Common use of Qualifying Lender Clause in Contracts

Qualifying Lender. An Obligor is not required to make an increased payment to a Lender under Clause 14.2 (Tax gross-up and tax indemnity) for any deduction as set out therein in respect of tax imposed in Ireland from a payment of interest under this Agreement, if on the date on which the payment falls due the payment could have been made to the relevant Lender without such deduction if it was a Qualifying Lender, but on that date that Lender is not or has ceased to be a Qualifying Lender other than as a result of any change after the date it became a Lender under this Agreement in (or in the interpretation, administration, or application of) any law or treaty, or any published practice or concession of any relevant taxing authority.