Common use of Tax Credit Payment Clause in Contracts

Tax Credit Payment. If an additional payment is made under Clause 15 (Taxes) by an Obligor for the benefit of any Finance Party and such Finance Party, in its sole discretion acting in good faith, 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 acting in good faith, determines that: 16. 3.1 such credit, relief, remission or repayment is in respect of or calculated with reference to the additional payment made pursuant to Clause 15 (Taxes); and 16. 3.2 its tax affairs for its tax 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 such amount as such Finance Party shall, in its sole opinion acting in good faith, 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.

Tax Credit Payment. If an additional payment is made under Clause 15 (TaxesTax gross-up and indemnities) by an Obligor 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 discretion acting in good faithreasonable 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 acting in good faithopinion, determines that: 16.: 3.1 (a) such credit, relief, remission or repayment is in respect of or calculated with reference to the additional payment made pursuant to Clause 15 (TaxesTax gross-up and indemnities); and 16.and 3.2 (b) its tax affairs for its tax 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 such amount as such Finance Party shall, in its sole opinion acting in good faithreasonable 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.

Tax Credit Payment. If an additional payment is made under Clause 15 24 (TaxesTax gross-up and indemnities) by an Obligor 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 discretion acting in good faithreasonable 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 acting in good faithopinion, determines that: 16.: 3.1 (a) such credit, relief, remission or repayment is in respect of or calculated with reference to the additional payment made pursuant to Clause 15 24 (TaxesTax gross-up and indemnities); and 16.and 3.2 (b) its tax affairs for its tax 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 such amount as such Finance Party shall, in its sole opinion acting in good faithreasonable 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.

Tax Credit Payment. If an additional payment is made under Clause 15 ‎16 (TaxesTax gross-up and indemnities) by an Obligor 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 discretion acting in good faithreasonable 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 acting in good faithopinion, determines that: 16.: 3.1 (a) such credit, relief, remission or repayment is in respect of or calculated with reference to the additional payment made pursuant to Clause 15 ‎16 (TaxesTax gross-up and indemnities); and 16.and 3.2 (b) its tax affairs for its tax 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 such amount as such Finance Party shall, in its sole opinion acting in good faithreasonable 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.