse position in respect of its tax affairs than that in which it would have been had there been no such deduction, withholding or payment as aforesaid. Such reimbursement shall be made as soon as practicable after the Lender has received the benefit of such credit or remission. Nothing in this Clause 12.3 shall entitle the Borrower to access the Lender's tax records or to its books of account nor oblige the Lender to disclose any information regarding its tax affairs and computations.
Refund of Tax Credits. If any Obligor pays any amount to a Finance Party under this Clause 10 (a “Tax Payment”) and that Finance Party obtains a refund of a tax, or a credit against tax by reason of either the circumstances giving rise to the Obligor’s obligation to make the Tax Payment or that Tax Payment (a “Tax Credit”) then that Finance Party shall reimburse that Obligor such amount as can be determined to be the proportion of the Tax Credit as will leave that Finance Party (after that reimbursement) in no better or worse position than it would have been in if the Tax Payment had not been paid. Nothing in this Clause 10 shall interfere with the right of each Finance Party to arrange its affairs in whatever manner it thinks fit and no Finance Party is obliged to disclose any information regarding its tax affairs or computations to an Obligor which it reasonably considers confidential.
Refund of Tax Credits. If: --------------------- (a) Terra UK makes a payment under Section 2.9(a) (a "Tax Payment") in respect of a payment to a Lender or the Administrative Agent under this agreement; and
Refund of Tax Credits. If the Borrower makes a payment under this SECTION 12(4) (a "Tax Payment"), the relevant Lender agrees to notify the Borrower if it has obtained a refund of tax or obtained and used a credit against tax on its overall net income (a "Tax Credit") which that Lender is able to identify as directly attributable to that Tax Payment. To the extent that it can in its opinion do so without prejudicing its ability to retain such Tax Credit, the Lender shall reimburse the Borrower such amount as that Lender shall have determined to be the proportion of that Tax Credit as will leave the Lender (after that reimbursement) in no better or worse position in respect of its worldwide tax liabilities than it would have been in had no Tax Payment been required. Nothing in this paragraph affects the right of any Syndicate Party to arrange its tax affairs as it thinks fit or gives the Borrower or the Guarantor the right to inquire into those tax affairs.
