Common use of Special Tax Indemnity Clause in Contracts

Special Tax Indemnity. Lessee shall pay and assume all liability for, and does hereby agree to indemnify each Tax Indemnitee on an After Tax Basis for any tax, addition to tax, penalty, or other cost as a result of the breach, inaccuracy or incorrectness of the representation found in Section 2.1(j). Notwithstanding anything to the contrary in this Section 10.3.7, Lessee shall not be obligated to indemnify any Tax Indemnitee pursuant to this Section 10.3.7 in respect of any tax, penalty, or other cost that results from or would not have occurred but for any failure by such Tax Indemnitee to provide the information requested by Lessee in accordance with Section 2.1(j). Any claim under this Section 10.3.7 shall be subject to the contest provisions of Section 10.3.6 (applied as if such claim were in respect of a Tax indemnified by Lessee under Section 10.3.1) and the verification provisions of Section 10.3.3 (applied as if the amount to be paid under this Section 10.3.7 was a payment required under Section 10.3.1 hereof).

Appears in 3 contracts

Samples: Participation Agreement (Universal Compression Inc), Participation Agreement (Universal Compression Holdings Inc), Participation Agreement (BRL Universal Equipment Corp)

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Special Tax Indemnity. The Lessee shall pay and assume all liability for, and does hereby agree to indemnify each Tax Indemnitee Certificate Holder and each Lender on an After Tax Basis for any tax, addition to tax, penalty, or other cost as a result of the breach, inaccuracy or incorrectness of the representation found in Section 2.1(j2.1(i). Notwithstanding anything to the contrary in this Section 10.3.7, Lessee shall not be obligated to indemnify any Tax Indemnitee pursuant to this Section 10.3.7 in respect of any tax, penalty, or other cost that results from or would not have occurred but by for any failure by such Tax Indemnitee to provide the information requested by Lessee in accordance with Section 2.1(j2.1(i). Any claim under this Section 10.3.7 shall be subject to the contest provisions of Section 10.3.6 (applied as if such claim were in respect of a Tax indemnified by Lessee under Section 10.3.1) and the verification provisions of Section 10.3.3 (applied as if the amount to be paid under this Section 10.3.7 was a payment required under Section 10.3.1 hereof).

Appears in 1 contract

Samples: Participation Agreement (Universal Compression Inc)

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Special Tax Indemnity. Lessee shall pay and assume ----------------------- all liability for, and does hereby agree to indemnify each Tax Indemnitee on an After Tax Basis for any tax, addition to tax, penalty, or other cost as a result of the breach, inaccuracy or incorrectness of the representation found in Section 2.1(j). Notwithstanding anything to the contrary in this Section 10.3.7, Lessee shall not be obligated to indemnify any Tax Indemnitee pursuant to this Section 10.3.7 in respect of any tax, penalty, or other cost that results from or would not have occurred but for any failure by such Tax Indemnitee to provide the information requested by Lessee in accordance with Section 2.1(j). Any claim under this Section 10.3.7 shall be subject to the contest provisions of Section 10.3.6 (applied as if such claim were in respect of a Tax indemnified by Lessee under Section 10.3.1) and the verification provisions of Section 10.3.3 (applied as if the amount to be paid under this Section 10.3.7 was a payment required under Section 10.3.1 hereof).

Appears in 1 contract

Samples: Participation Agreement (BRL Universal Equipment Corp)

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