Common use of Taxes on Conversions Clause in Contracts

Taxes on Conversions. The Issuers will pay any and all taxes that may be payable in respect of the issue or delivery of Equity Interests on conversion of Securities pursuant hereto. The Issuers 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 Equity Interests in a name other than that of the Holder of the Security or Securities to be converted, and no such issue or delivery shall be made unless and until the Person requesting such issue has paid to the Issuers the amount of any such tax, or has established to the satisfaction of the Issuers that such tax has been paid.

Appears in 4 contracts

Samples: Indenture (Teekay Offshore Finance Corp.), Indenture (Teekay LNG Finance Corp.), Indenture (Teekay LNG Finance Corp.)

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Taxes on Conversions. The Issuers Issuer will pay any and all transfer taxes that may be payable in respect of the issue or delivery of Equity Interests shares of Common Stock on conversion of Securities pursuant heretothereto. The Issuers Issuer 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 Equity Interests shares of Common Stock in a name other than that of the Holder of the Security or Securities to be converted, and no such issue or delivery shall be made unless and until the Person requesting such issue has paid to the Issuers Issuer the amount of any such tax, or has established to the satisfaction of the Issuers Issuer that such tax has been paid.

Appears in 3 contracts

Samples: Indenture (Murphy Oil Corp /De), Indenture (Murphy Oil Corp /De), Indenture (Murphy Oil Corp /De)

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Taxes on Conversions. The Issuers Issuer will pay any and all taxes that may be payable in respect of the issue or delivery of Equity Interests shares of Common Stock on conversion of Securities pursuant hereto. The Issuers Issuer 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 Equity Interests shares of Common Stock in a name other than that of the Holder of the Security or Securities to be converted, and no such issue or delivery shall be made unless and until the Person requesting such issue has paid to the Issuers Issuer the amount of any such tax, or has established to the satisfaction of the Issuers Issuer that such tax has been paid.

Appears in 2 contracts

Samples: Senior Subordinated Indenture (Belco Oil & Gas Corp), Senior Subordinated Indenture (Belco Oil & Gas Corp)

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