Common use of Taxes on Conversions Clause in Contracts

Taxes on Conversions. The Borrower will pay any and all original issuance, transfer, stamp and other similar taxes that may be payable in respect of the issue or delivery of shares of its Common Shock on conversion of Notes and any accrued and unpaid Interest thereon pursuant hereto. The Borrower shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of shares of its CDnow Common Stock in a name other than that of a Lender or other holder of the Note, portion thereof or Interest thereon to be converted, and no such issue or delivery shall be made unless and until the person requesting such issue has paid to the Borrower the amount of any such tax, or has established to the satisfaction of the Borrower that such tax has been paid.

Taxes on Conversions. The Borrower will pay any and all original issuance, transfer, stamp and other similar taxes that may be payable in respect of the issue or delivery of shares of its Common Shock Stock on conversion of Notes and any accrued and unpaid Interest thereon pursuant hereto. The Borrower shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of shares of its CDnow Common Stock in a name other than that of a the Lender or other holder of the Note, portion thereof or Interest interest thereon to be converted, and no such issue or delivery shall be made unless and until the person requesting such issue has paid to the Borrower the amount of any such tax, or has established to the satisfaction of the Borrower that such tax has been paid.

Taxes on Conversions. The Borrower will pay any and all original issuance, transfer, stamp and other similar taxes that may be payable in respect of the issue or delivery of shares of its Common Shock on conversion of Notes and any accrued and unpaid Interest thereon pursuant hereto. The Borrower shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of shares of its CDnow CDNOW Common Stock in a name other than that of a the Lender or other holder of the Note, portion thereof or Interest thereon to be converted, and no such issue or delivery shall be made unless and until the person requesting such issue has paid to the Borrower the amount of any such tax, or has established to the satisfaction of the Borrower that such tax has been paid.