Common use of TREATY LENDERS Clause in Contracts

TREATY LENDERS. A Treaty Lender and each Obligor which makes a payment to which that Treaty Lender is entitled shall co-operate in completing any procedural formalities necessary for that Obligor to obtain authorisation to make that payment without a deduction or withholding for or on account of tax imposed by the United Kingdom. If an Obligor is able to demonstrate that a deduction or withholding for or on account of tax imposed by the United Kingdom is required to be made by it as a result of a Treaty Lender's failure to so co-operate, such an Obligor shall not be liable to pay any increased amount under Clause 10.1 (Tax Gross-Up) as a result of such a deduction or withholding.