Common use of Toyota Motor Credit Corporation Clause in Contracts

Toyota Motor Credit Corporation. This Condition 7(b) only applies to Notes issued by Toyota Motor Credit Corporation. Except as specifically provided by this Condition 7(b), all payments of principal and interest in respect of the Notes issued by the Issuer will be made without withholding or deduction for or on account of any present or future taxes, assessments or duties of whatever nature imposed or levied by or on behalf of the United States or any political subdivision or any authority thereof or therein having power to tax (“Tax”), unless such withholding or deduction is required by law. In such event, the Issuer will, subject to certain limitations and exceptions (set forth below), pay to a Noteholder or Couponholder who is a Non-U.S. Holder (as defined below) such additional amounts (the “Additional Amounts”) as shall be necessary in order that the net amounts receivable by the holders of the Notes or Coupons after such withholding or deduction shall equal the respective amounts of principal and interest which would otherwise have been receivable in respect of the Notes or Coupons, as the case may be, in the absence of such withholding or deduction; except that the Issuer shall not be required to make any payment of Additional Amounts for or on account of: