Common use of Qualifying Lender Clause in Contracts

Qualifying Lender. Funding 1 shall not be required to pay an additional amount as referred to in CLAUSE 10.1 (Gross-up) above in respect of any deduction or withholding for or on account of any Taxes levied or imposed by the United Kingdom (or any taxing authority of or in the United Kingdom) from a payment of interest, if on the date on which the payment falls due: (a) the payment could have been made to the Funding 1 Liquidity Facility Provider in the absence of a deduction or withholding for or on account of any Taxes if the Funding 1 Liquidity Facility Provider were a Qualifying Lender, but on that date the Funding 1 Liquidity Facility Provider is not or has ceased to be a Qualifying Lender other than as a result of any change occurring after the date of this Agreement in (or in the interpretation, administration or application of) any law or regulation or applicable Double Taxation Treaty or any published practice or concession of any relevant Tax authority; (i) the Funding 1 Liquidity Facility Provider is a Qualifying Lender solely because it is a UK Non-Bank Lender; (iii) the payment could have been made to the Funding 1 Liquidity Facility Provider without any deduction or withholding for or on account of Tax in the absence of that Direction; (c) the Funding 1 Liquidity Facility Provider is a Treaty Lender and Funding 1 is able to demonstrate that the additional amounts referred to in CLAUSE 10.1 (Gross-up) above would not have been required if the Funding 1 Liquidity Facility Provider had complied with its obligations under CLAUSE 10.6 (Treaty Lender) below.

Qualifying Lender. Funding 1 shall not be required to pay an additional amount as referred to in CLAUSE Clause 10.1 (Gross-up) above in respect of any deduction or withholding for or on account of any Taxes levied or imposed by the United Kingdom (or any taxing authority of or in the United Kingdom) from a payment of interest, if on the date on which the payment falls due: (a) the payment could have been made to the Funding 1 Liquidity Facility Provider in the absence of a deduction or withholding for or on account of any Taxes if the Funding 1 Liquidity Facility Provider were a Qualifying Lender, but on that date the Funding 1 Liquidity Facility Provider is not or has ceased to be a Qualifying Lender other than as a result of any change occurring after the date of this Agreement in (or in the interpretation, administration or application of) any law or regulation or applicable Double Taxation Treaty or any published practice or concession of any relevant Tax authority; (i) the Funding 1 Liquidity Facility Provider is a Qualifying Lender solely because it is a UK Non-Bank Lender; (ii) the Board of the United Kingdom Inland Revenue has given (and not revoked) a direction (a Direction) under Section 349C ICTA (as that provision has effect on the date of this Agreement) which relates to such payment and Funding 1 has notified the Funding 1 Liquidity Facility Provider of the precise terms of that notice; and (iii) the payment could have been made to the Funding 1 Liquidity Facility Provider without any deduction or withholding for or on account of Tax in the absence of that Direction; (c) the Funding 1 Liquidity Facility Provider is a Treaty Lender and Funding 1 is able to demonstrate that the additional amounts referred to in CLAUSE Clause 10.1 (Gross-up) above would not have been required if the Funding 1 Liquidity Facility Provider had complied with its obligations under CLAUSE Clause 10.6 (Treaty Lender) below.

Qualifying Lender. Funding 1 shall not be required to pay an additional amount as referred to in CLAUSE 10.1 (Gross-up) above in respect of any deduction or withholding for or on account of any Taxes levied or imposed by the United Kingdom (or any taxing authority of or in the United Kingdom) from a payment of interest, if on the date on which the payment falls due: (a) the payment could have been made to the Funding 1 Liquidity Facility Provider in the absence of a deduction or withholding for or on account of any Taxes if the Funding 1 Liquidity Facility Provider were a Qualifying Lender, but on that date the Funding 1 Liquidity Facility Provider is not or has ceased to be a Qualifying Lender other than as a result of any change occurring after the date of this Agreement in (or in the interpretation, administration or application of) any law or regulation or applicable Double Taxation Treaty or any published practice or concession of any relevant Tax authority; (i) the Funding 1 Liquidity Facility Provider is a Qualifying Lender solely because it is a UK Non-Bank Lender; (ii) the Board of the United Kingdom Inland Revenue has given (and not revoked) a direction (a DIRECTION) under Section 349C ICTA (as that provision has effect on the date of this Agreement) which relates to such (iii) the payment could have been made to the Funding 1 Liquidity Facility Provider without any deduction or withholding for or on account of Tax in the absence of that Direction; (c) the Funding 1 Liquidity Facility Provider is a Treaty Lender and Funding 1 is able to demonstrate that the additional amounts referred to in CLAUSE 10.1 (Gross-up) above would not have been required if the Funding 1 Liquidity Facility Provider had complied with its obligations under CLAUSE 10.6 (Treaty Lender) below.

Qualifying Lender. Funding 1 shall not be required to pay an additional amount as referred to in CLAUSE 10.1 10(1) (Gross-up) above in respect of any deduction or withholding for or on account of any Taxes levied or imposed by the United Kingdom (or any taxing authority of or in the United Kingdom) from a payment of interest, if on the date on which the payment falls due: (a) the payment could have been made to the Funding 1 Liquidity Facility Provider or replacement liquidity facility provider (as applicable) in the absence of a deduction or withholding for or on account of any Taxes if the Funding 1 Liquidity Facility Provider or replacement liquidity facility provider (as applicable) were a Qualifying Lender, but on that date the Funding 1 Liquidity Facility Provider or replacement liquidity facility provider is not or has ceased to be a Qualifying Lender other than as a result of any change occurring after the date of this Agreement in (or in the interpretation, administration or application of) any law or regulation or applicable Double Taxation Treaty or any published practice or concession of any relevant Tax authority; (i) the Funding 1 Liquidity Facility Provider is a Qualifying Lender solely because it or replacement liquidity finance provider (as applicable) is a UK Non-Bank Lender; (iii) the payment could , or would have been made a UK Non-Bank Lender were it not for the introduction of, change to the Funding 1 Liquidity Facility Provider without any deduction or withholding for or on account of Tax change in the absence interpretation, administration or application of that Direction;any law or regulation or any published practice or concession of the United Kingdom Inland Revenue occurring after the date of this Agreement; and (c) the Funding 1 Liquidity Facility Provider or the replacement liquidity facility provider (as applicable) is a Treaty Lender and Funding 1 is able to demonstrate that the additional amounts referred to in CLAUSE 10.1 (Gross-up) above would not have been required if the Funding 1 Liquidity Facility Provider or the replacement liquidity facility provider (as applicable) had complied with its obligations under CLAUSE 10.6 (Treaty Lender) below.

Qualifying Lender. Funding 1 shall not be required to pay an additional amount as referred to in CLAUSE Clause 10.1 (Gross-up) above in respect of any deduction or withholding for or on account of any Taxes levied or imposed by the United Kingdom (or any taxing authority of or in the United Kingdom) from a payment of interest, if on the date on which the payment falls due: (a) the payment could have been made to the Funding 1 Liquidity Facility Provider or replacement liquidity facility provider (as applicable) in the absence of a deduction or withholding for or on account of any Taxes if the Funding 1 Liquidity Facility Provider or replacement liquidity facility provider (as applicable) were a Qualifying Lender, but on that date the Funding 1 Liquidity Facility Provider or replacement liquidity facility provider is not or has ceased to be a Qualifying Lender other than as a result of any change occurring after the date of this Agreement in (or in the interpretation, administration or application of) any law or regulation or applicable Double Taxation Treaty or any published practice or concession of any relevant Tax authority; (i) the Funding 1 Liquidity Facility Provider is a Qualifying Lender solely because it or replacement liquidity facility provider (as applicable) is a UK Non-Bank Lender; (iii) the payment could , or would have been made a UK Non-Bank Lender were it not for the introduction of, change to the Funding 1 Liquidity Facility Provider without any deduction or withholding for or on account of Tax change in the absence interpretation, administration or application of that Direction;any law or regulation or any published practice or concession of the United Kingdom Inland Revenue occurring after the date of this Agreement; and (c) the Funding 1 Liquidity Facility Provider or the replacement liquidity facility provider (as applicable) is a Treaty Lender and Funding 1 is able to demonstrate that the additional amounts referred to in CLAUSE Clause 10.1 (Gross-up) above would not have been required if the Funding 1 Liquidity Facility Provider or the replacement liquidity facility provider (as applicable) had complied with its obligations under CLAUSE Clause 10.6 (Treaty Lender) below.