Common use of Grossing-up of Payments Clause in Contracts

Grossing-up of Payments. 6.2.1 If the Borrower or any other person (whether or not a Party , or on behalf of a party) must at any time deduct or withhold any tax or other amount from any sum paid or payable by or receive or receivable from, the Borrower under this Agreement, the Borrower shall pay such additional amount as is necessary to ensure that the Lender receive on the due date and retains (free from any liability other than tax on its own overall net income) a net sum equal to what it would have received and so retained had no such deduction or withholding been required or made.