Required Deductions. If any Borrower shall be required by law to deduct or withhold any Taxes or Other Taxes from or in respect of any sum payable hereunder to any Lender or Agent, then, subject to Section 2.14.7: (a) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.14) such Lender or Agent, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made; (b) such Borrower shall make such deductions; and (c) such Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable law.
Appears in 5 contracts
Samples: Warehousing Credit Agreement (PLM Equipment Growth & Income Fund Vii), Warehousing Credit Agreement (PLM Equipment Growth Fund V), Warehousing Credit Agreement (PLM Equipment Growth Fund Vi)
Required Deductions. If any Borrower shall be required by law to deduct or withhold any Taxes or Other Taxes from or in respect of any sum payable hereunder to any Lender or Agent, then, subject to Section Subsection 2.14.7:
(a) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.14) such Lender or Agent, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made;
(b) such Borrower shall make such deductions; , and
(c) such Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable law.
Appears in 3 contracts
Samples: Warehousing Credit Agreement (Professional Lease Management Income Fund I LLC), Warehousing Credit Agreement (PLM Equipment Growth Fund V), Warehousing Credit Agreement (PLM Equipment Growth Fund Iii)
Required Deductions. If any Borrower shall be required by law to deduct or withhold any Taxes or Other Taxes from or in respect of any sum payable hereunder to any Lender or Agent, then, subject to Section Subsection 2.14.7:
(a) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.14) such Lender or Agent, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made;
(b) such Borrower shall make such deductions; , and
(c) such Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable law.
Appears in 3 contracts
Samples: Warehousing Credit Agreement (American Finance Group Inc /De/), Warehousing Credit Agreement (PLM International Inc), Warehousing Credit Agreement (PLM International Inc)
Required Deductions. If any Borrower shall be required by law to deduct or withhold any Taxes or Other Taxes from or in respect of any sum payable hereunder to any Lender or Agent, then, subject to Section 2.14.7:
(a) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.14) such Lender or Agent, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made;
(b) such Borrower shall make such deductions; and
(c) such Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable law.
Appears in 1 contract
Required Deductions. If any Borrower shall be required by law to deduct or withhold any Taxes or Other Taxes from or in respect of any sum payable hereunder to any Lender or Agent, then, subject to Section 2.14.7:
(a) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.14) such Lender or Agent, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made;
(b) such Borrower shall make such deductions; , and
(c) such Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable law.
Appears in 1 contract
Samples: Warehousing Credit Agreement (PLM International Inc)
Required Deductions. If any Borrower shall be required by law to deduct or withhold any Taxes or Other Taxes from or in respect of any sum payable hereunder to any Lender or Agent, then, subject to Section 2.14.72.15.7:
(a) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.142.15) such Lender or Agent, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made;
(b) such Borrower shall make such deductions; , and
(c) such Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable law.
Appears in 1 contract
Samples: Warehousing Credit Agreement (PLM International Inc)
Required Deductions. If any Borrower shall be required by law to deduct or withhold any Taxes or Other Taxes from or in respect of any sum payable hereunder to any Lender or Agent, then, subject to Section 2.14.7:
(a) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.14) such Lender or Agent, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made;
(b) such Borrower shall make such deductions; , and
(c) such Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable law.
Appears in 1 contract
Samples: Warehousing Credit Agreement (PLM Equipment Growth Fund Vi)
