Common use of Taxes and Other Deductions Clause in Contracts

Taxes and Other Deductions. All sums payable by the Borrower under this Deed shall be paid in full without set-off or counterclaim or any restriction or condition and free and clear of any tax (other than an Excluded Tax) or other deductions or withholdings of any nature. If the Borrower or any other person is required by any law or regulation to make any deduction or withholding (on account of tax (other than an Excluded Tax) or otherwise) from any payment for the account of the Junior Lender, the Borrower shall, together with such payment, pay such additional amount as will ensure that the Junior Lender receives (free and clear of any tax (other than an Excluded Tax) or other deductions or withholdings) the full amount which it would have received if no such deduction or withholding had been required. The Borrower shall promptly forward to the Junior Lender copies of official receipts or other evidence showing that the full amount of any such deduction or withholding has been paid over to the relevant taxation or other authority.

Taxes and Other Deductions. All sums payable by the Borrower Junior Creditors under this Deed shall be paid in full without set-off or counterclaim or any restriction or condition and free and clear of any tax (other than an Excluded Tax) or other deductions or withholdings of any nature. If the Borrower any Junior Creditor or any other person is are required by any law or regulation to make any deduction or withholding (on account of tax (other than an Excluded Tax) or otherwise) from any payment for the account of the Junior LenderSenior Creditors, the Borrower relevant Junior Creditor shall, together with such payment, pay such additional amount as will ensure that the Junior Lender receives Senior Creditors receive (free and clear of any tax (other than an Excluded Tax) or other deductions or withholdings) the full amount which it they would have received if no such deduction or withholding had been required. The Borrower Junior Creditors shall promptly forward to the Junior Lender Senior Creditors copies of official receipts or other evidence showing that the full amount of any such deduction or withholding has been paid over to the relevant taxation or other authority.