The Bank’s Right of Advance Deduction Sample Clauses

The Bank’s Right of Advance Deduction. Any amounts paid by the Bank to the Undersigned shall comply with all applicable domestic and foreign laws, including the requirements for the deduction of any withholding tax, limitations on foreign exchange or control regulations. The Undersigned agrees and undertakes that the Bank may deduct, or be requested to perform any deduction of, any tax payable from the amount required to be paid to the Undersigned according to the aforementioned applicable domestic and foreign laws, and deposit such amount into the miscellaneous entries or other accounts, and/or temporarily keep such amount under custody, until the applicability of such tax withholding deduction requirement or foreign exchange restrictions or control regulations is determined. The Bank shall not be liable for any losses incurred due to such deduction of withholding tax, temporary custody or deposit.
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Related to The Bank’s Right of Advance Deduction

  • ADVANCE PAYMENTS PROHIBITED No payments in advance of or in anticipation of goods or services to be provided under this contract shall be made by the AGENCY.

  • Right of Set-Off Upon (i) the occurrence and during the continuance of any Event of Default and (ii) the making of the request or the granting of the consent specified by Section 6.01 to authorize the Agent to declare the Notes due and payable pursuant to the provisions of Section 6.01, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement and the Note held by such Lender, whether or not such Lender shall have made any demand under this Agreement or such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify the Borrower after any such set-off and application, provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of each Lender and its Affiliates under this Section are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender and its Affiliates may have.

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