Common use of Payments and Taxes Accounts and Calculations Clause in Contracts

Payments and Taxes Accounts and Calculations. 8.1 No set-off or counterclaim; distribution to the Banks All payments to be made by the Borrower under this Agreement shall be made in full, without any set-off or counterclaim whatsoever and, subject as provided in clause 8.7, free and clear of any deductions or withholdings, in Sterling on the due date to the account of the Agent at such bank in London as the Agent may from time to time specify for this purpose. Save as otherwise expressly provided by this Agreement such payments shall be for the account of the Banks and the Agent shall forthwith distribute such payments in like funds as are received by the Agent to the Banks rateably in accordance with their Commitments and/or Contributions, as the case may be.

Payments and Taxes Accounts and Calculations. 8.1 No set-off or counterclaim; distribution to the Banks All payments to be made by the Borrower under this Agreement shall be made in full, without any set-off or counterclaim whatsoever and, subject as provided in clause 8.7, free and clear of any deductions or withholdings, in Sterling on the due date to the account of the Agent at such bank in London as the Agent may from time to time specify for this purpose. Save as otherwise expressly provided by this Agreement such payments shall be for the account of the Banks Banks, and the Agent shall forthwith distribute such payments in like funds as are received by the Agent to the Banks rateably in accordance with their Commitments and/or Contributions, as the case may be.