Tax Provisions. (i) Indemnifiable Tax. Notwithstanding the definition of "Indemnifiable Tax" in Section 14 of this Agreement, all Taxes in relation to payments by Party A shall be Indemnifiable Taxes unless (i) such Taxes are assessed directly against Party B and not by deduction or withholding by Party A or (ii) arise as a result of a Change in Tax Law (in which case such Tax shall be an Indemnifiable Tax only if such Tax satisfies the definition of Indemnifiable Tax provided in Section 14). In relation to payments by Party B, no Tax shall be an Indemnifiable Tax, unless the Tax is due to a Change in Tax Law and otherwise satisfies the definition of Indemnifiable Tax provided in Section 14.
Appears in 10 contracts
Samples: Trust Agreement (BCAP LLC Trust 2007-Aa2), Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2007-Nc2), Pooling and Servicing Agreement (EquiFirst Loan Securitization Trust 2007-1)
Tax Provisions. (i) Indemnifiable Tax. Notwithstanding the definition of "Indemnifiable Tax" in Section 14 of this Agreement, all Taxes in relation to payments by Party A shall be Indemnifiable Taxes unless (i) such Taxes are assessed directly against Party B and not by deduction or withholding by Party A or (ii) arise as a result of a Change in Tax Law (in which case such Tax shall be an Indemnifiable Tax only if such Tax satisfies the definition of Indemnifiable Tax provided in Section 14). In relation to payments by Party B, no Tax shall be an Indemnifiable Tax, unless the Tax is due to a Change in Tax Law and otherwise satisfies the definition of Indemnifiable Tax provided in Section 14.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (BCAP LLC Trust 2007-Aa5), Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2007-Br1), Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2007-Nc1)
