Common use of Taxation of Lenders Clause in Contracts

Taxation of Lenders. The foreign Lenders shall not be subject to taxation or withholding tax in Bangladesh in accordance with the applicable Statutory Regulatory Order (SRO) in effect as on Bid Date in respect of their income from interest arising from loans extended to the Company under the Financing Documents during the term of the Power Purchase Agreement subject, however, to the fulfillment of all applicable conditions specified in the relevant bilateral tax treaty applicable to each Lender’s country in conjunction with the Income Tax Ordinance, 1984 (Ord. No. XXXVI of 1984), amended at the time the related Financing Documents become effective.

Taxation of Lenders. The foreign Lenders shall not be subject to taxation or withholding tax in Bangladesh in accordance with the applicable Statutory Regulatory Order (SRO) in effect as on Bid Date .2019 in respect of their income from interest arising from loans extended to the Company under the Financing Documents during the term of the Power Purchase Agreement subject, however, to the fulfillment of all applicable conditions specified in the relevant bilateral tax treaty applicable to each Lender’s country in conjunction with the Income Tax Ordinance, 1984 (Ord. No. XXXVI of 1984), amended at the time the related Financing Documents become effective.

Taxation of Lenders. The foreign Lenders shall not be subject to taxation or withholding tax in Bangladesh in accordance with the applicable prevailing Statutory Regulatory Order (SRO) in effect as on Bid Date and any subsequent amendment thereof in respect of their income from interest and fees arising from loans extended to the Company under the Financing Documents during the term of the Power Purchase Agreement subject, however, to the fulfillment of all applicable conditions specified in the relevant bilateral tax treaty applicable to each Lender’s country in conjunction with the Income Tax Ordinance, 1984 (Ord. No. XXXVI of 1984), amended at the time the related Financing Documents become effective.