Common use of TAXES; TAX TREATMENT Clause in Contracts

TAXES; TAX TREATMENT. (a) All payments made by Seller to Buyer under this Agreement shall be made free and clear of, and without deduction or withholding for or on account of any current or future Taxes. If Seller is required by law to deduct or withhold any Taxes from or in respect of any amount payable to a Buyer hereunder, it shall: (i) make such deduction or withholding; (ii) pay the amount so deducted or withheld to the appropriate Governmental Authority not later than the date when due; (iii) deliver to Buyer, as promptly as possible, copies of any receipts of such Taxes paid or other evidence reasonably satisfactory to Buyer of the payment when due of the full amount of such Taxes; and (iv) pay to Buyer such additional amounts (an “Additional Amount”) as may be necessary so that such Buyer receives a net amount equal to the amount it would have received under this Agreement if no deduction or withholding of Taxes had been made.

Appears in 4 contracts

Samples: Master Repurchase Agreement (Pennymac Financial Services, Inc.), Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (Pennymac Financial Services, Inc.)

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TAXES; TAX TREATMENT. (a) All payments made by the Seller to Buyer under this Repurchase Agreement shall be made free and clear of, and without deduction or withholding for or on account of any current or future TaxesTaxes except as required by Applicable Law. If the Seller is required by law Applicable Law to deduct or withhold any Taxes from or in respect of any amount payable to a Buyer hereunder, it shall: (i1) make such deduction or withholding; (ii2) pay the amount so deducted or withheld to the appropriate Governmental Authority not later than the date when due; (iii3) deliver to the Buyer, as promptly as possiblepromptly, copies of any original Tax receipts of such Taxes paid or and other evidence reasonably satisfactory to the Buyer of the payment when due of the full amount of such Taxes; and (iv4) in the case of Indemnified Taxes as defined herein, pay to the Buyer such additional amounts (an “Additional Amount”) as may be necessary so that such the Buyer receives receives, free and clear of all Indemnified Taxes, a net amount equal to the amount it would have received under this Agreement Repurchase Agreement, as if no such deduction or withholding of Taxes had been made. In addition, the Seller agrees to pay to the relevant Governmental Authority in accordance with Applicable Law any Other Taxes.

Appears in 3 contracts

Samples: Master Repurchase Agreement and Securities Contract (Home Point Capital Inc.), Master Repurchase Agreement and Securities Contract (Home Point Capital Inc.), Master Repurchase Agreement and Securities Contract (Home Point Capital Inc.)

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TAXES; TAX TREATMENT. (a) All payments made by a Seller to a Buyer under this Agreement shall be made free and clear of, and without deduction or withholding for or on account of any current or future Taxes. If a Seller is required by law to deduct or withhold any Taxes from or in respect of any amount payable to a Buyer hereunder, it shall: (i) make such deduction or withholding; (ii) pay the amount so deducted or withheld to the appropriate Governmental Authority not later than the date when due; (iii) deliver to Buyer, as promptly as possible, copies of any receipts of such Taxes paid or other evidence reasonably satisfactory to Buyer of the payment when due of the full amount of such Taxes; and (iv) pay to Buyer such additional amounts (an “Additional Amount”) as may be necessary so that such Buyer receives a net amount equal to the amount it would have received under this Agreement if no deduction or withholding of Taxes had been made.

Appears in 2 contracts

Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)

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