Common use of Payments of Additional Amounts Clause in Contracts

Payments of Additional Amounts. All payments in respect of the [Class B] Preferred Securities by the Company shall be made without withholding or deduction for or on account of any Relevant Tax, unless the withholding or deduction of such Relevant Tax is required by law. In that event, the Company shall pay, as further dividends, such additional amounts as may be necessary in order that the net amounts received by the [Class B] Preferred Securityholders after such withholding or deduction will equal the amount which would have been received in respect of the [Class B] Preferred Securities in the absence of such withholding or deduction (the "Additional Amounts"), except that no Additional Amounts are payable to a [Class B] Preferred Securityholder (or to a third party on such [Class B] Preferred Securityholder's behalf) with respect to any [Class B] Preferred Securities (i) to the extent that such Relevant Tax is imposed or levied by virtue of such [Class B] Preferred Securityholder (or the beneficial owner of such [Class B] Preferred Securities) having some connection with the Relevant Jurisdiction, other than being a [Class B] Preferred Securityholder (or beneficial owner) of such [Class B] Preferred Securities, (ii) to the extent that such Tax is imposed or levied by virtue of such [Class B] Preferred Securityholder (or beneficial owner) not having made a declaration of non-residence in, or other lack of connection with, the Relevant Jurisdiction or any similar claim for exemption, if the Guarantor or its agent has provided the beneficial owner of such [Class B] Preferred Security or its nominee with at least 60 days' prior written notice of an opportunity to make such a declaration or claim, or (iii) where such withholding or deduction is imposed on a payment to an individual and is required to be made pursuant to any European Union Directive on the taxation of savings implementing the conclusions of the ECOFIN Council meeting of 26-27 November 2000 or any law implementing or complying with, or introduced in order to conform to, [or substantially similar to] such Directive.

Payments of Additional Amounts. All payments in respect of the [Class B] Preferred Securities by the Company shall be made without withholding or deduction for or on account of any Relevant Tax, unless the withholding or deduction of such Relevant Tax is required by law. In that event, the Company shall pay, as further dividends, such additional amounts as may be necessary in order that the net amounts received by the [Class B] Preferred Securityholders after such withholding or deduction will equal the amount which would have been received in respect of the [Class B] Preferred Securities in the absence of such withholding or deduction (the "Additional Amounts"), except that no Additional Amounts are payable to a [Class B] Preferred Securityholder (or to a third party on such [Class B] Preferred Securityholder's behalf) with respect to any [Class B] Preferred Securities (i) to the extent that such Relevant Tax is imposed or levied by virtue of such [Class B] Preferred Securityholder (or the beneficial owner of such [Class B] Preferred Securities) or a Holder or beneficial owner of Trust Securities having some connection with the Relevant Jurisdiction, other than being a [Class B] Preferred Securityholder (or beneficial owner) of such [Class B] Preferred Securities, Securities or a beneficial owner of Trust Securities (ii) to the extent that such Relevant Tax is imposed or levied by virtue of such [Class B] Preferred Securityholder (or beneficial owner) or a beneficial owner of Trust Securities not having made a declaration of non-residence in, or other lack of connection with, the Relevant Jurisdiction or any similar claim for exemption, if the Guarantor or its agent has provided the beneficial owner of such [Class B] Preferred Security Securities or Trust Securities or its nominee with at least 60 days' prior written notice of an opportunity to make such a declaration or claim, or (iii) where such withholding or deduction is imposed on a payment to an individual and is required to be made pursuant to any European Union Directive on the taxation of savings implementing the conclusions of the ECOFIN Council meeting of 26-27 November 2000 June 3, 2003 or any law implementing or complying with, or introduced in order to conform to, [to or substantially similar to] to such Directive.