Common use of Status of Banks Clause in Contracts

Status of Banks. (i) Any Bank that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Basic Document shall deliver to the Company and the Agent, at the time or times reasonably requested by the Company or the Agent, such properly completed and executed documentation reasonably requested by the Company or the Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Bank, if reasonably requested by the Company or the Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Company or the Agent as will enable the Company or the Agent to determine whether or not such Bank is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section (f)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Bank’s reasonable judgment such completion, execution or submission would subject such Bank to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Bank.

Appears in 2 contracts

Samples: Credit Agreement (Empire Resources Inc /New/), Credit Agreement (Empire Resources Inc /New/)

AutoNDA by SimpleDocs

Status of Banks. (i1) Any Bank that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Basic Loan Document shall deliver to the Company Borrower and the Agent, at the time or times reasonably requested by the Company Borrower or the Agent, such properly completed and executed documentation reasonably requested by the Company Borrower or the Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Bank, if reasonably requested by the Company Borrower or the Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Company Borrower or the Agent as will enable the Company Borrower or the Agent to determine whether or not such Bank is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section (f)(ii)(A3.2(G)(b)(i), (ii)(Bb)(ii) and (ii)(Db)(iv) below) shall not be required if in the Bank’s reasonable judgment such completion, execution or submission would subject such Bank to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Bank.

Appears in 1 contract

Samples: Credit Agreement (Davey Tree Expert Co)

AutoNDA by SimpleDocs

Status of Banks. (i) Any Bank that is entitled to an exemption from or reduction of withholding Tax tax with respect to payments made under any Basic Document Loan Paper shall deliver to the Company and the Withholding Agent, at the time or times reasonably requested by the Company or the Withholding Agent, such properly completed and executed documentation reasonably requested by the Company or the Withholding Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Bank, if reasonably requested by the Company or the Withholding Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Company or the Withholding Agent as will enable the Company or the Withholding Agent to determine whether or not such Bank is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section (f)(ii)(A), 13.6(f)(ii)(A) and (ii)(B) and (ii)(DSection 13.6(g) below) shall not be required if in the Bank’s reasonable judgment such completion, execution or submission would subject such Bank to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Bank.

Appears in 1 contract

Samples: Credit Agreement (Par Petroleum Corp/Co)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!