REQUIREMENT TO GROSS-UP. All payments to be made by any of the Obligors to any person under this Agreement shall be made free and clear of and without deduction for or on account of tax unless such Obligor is required by law to make such a payment subject to the deduction or withholding of tax, in which case the sum payable by such Obligor in respect of which such deduction or withholding is required to be made shall be increased to the extent necessary to ensure that, after the making of such deduction or withholding (including any deduction or withholding applicable to additional sums payable under this clause), such person receives and retains (free from any liability in respect of any such deduction or withholding) a net sum equal to the sum which it would have received and so retained had no such deduction or withholding been made or been required to be made.
Appears in 6 contracts
Samples: Ninth Supplemental Agreement (Bell Microproducts Inc), Tenth Supplemental Agreement (Bell Microproducts Inc), Syndicated Credit Agreement (Bell Microproducts Inc)
