Common use of Withholding Taxes.  Payments Free of Withholding Clause in Contracts

Withholding Taxes.  Payments Free of Withholding. (a) Except as otherwise required by law and subject to Section 9.13, each payment by any Borrower under this Agreement or the other Loan Documents shall be made without withholding for or on account of any present or future taxes (other than Excluded Taxes) imposed by or within the jurisdiction in which such Borrower is domiciled, any jurisdiction from which such Borrower makes any payment, or any political subdivision or taxing authority thereof or therein. If any such withholding is so required, such Borrower shall make the withholding, pay the amount withheld to the appropriate governmental authority before penalties attach thereto or interest accrues thereon, and forthwith pay such additional amount as may be necessary to ensure that the net amount actually received by the Lender be free and clear of such taxes (including such taxes on such additional amount) is equal to the amount which the Lender would have received had such withholding not been made. If the Lender pays any amount in respect of any such taxes, penalties or interest, such Borrower shall reimburse the Lender for that payment on demand in the currency in which such payment was made. If such Borrower pays any such taxes, penalties or interest, it shall deliver official tax receipts evidencing that payment or certified copies thereof to the Lender on or before the thirtieth day after payment.

Appears in 5 contracts

Samples: Credit Agreement (NT Equity Long/Short Strategies Fund), Credit Agreement (NT Equity Long/Short Strategies Fund), Credit Agreement (NT Alpha Strategies Fund)

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Withholding Taxes.  Payments Free of Withholding. (a) Except as otherwise required by law and subject to Section 9.13law, each payment by any the Borrower under this Agreement or the other Loan Documents shall be made without withholding for or on account of any present or future taxes (other than Excluded Taxes) imposed by or within the jurisdiction in which such the Borrower is domiciled, any jurisdiction from which such the Borrower makes any payment, or any political subdivision or taxing authority thereof or therein. If any such withholding is so required, such the Borrower shall make the withholding, pay the amount withheld to the appropriate governmental authority Governmental Authority before penalties attach thereto or interest accrues thereon, and forthwith pay such additional amount as may be necessary to ensure that the net amount actually received by the Lender be free and clear of such taxes (including such taxes on such additional amount) is equal to the amount which the Lender would have received had such withholding not been made. If the Lender pays any amount in respect of any such taxes, penalties or interest, such the Borrower shall reimburse the Lender for that payment on demand in the currency in which such payment was made. If such the Borrower pays any such taxes, penalties or interest, it shall deliver official tax receipts evidencing that payment or certified copies thereof to the Lender on or before the thirtieth day after payment.

Appears in 1 contract

Samples: Credit Agreement (Alpha Core Strategies Fund)

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