Common use of Tax Saving Clause in Contracts

Tax Saving. 12.4.1. In the event that following the imposition of any Tax on any payment by the Borrower in consequence of which the Borrower is required, under clause 12.1, to pay any additional amount in respect thereof, any Bank shall, in its sole opinion and based on its own interpretation of any relevant laws or regulations (but acting in good faith), receive or be granted a repayment of Tax, or a credit against, or remission for, or deduction from, or in respect of, any Tax payable by it (any of the aforegoing, to the extent so reasonably identifiable and quantifiable, being referred to as “a saving”), such Bank shall, to the extent that it can do so without prejudice to the retention of the relevant saving and subject to the Borrower’s obligation to repay the amount to such Bank, if the relevant saving is subsequently disallowed or cancelled (which repayment shall be made promptly on receipt of notice by the Borrower from such person of such disallowance or cancellation), reimburse the Borrower promptly after receipt of such saving by such Bank with such amount equal to the lower of: (i) the additional amount paid by the Borrower in respect of such Tax under clause 12.1 as aforesaid; and (ii) such amount as such Bank shall, in its sole opinion but in good faith, have concluded to be the finally determined amount or value of the relevant saving. 12.4.2. Nothing contained in this Agreement shall interfere with the right of any Bank to arrange its Tax and other affairs in whatever manner it thinks fit and, in particular, no Bank shall be under any obligation to claim relief from Tax on its corporate profits, or from any similar Tax liability, in respect of the Tax, or to claim relief in priority to any other claims, reliefs, credits or deductions available to it or to disclose details of its Tax affairs. No Bank shall be required to disclose any confidential information relating to the organisation of its affairs. 12.4.3. Each Bank will notify the Borrower promptly of the receipt by such Bank of any saving and of such Bank’s opinion as to the amount or value of that saving.

Tax Saving. 12.4.1. In the event that following the imposition of any Tax on any payment by the Borrower in consequence of which the Borrower is required, under clause 12.1, to pay any additional amount in respect thereof, any Bank shall, in its sole opinion and based on its own interpretation of any relevant laws or regulations (but acting in good faith), receive or be granted a repayment of Tax, or a credit against, or remission for, or deduction from, or in respect of, any Tax payable by it (any of the aforegoing, to the extent so reasonably identifiable and quantifiable, being referred to as “a saving”"A SAVING"), such Bank shall, to the extent that it can do so without prejudice to the retention of the relevant saving and subject to the Borrower’s 's obligation to repay the amount to such Bank, if the relevant saving is subsequently disallowed or cancelled (which repayment shall be made promptly on receipt of notice by the Borrower from such person of such disallowance or cancellation), reimburse the Borrower promptly after receipt of such saving by such Bank with such amount equal to the lower of: (i) the additional amount paid by the Borrower in respect of such Tax under clause 12.1 as aforesaid; and (ii) such amount as such Bank shall, in its sole opinion but in good faith, have concluded to be the finally determined amount or value of the relevant saving. 12.4.2. Nothing contained in this Agreement shall interfere with the right of any Bank to arrange its Tax and other affairs in whatever manner it thinks fit and, in particular, no Bank shall be under any obligation to claim relief from Tax on its corporate profits, or from any similar Tax liability, in respect of the Tax, or to claim relief in priority to any other claims, reliefs, credits or deductions available to it or to disclose details of its Tax affairs. No Bank shall be required to disclose any confidential information relating to the organisation of its affairs. 12.4.3. Each Bank will notify the Borrower promptly of the receipt by such Bank of any saving and of such Bank’s 's opinion as to the amount or value of that saving.

Tax Saving. 12.4.1. 9.4.1 In the event that following the imposition of any Tax on any payment by the Borrower in consequence of which the Borrower is required, under clause 12.19.1, to pay any additional amount in respect thereof, any the Bank shall, in its sole opinion and based on its own interpretation of any relevant laws or regulations (but acting in good faith), receive or be granted a repayment of Tax, or a credit against, or remission for, or deduction from, or in respect of, any Tax payable by it (any of the aforegoing, to the extent so reasonably identifiable and quantifiable, being referred to as “a saving”), such the Bank shall, to the extent that it can do so without prejudice to the retention of the relevant saving and subject to the Borrower’s obligation to repay the amount to such the Bank, if the relevant saving is subsequently disallowed or cancelled (which repayment shall be made promptly on receipt of notice by the Borrower from such person of such disallowance or cancellation), reimburse the Borrower promptly after receipt of such saving by such the Bank with such amount equal to the lower of: (i) the additional amount paid by the Borrower in respect of such Tax under clause 12.1 9.1 as aforesaid; and (ii) such amount as such the Bank shall, in its sole opinion but in good faith, have concluded to be the finally determined amount or value of the relevant saving. 12.4.2. 9.4.2 Nothing contained in this Agreement shall interfere with the right of any the Bank to arrange its Tax and other affairs in whatever manner it thinks fit and, in particular, no the Bank shall be under any no obligation to claim relief from Tax on its corporate profits, or from any similar Tax liability, in respect of the Tax, or to claim relief in priority to any other claims, reliefs, credits or deductions available to it or to disclose details of its Tax affairs. No The Bank shall not be required to disclose any confidential information relating to the organisation of its affairs. 12.4.3. Each Bank will notify the Borrower promptly of the receipt by such Bank of any saving and of such Bank’s opinion as to the amount or value of that saving.

Tax Saving. 12.4.17.3.1. In the event that following the imposition of any Tax on any payment by the Borrower to the Lender in consequence of which the Borrower is required, under clause 12.17.2 above, to pay any additional amount in respect thereof, any Bank shall, in its sole opinion and based on its own interpretation of any relevant laws the Lender has received or regulations (but acting in good faith), receive or be been granted a repayment of Tax, or a credit against, or remission for, or deduction from, or in respect of, any Tax payable by it (any of the aforegoing, to the extent so reasonably identifiable and quantifiable, being referred to as “a saving”), such Bank the Lender shall, to the extent that it can do so without prejudice to the retention of the relevant saving saving, and subject to the Borrower’s obligation to repay the amount to such Bankthe Lender, if the relevant saving is subsequently disallowed or cancelled (which repayment shall be made promptly on receipt of notice by the Borrower from such person the Lender of such disallowance or cancellation), reimburse the Borrower promptly after receipt of such saving by such Bank the Lender with such amount equal to the lower of: (ia) the additional amount paid by the Borrower in respect of such Tax under clause 12.1 7.2 above as aforesaid, together with applicable interest under the Adjudication of Interest and Linkage Law, 5721-1961; and (iib) such amount as such Bank shall, in its sole opinion but in good faith, have concluded to be the finally determined amount or value of the relevant saving. 12.4.27.3.2. Nothing contained in this Agreement shall interfere with the right of any Bank the Lender to arrange its Tax and other affairs in whatever manner it thinks fit and, in particular, no Bank the Lender shall not be under any obligation to claim relief from Tax on its corporate profits, or from any similar Tax liability, in respect of the Tax, or to claim relief in respect of the amount paid by the Borrower in priority to any other claims, reliefs, credits or deductions available to it or to disclose details of its Tax affairs. 7.3.3. No Bank The Lender shall notify the Borrower promptly of the receipt of any saving and of the amount or value of such saving. The Lender shall not be required to disclose any confidential information relating to the organisation or administration of its affairs. 12.4.3. Each Bank will notify the Borrower promptly of the receipt by such Bank of any saving and of such Bank’s opinion as to the amount or value of that saving.

Tax Saving. 12.4.17.3.1. In the event that following the imposition of any Tax on any payment by the Borrower to the Lender in consequence of which the Borrower is required, under clause 12.17.2 above, to pay any additional amount in respect thereof, any Bank shall, in its sole opinion and based on its own interpretation of any relevant laws the Lender has received or regulations (but acting in good faith), receive or be been granted a repayment of Tax, or a credit against, or remission for, or deduction from, or in respect of, any Tax payable by it (any of the aforegoing, to the extent so reasonably identifiable and quantifiable, being referred to as “a saving”), such Bank the Lender shall, to the extent that it can do so without prejudice to the retention of the relevant saving saving, and subject to the Borrower’s obligation to repay the amount to such Bankthe Lender, if the relevant saving is subsequently disallowed or cancelled (which repayment shall be made promptly on receipt of notice by the Borrower from such person the Lender of such disallowance or cancellation), reimburse the Borrower promptly after receipt of such saving by such Bank the Lender with such amount equal to the lower of: (ia) the additional amount paid by the Borrower in respect of such Tax under clause 12.1 7.2 above as aforesaid, together with applicable interest under the Adjudication of Interest and Linkage Law, 5721—1961; and (iib) such amount as such Bank shall, in its sole opinion but in good faith, have concluded to be the finally determined amount or value of the relevant saving. 12.4.27.3.2. Nothing contained in this Agreement shall interfere with the right of any Bank the Lender to arrange its Tax and other affairs in whatever manner it thinks fit and, in particular, no Bank the Lender shall not be under any obligation to claim relief from Tax on its corporate profits, or from any similar Tax liability, in respect of the Tax, or to claim relief in respect of the amount paid by the Borrower in priority to any other claims, reliefs, credits or deductions available to it or to disclose details of its Tax affairs. 7.3.3. No Bank The Lender shall notify the Borrower promptly of the receipt of any saving and of the amount or value of such saving. The Lender shall not be required to disclose any confidential information relating to the organisation or administration of its affairs. 12.4.3. Each Bank will notify the Borrower promptly of the receipt by such Bank of any saving and of such Bank’s opinion as to the amount or value of that saving.