Common use of Tax Credit Payment Clause in Contracts

Tax Credit Payment. If an additional payment is made under Clause 10 (Taxes) by an Obligor or the Borrower for the benefit of any Finance Party and such Finance Party, in its sole discretion, determines that it has obtained (and has derived full use and benefit from) a credit against, a relief or remission for, or repayment of, any tax, then, if and to the extent that such Finance Party, in its sole opinion, determines that such credit, relief, remission or repayment is in respect of or calculated with reference to or otherwise relates to the 49 51 additional payment made pursuant to Clause 10 (Taxes), such Finance Party 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 such Obligor or, as the case may be, the Borrower such amount as such Finance Party shall, in its sole opinion, determine to be the amount which will leave such Finance Party (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 such Obligor or the Borrower.

Tax Credit Payment. If an additional payment is made under Clause 10 16 (TaxesTax gross-up and indemni­ties) by an Obligor or the Borrower for the benefit of any Finance Party Party, including for the avoid­ance of doubt any payment in respect of any deduction or withholding, and such Finance Party, in its sole reasonable discretion, determines that it has obtained (and has derived full use and benefit from) a credit against, a relief or remission for, or repayment of, any tax, then, if and to the extent that such Finance Party, in its sole opinion, determines that that: 16.8.1 such credit, relief, remission or repayment is in respect of or calculated with reference to or otherwise relates ref­erence to the 49 51 additional payment made pursuant to Clause 10 16 (TaxesTax gross-up and indemnities); and 16.8.2 its tax affairs for its year in respect of which such credit, relief, remission or re­payment was obtained have been finally settled, such Finance Party 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 such Obligor or, as the case may be, the Borrower such amount as such Finance Party shall, in its sole reasonable opinion, determine to be the amount which will leave such Finance Party (after such payment) in no worse after-tax position than it would have been in had the additional addi­tional payment in question not been required to be made by such Obligor or the BorrowerObligor.

Tax Credit Payment. If an additional payment is made under Clause 10 16 (TaxesTax gross-up and indemnities) by an Obligor or the Borrower for the benefit of any Finance Party Party, including for the avoidance of doubt any payment in respect of any deduction or withholding, and such Finance Party, in its sole reasonable discretion, determines that it has obtained (and has derived full use and benefit from) a credit against, a relief or remission for, or repayment of, any tax, then, if and to the extent that such Finance Party, in its sole opinion, determines that that: 16.8.1 such credit, relief, remission or repayment is in respect of or calculated with reference to or otherwise relates to the 49 51 additional payment made pursuant to Clause 10 16 (TaxesTax gross-up and indemnities); and 16.8.2 its tax affairs for its year in respect of which such credit, relief, remission or repayment was obtained have been finally settled, such Finance Party 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 such Obligor or, as the case may be, the Borrower such amount as such Finance Party shall, in its sole reasonable opinion, determine to be the amount which will leave such Finance Party (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 such Obligor or the BorrowerObligor.

Tax Credit Payment. If an additional payment is made under Clause 10 (Taxes) by an Obligor or the Borrower for the benefit of any Finance Party and such Finance Party, in its sole discretion, determines that it has obtained (and has derived full use and benefit from) a credit against, a relief or remission for, or repayment of, any tax, then, if and to the extent that such Finance Party, in its sole opinion, determines that such credit, relief, remission or repayment is in respect of or calculated with reference to or otherwise relates to the 49 51 additional payment made pursuant to Clause 10 (Taxes), such Finance Party 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 such Obligor or, as the case may be, the Borrower such amount as such Finance Party shall, in its sole opinion, determine to be the amount which will leave such Finance Party (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 such Obligor or the Borrower.