Value Added. TAX (a) All consideration payable under a Finance Document by ABB or the Borrowers to a Finance Party shall be deemed to be exclusive of any VAT. If VAT is chargeable, ABB or the Borrowers (as the case may be) shall pay to the Finance Party (in addition to and at the same time as paying the consideration) an amount equal to the amount of the VAT.
Appears in 1 contract
Sources: Multi Currency Revolving Credit Agreement (Abb LTD)
Value Added. TAX (a) All consideration payable under a Finance Document by ABB or the Borrowers to a Finance Party shall be deemed to be exclusive of any VAT. If VAT is chargeablechargeable on any supply made by any Finance Party to ABB or the Borrowers in connection with a Finance Document, ABB or the Borrowers (as the case may be) shall pay to the Finance Party (in addition to and at the same time as paying the consideration) an amount equal to the amount of the VAT.
Appears in 1 contract
Sources: Facilities Agreement (Abb LTD)
Value Added. TAX (a) All consideration payable under a Finance Document by ABB or the Borrowers an Obligor to a Finance Party shall be deemed to be exclusive of any VAT. If VAT is chargeable, ABB or the Borrowers (as the case may be) Obligor shall pay to the Finance Party (in addition to and at the same time as paying the consideration) an amount equal to the amount of the VAT.
Appears in 1 contract
Sources: Credit Agreement (Sappi LTD)