Common use of Refund of Tax Credits Clause in Contracts

Refund of Tax Credits. If:- (1) the Borrower makes a payment under sub-Clause (B)(1) or (2) (a "Tax Payment") in respect of a payment to a Bank under this Agreement; and (2) that Bank determines in its absolute 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 that Bank in its absolute discretion is able to identify as attributable to that Tax Payment, then, if in its absolute discretion it can do so without any adverse consequences for that Bank, that Bank shall reimburse the 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 sub-Clause (D) (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:- (1) the Borrower any Shareholder makes a payment under sub-Clause (B)(1A)(2) or (23) (a "Tax Payment") in respect of a payment to a Bank under this Agreement; and (2) that Bank bank determines in its absolute 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 that Bank in its absolute discretion is able to identify as attributable to that Tax Payment, then, if in its absolute discretion it can do so without any adverse consequences for that Bank, that Bank shall reimburse the Borrower that Shareholder 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 sub-Clause (DC) (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:-If: (1a) the Borrower makes a payment under sub-Clause (B)(111.2(a) or (2Clause 11.2(b) (a "Tax Payment") in respect of a payment to a Bank under this Agreement; and (2b) that Bank determines in its absolute discretion that it has obtained obtains a refund of tax Tax or obtained and used a credit against tax Tax on its overall net income Overall Net Income (a "Tax Credit") which that Bank in its absolute discretion is able to identify as attributable to that Tax Payment, then, if in its absolute discretion it can do so without any adverse consequences for that Bank, that Bank shall shall, as soon as practicable, reimburse the Borrower such amount as that Bank determines in its absolute sole 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 world-wide 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 use its reasonable endeavours 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 sub-Clause (D) 11.5 (and, if so, what amount and when). No Bank shall be obliged to disclose any information regarding its tax Tax affairs and computations.

Refund of Tax Credits. If:-If: (1) 11.3.1 any of the Borrower Obligors makes a payment under sub-Clause (B)(1) 11.2.1 or (2) Clause 11.2.2 (a "Tax PaymentTAX PAYMENT") in respect of a payment to a Bank under this Agreement; Agreement and (2) 11.3.2 that Bank determines in its absolute discretion that it has obtained a refund of tax Tax or obtained and used a credit against tax Tax on its overall net income Overall Net Income (a "Tax CreditTAX CREDIT") which that Bank in its absolute discretion is able to identify as attributable to that Tax Payment, Payment then, if in its absolute discretion it can do so without any adverse consequences for that Bankitself, that Bank shall reimburse the Borrower that Obligor 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 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 sub-Clause (D) 11.3 (and, if so, what amount and when). No Bank shall be obliged to disclose any information regarding its tax Tax affairs and computations.

Refund of Tax Credits. If:- (1) the Borrower any Shareholder makes a payment under sub-Clause (B)(1A)(2) or (23) (a "Tax Payment") in respect of a payment to a Bank under this Agreement; and (2) that Bank bank determines in its absolute 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 that Bank in its absolute discretion is able to identify as attributable to that Tax Payment, 22 20 then, if in its absolute discretion it can do so without any adverse consequences for that Bank, that Bank shall reimburse the Borrower that Shareholder 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 sub-Clause (DC) (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:- (1) the Borrower ATI makes a payment under sub-Clause (B)(1A)(2) or (23) (a "Tax Payment") in respect of a payment to a Bank under this AgreementGuarantee; and (2) that Bank determines in its absolute 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 that Bank in its absolute discretion is able to identify as attributable to that Tax Payment, then, if in its absolute discretion it can do so without any adverse consequences for that Bank, that Bank shall reimburse the Borrower ATI 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 sub-Clause (DC) (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:- (1) the Borrower HP makes a payment under sub-Clause (B)(1A)(2) or (23) (a "Tax Payment") in respect of a payment to a Bank under this AgreementGuarantee; and (2) that Bank determines in its absolute 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 that Bank in its absolute discretion is able to identify as attributable to that Tax Payment, then, if in its absolute discretion it can do so without any adverse consequences for that Bank, that Bank shall reimburse the Borrower HP 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 sub-Clause (DC) (and, if so, what amount and when). No Bank shall be obliged to disclose any information regarding its tax affairs and computations.