Common use of Refunds and Benefits Clause in Contracts

Refunds and Benefits. If any Lender, the Issuing Bank or the Administrative Agent receives a refund or credit in respect of any Taxes or Other Taxes for which such Lender, Issuing Bank or the Administrative Agent has received payment from the Borrower (whether under Sections 4.06(a) or (c) or otherwise), and to the extent that such payment by the Borrower reduced the tax burden that such Lender, the Issuing Bank or the Administrative Agent was or shall be required to pay (such tax burden reduction hereinafter called the "tax benefit"), such Lender, Issuing Bank or the Administrative Agent, as the case may be, shall promptly notify the Borrower of such refund, credit or tax benefit and shall, if no Default or Event of Default has occurred and is continuing promptly thereafter (or promptly upon receipt or realization, if the Borrower has requested application for such refund, credit or tax benefit pursuant hereto), pay an amount equal to such refund, credit or tax benefit to the Borrower without interest (but with any interest so refunded or credited), provided that the Borrower, upon the request of such Lender, the Issuing Bank or the Administrative Agent, agrees to return such refund, credit or tax benefit (plus penalties, interest or other charges) to such Lender or the Administrative Agent to the extent such Lender or the Administrative Agent is required to repay such refund, credit or tax benefit (plus penalties, interest or other charges).