Common use of Tax Credit Payment Clause in Contracts

Tax Credit Payment. If any Additional Amounts are paid by the Issuer or, as the case may be, the Guarantor under this Condition for the benefit of any Holder and such Holder, in its sole discretion, determines that it has obtained (and has derived full use and benefit from) a credit against, a relief or remissions for, or repayment of, any tax, then, if and to the extent that such Holder, in its sole opinion, determines that (i) such credit, relief, remission or repayment is in respect of or calculated with reference to the Additional Amounts paid pursuant to this Condition; and (ii) its tax affairs for its tax year in respect of which such credit, relief, remission or repayment was obtained have been finally settled, such Holder shall, to the extent that it can do so without prejudice to the retention of the amount of such credit, relief, remission or repayment, pay to the Issuer or, as the case may be, the Guarantor such amount as such Holder shall in its sole opinion, determine to be the amount which will leave such Holder (after such payment) in no worse after tax position than it would have been in had the additional payment in question not been required to be made by the Issuer or, as the case may be, the Guarantor.

Tax Credit Payment. If any Additional Amounts are paid by the Issuer or, as the case may be, the Guarantor a payment or an additional payment in respect of a Claim for Taxes or Withholding Tax is made under this Condition Section 10 by any Lessee for the benefit of any Holder Indemnified Person (other than Ex-Im Bank) and such HolderIndemnified Person, in its sole own reasonable discretion, determines that it has obtained (and has derived derived, or would if it were to retain, derive full use and benefit from) a credit against, a or relief or remissions remission for, or repayment of, any taxTax, then, if and to the extent that such HolderIndemnified Person, in its sole opinion, determines that (i) such credit, relief, remission or repayment is in respect of or calculated with reference to the Additional Amounts paid payment or additional payment made pursuant to this Condition; and (ii) its tax affairs for its tax year in respect of which such credit, relief, remission or repayment was obtained have been finally settledSection 10, such Holder Indemnified Person shall, to the extent that it can do so without prejudice to the retention of the amount of such credit, relief, remission or repaymentrepayment and so long as no Default is then continuing, pay to the Issuer or, as the case may be, the Guarantor such Lessee such amount as such Holder shall Indemnified Person shall, in its sole opinionown reasonable discretion, determine to be the amount which will leave such Holder Indemnified Person (after such payment) in no worse after tax tax-position than that it would have been in had the payment or additional payment in question not been required to be made by the Issuer or, as the case may be, the Guarantorsuch Lessee.

Tax Credit Payment. If any Additional Amounts are paid by the Issuer or, as the case may be, the Guarantor under this Condition for the benefit of any Holder and such Holder, in its sole discretion, determines that it has obtained (and has derived full use and benefit from) a credit against, a relief or remissions for, or repayment of, any tax, then, if and to the extent that such Holder, in its sole opinion, determines that (i) such credit, relief, remission or repayment is in respect of or calculated with reference to the Additional Amounts paid pursuant to this Condition; and (ii) its tax affairs for its tax year in respect of which such credit, relief, remission or repayment was obtained have been finally settled, such Holder shall, to the extent that it can do so without prejudice to the retention of the amount of such credit, relief, remission or repayment, pay to the Issuer or, as the case may be, the Guarantor such amount as such Holder shall in its sole opinion, determine to be the amount which will leave such Holder (after such payment) in no worse after tax position than it would have been in had the additional payment in question not been required to be made by the Issuer or, as the case may be, the Guarantor.Guarantor.‌