Common use of Collecting Agent Clause in Contracts

Collecting Agent. (a) Unless a Lender notifies the Facility Agent to the contrary, each Lender confirms to the Facility Agent on the date that it becomes a Lender that it is beneficially entitled to its share in each Loan and its accrued interest and is either: (i) not resident for tax purposes in the U.K.; or (ii) a bank for the purposes of section 349 of the Income and Corporation Taxes ▇▇▇ ▇▇▇▇. Each Lender must promptly notify the Facility Agent if there is any change in its position from that set out in sub-paragraph (i) or (ii) above. (b) An Obligor is not required to make a Tax Payment to that Lender as a result of: (i) that Lender not giving the confirmation referred to in paragraph (a) above; or (ii) the confirmation of that Lender being incorrect at the time it is given, unless this is caused by any change after the date of this Agreement in (or in the interpretation, administration or application of) any law or double taxation agreement or any published practice or concession of any relevant taxing authority.

Collecting Agent. (a) Unless a Lender notifies the Facility Agent to the contrary, each Lender confirms to the Facility Agent on the date that it becomes a Lender that it is beneficially entitled to its share in each Loan and its accrued interest and is either: : (i) not resident for tax purposes in the U.K.; or or (ii) a bank for the purposes of section 349 of the Income and Corporation Taxes ▇▇▇ ▇▇▇▇. Each Lender must promptly notify the Facility Agent if there is any change in its position from that set out in sub-paragraph (i) or (ii) above. (b) An Obligor is not required to make a Tax Payment to that Lender as a result of: : (i) that Lender not giving the confirmation referred to in paragraph (a) above; or or (ii) the confirmation of that Lender being incorrect at the time it is given, unless this is caused by any change after the date of this Agreement in (or in the interpretation, administration or application of) any law or double taxation agreement or any published practice or concession of any relevant taxing authority.