Common use of Tax equalisation Clause in Contracts

Tax equalisation. 46.6 Where a payment is to be made to Sub-hubco pursuant to Clause 46.1, Clause 46.3, Clause 46.4 or Clause 46.5 (a "Compensation Payment") and Sub-hubco has a Relevant Tax Liability in respect of such payment, then the amount of the Compensation Payment to be made by the Authority to Sub-hubco shall be increased so as to ensure that Sub- hubco is in the same position (after account is taken of the Relevant Tax Liability) as it would have been in had it not been for such Relevant Tax Liability.

Tax equalisation. 46.6 Where a payment is to be made to Sub-hubco pursuant to Clause 46.1, Clause 46.3, Clause 46.4 or Clause 46.5 (a "Compensation Payment") and Sub-hubco has a Relevant Tax Liability in respect of such payment, then the amount of the Compensation Payment to be made by the Authority to Sub-hubco shall be increased so as to ensure that Sub- Sub-hubco is in the same position (after account is taken of the Relevant Tax Liability) as it would have been in had it not been for such Relevant Tax Liability.. For the purposes of this Clause 46 (Compensation on Termination):

Tax equalisation. 46.6 Where a payment is to be made to Sub-hubco pursuant to Clause 46.1, Clause 46.3, Clause 46.4 or Clause 46.5 (a "Compensation Payment") and Sub-hubco has a Relevant Tax Liability in respect of such payment, then the amount of the Compensation Payment to be made by the Authority to Sub-hubco shall be increased so as to ensure that Sub- Sub-hubco is in the same position (after account is taken of the Relevant Tax Liability) as it would have been in had it not been for such Relevant Tax Liability.