Common use of Tax Credit Payment Clause in Contracts

Tax Credit Payment. If the Borrower makes a Tax Payment for the benefit of any Lender and such Lender, determines that: 9.3.1 a Tax Credit is attributable either to an increased payment of which that Tax Payment forms part, or to that Tax Payment; and 9.3.2 that Lender has obtained, utilised and retained that Tax Credit, the Lender shall pay an amount to the Borrower which that Lender determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been required to be made by the Borrower.

Tax Credit Payment. If the Borrower makes a Tax Payment for the benefit of any Lender and such Lender, determines that: 9.3.1 (a) a Tax Credit is attributable either to an increased payment of which that Tax Payment forms part, or to that Tax Payment; and 9.3.2 (b) that Lender has obtained, utilised and retained that Tax Credit, the Lender shall pay an amount to the Borrower which that Lender determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been required to be made by the Borrower.