Common use of Value Added Taxes Clause in Contracts

Value Added Taxes. (a) All amounts expressed to be payable under an Interim Document by any Party to an Interim Finance Party shall (unless otherwise agreed) be deemed to be exclusive of any VAT. Subject to paragraph (b) below, if VAT is chargeable on any supply made by any Interim Finance Party to any Party in connection with an Interim Document that Party shall pay to the Interim Finance Party (in addition to and at the same time as paying the consideration for that supply) an amount equal to the amount of the VAT (in each case unless the paying Party is obliged by law to account directly to the tax authorities for such VAT under the reverse charge procedure provided for by Article 196 of the EC Council Directive 2006/112 and/or any relevant tax provisions of the jurisdiction in which the Party receives such supply, in which case the paying Party will pay the relevant amount of VAT to the relevant tax authorities). Any obligation of a Party to pay any amount in respect of VAT pursuant to this Clause 10.6 is subject to the relevant Interim Finance Party promptly providing an appropriate invoice to such Party. (b) Where an Interim Document requires any Party to reimburse an Interim Finance Party for any cost or expense, that Party shall reimburse such Interim Finance Party for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that the Interim Finance Party reasonably determines that it or any other member of any group of which it is a member for VAT or other Tax purposes is entitled to credit for or repayment of the VAT. (c) Any reference in this Clause 10.6 to any Party shall, at any time when such Party is treated as a member of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the group at such time.

Value Added Taxes. (a) All amounts expressed to be payable under an Interim Document by any Party to an Interim Finance Party shall (unless otherwise agreed) be deemed to be exclusive of any VAT. Subject to paragraph (b) below, if VAT is chargeable on any supply made by any Interim Finance Party to any Party in connection with an Interim Document that Party shall pay to the Interim Finance Party (in addition to and at the same time as paying the consideration for that supply) an amount equal to the amount of the VAT (in each case unless the paying Party is obliged by law to account directly to the tax authorities for such VAT under the reverse charge procedure provided for by Article 196 of the EC Council Directive 2006/112 and/or any relevant tax provisions of the jurisdiction in which the Party receives such supply, in which case the paying Party will pay the relevant amount of VAT to the relevant tax authorities). Any obligation of a Party to pay any amount in respect of VAT pursuant to this Clause 10.6 is subject to the relevant Interim Finance Party promptly providing an appropriate invoice to such Party. (b) Where an Interim Document requires any Party to reimburse an Interim Finance Party for any cost or expense, that Party shall reimburse such Interim Finance Party for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that the Interim Finance Party reasonably determines that it or any other member of any group of which it is a member for VAT or other Tax purposes is entitled to credit for or repayment of the VAT. (c) Any reference in this Clause 10.6 to any Party shall, at any time when such Party is treated as a member of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the group at such time.