Common use of Tax Withholding; Restrictions on Payment Clause in Contracts

Tax Withholding; Restrictions on Payment. All payments hereunder shall be made free and clear of any taxes, duties, levies, fees or charges, except for withholding taxes (to the extent applicable). If applicable law requires that taxes be withheld from any amounts due Ramot under this Agreement, Predix shall make any applicable withholding payments due on behalf of Ramot and shall promptly provide Ramot with a statement including the amount of tax withheld and justification therefore, and such other written documentation regarding any such payment as available to Predix relating to an application by Ramot for a foreign tax credit for such payment. If by law, regulations or fiscal policy of a particular country in the Territory, remittance of royalties in United States Dollars is restricted or forbidden, written notice thereof shall promptly be given to Ramot, and payment of the royalty shall be made by the deposit thereof in local currency to the credit of Ramot in a recognized banking institution reasonably designated by Ramot by written notice to Predix. Ramot shall be responsible for paying all income taxes attributable to Ramot as a result of its receipt of funds hereunder, to the extent applicable.