Common use of Tax Deduction Clause in Contracts

Tax Deduction. a deduction or withholding for or on account of Taxes from a payment under any Loan Document.

Tax Deduction. a deduction or withholding for or on account of Taxes from a payment under any Loan DocumentDocument for and on account of any taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction or by any political subdivision or taxing authority thereof or therein with respect to such payments and all interest, penalties or similar liabilities with respect thereto.