Common use of Net of Taxes Etc Clause in Contracts

Net of Taxes Etc. (a) Any and all payments to the Bank by the Agency hereunder shall be made free and clear of and without withholding or deduction for any and all Indemnified Taxes. If the Agency shall be required by law to withhold or deduct any Indemnified Taxes 4833-0482-6414.3 imposed by the United States or any political subdivision thereof from or in respect of any sum payable hereunder to the Bank, then (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.4), the Bank receives an amount equal to the sum it would have received had no such deductions been made,

Net of Taxes Etc. T-19609.003/1388688.doc (a) Any and all payments to the Bank by the Agency hereunder shall be made free and clear of and without withholding or deduction for any and all Indemnified Taxes. If the Agency shall be required by law to withhold or deduct any Indemnified Taxes 4833-0482-6414.3 imposed by the United States or any political subdivision thereof from or in respect of any sum payable hereunder to the Bank, then (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.4), the Bank receives an amount equal to the sum it would have received had no such deductions been made,