Tax Liabilities Imposed on a Lender. Any and all payments by a Borrower hereunder or under any of the Credit Documents shall be made, in accordance with the terms hereof and thereof, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding taxes measured by net income and franchise taxes imposed on any Lender by the jurisdiction under the laws of which such Lender is organized or transacting business or any political subdivision thereof (all such non-excluded taxes, being hereinafter referred to as “Taxes”). If such Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder to any Lender, (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 4.4) such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) such Borrower shall make such deductions, (iii) such Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law, and (iv) such Borrower shall deliver to such Lender evidence of such payment to the relevant Governmental Authority.
Appears in 12 contracts
Samples: Revolving Credit Agreement (Dominion Resources Inc /Va/), Five Year Revolving Credit Agreement (Dominion Resources Inc /Va/), Five Year Revolving Credit Agreement (Virginia Electric & Power Co)
Tax Liabilities Imposed on a Lender. Any and all payments by a the Borrower hereunder or under any of the Credit Documents shall be made, in accordance with the terms hereof and thereof, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding taxes measured by net income and franchise taxes imposed on any Lender by the jurisdiction under the laws of which such Lender is organized or transacting business or any political subdivision thereof (all such non-excluded taxes, being hereinafter referred to as “"Taxes”"). If such the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder to any Lender, (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 4.4) such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) such the Borrower shall make such deductions, (iii) such the Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law, and (iv) such the Borrower shall deliver to such Lender evidence of such payment to the relevant Governmental Authority.
Appears in 10 contracts
Samples: 364 Day Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Consolidated Natural Gas Co/Va)
Tax Liabilities Imposed on a Lender. Any and all payments by a the Borrower hereunder or under any of the Credit Documents shall be made, in accordance with the terms hereof and thereof, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding taxes measured by net income and franchise taxes imposed on any Lender by the jurisdiction under the laws of which such Lender is organized or transacting business or any political subdivision thereof (all such non-excluded taxes, being hereinafter referred to as “Taxes”). If such the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder to any Lender, (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 4.4) such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) such the Borrower shall make such deductions, (iii) such the Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law, and (iv) such the Borrower shall deliver to such Lender evidence of such payment to the relevant Governmental Authority.
Appears in 8 contracts
Samples: Five Year Credit Agreement (Dominion Resources Inc /Va/), 364 Day Revolving Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Dominion Resources Inc /Va/)
Tax Liabilities Imposed on a Lender. Any and all payments by a Borrower hereunder or under any of the Credit Documents shall be made, in accordance with the terms hereof and thereof, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding taxes measured by net income and franchise taxes imposed on any Lender by the jurisdiction under the laws of which such Lender is organized or transacting business or any political subdivision thereof (all such non-excluded taxes, being hereinafter referred to as “"Taxes”"). If such Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder to any Lender, (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 4.4) such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) such Borrower shall make such deductions, (iii) such Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law, and (iv) such Borrower shall deliver to such Lender evidence of such payment to the relevant Governmental Authority.
Appears in 5 contracts
Samples: 364 Day Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Virginia Electric & Power Co)
Tax Liabilities Imposed on a Lender. Any and all payments by a the Borrower hereunder or under any of the Credit Loan Documents shall be made, in accordance with the terms hereof and thereof, subject to the provisions of this Section 2.16 and Section 2.17, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding taxes measured by net income and franchise taxes imposed on any Lender by the jurisdiction under the laws of which such Lender is organized or transacting business or any political subdivision thereof (all such non-excluded taxes, being hereinafter referred to as “Taxes other than Excluded Taxes”). If such the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder to any Lender, (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 4.42.16) such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) such the Borrower shall make such deductions, (iii) such the Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable lawApplicable Law, and (iv) such the Borrower shall deliver to such Lender evidence of such payment to the relevant Governmental Authority. Notwithstanding any other provision of this Section 2.16, the Borrower shall not be required to pay any additional amounts pursuant to this Section 2.16(a) with respect to Taxes that are attributable to such Lender’s failure to fully comply with Section 2.16(c) and/or the certifications provided by such Lender being inaccurate.
Appears in 3 contracts
Samples: Revolving Credit Facility (Nordstrom Inc), Revolving Credit Facility (Nordstrom Inc), Revolving Credit Facility (Nordstrom Inc)
Tax Liabilities Imposed on a Lender. Any and all payments by a the Borrower hereunder or under any of the Credit Loan Documents shall be made, in accordance with the terms hereof and thereof, subject to the provisions of this Section 2.16 and Section 2.17, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding taxes measured by net income and franchise taxes imposed on any Lender by the jurisdiction under the laws of which such Lender is organized or transacting business or any political subdivision thereof (all such non-excluded taxes, being hereinafter referred to as “Taxes other than Excluded Taxes”). If such the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder to any Lender, (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 4.42.16) such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) such the Borrower shall make such deductions, (iii) such the Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable lawApplicable Law, and (iv) such the Borrower shall deliver to such Lender evidence of such payment to the relevant Governmental Authority. Notwithstanding any other provision of this Section 2.16, the Borrower shall not be required to pay any additional amounts pursuant to this Section 2.16(a) with respect to Taxes that are attributable to such Lender's failure to fully comply with Section 2.16(c) and/or the certifications provided by such Lender being inaccurate.
Appears in 2 contracts
Samples: Revolving Credit Facility (Nordstrom Inc), Revolving Credit Facility (Nordstrom Inc)
Tax Liabilities Imposed on a Lender. (i) Any and all payments by a the Borrower hereunder or under any of the Credit Loan Documents shall be made, in accordance with the terms hereof and thereof, made free and clear of and without deduction for any and all present Taxes, except as required by Applicable Law. If any Applicable Law (as determined in the good faith discretion of the Agent or future taxesBorrower, levies, imposts, deductions, charges as applicable) requires the deduction or withholdings, and all liabilities with respect thereto, excluding taxes measured by net income and franchise taxes imposed on withholding of any Lender Tax from any such payment by the jurisdiction under Agent or the laws Borrower, then the Agent or the Borrower shall be entitled to make such deduction or withholding upon the basis of which such Lender is organized the information and documentation to be delivered pursuant to subsections (d) and (e) below.
(ii) If the Borrower or transacting business or any political subdivision thereof (all such non-excluded taxes, being hereinafter referred to as “Taxes”). If such Borrower the Agent shall be required by law the Code to withhold or deduct any Taxes Taxes, including United States Federal backup withholding and withholding taxes, from any payment then (A) the Agent shall withhold or in respect of any sum payable hereunder make such deductions as are determined by the Agent to any Lenderbe required based upon the information and documentation it has received pursuant to subsections (d) and (e) below, (iB) the Agent shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with the Code, and (C) to the extent the withholding or deduction is made on account of Taxes other than Excluded Taxes, the sum payable by the Borrower shall be increased as may be necessary so that after any required withholding or the making of all required deductions (including deductions applicable to additional sums payable under this Section 4.42.16) such Lender the applicable Recipient receives an amount equal to the sum it would have received had no such withholding or deductions been made. Notwithstanding any other provision of this Section 2.16, (ii) such the Borrower shall make not be required to pay any additional amounts pursuant to this Section 2.16(a) with respect to Taxes that are attributable to such deductions, (iiiXxxxxx’s failure to fully comply with Section 2.16(d) such Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law, and (ive) and/or the certifications provided by such Borrower shall deliver to such Lender evidence of such payment to the relevant Governmental AuthorityXxxxxx being inaccurate.
Appears in 2 contracts
Samples: Revolving Credit Facility (Nordstrom Inc), Revolving Credit Facility (Nordstrom Inc)
Tax Liabilities Imposed on a Lender. Any and all payments by a the Borrower hereunder or under any of the Credit Documents shall be made, in accordance with the terms hereof and thereof, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding taxes measured by net income and franchise taxes imposed on any Lender by the jurisdiction under the laws of which such Lender is organized or transacting business or any political subdivision thereof (all such non-excluded taxes, being hereinafter referred to as “"Taxes”"). If such the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder to any Lender, (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 4.44.2) such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) such the Borrower shall make such deductions, (iii) such the Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law, and (iv) such the Borrower shall deliver to such Lender evidence of such payment to the relevant therelevant Governmental Authority.
Appears in 2 contracts
Samples: Letter of Credit Agreement (Consolidated Natural Gas Co/Va), Letter of Credit Agreement (Dominion Resources Inc /Va/)
Tax Liabilities Imposed on a Lender. Any and all payments payment by a the Borrower hereunder or under any of the Credit Loan Documents shall be made, in accordance with the terms hereof and thereof, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding taxes measured by net income and franchise taxes imposed on any Lender by the jurisdiction under the laws of which such Lender is organized or transacting business or any political subdivision thereof (all such non-excluded taxes, being hereinafter referred to as “"Taxes”"). If such the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder to any Lender, (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 4.4) such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) such the Borrower shall make such deductions, (iii) such the Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law, and (iv) such the Borrower shall deliver to such Lender evidence of such payment to the relevant Governmental Authority.Lender
Appears in 1 contract
Tax Liabilities Imposed on a Lender. (i) Any and all payments by a the Borrower hereunder or under any of the Credit Loan Documents shall be made, in accordance with the terms hereof and thereof, made free and clear of and without deduction for any and all present Taxes, except as required by Applicable Law. If any Applicable Law (as determined in the good faith discretion of the Agent or future taxesBorrower, levies, imposts, deductions, charges as applicable) requires the deduction or withholdings, and all liabilities with respect thereto, excluding taxes measured by net income and franchise taxes imposed on withholding of any Lender Tax from any such payment by the jurisdiction under Agent or the laws Borrower, then the Agent or the Borrower shall be entitled to make such deduction or withholding upon the basis of which such Lender is organized the information and documentation to be delivered pursuant to subsections (c) and (d) below.
(ii) If the Borrower or transacting business or any political subdivision thereof (all such non-excluded taxes, being hereinafter referred to as “Taxes”). If such Borrower the Agent shall be required by law the Code to withhold or deduct any Taxes Taxes, including United States Federal backup withholding and withholding taxes, from any payment then (A) the Agent shall withhold or in respect of any sum payable hereunder make such deductions as are determined by the Agent to any Lenderbe required based upon the information and documentation it has received pursuant to subsections (d) and (e) below, (iB) the Agent shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with the Code, and (C) to the extent the withholding or deduction is made on account of Taxes other than Excluded Taxes, the sum payable by the Borrower shall be increased as may be necessary so that after any required withholding or the making of all required deductions (including deductions applicable to additional sums payable under this Section 4.42.16) such Lender the applicable Recipient receives an amount equal to the sum it would have received had no such withholding or deductions been made. Notwithstanding any other provision of this Section 2.16, (ii) such the Borrower shall make not be required to pay any additional amounts pursuant to this Section 2.16(a) with respect to Taxes that are attributable to such deductions, (iiiLender’s failure to fully comply with Section 2.16(d) such Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law, and (ive) such Borrower shall deliver to and/or the certifications provided by such Lender evidence of such payment to the relevant Governmental Authoritybeing inaccurate.
Appears in 1 contract