Common use of REQUEST FOR REFUND Clause in Contracts

REQUEST FOR REFUND. At the reasonable request of the Borrower, each Bank, the Letter of Credit Bank and the Agent shall apply at the Borrower's expense for a refund in respect of Taxes or Other Taxes previously paid by the Borrower pursuant to this Section 0 if in the good faith opinion of such Bank, the Letter of Credit Bank or the Agent there is a reasonable basis for such refund. Notwithstanding the foregoing, none of the Banks, the Letter of Credit Bank or the Agent shall be obligated to pursue such refund if, in the exercise of its good faith judgment, such action would be disadvantageous to it. If any Bank, the letter of Credit Bank or the Agent subsequently receives from a taxing authority a refund of any Tax previously paid by the Borrower and for which the Borrower has indemnified the Bank pursuant to this Section 0, such Bank, the letter of Credit Bank or the Agent, as the case may be, shall within thirty (30) days after receipt of such refund, and to the extent permitted by applicable law, pay to the Borrower the net amount of any such recovery after deducting taxes and expenses attributable thereto.