No Credit for Payment of Taxes or Imposition Sample Clauses
The "No Credit for Payment of Taxes or Imposition" clause establishes that a party cannot claim a credit, reimbursement, or offset for taxes or similar charges paid under the agreement. In practice, this means that if one party is required to pay taxes related to the transaction, they cannot later seek compensation or a reduction in their obligations from the other party due to those tax payments. This clause ensures that each party bears its own tax responsibilities and prevents disputes over tax-related reimbursements, thereby providing clarity and finality regarding tax liabilities within the contract.
No Credit for Payment of Taxes or Imposition. Such Pledgor shall not be entitled to any credit against the principal, premium, if any, or interest payable under the Credit Agreement, and such Pledgor shall not be entitled to any credit against any other sums which may become payable under the terms thereof or hereof, by reason of the payment of any Tax on the Pledged Collateral or any part thereof.
No Credit for Payment of Taxes or Imposition. No Grantor shall be entitled to any credit against the principal, premium, if any, or interest payable under the Credit Agreement, and no Grantor shall be entitled to any credit against any other sums that may become payable under the terms thereof or hereof, by reason of the payment of any Tax on the Pledged Collateral or any part thereof.
No Credit for Payment of Taxes or Imposition. The Company shall not be entitled to any credit against the principal, premium, if any, or interest payable under the Promissory Note, and the Company shall not be entitled to any credit against any other sums which may become payable under the terms thereof or hereof, by reason of the payment of any tax on the Pledged Collateral or any part thereof.
No Credit for Payment of Taxes or Imposition. No Grantor shall be entitled to any credit against the principal, premium, if any, or interest payable under the Credit Agreement, and such Grantor shall not be entitled to any credit against any other sums which may become payable under the terms thereof or hereof, by reason of the payment of any Tax on the Collateral or any part thereof. 36 Schedule 1 Notice Addresses of Subsidiary Grantors Schedule 2 Description of Pledged Securities Schedule 3.1 Commercial Tort Claims Schedule 4 Jurisdiction of Organization and Identification Number Schedule 4.9 Locations of Inventory and Equipment Schedule 4.10 Deposit Accounts, Securities Accounts, Commodity Accounts Schedule 4.11 Letters of Credit Schedule 4.14 Leases Schedule 5 Intellectual Property Annex I Assumption Agreement Annex II Perfection Certificate SENIOR SECURED DEBTOR-IN-POSSESSION COLLATERAL AGREEMENT, dated as of [ ] (this “Agreement”), made among Rotech Healthcare Inc. (the “Borrower”), each of the other signatories party hereto (together with the Borrower and any other entity that may become a party hereto as provided herein, the “Grantors”), in favor of Silver Point Finance, LLC, as collateral agent (in such capacity, the “Collateral Agent”) for the ratable benefit of the Secured Parties (as defined below).
No Credit for Payment of Taxes or Imposition. No Issuer shall be entitled to any credit against the principal, premium, if any, or interest payable under the Security Purchase Agreement or the Securities, or any liquidation preference or dividends under the Preferred Stock Purchase Agreement or the Preferred Stock, and no Issuer shall be entitled to any credit against any other sums which may become payable under the terms thereof or hereof, by reason of the payment of any Tax on the Collateral or any part thereof.