No Deduction for Certain Taxes. Any and all payments by the Borrower shall be made, in accordance with Section 2.10, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding, in the case of each Bank, each Issuing Bank, and the Agent, taxes imposed on its income, and franchise taxes imposed on it, by the jurisdiction under the laws of which such Bank, such Issuing Bank, or the Agent (as the case may be) is organized or any political subdivision of the jurisdiction (all such nonexcluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter referred to as "Taxes") and, in the case of each Bank and each Issuing Bank, Taxes by the jurisdiction of such Bank's Applicable Lending Office or any political subdivision of such jurisdiction. If the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable to any Bank, any Issuing Bank, or the Agent, (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 2.11), such Bank, such Issuing Bank, or the Agent (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made; provided, however, that if the Borrower's obligation to deduct or withhold Taxes is caused solely by such
Appears in 3 contracts
Sources: Credit Agreement (Arkansas Best Corp /De/), Credit Agreement (Arkansas Best Corp /De/), Credit Agreement (Arkansas Best Corp /De/)
No Deduction for Certain Taxes. Any and all payments by the Borrower each Obligor shall be made, in accordance with Section 2.10, made free and clear of and without deduction for any and all present or and future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding, in the case of each Bank, each Issuing Bank, and the AgentSecured Party, taxes imposed on its income, and franchise taxes imposed on it, income by the jurisdiction under the laws of which such Bank, such Issuing Bank, or the Agent (as the case may be) Secured Party is organized or any political subdivision of the jurisdiction (all such nonexcluded non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter referred to as "“Taxes"”) and, in the case of each Bank and each Issuing BankSecured Party, Taxes by the jurisdiction of such Bank's Applicable Lending Secured Party’s Funding Office or any political subdivision of such jurisdiction. If the Borrower any Obligor shall be required by law to deduct any Taxes from or in respect of any sum payable to any Bank, any Issuing Bank, or the AgentSecured Party, (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 2.114.1), such Bank, such Issuing Bank, or the Agent (as the case may be) Secured Party receives an amount equal to the sum it would have received had no such deductions been made; provided, however, that if (ii) such Obligor shall make such deductions; and (iii) such Obligor shall pay the Borrower's obligation full amount deducted to deduct the relevant taxation authority or withhold Taxes is caused solely by suchother authority in accordance with Applicable Law.
Appears in 3 contracts
Sources: Credit Agreement (Transatlantic Petroleum Ltd.), Credit Agreement (Transatlantic Petroleum Ltd.), Credit Agreement (Transatlantic Petroleum Ltd.)
No Deduction for Certain Taxes. Any and all payments by the Borrower each Obligor shall be made, in accordance with Section 2.10, made free and clear of and without deduction for any and all present or and future taxes, levies, imposts, deductions, charges or withholdings, withholdings (including any FATCA Deduction) and all liabilities with respect thereto, excluding, in the case of each Bank, each Issuing Bank, and the AgentSecured Party, taxes imposed on its income, and franchise taxes imposed on it, income by the jurisdiction under the laws of which such Bank, such Issuing Bank, or the Agent (as the case may be) Secured Party is organized or any political subdivision of the jurisdiction (all such nonexcluded non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter referred to as "“Taxes"”) and, in the case of each Bank and each Issuing BankSecured Party, Taxes by the jurisdiction of such Bank's Applicable Lending Secured Party’s Funding Office or any political subdivision of such jurisdiction. If the Borrower any Obligor shall be required by law to deduct any Taxes from or in respect of any sum payable to any Bank, any Issuing Bank, or the AgentSecured Party, (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 2.114.1), such Bank, such Issuing Bank, or the Agent (as the case may be) Secured Party receives an amount equal to the sum it would have received had no such deductions been made; provided, however, that if (ii) such Obligor shall make such deductions; and (iii) such Obligor shall pay the Borrower's obligation full amount deducted to deduct the relevant taxation authority or withhold Taxes is caused solely by suchother authority in accordance with Applicable Law.
Appears in 2 contracts
Sources: Credit Agreement (Transatlantic Petroleum Ltd.), Credit Agreement (Transatlantic Petroleum Ltd.)
No Deduction for Certain Taxes. Any and all payments by the Borrower hereunder or under the Notes shall be made, in accordance with Section 2.10, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding, in the case of each Bank, each the Issuing Bank, Bank and the Agent, taxes imposed on its income, and franchise taxes imposed on it, by the jurisdiction under the laws of which such Bank, such the Issuing Bank, Bank or the Agent (as the case may be) is organized or any political subdivision of the jurisdiction thereof (all such nonexcluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter referred to as "Taxes") and, in the case of each Bank, the Issuing Bank and each Issuing Bankthe Agent, Taxes by the jurisdiction of such Bank's or the Issuing Banks Applicable Lending Office or any political subdivision of such jurisdictionthereof. If the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable to any the Bank, any the Issuing Bank, Bank or the Agent, (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 2.11), such Bank, such the Issuing Bank, Bank or the Agent (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made; provided, however, that if the Borrower's obligation to deduct or withhold Taxes is caused solely by such(
Appears in 1 contract
Sources: Credit Agreement (Valhi Inc /De/)
No Deduction for Certain Taxes. Any and all payments by the Borrower each Obligor shall be made, in accordance with Section 2.10, made free and clear of and without deduction for any and all present or and future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding, in the case of each Bank, each Issuing Bank, and the AgentSecured Party, taxes imposed on its income, and franchise taxes imposed on it, income by the jurisdiction under the laws of which such Bank, such Issuing Bank, or the Agent Secured Party (as the case may be) is organized or any political subdivision of the jurisdiction (all such nonexcluded non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter referred to as "“Taxes"”) and, in the case of each Bank and each Issuing BankSecured Party, Taxes by the jurisdiction of such Bank's Applicable Lending Secured Party’s Funding Office or any political subdivision of such jurisdiction. If the Borrower any Obligor shall be required by law to deduct any Taxes from or in respect of any sum payable to any Bank, any Issuing Bank, or the AgentSecured Party, (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 2.113.1), such Bank, such Issuing Bank, Secured Party or the Administrative Agent (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made; provided, however, that if (ii) such Obligor shall make such deductions and (iii) such Obligor shall pay the Borrower's obligation full amount deducted to deduct the relevant taxation authority or withhold Taxes is caused solely by suchother authority in accordance with Applicable Law.
Appears in 1 contract