Common use of WITHHOLDING TAXES AND LEVIES Clause in Contracts

WITHHOLDING TAXES AND LEVIES. Unless a law requires otherwise, the Bank will make all payments under this Agreement free and clear of, and without withholding of or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature. If a law does so require, the Subsidiary or, as the case may be, the Bank shall deduct and withhold the amount so required, remit it to the relevant taxing authority within the time required and pay such additional amount as is necessary to ensure the Bondholders receive such amounts as would have been received by them had no such withholding or deduction been required.

WITHHOLDING TAXES AND LEVIES. Unless a law requires otherwise, the Bank will make all payments under this Agreement free and clear of, and without withholding of or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature. If a law does so require, the Subsidiary or, as the case may be, the Bank shall deduct and withhold the amount so required, remit it to the relevant taxing authority within the time required and pay such additional amount as is necessary to ensure the Bondholders Noteholders receive such amounts as would have been received by them had no such withholding or deduction been required.