REQUEST FOR REFUND. At the reasonable request of Holdings, on behalf of the Borrowers, a Lender or the Agent shall apply at the Borrowers' expense for a refund in respect of Taxes or Other Taxes previously paid by the Borrowers pursuant to this Section 3.9. Notwithstanding the foregoing, none of the Lenders or the Agent shall be obligated to pursue such refund if, in its sole good faith judgment, such action would be disadvantageous to it. If any Lender subsequently receives from a taxing authority a refund of any Tax previously paid by the Borrowers and for which the Borrowers have indemnified the Lender pursuant to this Section 3.9, such Lender shall within thirty (30) days after receipt of such refund, and to the extent permitted by applicable Law, pay to the Borrowers the net amount of any such recovery after deducting taxes and reasonable expenses attributable thereto.
Appears in 2 contracts
Samples: Credit Agreement (Lincoln Electric Holdings Inc), Credit Agreement (Lincoln Electric Holdings Inc)
REQUEST FOR REFUND. At the reasonable request of Holdings, on behalf of the Borrowers, a Lender or the Agent shall apply at the Borrowers' β expense for a refund in respect of Taxes or Other Taxes previously paid by the Borrowers pursuant to this Section 3.9. Notwithstanding the foregoing, none of the Lenders or the Agent shall be obligated to pursue such refund if, in its sole good faith judgment, such action would be disadvantageous to it. If any Lender subsequently receives from a taxing authority a refund of any Tax previously paid by the Borrowers and for which the Borrowers have indemnified the Lender pursuant to this Section 3.9, such Lender shall within thirty (30) days after receipt of such refund, and to the extent permitted by applicable Law, pay to the Borrowers the net amount of any such recovery after deducting taxes and reasonable expenses attributable thereto.
Appears in 1 contract
REQUEST FOR REFUND. At the reasonable request of Holdingsthe Borrower, on behalf of the Borrowers, a Lender or the Agent Bank shall apply at the Borrowers' Borrower's expense for a refund in respect of Taxes or Other Taxes previously paid by the Borrowers Borrower pursuant to this Section 3.93.9 if in the opinion of the Bank there is a reasonable basis for such refund. Notwithstanding the foregoing, none of the Lenders or the Agent Bank shall not be obligated to pursue such refund if, in its sole good faith judgment, such action would be disadvantageous to it. If any Lender the Bank subsequently receives from a taxing authority a refund of any Tax previously paid by the Borrowers Borrower and for which the Borrowers have Borrower has indemnified the Lender Bank pursuant to this Section 3.9, such Lender the Bank shall within thirty (30) days after receipt of such refund, and to the extent permitted by applicable Law, pay to the Borrowers Borrower the net amount of any such recovery after deducting taxes and reasonable expenses attributable thereto.
Appears in 1 contract