Common use of Additional Amounts Clause in Contracts

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 4 contracts

Sources: Indenture (CGG), Indenture (CGG Marine B.V.), Indenture (CGG Marine B.V.)

Additional Amounts. (1) All payments made by or on behalf of the Company or any Guarantor under the Subsidiary Guarantors on or with respect to the Notes or the Note Guarantees will pursuant to this Indenture shall be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and Taxes imposed by any other liability with respect thereto) (“Taxes”)Canadian Taxing Authority, unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authorityCanadian Taxing Authority. If the Company or any Subsidiary Guarantor (or any Paying Agentother payor) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Canadian Taxing Jurisdiction”) Authority from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, it shall: (i) make such withholding or deduction; (ii) remit the full amount deducted or withheld to the relevant government authority in accordance with applicable law; (iii) pay the additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder each holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder the holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (biv) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect furnish to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishHolders, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable lawdue, to the Trustee, certified copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or such Subsidiary Guarantor; (v) indemnify and hold harmless each Holder (other than an Excluded Holder, as defined in paragraph (2) below) for the amount of (a) any Guarantor. The Trustee will make Taxes paid by each such evidence available Holder as a result of payments made on or with respect to the Holders upon request. At Notes, (b) any liability (including penalties, interest and expenses) arising from or with respect to such payments and (c) any Taxes imposed with respect to any reimbursement under the foregoing clauses (a) or (b), but excluding any such Taxes that are in the nature of Taxes on net income, taxes on capital, franchise taxes, net worth taxes and similar taxes; and (vi) at least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Subsidiary Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior payment, deliver to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. (2) Notwithstanding the provisions of paragraph (1) above, no Additional Amounts shall be payable to a person (an “Excluded Holder”) in respect of a payment made to such person under or with respect to a Note: (i) if such person is subject to such Taxes by reason of its being connected with Canada or any province or territory thereof otherwise than by the mere acquisition, holding or disposition of Notes or the receipt of payments thereunder; (ii) if such person waives its right to receive Additional Amounts; (iii) if the Company or such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Income Tax Act (Canada), with such person at the time of such payment; (iv) if the Company or such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Income Tax Act (Canada), with another person to whom the Company or such Subsidiary Guarantor has an obligation to pay an amount in respect of the Note; or (v) to the extent that the Taxes giving rise to such Additional Amounts would not have been imposed but for such person being, or not dealing at arm’s-length (within the meaning of the Income Tax Act (Canada)) with, a “specified shareholder” of the Company for purposes of the thin capitalization rules in the Income Tax Act (Canada). Whenever in this Indenture there is mentionedAny reference, in any contextcontext in this Indenture, (a) to the payment of principal (and principal, premium, if any), (b) purchase prices in connection with a purchase redemption price, Change of the NotesControl Amount, (c) offer price and interest or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNote, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)payable. The obligations of the Company or any Guarantor described in under this Section 4.21 4.20 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company or any Guarantor Subsidiary Guarantor, as applicable, is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department organized or any political subdivision or taxing authority or agency thereof or therein. It is understood for purposes of this Section 4.20 that the determination of the amount of Additional Amounts shall be made at the beneficial owner level.

Appears in 4 contracts

Sources: Indenture (Videotron Ltee), Indenture (Quebecor Media Inc), Indenture (Quebecor Media Inc)

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agenta Guarantor, if any) or other applicable withholding agent is so required by law to deduct or withhold taxes imposed by Bermuda or deduct any amount for or another Relevant Tax Jurisdiction on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (eachpayments to Holders, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor it will pay to each any Holder of the Notes that are outstanding on the date of the required payment, such so entitled all additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as that may be necessary so that the net every Net Payment of interest, principal, premium or other amount received by such Holder (including the Additional Amounts) after such withholding beneficial owner on that Note or deduction the Note Guarantee will not be less than the amount such Holder would have received if such Taxes had not been withheld provided for in that Note or deducted, provided that no Additional Amounts will be payable with respect to any Note:the Note Guarantee. (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of The Company (and Guarantors, if any) will also indemnify and reimburse Holders for: (1) Taxes (including any interest, penalties and related expenses) imposed on the date on which such payment first became due and Holders (2) or if the full amount payable has a Holder is not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due dateowner, the date on which, the full amount having been so received, notice to that effect shall have been given beneficial owner) by a Relevant Tax Jurisdiction if and to the Holders or the beneficial owners by the Trustee, except to the same extent that the a Holder would have been entitled to such Additional Amounts receive additional amounts if the Company (or a Guarantor) or other applicable withholding agent had been required to deduct or withhold those taxes from payments on surrendering such the Notes or the Note for payment on Guarantees; and (2) Stamp, court, documentary or similar taxes or charges (including any day during interest, penalties and related expenses) imposed by a Relevant Tax Jurisdiction in connection with the applicable 30-day period;execution, delivery, enforcement or registration of the Notes or the Note Guarantees or other related documents and obligations. (b) if The Company (or a Guarantor) will not pay additional amounts to any TaxHolder for or on account of any of the following: (1) Any tax, assessment or other governmental charge imposed solely because at any time there is imposed or withheld by reason was a connection between such Holder (or between a fiduciary, settlor, beneficiary, member or shareholder of or possessor of power over the failure to comply by relevant Holder if the Holder oris an estate, nominee, trust, partnership, limited liability company, or corporation) and the Relevant Tax Jurisdiction imposing the tax (other than the mere receipt of a payment or the acquisition, ownership, disposition or holding of, or enforcement of rights under, a Note or the Note Guarantees); (2) Any estate, inheritance, gift or any similar tax, assessment or other governmental charge; (3) Any tax, assessment or other governmental charge imposed solely because such Holder (or if differentsuch Holder is not the beneficial owner, the beneficial owner of the Note owner) fails to comply with a request addressed to such Holder or beneficial owner to provide informationany certification, documents identification or other evidence reporting requirement concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction taxing jurisdiction of such Holder or any beneficial owner which of the Note or the Note Guarantees, if compliance is required by law or imposed by an applicable income tax treaty to which the jurisdiction imposing the tax is a statuteparty, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to an exemption from all or part of such the tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge;charge for which such Holder is eligible and the Company (or a Guarantor) has given the Holders at least 60 days’ notice that Holders will be required to provide such information and identification; and (e4) except in the case of the winding up of the Company Any tax, assessment or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment other governmental charge with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any a Note or a Note Guarantee to any Holder who is a fiduciary or partnership or other presented for payment more than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under became due and payable or with respect the date on which payment thereof is duly provided for and notice thereof given to Holders, whichever occurs later, except to the Notes or extent that such Holder of the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver would have been entitled to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes additional amounts on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or presenting the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on any date during the Notes and any department or any political subdivision thereof or therein30-day period.

Appears in 4 contracts

Sources: Indenture (Aircastle LTD), Indenture (Aircastle LTD), Indenture (Aircastle LTD)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (hereinafter “Taxes”), ) unless the Company withholding or any Guarantor (or any Paying Agent) deduction of such Taxes is then required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of the government of the Republic of ▇▇▇▇▇▇▇▇ Islands or any political subdivision or any authority or agency therein or thereof having power to tax, or any other jurisdiction in which the Company or any Guarantor (including any successor entitiesentity) is then organized or is otherwise resident for Tax purposes or any political subdivision thereof or therein tax purposes, or any jurisdiction by from or through which payment is made (eachincluding, without limitation, the jurisdiction of each paying agent) (each a “Relevant Taxing Specified Tax Jurisdiction”) ), will at any time be required to be made from any payment payments made under or with respect to the Notes or the Note Guarantees, the Notes. The Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received in respect of such payments by such a Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted; provided, provided however, that no the foregoing obligation to pay Additional Amounts will be payable with respect to any Notedoes not apply to: (a1) surrendered by any Taxes that would not have been so imposed but for the Holder or the beneficial owner thereof of the Notes having any present or former connection with the Specified Tax Jurisdiction (other than the mere acquisition, ownership, holding, enforcement or receipt of payment in respect of the Notes); (2) any estate, inheritance, gift, sales, excise, transfer, personal property tax or similar tax, assessment or governmental charge; (3) any Taxes payable other than by deduction or withholding from payments under, or with respect to, the Notes; (4) any Taxes imposed as a result of the failure of the Holder or beneficial owner of the Notes to complete, execute and deliver to the Company any form or document to the extent applicable to such Holder or beneficial owner that may be required by law or by reason of administration of such law and which is reasonably requested in writing to be delivered to the Company in order to enable the Company to make payments on the Notes without deduction or withholding for Taxes, or with deduction or withholding of a lesser amount, which form or document will be delivered within 60 days of a written request therefor by the Company; (5) any Taxes that would not have been so imposed but for the beneficiary of the payment having presented a Note for payment of principal (in cases in which presentation is required) more than 30 days after the later of (1) the date on which such payment first or such Note became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on whichwhich payment thereof is duly provided for, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, whichever is later (except to the extent that the Holder would have been entitled to such Additional Amounts had the Note been presented on surrendering the last day of such Note for payment on any day during the applicable 30-day period); (b6) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction imposed on or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any the Holder who if such Holder is a fiduciary or partnership or Person other than the sole beneficial owner of such payment payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such partnership or the beneficial owner of such payment would not have been entitled to any Additional Amounts had such beneficiary or settlor beneficiary, settlor, member or beneficial owner been the Holderactual Holder of such Note; (h7) on account of any Tax Taxes that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is are required to be made by reason of that deducted or withheld on a payment being (x) paid pursuant to a bank account opened in a financial institution established inEuropean Council Directive 2003/48/EC or any law implementing, or (y) paid or accrued introduced in order to a person established or domiciled inconform to, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantordirective; or (m) on account of 8) any combination of the items (1) through (7) above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts . (to the extent received from the relevant tax authorities in the usual course or as generally providedb) evidencing that such payment has been made by If the Company or any Guarantor. The Trustee becomes aware that it will make such evidence available be obligated to the Holders upon request. At least 30 days prior pay Additional Amounts with respect to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payableNotes, if the Company or any Guarantor becomes obligated will deliver to pay Additional Amounts with respect the Trustee and Paying Agent at least 30 days prior to such the date of that payment (unless such the obligation to pay Additional Amounts arises after the 30th day prior to the date on which that payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each notify the Trustee and Paying Agent promptly thereafter but in no event later than two Business Days prior to the date of payment) an Officers’ Officer’s Certificate stating the fact that such Additional Amounts will be payable, payable and the amount so payable and will payable. The Officer’s Certificate shall also set forth such any other information as necessary to enable such the Paying Agent to pay such Additional Amounts to Holders on the relevant payment date. The Trustee and Paying Agent will be entitled to rely solely on such Officer’s Certificate as conclusive proof that such payments are necessary. The Company will provide the Trustee and Paying Agent with documentation evidencing the payment of Additional Amounts. (c) The Company will make all withholdings and deductions required by law and will remit the full amount deducted or withheld to the relevant governmental authority on a timely basis in accordance with applicable law. As soon as practicable, the Company will provide the Trustee and Paying Agent with an official receipt or, if official receipts are not obtainable, other documentation evidencing the payment of the Taxes so withheld or deducted. Upon request, copies of those receipts or other documentation, as the case may be, will be made available by the Trustee and Paying Agent to the Holders of the Notes on the payment date. Notes. (d) Whenever in the Indenture or this First Supplemental Indenture there is mentionedreferenced, in any context, (a) the payment of amounts based upon the principal (and premium, if any), (b) purchase prices in connection with a purchase amount of the NotesNotes or of principal, (c) interest or (d) any other amount payable on under, or with respect to any of to, the Notes or the Note GuaranteesNotes, such mention is reference will be deemed to include mention of the payment of Additional Amounts provided for in as described under this section heading to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. . (e) The Company will indemnify a Holder, within 10 Business Days after written demand therefor, for the full amount of any Taxes paid by such Holder to a governmental authority of a Specified Tax Jurisdiction, on or with respect to any payment by on or account of any obligation of the Company to withhold or deduct an amount on account of Taxes for which the Company would have been obliged to pay Additional Amounts hereunder and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant governmental authority. A certificate as to the amount of such payment or liability delivered to the Company by a Guarantor, as the case may be, Holder will be conclusive absent manifest error. (f) The Company will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Specified Tax Jurisdiction from the initial issue execution, delivery, enforcement or registration of the Notes Notes, the Indenture or on any other document or instrument in relation thereof, or the enforcement receipt of any payments with respect to the Notes, any Note Guarantee, and the Indenture or any other document related thereto (limited, in case of Taxes attributable to Company will indemnify the receipt of payments thereto, to Holders for any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer taxes paid by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinHolders.

Appears in 4 contracts

Sources: First Supplemental Indenture (Atlas Corp.), First Supplemental Indenture (Atlas Corp.), First Supplemental Indenture (Atlas Corp.)

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Subsidiary Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”) imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law under the laws of the Relevant Taxing Jurisdiction or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a Relevant Taxing Jurisdiction”) Jurisdiction from any payment made under or with respect to the Notes or the Note Subsidiary Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in all other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder or the beneficial owner would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Taxtax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner (ayant-droit) of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or the beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Subsidiary Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Taxtax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such any Note is surrendered for payment in the Republic of France; (f) on account as a result of any Taxes that are payable otherwise than by deduction combination of (a), (b), (c), (d) or withholding from a payment with respect to the Notes (e) or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Subsidiary Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (hg) on account of any Tax that such withholding or deduction is imposed or levied on a payment to a Luxembourg resident individual and is required to be made pursuant to sections 1471 through 1474 the Luxembourg law of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”)23 December 2005; (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (kh) when such withholding or deduction for French taxes is required to be made by reason of that payment interest being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (li) in case of Taxes which are payable otherwise than by withholding or deduction from a payment made under or with respect to the Notes; (j) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (mk) Any combination of items (a) through (j) above. Notwithstanding any other provision of this Indenture, all amounts to be paid on account the Notes by or on behalf of the Company or by any Guarantor, will be paid net of any combination deduction or withholding imposed or required pursuant to an agreement described in Section 1471(b) of the aboveU.S. Internal Revenue Code of 1986, as amended (the “Code”), or otherwise imposed pursuant to Sections 1471 through 1474 of the Code (or any regulations thereunder or official interpretations thereof) or an intergovernmental agreement between the United States and another jurisdiction facilitating the implementation thereof (or any fiscal or regulatory legislation, rules or practices implementing such an intergovernmental agreement) (any such withholding or deduction, a “FATCA Withholding”). Neither the Company nor any other person, including any Guarantor, will be required to pay any Additional Amounts in respect of FATCA Withholding. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Subsidiary Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Subsidiary Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Subsidiary Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Subsidiary Guarantee, the Indenture or any other document documents related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (ka) and (l) or any combination of items through (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 4.19 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company Issuer or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 4 contracts

Sources: Indenture (CGG), Indenture (CGG Marine B.V.), Indenture (CGG Marine B.V.)

Additional Amounts. All payments made Unless required by law, each Issuer and each Guarantor shall pay all amounts of principal of, and any premium and interest on, any Notes, without deduction or on behalf of the Company or withholding for any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future taxtaxes, dutylevies, levyimposts, impostduties, assessment assessments or other governmental charge charges (including without limitation, any penalties, interest and any other liability with respect additions to tax related thereto) (“Taxes”), unless the Company ) imposed by any jurisdiction where any Issuer or any Guarantor (or any Paying Agentsuccessor thereto) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by is, at the relevant taxing authority. If the Company time, organized, resident or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount doing business for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein tax purposes, or any jurisdiction by from or through which any Issuer or Guarantor makes any payment is made on the Notes, as the case may be (each, a “Relevant Taxing Jurisdiction”) from ). If deduction or withholding of any payment made under of these charges by any applicable withholding agent is required by a Taxing Jurisdiction, the applicable Issuer or with respect the applicable Guarantor, as the case may be, subject to the Notes or the Note Guaranteesexceptions listed below, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such any additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that to make the net amount paid to the affected beneficial owners equal the amount the beneficial owners would have received in the absence of the deduction or withholding (including any deduction or withholding attributable to the additional amounts). However, these Additional Amounts shall not be paid on account of: (1) the amount of any Tax imposed by the United States or any political subdivision thereof; (2) the amount of any Tax imposed by any government of any jurisdiction other than a Taxing Jurisdiction; (3) the amount of any Tax that is only payable because either (A) a present or former connection exists between the Holder or beneficial owner of the Notes and a Taxing Jurisdiction other than a connection resulting from the purchase, ownership or disposition of such Holder Notes (including the Additional Amountsenforcement of rights thereunder or the receipt of payments in respect thereof), or (B) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof presented the Notes for payment of principal more than 30 days after the later of (1) the date on which such the relevant payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due datewas provided for, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day periodwhichever is later; (b4) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, excise, value added, personal property or other similar Tax, assessment or other governmental charge; (e5) except in the amount of any Tax that is not required to be deducted or withheld by an applicable withholding agent from any payment by the applicable Issuer or the applicable Guarantor, as the case of may be, on the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of FranceNotes; (f6) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account amount of any Tax that is imposed or withheld due to the Holder or beneficial owner of the Notes failing to accurately comply with a request from the applicable Issuer or the applicable Guarantor (or any successor thereto), as the case may be, either to provide information concerning the Holder’s or beneficial owner’s nationality, residence or identity or to satisfy any information or reporting requirement, in each case, to the extent the Holder or beneficial owner is legally eligible to do so, or to present the relevant Note (if certificated) if such action is required by the Taxing Jurisdiction as a precondition to exemption from, or reduction in, the applicable Tax; (7) any tax imposed pursuant to sections Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, of the Issue Date (the “Code”), or any amended or successor version that is substantively comparable and not materially more onerous to comply with) any regulations thereunder or other official guidance thereunderinterpretations thereof, or any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States and another jurisdiction implementing the foregoing or any law implementing such an intergovernmental agreement; or (8) any combination of Taxes described in clauses (1), (2), (3), (4), (5), (6) or (7) above. Additionally, no Additional Amounts shall be paid with respect to any of the foregoing, payment to any Holder who is a fiduciary or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding companyother than the sole beneficial owner of such Notes to the extent that the beneficiary or settlor with respect to such fiduciary, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when the member of such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder partnership or the beneficial owner of such Notes would not have been entitled to Additional Amounts had such beneficiary, settlor, member or beneficial owner held such Notes directly. It is understood that the Note concurrently being Trustee shall have no responsibility whatsoever to determine if a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes Additional Amounts is due pursuant or to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that calculate any such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment dateamounts. Whenever in this Indenture there is mentioned, in any context, (a) the payment of amounts based upon the principal (and premiumof or any premium or interest on, if any)or in respect of, (b) purchase prices in connection with a purchase any Notes or of the Notes, (c) interest or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNotes, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section Section 2.15 to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereofthereof pursuant to the provisions of this Section 2.15 and express mention of the payment of Additional Amounts in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made. The Company or a Guarantor, as obligation to pay Additional Amounts under the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) terms and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor conditions described in this Section 4.21 2.15 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinIndenture.

Appears in 4 contracts

Sources: Indenture (Nielsen Holdings PLC), Indenture (Nielsen Holdings PLC), Indenture (Nielsen Holdings PLC)

Additional Amounts. (a) All payments made by or on behalf of the Company Issuer under or with respect to the Notes, or by or on behalf of any Guarantor under or with respect to the Notes or the Note Guarantees any Subsidiary Guarantee, will be made free and clear of and without withholding or deduction for or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitationhereinafter, penalties, interest and any other liability with respect thereto) (“Taxes”) imposed or levied by or on behalf of any jurisdiction in which the Issuer or any such Guarantor (each such Person, a “Payor”) is organized, resident or carrying on business for tax purposes or from or through which such Payor (or its agents) makes any payment on the Notes or any Subsidiary Guarantee, or any department or political subdivision thereof (each, a “Relevant Taxing Jurisdiction”), unless the Company or any Guarantor (or any Paying Agent) such Person is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritythereof. If the Company or any Guarantor (or any Paying Agent) a Payor is so required to withhold or deduct any amount of interest for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guaranteesany Subsidiary Guarantee, the Company or any such Guarantor Payor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) interest (“Additional Amounts”) as may be necessary so that the net amount received by such Holder each holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder the holder would have received if such Taxes had not been withheld or deducted, ; provided that no Additional Amounts will be payable with respect to any Note:a payment made to a holder (an “Excluded Holder”): (ai) surrendered which is subject to such Taxes by reason of any connection between such holder and the Holder Relevant Taxing Jurisdiction other than the mere holding of Notes or the beneficial owner thereof for payment receipt of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day periodpayments thereunder; (bii) if any Tax, assessment or other governmental charge is imposed or withheld by reason which failed to duly and timely comply with a timely request of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner Issuer to provide information, documents documents, certification or other evidence concerning the such holder’s nationality, residence, entitlement to treaty benefits, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any GuarantorJurisdiction, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment and to the extent that due and timely compliance with such request would have resulted in the reduction or elimination of any Taxes as to which Additional Amounts would have otherwise been payable to such holder of Notes but for this clause (ii); (iii) which is a beneficiary fiduciary, a partnership or settlor not the beneficial owner of any payment on a Note, if and to the extent that, as a result of an applicable tax treaty, no Additional Amounts would have been payable had the beneficiary, partner or beneficial owner would not have been entitled owned the Note directly (but only if there is no material cost or expense associated with transferring such Note to any Additional Amounts had such beneficiary or settlor beneficiary, partner or beneficial owner been and no restriction on such transfer that is outside the Holdercontrol of such beneficiary, partner or beneficial owner); (hiv) on account of any Tax to the extent that is the Taxes required to be withheld or deducted are imposed pursuant to sections 1471 through 1474 of the U.S. United States Internal Revenue Code of 1986, as amended, amended (the “Code”and any amended or successor version that is substantially comparable), and any regulations or other official guidance thereunder, thereunder or agreements (including any intergovernmental agreement agreements or any laws, rules or practices implementing such intergovernmental agreements) entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (mv) on account of any combination of the above. foregoing clauses of this proviso. (b) The Company or applicable Payor will (a) make any Guarantor will also make such required withholding or deduction and (b) remit the full amount deducted or withheld to the relevant authority Relevant Taxing Jurisdiction in accordance with applicable law. The Company Issuer will furnishfurnish to the holders of the Notes, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts evidencing such payment by the applicable Payor. (c) The Payors will indemnify and hold harmless each holder (other than all Excluded Holders) for the amount of (i) any Taxes not withheld or deducted by the Payors and levied or imposed and paid by such holder as a result of payments made under or with respect to the extent received from Notes or the relevant tax authorities in the usual course Subsidiary Guarantees, (ii) any liability (including penalties, interest and expenses) arising therefrom or as generally providedwith respect thereto, and (iii) evidencing that such payment has been made by the Company any Taxes imposed with respect to any reimbursement under clauses (i) or any Guarantor. The Trustee will make such evidence available to the Holders upon request. (ii) above. (d) At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes Payor is aware that it will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)payment, the Company Issuer will deliver to each Paying Agent the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes holders on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNote, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto . (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (ke) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in under this Section 4.21 4.12 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any successor Person and to any jurisdiction in which any such successor Person to the Company is organized or any Guarantor is incorporated, engaged in otherwise resident or doing business for tax purposes or resident for tax purposes or any jurisdiction from or through which payment is made by such Person makes any payment on the Notes and any department successor or any political subdivision thereof or thereinits respective agents.

Appears in 3 contracts

Sources: Trust Indenture (Columbia Care Inc.), Trust Indenture (Columbia Care Inc.), Trust Indenture

Additional Amounts. All payments made (a) The Company hereby agrees that any amounts to be paid by or on behalf of the Company or any Guarantor under or with respect to the Notes each Security shall be paid without deduction or the Note Guarantees will be made free withholding for any and clear of all present and without withholding or deduction for or on account of any present or future taxtaxes, dutylevies, levy, impost, assessment imposts or other governmental charge charges whatsoever imposed, assessed, levied or collected by or for the account of (including without limitationi)(x) the Republic of Panama or any political subdivision or taxing authority thereof or (y) the jurisdiction of incorporation (other than the United States or any political subdivision or taxing authority thereof) of a successor entity to the Company pursuant to Section 8.1, penaltiesto the extent that such taxes, interest and levies, imposts or other governmental charges first become applicable as a result of such successor entity becoming the obligor on the Securities, or (ii) any other liability with respect theretojurisdiction (other than the United States or any political subdivision or taxing authority thereof) from or through which any amount is paid by the Company hereunder or where it is resident or maintains a place of business or permanent establishment (each jurisdiction described in Clauses (i) and (ii) above is referred to herein as a “Taxing Jurisdiction” and such taxes, levies, imposts or other governmental charges are referred to as “Taxes”), unless the Company withholding or deduction of such Tax is compelled by laws of the Republic of Panama or any Guarantor other applicable Taxing Jurisdiction. If any deduction or withholding of any Taxes (other than Excluded Taxes, as defined below) is ever required by the Republic of Panama or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant other Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company shall (subject to compliance by the Holder or beneficial owner of each Security with any such Guarantor will applicable administrative requirements) pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that required to make the net amount received by amounts paid to each Holder of such Holder (including Security or the Additional Amounts) Trustee pursuant to the terms of this Indenture or the Securities, after such withholding deduction or deduction will not be less than withholding, equal to the amount amounts of principal, premium, if any, interest, if any, and sinking fund or analogous payments, if any, to which such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment Trustee is entitled. However, the Company shall not be required to pay Additional Amounts in respect of principal more than 30 days after the later of following Taxes (“Excluded Taxes”): (1) the date on which such payment first became due and (2) if the full amount payable has not been received by any present or on behalf future Taxes imposed, assessed, levied or collected as a result of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner of a Security (i) being organized under the laws of, or otherwise being or having been a domiciliary, national or resident of, (ii) being engaged or having been engaged in a trade or business in, (iii) having or having had its principal office located in, (iv) maintaining or having maintained a permanent establishment in, (v) being or having been physically present in, or (vi) otherwise having or having had some connection (other than the connection arising from holding or owning such Security, or collecting principal and interest, if any, on, or the enforcement of, such Security) with the Republic of Panama or any other applicable Taxing Jurisdiction; (2) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for the fact that, where presentation is required, the relevant Security was presented more than thirty days after the date the payment became due or was provided for, whichever is later; (3) any present or future Taxes imposed under Sections 1471-1474 of the United States Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder, or any present or future Taxes imposed under comparable provisions of non-United States tax law; (4) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for the failure to provide informationmake any certification, documents identification or other evidence report concerning the nationality, residence, identity or connection with the Relevant Republic of Panama or any other applicable Taxing Jurisdiction of such the Holder or beneficial owner which is required of such Security or imposed by claim for relief or exemption, if making such a statutecertification, treatyidentification, regulation other report or administrative practice claim is, under the laws, rules or regulations of the Relevant Taxing Jurisdiction as any such jurisdiction, a precondition condition to relief or exemption from all or part of such tax, assessment or governmental chargeTaxes; (c5) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment Tax or other governmental charge;duty; or (e6) except in the case any combination of the winding up of the Company or any GuarantorClauses (1), if (2), (3), (4) and (5) above; provided further, that no such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are Additional Amounts shall be payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to Security held by (x) any Holder who or beneficial owner that is a fiduciary or partnership or other than not the sole beneficial owner of such payment Security, or that is a fiduciary, partnership, limited liability company or other fiscally transparent entity, but only to the extent that a beneficiary or settlor with respect to the fiduciary or a beneficial owner owner, partner or member of the partnership, limited liability company or other fiscally transparent entity, would not have been entitled to any such Additional Amounts had such beneficiary the beneficiary, settlor, beneficial owner, partner or settlor or beneficial owner member been the Holder; direct holder of such Security, (hy) on account of any Tax Holder that is imposed pursuant to sections 1471 through 1474 not a resident of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any the extent that, had such Holder been a resident of the foregoingUnited States and eligible (taking into account any applicable limitation on benefits article or similar provision) for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security, such Holder would not have been entitled to such Additional Amounts, or (z) any agreements entered into pursuant to section 1471(b)(1) Holder that is a resident of the Code United States but that is not eligible for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security (but only to the extent the amount of such deduction or withholding exceeds that which would have been required had such Holder of a Security been so eligible and made all relevant claims). The Company or any such Taxsuccessor to the Company, “FATCA Withholding”); as the case may be, agrees to indemnify and hold harmless each Holder of a Security and upon written request reimburse each Holder for the amount of (i) on account any Taxes levied or imposed and paid by such Holder of any U.S. federal withholding Taxes imposed a Security (other than Excluded Taxes) as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled payments made with respect to votesuch Security, (2ii) such Holder’s any liability (including penalties, interest and expenses) arising therefrom with respect thereto, and (iii) any Taxes (other than Excluded Taxes) with respect to payment of Additional Amounts or beneficial owner’s being a bank receiving such interest any reimbursement pursuant to a loan agreement entered into this sentence, in each case, to the ordinary course extent not otherwise reimbursed by the payment of its trade or business any Additional Amount and not excluded from the requirement to pay Additional Amounts, as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will successor to the Company, as the case may be, shall also (i) make such withholding or deduction to the extent required by applicable law and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishor any successor to the Company, as the case may be, shall furnish the Trustee within 60 30 days after the date the payment of any such Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts (to evidencing the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available successor to the Holders upon requestCompany, as the case may be, or other evidence of such payment reasonably satisfactory to the Trustee. It is understood, however, that the Trustee is under no obligation to request such certified copies of tax receipts evidencing the payment. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees Securities is due and payable, if the Company or any Guarantor becomes will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)those payments, the Company will shall deliver to each Paying Agent the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and stating the amount so amounts that will be payable and will set setting forth such any other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes Securities on the payment date. Whenever in this Indenture or any Security there is mentioned, in any context, (a) the payment of principal (and the principal, premium, if any), (b) purchase prices or interest, or sinking fund or analogous payment, if any, in connection with a purchase respect of the Notes, (c) such Security or overdue principal or overdue interest or (d) any other amount payable on overdue sinking fund or with respect to any of the Notes or the Note Guaranteesanalogous payment, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section herein to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as thereof pursuant to the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic provisions of France or this Section and express mention thereof in any jurisdiction provisions hereof shall not be construed as excluding Additional Amounts in which a Paying Agent those provisions hereof where such express mention is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto not made (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveif applicable). The obligations of the Company or (and any Guarantor described in successor entity to the Company pursuant to Section 8.1) under this Section 4.21 will 10.5 shall survive any termination, defeasance or satisfaction and discharge the termination of this Indenture and the payment of all amounts under or with respect to the Securities. (b) Each Holder of a Security, by acceptance of such Security, agrees that, with reasonable promptness after receiving written notice from the Company to the effect that such ▇▇▇▇▇▇ is eligible for a refund in respect of Taxes actually paid by the Company pursuant to this Section 10.5, such Holder will sign and deliver, as reasonably directed by the Company, any transfer form provided to such Holder by the Company to enable such Holder to obtain a holder or beneficial owner refund in respect of its notessuch Taxes; and if such Holder thereafter receives such refund in respect of such Taxes, and such Holder will apply, mutatis mutandis, to any jurisdiction in which any successor Person promptly pay such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority). If a Holder applies for a refund of such Taxes prior to a request by the Company to apply for such a refund, the Holder will, upon receipt of a request by the Company to apply for, or to turn over the proceeds of, any Guarantor is incorporatedsuch refund, engaged pay any such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority), promptly upon receipt of such refund. The Company shall pay all reasonable out-of-pocket expenses incurred by a Holder in business for tax purposes or resident for tax purposes or any jurisdiction from or through which connection with obtaining such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinrefund.

Appears in 3 contracts

Sources: Indenture (Carnival PLC), Indenture (Carnival PLC), Indenture (Carnival PLC)

Additional Amounts. (1) All payments made by or on behalf of the Company or any Guarantor under the Subsidiary Guarantors on or with respect to the Notes or the Note Guarantees will pursuant to this Indenture shall be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and Taxes imposed by any other liability with respect thereto) (“Taxes”)Canadian Taxing Authority, unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authorityCanadian Taxing Authority. If the Company or any Subsidiary Guarantor (or any Paying Agentother payor) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Canadian Taxing Jurisdiction”) Authority from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, it shall: (i) make such withholding or deduction; (ii) remit the full amount deducted or withheld to the relevant government authority in accordance with applicable law; (iii) pay the additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such the Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (biv) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect furnish to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishHolders, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable lawdue, to the Trustee, certified copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or such Subsidiary Guarantor; (v) indemnify and hold harmless each Holder (other than an Excluded Holder, as defined in paragraph (2) below) for the amount of (a) any Guarantor. The Trustee will make Taxes paid by each such evidence available Holder as a result of payments made on or with respect to the Holders upon request. At Notes, (b) any liability (including penalties, interest and expenses) arising from or with respect to such payments and (c) any Taxes imposed with respect to any reimbursement under the foregoing clauses (a) or (b), but excluding any such Taxes that are in the nature of Taxes on net income, taxes on capital, franchise taxes, net worth taxes and similar taxes; and (vi) at least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Subsidiary Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior payment, deliver to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. (2) Notwithstanding the provisions of paragraph (1) above, no Additional Amounts shall be payable to a Person (an “Excluded Holder”) in respect of a payment made to such Person under or with respect to a Note: (i) if such Person is subject to such Taxes by reason of its being connected with Canada or any province or territory thereof otherwise than by the mere acquisition, holding or disposition of Notes or the receipt of payments thereunder; (ii) if such Person waives its right to receive Additional Amounts; (iii) if the Company or such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Income Tax Act (Canada) (the “Tax Act”), with such Person at the time of such payment; (iv) if the Company or such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Tax Act, with another Person to whom the Company or such Subsidiary Guarantor has an obligation to pay an amount in respect of the Note; or (v) to the extent that the Taxes giving rise to such Additional Amounts would not have been imposed but for such person being, or not dealing at arm’s length (within the meaning of the Tax Act) with, a “specified shareholder” of the Company for purposes of the thin capitalization rules in the Tax Act. Whenever in this Indenture there is mentionedAny reference, in any contextcontext in this Indenture, (a) to the payment of principal (and principal, premium, if any), (b) purchase prices in connection with a purchase redemption price, Change of the NotesControl Payment, (c) offer price and interest or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNote, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)payable. The obligations of the Company or any Guarantor described in under this Section 4.21 4.20 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company or any Guarantor Subsidiary Guarantor, as applicable, is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department organized or any political subdivision or taxing authority or agency thereof or therein. It is understood for purposes of this Section 4.20 that the determination of the amount of Additional Amounts shall be made at the beneficial owner level.

Appears in 3 contracts

Sources: Indenture (Videotron Ltee), Indenture (Quebecor Media Inc), Indenture (Videotron Ltee)

Additional Amounts. All Any payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees Debenture will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment Tax or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”)charge, unless the Company or any Guarantor (or any Paying Agent) other payor is required to withhold or deduct such Taxes by applicable law or by the interpretation or administration thereof by the relevant taxing authorityGovernmental Authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes Debenture (including for greater certainty, the delivery of Common Shares or other property in connection with the Note Guaranteesexercise of a conversion right or otherwise), then, with respect to Indemnified Taxes (including Other Taxes), the Company or any such Guarantor will pay to each the Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount Amounts received by such Holder (including the Additional Amounts) by the Holder after such withholding or deduction (including any withholding or deduction required to be made in respect of any Additional Amounts) will not be less than the amount such the Holder would have received (including for greater certainty, the full amount of any Common Shares or other property to which the Holder is entitled under the Debenture in connection with the exercise of a conversion right, payment on Maturity or otherwise) if such Indemnified Taxes (including Other Taxes) had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company will make all withholdings or any Guarantor deductions required by applicable law and will also make such withholding or deduction and remit the full amount withheld or deducted or withheld to the relevant authority Governmental Authority as and when required by applicable law and as soon as practicable thereafter will deliver to the Holder the original or certified copy of a receipt issued by such Governmental Authority evidencing such payment or other evidence of such payment reasonably satisfactory to the Holder. The Company shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. The Company will furnishTo the extent that withholdings or deductions apply to any payment to be made to the Holder, within 60 days after if the date Holder is entitled to an exemption from or reduction in the payment rate of any Taxes is due pursuant withholding Tax with respect to any payments hereunder, the Holder shall deliver to the Company, at the time or times reasonably requested by the Company and at the time or times prescribed by applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made properly completed and executed documentation reasonably requested by the Company or prescribed by applicable law as will permit such payments to be made without withholding (including FATCA withholding, if applicable) or at a reduced rate of withholding. In addition, the Holder, if requested by the Company, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Company as will enable the Company to determine whether or not such Holder is subject to withholding, backup withholding or information reporting requirements, provided that no Holder shall be required to deliver any Guarantordocumentation pursuant to this Section 2.3 that such Holder is not legally able to deliver. The Trustee will make such evidence available Notwithstanding anything herein to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payablecontrary, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, this Section 2.3 and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 thereunder will survive any termination, defeasance or satisfaction and discharge the repayment of this Indenture or any transfer by a holder or beneficial owner Debenture and the termination of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinthis Debenture.

Appears in 3 contracts

Sources: Securities Purchase Agreement, Securities Purchase Agreement, Securities Purchase Agreement

Additional Amounts. All payments made (a) The Company hereby agrees that any amounts to be paid by or on behalf of the Company or any Guarantor under or with respect to the Notes each Security shall be paid without deduction or the Note Guarantees will be made free withholding for any and clear of all present and without withholding or deduction for or on account of any present or future taxtaxes, dutylevies, levy, impost, assessment imposts or other governmental charge charges whatsoever imposed, assessed, levied or collected by or for the account of (including without limitationi)(x) the United Kingdom or any political subdivision or taxing authority thereof or (y) the jurisdiction of tax residence (other than the United States or any political subdivision or taxing authority thereof) of a successor entity to the Company pursuant to Section 8.1, penaltiesto the extent that such taxes, interest and levies, imposts or other governmental charges first become applicable as a result of such successor entity becoming the obligor on the Securities, or (ii) any other liability with respect theretojurisdiction (other than the United States, or any political subdivision or taxing authority thereof) from or through which any amount is paid by the Company hereunder or where it is resident or maintains a place of business or permanent establishment (each jurisdiction described in Clauses (i) and (ii) above is referred to herein as a “Taxing Jurisdiction” and such taxes, levies, imposts or other governmental charges are referred to as “Taxes”), unless the Company withholding or deduction of such Tax is compelled by laws of the United Kingdom, or any Guarantor other applicable Taxing Jurisdiction. If any deduction or withholding of any Taxes (other than Excluded Taxes, as defined below) is ever required by the United Kingdom or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant other Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company shall (subject to compliance by the Holder or beneficial owner of each Security with any such Guarantor will applicable administrative requirements) pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that required to make the net amount received by amounts paid to each Holder of such Security or the Trustee pursuant to the terms of this Indenture or the Securities, after such deduction or withholding, equal to the amounts of principal, premium, if any, interest, if any, and sinking fund or analogous payments, if any, to which such Holder (including or the Additional Amounts) after such withholding or deduction will Trustee is entitled. However, the Company shall not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no required to pay Additional Amounts will be payable with in respect to any Note:of the following Taxes (“Excluded Taxes”): (a1) surrendered by any present or future Taxes imposed, assessed, levied or collected as a result of the Holder or the beneficial owner thereof of a Security (i) being organized under the laws of, or otherwise being or having been a domiciliary, national or resident of, (ii) being engaged or having been engaged in a trade or business in, (iii) having or having had its principal office located in, (iv) maintaining or having maintained a permanent establishment in, (v) being or having been physically present in, or (vi) otherwise having or having had some connection (other than the connection arising solely from holding or owning such Security, or collecting principal and interest, if any, on, or the enforcement of, such Security) with the United Kingdom or any other applicable Taxing Jurisdiction; (2) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for payment of principal the fact that, where presentation is required, the relevant Security was presented more than 30 thirty days after the later date the relevant payment is first made available for payment to the Holder or beneficial owner; (3) any present or future Taxes imposed pursuant to current Section 1471 through 1474 of the Internal Revenue Code of 1986, as amended (1the “Code”) or any amended or successor version that is substantively comparable and not materially more onerous to comply with, any regulations promulgated thereunder, any official interpretations thereof, any intergovernmental agreement between a non-U.S. jurisdiction and the date on which such United States (or any related law or administrative practices or procedures) implementing the foregoing or any agreements entered into pursuant to current Section 1471(b)(1) of the Code (or any amended or successor version described above); (4) any present or future Taxes payable other than by deduction or withholding from payments under, or with respect to, any Security; (5) any present or future Taxes imposed in connection with a Security presented for payment first became due and (2where presentation is permitted or required for payment) if the full amount payable has not been received by or on behalf of the relevant a Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed Security to the extent such Holder Taxes could have been avoided by presenting the relevant Security to, or beneficial owner otherwise accepting payment from, another Paying Agent; (6) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for the failure to provide informationmake any certification, documents identification or other evidence report concerning the nationality, residence, identity or connection with the Relevant United Kingdom or any other applicable Taxing Jurisdiction of such the Holder or beneficial owner which is required of such Security or imposed by claim for relief or exemption, if making such a statutecertification, treatyidentification, regulation other report or administrative practice claim is, under the laws, rules or regulations of the Relevant Taxing Jurisdiction as any such jurisdiction, a precondition condition to relief or exemption from all or part of such tax, assessment or governmental chargeTaxes; (c7) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment Tax or other governmental charge;duty; or (e8) any combination of Clauses (1) except in the case of the winding up of the Company or any Guarantorthrough (7) above; provided further, if that no such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are Additional Amounts shall be payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to Security held by (x) any Holder who or beneficial owner that is a fiduciary or partnership or other than not the sole beneficial owner of such payment Security, or that is a fiduciary, partnership, limited liability company or other fiscally transparent entity, but only to the extent that a beneficiary or settlor with respect to the fiduciary or a beneficial owner owner, partner or member of the partnership, limited liability company or other fiscally transparent entity, would not have been entitled to any such Additional Amounts had such beneficiary the beneficiary, settlor, beneficial owner, partner or settlor or beneficial owner member been the Holder; direct holder of such Security, (hy) on account of any Tax Holder that is imposed pursuant to sections 1471 through 1474 not a resident of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any the extent that, had such Holder been a resident of the foregoingUnited States and eligible for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security, such Holder would not have been entitled to such Additional Amounts, or (z) any agreements entered into pursuant to section 1471(b)(1) Holder that is a resident of the Code United States but that is not eligible for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security (but only to the extent the amount of such deduction or withholding exceeds that which would have been required had such Holder of a Security been so eligible and made all relevant claims). The Company or any such Taxsuccessor to the Company, “FATCA Withholding”); as the case may be, agrees to indemnify and hold harmless each Holder of a Security and upon written request reimburse each Holder for the amount of (i) on account any Taxes levied or imposed and paid by such Holder of any U.S. federal withholding Taxes imposed a Security (other than Excluded Taxes) as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled payments made with respect to votesuch Security, (2ii) such Holder’s any liability (including penalties, interest and expenses) arising therefrom with respect thereto, and (iii) any Taxes (other than Excluded Taxes) with respect to payment of Additional Amounts or beneficial owner’s being a bank receiving such interest any reimbursement pursuant to a loan agreement entered into this sentence, in each case, to the ordinary course extent not otherwise reimbursed by the payment of its trade or business any Additional Amount and not excluded from the requirement to pay Additional Amounts, as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will successor to the Company, as the case may be, shall also (i) make such withholding or deduction to the extent required by applicable law and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishor any successor to the Company, as the case may be, shall furnish the Trustee within 60 30 days after the date the payment of any such Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts (to evidencing the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available successor to the Holders upon requestCompany, as the case may be, or other evidence of such payment reasonably satisfactory to the Trustee. It is understood, however, that the Trustee is under no obligation to request such certified copies of tax receipts evidencing the payment. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees Securities is due and payable, if the Company or any Guarantor becomes will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)those payments, the Company will shall deliver to each Paying Agent the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and stating the amount so amounts that will be payable and will set setting forth such any other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes Securities on the payment date. Whenever in this Indenture or any Security there is mentioned, in any context, (a) the payment of principal (and the principal, premium, if any), (b) purchase prices or interest, or sinking fund or analogous payment, if any, in connection with a purchase respect of the Notes, (c) such Security or overdue principal or overdue interest or (d) any other amount payable on overdue sinking fund or with respect to any of the Notes or the Note Guaranteesanalogous payment, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section herein to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as thereof pursuant to the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic provisions of France or this Section and express mention thereof in any jurisdiction provisions hereof shall not be construed as excluding Additional Amounts in which a Paying Agent those provisions hereof where such express mention is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto not made (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveif applicable). The obligations of the Company or (and any Guarantor described in successor entity to the Company pursuant to Section 8.1) under this Section 4.21 will 10.5 shall survive any termination, defeasance or satisfaction and discharge the termination of this Indenture and the payment of all amounts under or with respect to the Securities. (b) Each Holder of a Security, by acceptance of such Security, agrees that, with reasonable promptness after receiving written notice from the Company to the effect that such ▇▇▇▇▇▇ is eligible for a refund in respect of Taxes actually paid by the Company pursuant to this Section 10.5, such Holder will sign and deliver, as reasonably directed by the Company, any transfer form provided to such Holder by the Company to enable such Holder to obtain a holder or beneficial owner refund in respect of its notessuch Taxes; and if such Holder thereafter receives such refund in respect of such Taxes, and such Holder will apply, mutatis mutandis, to any jurisdiction in which any successor Person promptly pay such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority). If a Holder applies for a refund of such Taxes prior to a request by the Company to apply for such a refund, the Holder will, upon receipt of a request by the Company to apply for, or to turn over the proceeds of, any Guarantor is incorporatedsuch refund, engaged pay any such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority), promptly upon receipt of such refund. The Company shall pay all reasonable out-of-pocket expenses incurred by a Holder in business for tax purposes or resident for tax purposes or any jurisdiction from or through which connection with obtaining such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinrefund.

Appears in 3 contracts

Sources: Indenture (Carnival PLC), Indenture (Carnival PLC), Indenture (Carnival PLC)

Additional Amounts. All Any payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees Debenture will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment Tax or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”)charge, unless the Company or any Guarantor (or any Paying Agent) other payor is required to withhold or deduct such Taxes by applicable law or by the interpretation or administration thereof by the relevant taxing authorityGovernmental Authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes Debenture (including for greater certainty, the delivery of Common Shares or other property in connection with the Note Guaranteesexercise of a conversion right or otherwise), then, with respect to Indemnified Taxes (including Other Taxes), the Company or any such Guarantor will pay to each the Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts") as may be necessary so that the net amount received by such Holder (including the Additional Amounts) by the Holder after such withholding or deduction (including any withholding or deduction required to be made in respect of any Additional Amounts) will not be less than the amount such the Holder would have received (including for greater certainty, the full amount of any Common Shares or other property to which the Holder is entitled under the Debenture in connection with the exercise of a conversion right, payment on Maturity or otherwise) if such Indemnified Taxes (including Other Taxes) had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company will make all withholdings or any Guarantor deductions required by applicable law and will also make such withholding or deduction and remit the full amount withheld or deducted or withheld to the relevant authority Governmental Authority as and when required by applicable law and as soon as practicable thereafter will deliver to the Holder the original or certified copy of a receipt issued by such Governmental Authority evidencing such payment or other evidence of such payment reasonably satisfactory to the Holder. The Company shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. The Company will furnishTo the extent that withholdings or deductions apply to any payment to be made to the Holder, within 60 days after if the date Holder is entitled to an exemption from or reduction in the payment rate of any Taxes is due pursuant withholding Tax with respect to any payments hereunder, the Holder shall deliver to the Company, at the time or times reasonably requested by the Company and at the time or times prescribed by applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made properly completed and executed documentation reasonably requested by the Company or prescribed by applicable law as will permit such payments to be made without withholding (including FATCA withholding, if applicable) or at a reduced rate of withholding. In addition, the Holder, if requested by the Company, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Company as will enable the Company to determine whether or not such Holder is subject to withholding, backup withholding or information reporting requirements, provided that no Holder shall be required to deliver any Guarantordocumentation pursuant to this Section 2.3 that such Holder is not legally able to deliver. The Trustee will make such evidence available Notwithstanding anything herein to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payablecontrary, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, this Section 2.3 and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 thereunder will survive any termination, defeasance or satisfaction and discharge the repayment of this Indenture or any transfer by a holder or beneficial owner Debenture and the termination of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinthis Debenture.

Appears in 3 contracts

Sources: Securities Purchase Agreement (SOL Strategies Inc.), Securities Purchase Agreement (SOL Strategies Inc.), Securities Purchase Agreement (SOL Strategies Inc.)

Additional Amounts. All payments made (a) The Company hereby agrees that any amounts to be paid by or on behalf of the Company or any Guarantor under or with respect to the Notes each Security shall be paid without deduction or the Note Guarantees will be made free withholding for any and clear of all present and without withholding or deduction for or on account of any present or future taxtaxes, dutylevies, levy, impost, assessment imposts or other governmental charge charges whatsoever imposed, assessed, levied or collected by or for the account of (including without limitationi)(x) the United Kingdom or any political subdivision or taxing authority thereof or (y) the jurisdiction of tax residence (other than the United States or any political subdivision or taxing authority thereof) of a successor entity to the Company pursuant to Section 8.1, penaltiesto the extent that such taxes, interest and levies, imposts or other governmental charges first become applicable as a result of such successor entity becoming the obligor on the Securities, or (ii) any other liability with respect theretojurisdiction (other than the United States, or any political subdivision or taxing authority thereof) from or through which any amount is paid by the Company hereunder or where it is resident or maintains a place of business or permanent establishment (each jurisdiction described in Clauses (i) and (ii) above is referred to herein as a “Taxing Jurisdiction” and such taxes, levies, imposts or other governmental charges are referred to as “Taxes”), unless the Company withholding or deduction of such Tax is compelled by laws of the United Kingdom, or any Guarantor other applicable Taxing Jurisdiction. If any deduction or withholding of any Taxes (other than Excluded Taxes, as defined below) is ever required by the United Kingdom or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant other Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company shall (subject to compliance by the Holder or beneficial owner of each Security with any such Guarantor will applicable administrative requirements) pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that required to make the net amount received by amounts paid to each Holder of such Holder (including Security or the Additional Amounts) Trustee pursuant to the terms of this Indenture or the Securities, after such withholding deduction or deduction will not be less than withholding, equal to the amount amounts of principal, premium, if any, interest, if any, and sinking fund or analogous payments, if any, to which such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment Trustee is entitled. However, the Company shall not be required to pay Additional Amounts in respect of principal more than 30 days after the later of following Taxes (“Excluded Taxes”): (1) the date on which such payment first became due and (2) if the full amount payable has not been received by any present or on behalf future Taxes imposed, assessed, levied or collected as a result of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner of a Security (i) being organized under the laws of, or otherwise being or having been a domiciliary, national or resident of, (ii) being engaged or having been engaged in a trade or business in, (iii) having or having had its principal office located in, (iv) maintaining or having maintained a permanent establishment in, (v) being or having been physically present in, or (vi) otherwise having or having had some connection (other than the connection arising from holding or owning such Security, or collecting principal and interest, if any, on, or the enforcement of, such Security) with the United Kingdom or any other applicable Taxing Jurisdiction; (2) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for the fact that, where presentation is required, the relevant Security was presented more than thirty days after the date the payment became due or was provided for, whichever is later; (3) any present or future Taxes imposed under Sections 1471-1474 of the United States Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder, or any present or future Taxes imposed under comparable provisions of non-United States tax law; (4) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for the failure to provide informationmake any certification, documents identification or other evidence report concerning the nationality, residence, identity or connection with the Relevant United Kingdom or any other applicable Taxing Jurisdiction of such the Holder or beneficial owner which is required of such Security or imposed by claim for relief or exemption, if making such a statutecertification, treatyidentification, regulation other report or administrative practice claim is, under the laws, rules or regulations of the Relevant Taxing Jurisdiction as any such jurisdiction, a precondition condition to relief or exemption from all or part of such tax, assessment or governmental chargeTaxes; (c5) held by any present or future Taxes imposed on behalf of a payment to a Holder and required to be made pursuant to any law implementing European Council Directive 2003/48/EC or beneficial owner who is liable for Taxes in respect any other directive implementing the conclusions of such Note by reason the ECOFIN Council meeting of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding 26-27 November 2000 or disposition of any Notelaw implementing or complying with, or the receipt of payments made by or on behalf of the Company or any Guarantor introduced in respect thereof or any Note Guarantee, including, without limitationorder to conform to, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment thereindirective; (d6) any present or future Taxes imposed on account a payment to, or with respect to, a Holder who would have been able to avoid such Taxes by presenting the relevant Security to a paying agent in a member state of the European Union; (7) any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment Tax or other governmental charge;duty; or (e8) any combination of Clauses (1) except in the case of the winding up of the Company or any Guarantorthrough (7) above; provided further, if that no such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are Additional Amounts shall be payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to Security held by (x) any Holder who or beneficial owner that is a fiduciary or partnership or other than not the sole beneficial owner of such payment Security, or that is a fiduciary, partnership, limited liability company or other fiscally transparent entity, but only to the extent that a beneficiary or settlor with respect to the fiduciary or a beneficial owner owner, partner or member of the partnership, limited liability company or other fiscally transparent entity, would not have been entitled to any such Additional Amounts had such beneficiary the beneficiary, settlor, beneficial owner, partner or settlor or beneficial owner member been the Holder; direct holder of such Security, (hy) on account of any Tax Holder that is imposed pursuant to sections 1471 through 1474 not a resident of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any the extent that, had such Holder been a resident of the foregoingUnited States and eligible for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security, such Holder would not have been entitled to such Additional Amounts, or (z) any agreements entered into pursuant to section 1471(b)(1) Holder that is a resident of the Code United States but that is not eligible for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security (but only to the extent the amount of such deduction or withholding exceeds that which would have been required had such Holder of a Security been so eligible and made all relevant claims). The Company or any such Taxsuccessor to the Company, “FATCA Withholding”); as the case may be, agrees to indemnify and hold harmless each Holder of a Security and upon written request reimburse each Holder for the amount of (i) on account any Taxes levied or imposed and paid by such Holder of any U.S. federal withholding Taxes imposed a Security (other than Excluded Taxes) as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled payments made with respect to votesuch Security, (2ii) such Holder’s any liability (including penalties, interest and expenses) arising therefrom with respect thereto, and (iii) any Taxes (other than Excluded Taxes) with respect to payment of Additional Amounts or beneficial owner’s being a bank receiving such interest any reimbursement pursuant to a loan agreement entered into this sentence, in each case, to the ordinary course extent not otherwise reimbursed by the payment of its trade or business any Additional Amount and not excluded from the requirement to pay Additional Amounts, as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will successor to the Company, as the case may be, shall also (i) make such withholding or deduction to the extent required by applicable law and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishor any successor to the Company, as the case may be, shall furnish the Trustee within 60 30 days after the date the payment of any such Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts (to evidencing the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available successor to the Holders upon requestCompany, as the case may be, or other evidence of such payment reasonably satisfactory to the Trustee. It is understood, however, that the Trustee is under no obligation to request such certified copies of tax receipts evidencing the payment. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees Securities is due and payable, if the Company or any Guarantor becomes will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)those payments, the Company will shall deliver to each Paying Agent the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and stating the amount so amounts that will be payable and will set setting forth such any other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes Securities on the payment date. Whenever in this Indenture or any Security there is mentioned, in any context, (a) the payment of principal (and the principal, premium, if any), (b) purchase prices or interest, or sinking fund or analogous payment, if any, in connection with a purchase respect of the Notes, (c) such Security or overdue principal or overdue interest or (d) any other amount payable on overdue sinking fund or with respect to any of the Notes or the Note Guaranteesanalogous payment, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section herein to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as thereof pursuant to the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic provisions of France or this Section and express mention thereof in any jurisdiction provisions hereof shall not be construed as excluding Additional Amounts in which a Paying Agent those provisions hereof where such express mention is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto not made (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveif applicable). The obligations of the Company or (and any Guarantor described in successor entity to the Company pursuant to Section 8.1) under this Section 4.21 will 10.5 shall survive any termination, defeasance or satisfaction and discharge the termination of this Indenture and the payment of all amounts under or with respect to the Securities. (b) Each Holder of a Security, by acceptance of such Security, agrees that, with reasonable promptness after receiving written notice from the Company to the effect that such ▇▇▇▇▇▇ is eligible for a refund in respect of Taxes actually paid by the Company pursuant to this Section 10.5, such Holder will sign and deliver, as reasonably directed by the Company, any transfer form provided to such Holder by the Company to enable such Holder to obtain a holder or beneficial owner refund in respect of its notessuch Taxes; and if such Holder thereafter receives such refund in respect of such Taxes, and such Holder will apply, mutatis mutandis, to any jurisdiction in which any successor Person promptly pay such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority). If a Holder applies for a refund of such Taxes prior to a request by the Company to apply for such a refund, the Holder will, upon receipt of a request by the Company to apply for, or to turn over the proceeds of, any Guarantor is incorporatedsuch refund, engaged pay any such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority), promptly upon receipt of such refund. The Company shall pay all reasonable out-of-pocket expenses incurred by a Holder in business for tax purposes or resident for tax purposes or any jurisdiction from or through which connection with obtaining such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinrefund.

Appears in 3 contracts

Sources: Indenture (Carnival PLC), Indenture (Carnival PLC), Indenture (Carnival PLC)

Additional Amounts. (a) All payments made by or on behalf of the Company Issuer, the Co-Issuer or any Guarantor (a “Payor”) under or with respect to the Notes or the Note Guarantees will be made free and clear of of, and without deduction or withholding or deduction for or on account of of, any present or future taxtaxes, dutyduties, levy, impost, assessment assessments or other governmental charge charges of whatsoever nature imposed, levied, collected, withheld or assessed (including without limitationcollectively, penalties“Taxes” by the United States, interest and the Netherlands, any other liability with respect thereto) (“Taxes”)jurisdiction in which the Issuer, unless the Company Co-Issuer or any Guarantor (is then incorporated, organized, engaged in business for tax purposes, or resident for tax purposes, any Paying Agent) jurisdiction from or through which any such payment is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied made by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes Payor or any political subdivision or taxing authority thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”)), unless such deduction or withholding is required by law. (b) from any payment made In the event such deduction or withholding of Taxes is required with respect to payments under or with respect to the Notes or by law of any Relevant Taxing Jurisdiction (other than the Note GuaranteesUnited States), subject to the limitations described below, the Company or any such Guarantor Payors will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the every net amount payment received by the beneficial owner of such Holder Note of principal of or interest or any other amount payable on the Notes (including the Additional Amounts) upon redemption), after deduction or withholding for or on account of such withholding or deduction Taxes, will not be less than the amount such Holder that would have been received if in respect of such Taxes had not been withheld payments in the absence of such deduction or deducted, provided that no withholding for or on account of such Taxes. Payment of Additional Amounts will shall be payable made in accordance with respect the procedures of any applicable securities depositary. However, the Payors’ obligation to any Notepay Additional Amounts shall not apply to: (ai) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of any Taxes that would not have been so imposed but for: (1A) the date on which such payment first became due and (2) if the full amount payable has not been received by existence of any present or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to former connection between such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of between a fiduciary, settlor, beneficiary, member member, partner or shareholder or other equity owner of, or possessor of a person having a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a nominee, a trust, a partnership limited liability company, a partnership, a corporation or other entity) and the Relevant Taxing Jurisdiction, including such Holder or beneficial owner (or such fiduciary, settlor, beneficiary, member, partner or shareholder or other equity owner or person having such a corporationpower) being or having been a citizen or resident or treated as a personal holding company, passive foreign investment company, resident of the Relevant Taxing Jurisdiction or controlled foreign corporation for United States federal income tax purposes, being or as having been engaged in a corporation that accumulates earnings to avoid U.S. federal income taxtrade or business in the Relevant Taxing Jurisdiction or having or having had a permanent establishment in the Relevant Taxing Jurisdiction; (kB) when the failure of such withholding Holder or deduction for French taxes beneficial owner to comply with a request to provide any certification, information or other reporting requirement, if compliance is required under tax laws and regulations of Relevant Taxing Jurisdiction to be made by reason of that payment being (x) paid establish entitlement to a bank account opened in a financial institution established inpartial or complete exemption from such Taxes (including, but not limited to, the requirement to provide an applicable Internal Revenue Service Form W-8 (with any required attachment), or (y) paid any subsequent version thereof or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôtssuccessor thereto); (lii) when such withholding or deduction for French taxes is required to be made any Taxes imposed by reason of the Holder or beneficial owner: (A) owning or having owned, directly or indirectly, actually or constructively, 10% or more of the total combined voting power of all classes of the Issuer’s stock, as described in section 871(h)(3) of the Internal Revenue Code, (B) being a bank receiving interest as described in section 881(c)(3)(A) of the Internal Revenue Code, or (C) being a controlled foreign corporation that is related to the Issuer or any Guarantor by stock ownership for U.S. federal income tax purposes; (iii) any Taxes that would not have been so imposed but for the presentation by the Holder or beneficial owner of such Note for payment on a date more than 30 days after the date on which such payment became due and payable or the date on which payment of the Note is duly provided for and notice is given to such Holders, whichever occurs later, except to the extent that such Holder or beneficial owner would have been entitled to such Additional Amounts on presenting such Note on any date during such 30-day period; (iv) any estate, inheritance, gift, sales, transfer, personal property, capital gains, wealth or similar Taxes; (v) any Taxes payable otherwise than by deduction or withholding from a payment on such Note or with respect to any note Guarantee; (vi) any Taxes payable by a Holder that is not the beneficial owner of the Note concurrently being Note, or that is a shareholder fiduciary, partnership, limited liability company or other similar entity, but, in each case, only to the extent that a beneficial owner, a beneficiary or settlor with respect to such fiduciary or member or partner of such partnership, limited liability company or similar entity would not have been entitled to the payment of an additional amount had such beneficial owner, beneficiary, settlor, member or partner received directly its beneficial or distributive share of the Company payment; (vii) any Taxes required to be withheld by any paying agent from any payment on any Note, if such payment can be made without such withholding by at least one other paying agent; (viii) any Taxes imposed under Sections 1471 through 1474 of the Internal Revenue Code (or any amended or successor provision that is substantively comparable), any current or future regulations or official interpretation thereof, any agreement entered into pursuant to Section 1471(b) of the Internal Revenue Code or any Guarantorfiscal or regulatory legislation, rule or practice adopted pursuant to any intergovernmental agreement, treaty or convention entered into in connection with the implementation of the foregoing; (ix) any Taxes imposed under or in connection with the 2021 Dutch Withholding Tax Act (Wet bronbelasting 2021) with respect to a Holder, or, where applicable, a beneficiary of the Notes that is an entity that is related (gelieerd) to the Issuer within the meaning of the 2021 Dutch Withholding Tax Act; or (mx) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (ki), (ii), (iii), (iv), (v), (vi), (vii), (viii) and (lix). (c) above)For purposes of this Section 2.14, the acquisition, ownership, enforcement, or holding of or the receipt of any payment with respect to a Note will not constitute a connection (x) between the Holder or beneficial owner and the United States or (y) between a fiduciary, settlor, beneficiary, member, partner or shareholder or other equity owner of, or a person having a power over, such Holder or beneficial owner if such Holder or beneficial owner is an estate, a trust, a limited liability company, a partnership, a corporation or other entity and the United States. (d) Any reference in this Indenture or in the Notes to principal or interest or other payment on the Notes shall be deemed to refer also to Additional Amounts that may be payable under the provisions of this Section 2.14. (e) Except as specifically provided under this Section 2.14, the Issuer will not be required to make any payment with respect to any tax, duty, assessment or other governmental charge imposed by any government or any political subdivision or taxing authority of or in the United States. The foregoing obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, indenture and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company a Payor is organized or any Guarantor is incorporated, engaged in business for tax purposes or otherwise considered to be a resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision or taxing authority or agency thereof or therein.

Appears in 2 contracts

Sources: Indenture (Organon & Co.), Indenture (Organon & Co.)

Additional Amounts. 2.7.1 All payments made by or on behalf account of any obligation of the Company or any Guarantor Issuer under or with respect to the TCPL Sub Notes or the Note Guarantees will - Series 2019-A shall be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) imposed or levied by or on behalf of the Government of Canada or any province or territory thereof or by any authority or agency therein or thereof having power to tax (hereinafter, Canadian Taxes”), unless or, in the Company event that a Successor Entity that is organized under the laws of a jurisdiction other than the laws of Canada or any Guarantor (province of territory thereof is substituted for the Issuer pursuant to Article 8 of the Original Indenture, by or on behalf of the government of such successor jurisdiction or any Paying Agent) is required to withhold or deduct Taxes by law subdivision thereof or by any authority or agency therein or thereof having power to tax. 2.7.2 For so long as the interpretation or administration thereof by Trust is the relevant taxing authority. If holder of TCPL Sub Notes — Series 2019-A, if the Company or any Guarantor (or any Paying Agent) Trust is so required to withhold or deduct any amount for or on account of Canadian Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Trust Notes or the Note Guarantees- Series 2019-A, the Company or any such Guarantor will Issuer shall pay to each Holder of the Notes that are outstanding on the date of the required payment, as additional interest such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the Trust may provide a net amount received by such Holder to each holder of Trust Notes — Series 2019-A (including the Additional Amounts) after such withholding or deduction will shall not be less than the amount such Holder holder of Trust Notes — Series 2019-A would have received if such Canadian Taxes had not been withheld or deducted; provided, provided however, that no Additional Amounts will shall be payable to the Trust with respect to any Note: a payment made to a holder of Trust Notes — Series 2019-A (aan “Excluded Holder”) surrendered by the Holder or the in respect of a beneficial owner thereof of Trust Notes Series 2019-A (i) with which the Trust does not deal at arm’s length (for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf purposes of the relevant Holder Income Tax Act (Canada)) at the time the amount is paid or payable, (ii) where the beneficial owner on payment is in respect of a debt or prior other obligation to pay an amount to a person with whom the payor is not dealing at arm’s length for the purposes of the Income Tax Act (Canada), (iii) which is subject to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld Canadian Taxes by reason of the failure of such holder of Trust Notes — Series 2019-A to comply by the Holder orwith any certification, if differentidentification, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents documentation or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which reporting requirement if compliance is required or imposed by a statutelaw, treatyregulation, regulation or administrative practice of the Relevant Taxing Jurisdiction or an applicable treaty as a precondition to exemption from from, or a reduction in, the rate of deduction or withholding of, such Canadian Taxes, (iv) where all or part any portion of the amount paid to such taxholder of Trust Notes — Series 2019-A is deemed to be a dividend paid to such holder of Trust Notes — Series 2019-A pursuant to subsection 214(16) of the Income Tax Act (Canada), assessment or governmental charge; (cv) held by or on behalf of a Holder or beneficial owner who which is liable for subject to such Canadian Taxes in respect of such Note by reason of having some connection its carrying on business in or being connected with the Relevant Taxing Jurisdiction other Canada or any province or territory thereof otherwise than by the mere purchase, holding or disposition of any Note, Trust Notes — Series 2019-A or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also Trust shall make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with as and when required under applicable law. The Company will furnish, within 60 days after . 2.7.3 If a holder of Trust Notes — Series 2019-A has received a refund or credit for any Canadian Taxes with respect to which the date the payment of any Taxes is due Issuer has paid Additional Amounts pursuant to applicable lawthis Section 2.7, and such holder has paid over such refund to the TrusteeTrust, copies of tax receipts the Trust shall pay over such refund to the Issuer (but only to the extent received from of such Additional Amounts), net of all out-of-pocket expenses of such holder, together with any interest paid by the relevant tax authorities authority in the usual course or as generally provided) evidencing that respect of such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay refund. 2.7.4 If Additional Amounts with respect are required to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)under this Section 2.7 as a result of a Tax Event, the Company will deliver Issuer may elect to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary redeem outstanding TCPL Sub Notes - Series 2019-A pursuant to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein3.3.

Appears in 2 contracts

Sources: Fifth Supplemental Indenture (TransCanada Trust), Fifth Supplemental Indenture (Transcanada Pipelines LTD)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under the Subsidiary Guarantors on or with respect to the Notes or the Note Guarantees will pursuant to this Indenture shall be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and Taxes imposed by any other liability with respect thereto) (“Taxes”)Canadian Taxing Authority, unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authorityCanadian Taxing Authority. If the Company or any Subsidiary Guarantor (or any Paying Agentother payor) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Canadian Taxing Jurisdiction”) Authority from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, it shall: (1) make such withholding or deduction; (2) remit the full amount deducted or withheld to the relevant government authority in accordance with applicable law; (3) pay the additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such the Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b4) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect furnish to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishHolders, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable lawdue, to the Trustee, certified copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or such Subsidiary Guarantor; (5) indemnify and hold harmless each Holder (other than an Excluded Holder, as defined in paragraph (b) below) for the amount of (a) any Guarantor. The Trustee will make Taxes paid by each such evidence available Holder as a result of payments made on or with respect to the Holders upon request. At Notes, (b) any liability (including penalties, interest and expenses) arising from or with respect to such payments and (c) any Taxes imposed with respect to any reimbursement under the foregoing clauses (a) or (b), but excluding any such Taxes that are in the nature of Taxes on net income, taxes on capital, franchise taxes, net worth taxes and similar taxes; and (6) at least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Subsidiary Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior payment, deliver to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. (b) Notwithstanding the provisions of paragraph (a) above, no Additional Amounts shall be payable to a Person (an “Excluded Holder”) in respect of a payment made to such Person under or with respect to a Note: (1) if such Person is subject to such Taxes by reason of its being connected with Canada or any province or territory thereof otherwise than by the mere acquisition, holding or disposition of Notes or the receipt of payments thereunder; (2) if such Person waives its right to receive Additional Amounts; (3) if the Company or such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Income Tax Act (Canada) (the “Tax Act”), with such Person at the time of such payment; (4) if the Company or such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Tax Act, with another Person to whom the Company or such Subsidiary Guarantor has an obligation to pay an amount in respect of the Notes; or (5) to the extent that the Taxes giving rise to such Additional Amounts would not have been imposed but for such person being, or not dealing at arm’s length (within the meaning of Tax Act) with, a “specified shareholder” of the Company for purposes of the thin capitalization rules in the Tax Act. Whenever in this Indenture there is mentionedAny reference, in any contextcontext in this Indenture, (a) to the payment of principal (and principal, premium, if any), (b) purchase prices in connection with a purchase redemption price, Change of the NotesControl Payment, (c) interest offer price and interest, or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNote, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)payable. The obligations of the Company or any Guarantor described in under this Section 4.21 4.20 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company or any Guarantor Subsidiary Guarantor, as applicable, is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department organized or any political subdivision or taxing authority or agency thereof or therein. It is understood for purposes of this Section 4.20 that the determination of the amount of Additional Amounts shall be made at the beneficial owner level.

Appears in 2 contracts

Sources: Indenture (Videotron Ltee), Indenture (Quebecor Media Inc)

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Subsidiary Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penaltiespenalities, interest and any other liability with respect thereto) (“Taxes”) imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law under the laws of the Relevant Taxing Jurisdiction or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Subsidiary Guarantees, the Company or any such Guarantor (and each Paying Agent) will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Taxtax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner (ayant-droit) of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Subsidiary Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Taxtax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such any Note is surrendered for payment in the Republic of France; (f) any withholding or deduction imposed on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to an individual which is required to be made pursuant to any law implementing or complying with, or introduced in order to conform to European Council Directive 2003/48/EC or any other Directive implementing the Notes conclusions of the ECOFIN Council meeting of 26–27 November 2000 on the taxation of savings income or Note Guaranteesany agreement between the European Community and any jurisdiction providing for equivalent measures; (g) as a result of any combination of (a), (b), (c), (d), (e) or (f) or with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Subsidiary Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder;; or (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is imposed or levied on a payment to a Luxembourg resident individual and is required to be made by reason pursuant to the Luxembourg law of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above23 December 2005. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Subsidiary Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Subsidiary Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Subsidiary Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture Notes or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)Subsidiary Guarantee. The obligations of the Company or any Guarantor described in this Section 4.21 4.19 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company Issuer or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 2 contracts

Sources: Indenture (CGG), Indenture (CGG Holding B.V.)

Additional Amounts. All payments made by or on behalf The Company will pay to Holders of the Company Securities such Additional Amounts as may be necessary in order that every net payment of principal, premium, if any, Change of Control Purchase Price, Redemption Price or interest in respect of any Guarantor under Securities, after deduction or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge imposed upon or as a result of such payment by (including without limitationi) Bermuda or Ireland or any political subdivision or governmental authority thereof or therein having power to tax, penalties(ii) any jurisdiction from or through which payment is made, interest and or any political subdivision or governmental authority thereof or therein having the power to tax, or (iii) any other liability with respect thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or otherwise considered to be a resident for Tax purposes tax purposes, or any political subdivision or governmental authority thereof or therein or any jurisdiction by or through which payment is made (eachhaving the power to tax, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount provided for in such Holder would have received if such Taxes had not been withheld or deductedSecurities to be then due and payable; provided, provided however, that no the foregoing obligation to pay Additional Amounts will be payable not apply (a) with respect to any Note:Security presented for payment by, or on behalf of, a Holder who is liable for such taxes, duties, assessments or other governmental charges in respect of such Securities by reason of such Holder being a resident, domiciliary or national of, or engaging in business or maintaining a permanent establishment or being physically present in, a Relevant Taxing Jurisdiction, or any political subdivision or taxing authority thereof or therein, or other- wise having some connection with a Relevant Taxing Jurisdiction, or any political subdivision or taxing authority thereof or therein, other than the mere holding of such Securities; (ab) surrendered by to any tax, assessment or other governmental charge which would not have been imposed but for the fact that such Holder or the beneficial owner thereof (i) presented its Securities for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the TrusteeRelevant Date, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering if it had presented such Note Securities for payment on any day during within the applicable 30-day periodperiod or (ii) presented such Securities for payment in the Relevant Taxing Jurisdiction, unless such Securities could not have been presented for payment elsewhere; (bc) if to any Taxtax, assessment or other governmental charge is which would not have been imposed or withheld by reason of but for the failure to comply comply, following a request by the Holder orCompany to the Holder, if differentwith any certification, the beneficial owner of the Note with a request addressed to such Holder identification or beneficial owner to provide information, documents or other evidence reporting requirements concerning the nationality, residence, identity or connection with the a Relevant Taxing Jurisdiction Jurisdiction, or any political subdivision or taxing authority thereof or therein, of such the Holder or beneficial owner which of the Securities, if compliance is required by statute or imposed by regulation of a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction Jurisdiction, or any political subdivision or taxing authority thereof or therein, as a precondition to exemption from all or part of such tax, assessment or other governmental charge; (cd) held by or on behalf with respect to any Holder that has elected not to permit redemption of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment thereinits Securities pursuant to Section 11.8; (de) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Taxtax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes tax, assessment or other governmental charge that are is payable otherwise other than by withholding or deduction or withholding from a payment with respect to the Notes or Note Guarantees;at source; or (g) any combination of clauses (a) through (f) above. In addition, the Company will not pay Additional Amounts with respect to any payment made by of principal of, or on behalf of the Company premium, if any, interest or any Guarantor in respect of other amounts on, any Note or Note Guarantee Security to any Holder who is a fiduciary or partnership fiduciary, partnership, limited liability company or other than the sole beneficial owner of such payment a Security, to the extent that the payment would be required by the laws of the Relevant Taxing Jurisdiction, or any political subdivision or relevant taxing authority thereof or therein, to be included in the income for tax purposes of a beneficiary beneficiary, partner, member or settlor with respect to such fiduciary or a member of such partnership or limited liability company or a beneficial owner who would not have been entitled to any such Additional Amounts had such beneficiary or settlor or beneficial owner it been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 2 contracts

Sources: Limited Waiver (Elan Corp PLC), Limited Waiver (Elan Corp PLC)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor Issuers under or with respect to the Notes or Securities and by the Note Guarantees Company under the Guaranty will be made free and clear of and without withholding or deduction for or on account of any present or future taxtaxes, dutylevies, levyduties, impostfees, assessment assessments or other governmental charge charges of whatever nature (including without limitation"Taxes") imposed, penaltieslevied, interest and collected or assessed by or on behalf of any other liability with respect thereto) (“Taxes”)taxing authority within the Cayman Islands or Thailand, unless the Issuers are or the Company or any Guarantor (or any Paying Agent) is is, as the case may be, required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritythereof. If the Issuers are or the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct or if the Issuers are or the Company is otherwise required to pay any amount for or on account of Taxes imposed by a taxing authority within the Cayman Islands or levied by Thailand from or on behalf in respect of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes Securities or the Note GuaranteesGuaranty, the Company Issuers or any such Guarantor the Company, as the case may be, will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts") as may be necessary so that the net amount received by such each Holder and beneficial owner of Securities (including the Additional Amounts) after such withholding or deduction or other payment of Taxes will not be less than the amount such Holder or beneficial owner would have received if such Taxes had not been withheld or deducteddeducted or paid; provided, provided however, that no Additional Amounts will be payable with respect to a payment made to a Holder or beneficial owner of Securities with respect to any Note: Tax: (ai) surrendered by which would not have been imposed, payable or due but for the existence of any present or former connection between such Holder (or the beneficial owner thereof of, or Person ultimately entitled to obtain an interest in, such Securities) and the Cayman Islands or Thailand, as the case may be, other than the mere holding of such Securities; (ii) which would not have been imposed, payable or due if such Securities had been held in definitive registered form ("Definitive Registered Securities") and the presentation of Definitive Registered Securities for payment of principal more than had occurred within 30 days after the later of (1) the date on which such payment first became was due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due datewas provided for, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trusteewhichever is later, except for Additional Amounts with respect to the extent Taxes that the Holder would have been entitled to imposed had the holder presented such Additional Amounts on surrendering such Note Securities for payment on any day date during the applicable 30-such 30 day period; ; (biii) if any that is an estate, inheritance, gift, sales, transfer, personal property or similar Tax, assessment or other governmental charge ; (iv) that is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide informationcomply, documents at the reasonable request of the Issuers or the Company, as the case may be, with certification, information or other evidence reporting requirements concerning the nationality, residence, residence or identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which if such compliance is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction taxing jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; Tax; (cv) held by or on behalf of a Holder or if the beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Noteof, or Person ultimately entitled to obtain an interest in, such Securities had been the receipt of payments made by or on behalf Holder of the Company Securities and would not be entitled to the payment of Additional Amounts; or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (dvi) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes payments on or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder;Security. (hb) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of The Issuers or the U.S. Internal Revenue Code of 1986Company, as amendedthe case may be, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); will also (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company Issuers or the Company, as the case may be, will furnishmake reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld from each taxing authority imposing such Taxes. The Issuers or the Company, as the case may be, will furnish to the Holders, within 60 days after the date the payment of any Taxes so deducted or withheld is due pursuant to applicable law, to the Trustee, either certified copies of tax receipts evidencing such payment by the Issuers or the Company, as the case may be, or, if such receipts are not obtainable, other evidence of such payments by the Issuers or the Company. (c) In addition, the Issuers or the Company, as the case may be, will upon written request of each Holder (subject to the extent received from exclusions set forth in (i), (ii), (iii), (iv), (v) and (vi) of paragraph (a) above), and provided that reasonable supporting documentation is provided, reimburse each such Holder for the relevant tax authorities in the usual course amount of any Taxes levied or as generally provided) evidencing that such payment has been made imposed by the Company Cayman Islands or any Guarantor. The Trustee will make Thailand and paid by such evidence available Holder as a result of payments made under or with respect to the Holders upon requestSecurities or under the Guaranty. Any payment pursuant to this section shall be an Additional Amount. (d) At least 30 days prior to each date on which any payment under or with respect to the Notes Securities or under the Note Guarantees Guaranty is due and payable, if the Issuers or the Company or any Guarantor becomes will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after payment, the 30th day prior to the date on which payment under Issuers or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent the Trustee an Officers' Certificate stating the fact that such Additional Amounts will be payable, payable and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes Securities on the payment date. Whenever in the Indenture or in this Indenture Security there is mentioned, in any context, (a) the payment of amounts based upon the principal (and of, premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) of any other amount payable on under or with respect to any of the Notes Security or the Note Guarantees, Guaranty such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor. (e) In addition, as the case may be, Issuers will pay any present or future stamp, court issue, registration, documentary, value added or documentary other similar taxes or any and other excise or property taxes, charges or similar levies that arise duties (including interest and penalties) payable in the United States, the Republic of France Cayman Islands or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto Thailand (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereintaxing authority of either jurisdiction) and in the United States in respect of the creation, issue, offering, execution or enforcement of the Securities, the Guaranty or any documentation with respect thereto.

Appears in 2 contracts

Sources: Indenture (NSM Steel Co LTD), Indenture (NSM Steel Co LTD)

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Subsidiary Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”) imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law under the laws of the Relevant Taxing Jurisdiction or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a Relevant Taxing Jurisdiction”) Jurisdiction from any payment made under or with respect to the Notes or the Note Subsidiary Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in all other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder or the beneficial owner would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Taxtax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner (ayant-droit) of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or the beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Subsidiary Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Taxtax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such any Note is surrendered for payment in the Republic of France; (f) on account as a result of any Taxes that are payable otherwise than by deduction combination of (a), (b), (c), (d) or withholding from a payment with respect to the Notes (e) or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Subsidiary Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (hg) on account of any Tax that such withholding or deduction is imposed or levied on a payment to a Luxembourg resident individual and is required to be made pursuant to sections 1471 through 1474 the Luxembourg law of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”)23 December 2005; (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (kh) when such withholding or deduction for French taxes is required to be made by reason of that payment interest being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-non- coopératif) as defined in Article 238-0 A of the French Code général des impôts; (li) in case of Taxes which are payable otherwise than by withholding or deduction from a payment made under or with respect to the Notes; (j) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (mk) Any combination of items (a) through (j) above. Notwithstanding any other provision of this Indenture, all amounts to be paid on account the Notes by or on behalf of the Company or by any Guarantor, will be paid net of any combination deduction or withholding imposed or required pursuant to an agreement described in Section 1471(b) of the aboveU.S. Internal Revenue Code of 1986, as amended (the “Code”), or otherwise imposed pursuant to Sections 1471 through 1474 of the Code (or any regulations thereunder or official interpretations thereof) or an intergovernmental agreement between the United States and another jurisdiction facilitating the implementation thereof (or any fiscal or regulatory legislation, rules or practices implementing such an intergovernmental agreement) (any such withholding or deduction, a “FATCA Withholding”). Neither the Company nor any other person, including any Guarantor, will be required to pay any Additional Amounts in respect of FATCA Withholding. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Subsidiary Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Subsidiary Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Subsidiary Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Subsidiary Guarantee, the Indenture or any other document documents related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (ka) and (l) or any combination of items through (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 4.19 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company Issuer or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 2 contracts

Sources: Indenture, Indenture

Additional Amounts. All Unless specified pursuant to Section 3.01, all payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes Securities or Guarantees (whether or not in the Note Guarantees form of definitive notes) of any series will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company withholding or any Guarantor (or any Paying Agent) deduction is then required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritygovernment authority or agency. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied under the laws of Canada or by or on behalf of any jurisdiction in which the Company or any Subsidiary Guarantor (including any successor entitiesor other surviving entity) is then organized incorporated, engaged in business or resident for Tax purposes tax purpose or any political subdivision or taxing authority thereof or therein or any jurisdiction by from or through which payment is made by or on behalf of the Company or any Subsidiary Guarantor (including, without limitation, the jurisdiction of an paying agent) (each, a “Relevant Taxing Tax Jurisdiction”) will at any time be required to be made from any payment payments made under or with respect to the Notes Securities, including, without limitation, payments of principal, redemption price, purchase price, interest or the Note Guaranteespremium, the Company or any such Guarantor the relevant Subsidiary Guarantor, as applicable, will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received in respect of such payments by such Holder (including the Additional Amounts) each holder after such withholding or deduction (including with respect to Additional Amounts) will not be less than the amount such Holder the holder would have received if such Taxes had not been withheld or deducted; provided, provided however, that no Additional Amounts will be payable with respect to any Noteto: (a1) surrendered by any Taxes that would not have been imposed but for the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note Securities being a citizen or resident or national of, incorporated in or carrying on a business, in the relevant Tax Jurisdiction in which such Taxes are imposed or having any other present or former connection with the relevant Tax Jurisdiction other than the mere acquisition, holding, enforcement or receipt of payment in respect of the Securities; (2) any Taxes that are imposed or withheld as a request addressed to such result of the failure of the Holder or beneficial owner of the Securities to comply with any reasonable written request, made to that Holder or beneficial owner in writing at least 90 days before any such withholding or deduction would be payable, by the Company to provide information, documents or other evidence timely and accurate information concerning the nationality, residence, residence or identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner or to make any valid and timely declaration or similar claim or satisfy any certification, information or other reporting requirement, which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing relevant Tax Jurisdiction as a precondition to any exemption from or reduction in all or part of such tax, assessment or governmental chargeTaxes; (c3) held by or on behalf of a any Security presented for payment (where Securities are in definitive form and presentation is required) more than 30 days after the relevant payment is first made available for payment to the Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with (except to the Relevant Taxing Jurisdiction other than extent that the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having would have been a citizen or resident thereof or being or having entitled to Additional Amounts had the Security been present or engaged in a trade or business therein or having had a permanent establishment thereinpresented on any day during such 30-day period); (d4) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental chargeTaxes; (e5) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes withheld, deducted or imposed on a payment to an individual and that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid pursuant to a bank account opened in a financial institution established in, European Council Directive 2003/48/EC or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A any other directive implementing the conclusions of the French Code général des impôtsECOFIN Council meeting of 26 and 27 November 2000 on the taxation of savings income or any law implementing or complying with or introduced in order to conform to such Directive; (l6) when such withholding or deduction for French taxes any Taxes which the payor is not required to be made by reason of deduct or withhold from payments under, or with respect to, the Holder Securities; (7) any Taxes withheld, deducted or imposed because the holder or beneficial owner of the Note concurrently being a shareholder of notes does not deal at arm’s length with the Company or a relevant Guarantor at a relevant time for purposes of any Guarantorthe Income Tax Act (Canada); or (m) on account of 8) any combination of the items (1) through (7) above. The Company or any the relevant Subsidiary Guarantor will also make such withholding all withholdings or deduction deductions required by law and will remit the full amount deducted or withheld to the relevant taxing authority as and when required in accordance with applicable law. The Company will furnishpay all taxes, within 60 days after interest and other liabilities which arise by virtue of any failure of the date Company to withhold, deduct and remit to the relevant authority on a timely basis the full amounts required in accordance with applicable law. Upon request, the Company will provide to the Trustees an official receipt or, if official receipts are not obtainable, other documentation reasonably satisfactory to the Trustees evidencing the payment of any Taxes is due pursuant so deducted or withheld. The Company will attach to applicable law, to each certified copy or other document a certificate stating the Trusteeamount of such Taxes paid per $1,000 principal amount of the Securities then outstanding. Upon request, copies of tax those receipts (or other documentation, as the case may be, will be made available by the Trustees to the Holders of the Securities. The Company will indemnify each Trustee and each Holder of the Securities for and hold them harmless against the full amount of any Taxes paid by or on behalf of such Trustee or such Holder to the extent received such Trustee or such Holder was entitled to Additional Amounts with respect thereto. A certificate as to the amount of such requested indemnification, delivered by the Trustee or by the Holder, shall be conclusive absent manifest error. In addition, the Company will pay and indemnify the Trustee and the Holder for any present or future stamp, court or documentary taxes, and any other excise or property taxes, charges or similar levies which arise in a Tax Jurisdiction from the relevant tax authorities execution and delivery of this Indenture or the execution, delivery or registration of the Securities or with respect to payments on the Securities. All amounts discussed in this paragraph shall be payable by the usual course or as generally provided) evidencing that Company on demand and shall bear interest at the rate borne by the Securities, calculated from the date incurred by the Holder to the date paid by the Company. All such payment has been made by amounts shall be Additional Amounts for the purpose of this Indenture. If the Company or any Guarantor. The Trustee Subsidiary Guarantor becomes aware that it will make such evidence available be obligated to the Holders upon request. At least 30 days prior pay Additional Amounts with respect to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payableSecurities, if the Company or any Guarantor becomes obligated will deliver to pay Additional Amounts with respect the Trustees on a date that is at least 30 days prior to such the date of that payment (unless such the obligation to pay Additional Amounts arises after the 30th day prior to the date on which that payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent shall notify the Trustees promptly thereafter) an Officers’ Certificate stating the fact that such Additional Amounts will be payable, payable and the amount estimated to be so payable and will payable. The Officers’ Certificate must also set forth such any other information as reasonably necessary to enable such any Paying Agent to pay such Additional Amounts to the Holders of the Notes on the relevant payment date. Whenever The Trustees shall be entitled to rely solely on such Officers’ Certificate as conclusive proof that such payments are necessary. The Company will provide the Trustees with documentation reasonably satisfactory to the Trustees evidencing the payment of Additional Amounts. References in this Indenture there is mentionedto interest, in any context, (a) principal or other payments made or to be made by the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or Company with respect to any of the Notes or the Note Guarantees, such mention is Securities shall be deemed also to include mention of refer to the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would Section 3.01 that may be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic provisions of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will 10.05 shall survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinIndenture.

Appears in 2 contracts

Sources: Indenture (Taseko Mines LTD), Indenture (Taseko Mines LTD)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor either Issuer under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (hereinafter "Taxes”), ") unless the Company withholding or any Guarantor (or any Paying Agent) deduction of such Taxes is then required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of the government of the Republic of ▇▇▇▇▇▇▇▇ Islands or any political subdivision or any authority or agency therein or thereof having power to tax, or any other jurisdiction in which the Company or any Guarantor either Issuer (including any successor entitiesentity) is then organized or is otherwise resident for Tax purposes or any political subdivision thereof or therein tax purposes, or any jurisdiction by from or through which payment is made (eachincluding, without limitation, the jurisdiction of each Paying Agent) (each a “Relevant Taxing "Specified Tax Jurisdiction”) "), will at any time be required to be made from any payment payments made under or with respect to the Notes or the Note GuaranteesNotes, the Company or any such Guarantor Issuer will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in or the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts") as may be necessary so that the net amount received in respect of such payments by such a Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted; provided, provided however, that no the foregoing obligation to pay Additional Amounts will be payable with respect to any Notedoes not apply to: (a1) surrendered by any Taxes that would not have been so imposed but for the Holder or the beneficial owner thereof of the Notes having any present or former connection with the Specified Tax Jurisdiction (other than the mere acquisition, ownership, holding, enforcement or receipt of payment in respect of the Notes); (2) any estate, inheritance, gift, sales, excise, transfer, personal property tax or similar tax, assessment or governmental charge; (3) any Taxes payable other than by deduction or withholding from payments under, or with respect to, the Notes; (4) any Taxes imposed as a result of the failure of the Holder or beneficial owner of the Notes, to the extent it is legally entitled to do so, to complete, execute and deliver to the Partnership any form or document to the extent applicable to such Holder or beneficial owner that may be required by law or by reason of administration of such law and which is reasonably requested in writing to be delivered to the Partnership in order to enable the Issuers to make payments on the Notes without deduction or withholding for Taxes, or with deduction or withholding of a lesser amount, which form or document will be delivered within 60 days of a written request therefor by the Partnership; (5) any Taxes that would not have been so imposed but for the beneficiary of the payment having presented a Note for payment of principal (in cases in which presentation is required) more than 30 days after the later of (1) the date on which such payment first or such Note became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on whichwhich payment thereof is duly provided for, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, whichever is later (except to the extent that the Holder would have been entitled to such Additional Amounts had the Note been presented on surrendering the last day of such Note for payment on any day during the applicable 30-day period); (b6) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction imposed on or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee Issuers to any the Holder who if such Holder is a fiduciary or partnership or Person other than the sole beneficial owner of such payment payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such partnership or the beneficial owner of such payment would not have been entitled to any Additional Amounts had such beneficiary or settlor beneficiary, settlor, member or beneficial owner been the Holderactual Holder of such Note; (h7) on account of any Tax Taxes that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is are required to be made by reason of that deducted or withheld on a payment being (x) paid pursuant to a bank account opened in a financial institution established inEuropean Council Directive 2003/48/EC or any law implementing, or (y) paid or accrued introduced in order to a person established or domiciled inconform to, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantordirective; or (m) on account of 8) any combination of the items (1) through (7) above. The Company or any Guarantor . (b) If either Issuer becomes aware that it will also make such withholding or deduction and remit the full amount deducted or withheld be obligated to the relevant authority in accordance pay Additional Amounts with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant respect to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or Notes, the Note Guarantees is due Partnership will deliver to the Trustee and payable, if Paying Agent at least 30 days prior to the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such date of that payment (unless such the obligation to pay Additional Amounts arises after the 30th day prior to the date on which that payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it the Partnership will be paid notify the Trustee and Paying Agent promptly thereafter and but in any case before no event later than two Business Days prior to the relevant payment date), the Company will deliver to each Paying Agent date of payment) an Officers’ Officer's Certificate stating the fact that such Additional Amounts will be payable, payable and the amount so payable and will payable. The Officer's Certificate must also set forth such any other information as necessary to enable such the Paying Agent to pay such Additional Amounts to Holders on the relevant payment date. The Trustee and Paying Agent will be entitled to rely solely on such Officer's Certificate as conclusive proof that such payments are necessary. The Partnership will provide the Trustee and Paying Agent with documentation evidencing the payment of Additional Amounts. (c) Each Issuer will make all withholdings and deductions required by law and will remit the full amount deducted or withheld to the relevant governmental authority on a timely basis in accordance with applicable law. As soon as practicable, the Partnership will provide the Trustee and Paying Agent with an official receipt or, if official receipts are not obtainable, other documentation evidencing the payment of the Taxes so withheld or deducted. Upon request, copies of those receipts or other documentation, as the case may be, will be made available by the Trustee and Paying Agent to the Holders of the Notes on the payment date. Notes. (d) Whenever in this the Indenture there is mentionedreferenced, in any context, (a) the payment of amounts based upon the principal (and premium, if any), (b) purchase prices in connection with a purchase amount of the NotesNotes or of principal, (c) interest or (d) any other amount payable on under, or with respect to any of to, the Notes or the Note GuaranteesNotes, such mention is reference will be deemed to include mention of the payment of Additional Amounts provided for in as described under this section heading to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. (e) Each Issuer will indemnify a Holder, within 10 Business Days after written demand therefor, for the full amount of any Taxes paid by such Holder to a governmental authority of a Specified Tax Jurisdiction, on or with respect to any payment by on or account of any obligation of such Issuer to withhold or deduct an amount on account of Taxes for which such Issuer would have been obliged to pay Additional Amounts hereunder and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant governmental authority. The Company A certificate as to the amount of such payment or liability delivered to the Partnership by a Guarantor, as the case may be, Holder will be conclusive absent manifest error. (f) Each Issuer will pay any present or future stamp, court, issue, registration, value added, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Specified Tax Jurisdiction from the initial issue execution, delivery, enforcement or registration of the Notes Notes, the Indenture or on any other document or instrument in relation thereof, or the enforcement receipt of any payments with respect to the Notes, other than, for the avoidance of doubt, any Transfer Taxes (each such tax, a "Note GuaranteeIssuance Tax"), and such Issuer will indemnify the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to Holders for any such Note Issuance Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer paid by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinHolders.

Appears in 2 contracts

Sources: Supplemental Indenture (Dynagas LNG Partners LP), Supplemental Indenture (Dynagas Finance Inc.)

Additional Amounts. All payments made by by, or on behalf of of, the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will Notes, including, but not limited to, payments of principal (including, if applicable, any Redemption Price) and payments of interest, shall be made free and clear of and without withholding or deduction for for, or on account of of, any present or future taxtaxes, dutyduties, levy, impost, assessment assessments or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”)charges of whatever nature, unless the Company such withholding or any Guarantor (or any Paying Agent) deduction is required to withhold by law. In the event that any such taxes, duties, assessments or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes governmental charges imposed or levied by or on behalf of within any jurisdiction in which the Company or any Guarantor (including any successor entities) is then is, for tax purposes, organized or resident for Tax purposes or doing business or through which any payment is made or deemed made (or any political subdivision or taxing authority thereof or therein or any jurisdiction by or through which payment is made therein) (each, as applicable, a “Relevant Taxing Jurisdiction”) are required to be withheld or deducted from any payment payments made under by the Company or its Paying Agent with respect to the Notes or the Note GuaranteesNotes, the Company or any such Guarantor will shall pay to each Holder the holder, of the Notes that are outstanding on such Additional Amounts (the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so to ensure that the net amount received by such Holder (including the Additional Amounts) beneficial owner after such withholding or deduction will not be less than (and after deducting any taxes on the amount such Holder Additional Amounts) shall equal the amounts that would have been received if by such Taxes beneficial owner had not no such withholding or deduction been withheld or deductedrequired; provided, provided that no Additional Amounts will shall be payable with respect to any Notepayable: (a) surrendered by for or on account of: (i) any tax, duty, assessment or other governmental charge that would not have been imposed but for: (A) the Holder existence of any present or former connection between the holder or beneficial owner of such Note and the Relevant Taxing Jurisdiction, other than merely holding or enforcing rights under such Note or the beneficial owner thereof for payment receipt of principal payments or deliveries thereunder; (B) the presentation of such Note (in cases in which presentation is required) more than 30 days after the later of (1I) the date on which the payment of the principal of (including the Redemption Price, if applicable) and interest on such Note became due and payable pursuant to the terms thereof or (II) the date on which such payment first became due and (2) if the full amount payable has not been received by was made or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trusteeduly provided for, except to the extent that the Holder holder or beneficial owner of such Note would have been entitled to such Additional Amounts on surrendering presenting such Note for payment on any day during the applicable 30-day period;last date of such period of 30 days; or (bC) if any Tax, assessment or other governmental charge is imposed or withheld by reason the failure of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder holder or beneficial owner to comply with a timely request from the Company, addressed to the holder, to provide certification, information, documents or other evidence concerning the such holder’s or beneficial owner’s nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of Jurisdiction, or to make any declaration or satisfy any other reporting requirement relating to such Holder or beneficial owner which matters, if and to the extent that due and timely compliance with such request is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction in order to reduce or eliminate any withholding or deduction as a precondition to exemption from all which Additional Amounts would have otherwise been payable to such holder or part of such tax, assessment or governmental chargebeneficial owner; (cii) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, salevalue added, use, sales, transfer, excise, personal property or other similar Taxtax, assessment or other governmental charge; (eiii) except in the case of the winding up of the Company any tax, duty, assessment or any Guarantor, if such Note other governmental charge that is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment payments or deliveries under or with respect to the Notes or Note GuaranteesNotes; (giv) any tax, assessment, withholding or deduction required by sections 1471 through 1474 of the Code or any current or future U.S. Treasury Regulations or rulings promulgated thereunder (“FATCA”), any law, regulation or other official guidance enacted in any jurisdiction implementing FATCA, any intergovernmental agreement between the United States of America and any other jurisdiction to implement FATCA or any law enacted by such other jurisdiction to give effect to such agreement, or any agreement with the IRS under FATCA; (v) any tax, assessment or other governmental charge imposed in connection with a Note presented for payment (where presentation is required for payment) by or on behalf of a holder or beneficial owner who would have been able to avoid such tax, assessment or governmental charge by presenting the relevant Note to, or otherwise accepting payment or delivery from, another paying agent or conversion agent; or (vi) any combination of taxes referred to in the preceding clauses (i), (ii), (iii), (iv) or (v); or (b) with respect to any payment made by or on behalf of the Company or any Guarantor in respect principal of any Note or Note Guarantee to any Holder who (including the Redemption Price, if applicable) and interest on such Note, if the holder is a fiduciary or fiduciary, partnership or person other than the sole beneficial owner of such that payment or delivery to the extent that such payment or delivery would be required to be included in the income under the laws of the Relevant Taxing Jurisdiction, for tax purposes, of a beneficiary or settlor with respect to the fiduciary, a partner or member of that partnership or a beneficial owner who would not have been entitled to any such Additional Amounts had such beneficiary or settlor that beneficiary, settlor, partner, member or beneficial owner been the Holder;holder thereof. (hc) on account The payment of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result principal of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of including the total combined voting power of all classes of stock of the Company entitled to voteRedemption Price, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(hif applicable) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of interest on any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course Note or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts other amount payable with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will shall be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section the Indenture to the extent, that, in such context, extent that Additional Amounts are, were or would be payable in respect thereof. The . (d) If the Company is required to make any deduction or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located withholding from the initial issue or registration of the Notes or on the enforcement of any payments or deliveries with respect to the Notes, any Note GuaranteeNotes pursuant to this Section 1.10 herein, the Indenture or any other document related thereto (limited, in case of Taxes attributable Company shall deliver to the receipt of payments thereto, Trustee and the holders official tax receipts evidencing the remittance to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations the relevant tax authorities of the Company amounts so withheld or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereindeducted.

Appears in 2 contracts

Sources: Third Supplemental Indenture (Athene Holding LTD), Second Supplemental Indenture (Athene Holding LTD)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (hereinafter “Taxes”), ) unless the Company withholding or any Guarantor (or any Paying Agent) deduction of such Taxes is then required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of the government of the Republic of ▇▇▇▇▇▇▇▇ Islands or any political subdivision or any authority or agency therein or thereof having power to tax, or any other jurisdiction in which the Company or any Guarantor (including any successor entitiesentity) is then organized or is otherwise resident for Tax purposes or any political subdivision thereof or therein tax purposes, or any jurisdiction by from or through which payment is made (eachincluding, without limitation, the jurisdiction of each paying agent) (each a “Relevant Taxing Specified Tax Jurisdiction”) ), will at any time be required to be made from any payment payments made under or with respect to the Notes or the Note Guarantees, Notes. the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received in respect of such payments by such a Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted; provided, provided however, that no the foregoing obligation to pay Additional Amounts will be payable with respect to any Notedoes not apply to: (ai) surrendered by any Taxes that would not have been so imposed but for the Holder or the beneficial owner thereof of the Notes having any present or former connection with the Specified Tax Jurisdiction (other than the mere acquisition, ownership, holding, enforcement or receipt of payment in respect of the Notes); (ii) any estate, inheritance, gift, sales, excise, transfer, personal property tax or similar tax, assessment or governmental charge; (iii) any Taxes payable other than by deduction or withholding from payments under, or with respect to, the Notes; (iv) any Taxes imposed as a result of the failure of the Holder or beneficial owner of the Notes to complete, execute and deliver to the Company any form or document to the extent applicable to such Holder or beneficial owner that may be required by law or by reason of administration of such law and which is reasonably requested in writing to be delivered to the Company in order to enable the Company to make payments on the Notes without deduction or withholding for Taxes, or with deduction or withholding of a lesser amount, which form or document will be delivered within 60 days of a written request therefor by the Company; (v) any Taxes that would not have been so imposed but for the beneficiary of the payment having presented a Note for payment of principal (in cases in which presentation is required) more than 30 days after the later of (1) the date on which such payment first or such Note became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on whichwhich payment thereof is duly provided for, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, whichever is later (except to the extent that the Holder would have been entitled to such Additional Amounts had the Note been presented on surrendering the last day of such Note for payment on any day during the applicable 30-day period); (bvi) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction imposed on or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any the Holder who if such Holder is a fiduciary or partnership or Person other than the sole beneficial owner of such payment payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such partnership or the beneficial owner of such payment would not have been entitled to any Additional Amounts had such beneficiary or settlor beneficiary, settlor, member or beneficial owner been the Holderactual Holder of such Note; (hvii) on account of any Tax Taxes that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is are required to be made by reason of that deducted or withheld on a payment being (x) paid pursuant to a bank account opened in a financial institution established inEuropean Council Directive 2003/48/EC or any law implementing, or (y) paid or accrued introduced in order to a person established or domiciled inconform to, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantordirective; or (mviii) on account of any combination of the items (i) through (vii) above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts . (to the extent received from the relevant tax authorities in the usual course or as generally providedb) evidencing that such payment has been made by If the Company or any Guarantor. The Trustee becomes aware that it will make such evidence available be obligated to the Holders upon request. At least 30 days prior pay Additional Amounts with respect to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payableNotes, if the Company or any Guarantor becomes obligated will deliver to pay Additional Amounts with respect the Trustee and Paying Agent at least 30 days prior to such the date of that payment (unless such the obligation to pay Additional Amounts arises after the 30th day prior to the date on which that payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each notify the Trustee and Paying Agent in writing promptly thereafter but in no event later than five calendar days prior to the date of payment) an Officers’ Certificate stating the fact that such Additional Amounts will be payable, payable and the amount so payable and will payable. The Officers’ Certificate shall also set forth such any other information as necessary to enable such the Paying Agent to pay such Additional Amounts to Holders on the relevant payment date. The Trustee and Paying Agent will be entitled to rely solely on such Officers’ Certificate as conclusive proof that such payments are necessary. The Company will provide the Trustee and Paying Agent with documentation evidencing the payment of Additional Amounts. (c) The Company will make all withholdings and deductions required by law and will remit the full amount deducted or withheld to the relevant governmental authority on a timely basis in accordance with applicable law. As soon as practicable, the Company will provide the Trustee and Paying Agent with an official receipt or, if official receipts are not obtainable, other documentation evidencing the payment of the Taxes so withheld or deducted. Upon written request, copies of those receipts or other documentation, as the case may be, will be made available by the Trustee and Paying Agent to the Holders of the Notes on the payment date. Notes. (d) Whenever in the Indenture or this First Supplemental Indenture there is mentionedreferenced, in any context, (a) the payment of amounts based upon the principal (and premium, if any), (b) purchase prices in connection with a purchase amount of the NotesNotes or of principal, (c) interest or (d) any other amount payable on under, or with respect to any of to, the Notes or the Note GuaranteesNotes, such mention is reference will be deemed to include mention of the payment of Additional Amounts provided for in as described under this section heading to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. . (e) The Company will indemnify a Holder, within 10 Business Days after written demand therefor, for the full amount of any Taxes paid by such Holder to a governmental authority of a Specified Tax Jurisdiction, on or with respect to any payment by on or account of any obligation of the Company to withhold or deduct an amount on account of Taxes for which the Company would have been obligated to pay Additional Amounts hereunder and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant governmental authority. A certificate as to the amount of such payment or liability delivered to the Company by a Guarantor, as the case may be, Holder will be conclusive absent manifest error. (f) The Company will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Specified Tax Jurisdiction from the initial issue execution, delivery, enforcement or registration of the Notes Notes, the Indenture or on any other document or instrument in relation thereof, or the enforcement receipt of any payments with respect to the Notes, any Note Guarantee, and the Indenture or any other document related thereto (limited, in case of Taxes attributable to Company will indemnify the receipt of payments thereto, to Holders for any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer taxes paid by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinHolders.

Appears in 2 contracts

Sources: Supplemental Indenture (Paragon Shipping Inc.), Supplemental Indenture (Scorpio Bulkers Inc.)

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agenta Guarantor, if any) or other applicable withholding agent is so required by law to deduct or withhold taxes imposed by Bermuda or deduct any amount for or another Relevant Tax Jurisdiction on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (eachpayments to Holders, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor it will pay to each any Holder of the Notes that are outstanding on the date of the required payment, such so entitled all additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as that may be necessary so that the net every Net Payment of interest, principal, premium or other amount received by such Holder (including the Additional Amounts) after such withholding beneficial owner on that Note or deduction the guarantee will not be less than the amount such Holder would have received if such Taxes had not been withheld provided for in that Note or deducted, provided that no Additional Amounts will be payable with respect to any Note:the Note Guarantee. (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of The Company (and Guarantors, if any) will also indemnify and reimburse Holders for: (1) Taxes (including any interest, penalties and related expenses) imposed on the date on which such payment first became due and Holders (2) or if the full amount payable has a Holder is not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due dateowner, the date on which, the full amount having been so received, notice to that effect shall have been given beneficial owner) by a Relevant Tax Jurisdiction if and to the Holders or the beneficial owners by the Trustee, except to the same extent that the a Holder would have been entitled to such Additional Amounts receive additional amounts if the Company (or a Guarantor) or other applicable withholding agent had been required to deduct or withhold those taxes from payments on surrendering such the Notes or the Note for payment on Guarantees; and (2) Stamp, court, documentary or similar taxes or charges (including any day during interest, penalties and related expenses) imposed by a Relevant Tax Jurisdiction in connection with the applicable 30-day period;execution, delivery, enforcement or registration of the Notes or the Note Guarantees or other related documents and obligations. (b) if The Company (or a Guarantor) will not pay additional amounts to any TaxHolder for or on account of any of the following: (1) Any tax, assessment or other governmental charge imposed solely because at any time there is or was a connection between such Holder (or between a fiduciary, settlor, beneficiary, member or shareholder of or possessor of power over the relevant holder if the holder is an estate, nominee, trust, partnership, limited liability company, or corporation) and the Relevant Tax Jurisdiction imposing the tax (other than the mere receipt of a payment or the acquisition, ownership, disposition or holding of, or enforcement of rights under, a Note or the Note Guarantees); (2) Any estate, inheritance, gift or any similar tax, assessment or other governmental charge; (3) Any tax, assessment or other governmental charge imposed solely because such Holder (or withheld by reason of if such Holder is not the failure to comply by the Holder or, if differentbeneficial owner, the beneficial owner of the Note owner) fails to comply with a request addressed to such Holder or beneficial owner to provide informationany certification, documents identification or other evidence reporting requirement concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction taxing jurisdiction of such Holder or any beneficial owner which of the Note or the Note Guarantees, if compliance is required by law or imposed by an applicable income tax treaty to which the jurisdiction imposing the tax is a statuteparty, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to an exemption from all or part of such the tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental chargecharge for which such Holder is eligible and the Company (or a Guarantor) has given the Holders at least 60 days’ notice that Holders will be required to provide such information and identification; (e4) except in the case of the winding up of the Company Any tax, assessment or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment other governmental charge with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any a Note or a Note Guarantee presented for payment more than 30 days after the date on which payment became due and payable or the date on which payment thereof is duly provided for and notice thereof given to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment Holders, whichever occurs later, except to the extent that a beneficiary or settlor or beneficial owner such Holder of the Note would not have been entitled to additional amounts on presenting the Note for payment on any Additional Amounts had such beneficiary or settlor or beneficial owner been date during the Holder;30-day period; and (h5) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such Any withholding or deduction for French taxes imposed on a payment to an individual that is required to be made pursuant to the European Union Directive on the taxation of savings income, which was adopted by reason of that payment being (x) paid to a bank account opened in a financial institution established inthe ECOFIN Council on June 3, 2003, or (y) paid any law implementing or accrued complying with, or introduced in order to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guaranteesconform to, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinDirective.

Appears in 2 contracts

Sources: Indenture (Aircastle LTD), Indenture (Aircastle LTD)

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor PCS under or with respect to the Notes or the Note Guarantees will Securities shall be made in U.S. Dollars and shall be free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note:withholding (a) surrendered by with which PCS does not deal at arm's length (within the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf meaning of the relevant Holder Income Tax Act (Canada)) at the time of making such payment, or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge which is imposed or withheld subject to such Taxes by reason of the failure to comply its being connected with Canada or any province or any territory thereof otherwise than by the Holder or, if different, the beneficial owner mere holding of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, Securities or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor PCS will also in accordance with applicable law (a) make such withholding or deduction deduction, and (b) remit the full amount deducted or withheld to the relevant authority in accordance with applicable lawauthority. The Company PCS will furnishfurnish to the Holder of such Securities, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been by PCS. PCS will indemnify and hold harmless each Holder (other than an Excluded Holder) and upon written request reimburse each such Holder for the amount of (a) any Taxes so levied or imposed and paid by such Holder as a result of payments made by the Company under or with respect to Securities, (b) any Guarantor. The Trustee will make liability (including penalties, interest and expenses) arising therefrom or with respect thereto, and (c) any Taxes imposed with respect to any reimbursement under (a) or (b) in this sentence, but excluding any such evidence available to the Holders upon requestTaxes on such Holder's net income. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees Securities is due and payable, if the Company or any Guarantor becomes PCS will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payablepayment, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company PCS will deliver to each Paying Agent the Trustee an Officers’ Officer's Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever Wherever in this Indenture there is mentioned, in any contextcontext except in the case of Section 502(a), the payment of the principal of (aor premium, if any) or interest on, or in respect of, any Security of any series or payment of any related coupon or the net proceeds received on the sale or exchange of any Security of any series, the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on under or with respect to any of the Notes or the Note Guaranteesa Security, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company obligations of PCS under this Section 1009 shall survive the termination of this Indenture and the payment of all amounts under or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinSecurities.

Appears in 2 contracts

Sources: Indenture (Potash Corporation of Saskatchewan Inc), Indenture (Potash Corporation of Saskatchewan Inc)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under the Subsidiary Guarantors on or with respect to the Notes or the Note Guarantees will pursuant to this Indenture shall be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and Taxes imposed by any other liability with respect thereto) (“Taxes”)Canadian Taxing Authority, unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authorityCanadian Taxing Authority. If the Company or any Subsidiary Guarantor (or any Paying Agentother payor) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Canadian Taxing Jurisdiction”) Authority from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, it shall: (1) make such withholding or deduction; (2) remit the full amount deducted or withheld to the relevant government authority in accordance with applicable law; (3) pay the additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder each holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder the holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b4) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect furnish to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishHolders, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable lawdue, to the Trustee, certified copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or such Subsidiary Guarantor; (5) indemnify and hold harmless each Holder (other than an Excluded Holder, as defined in paragraph (b) below) for the amount of (a) any Guarantor. The Trustee will make Taxes paid by each such evidence available Holder as a result of payments made on or with respect to the Holders upon request. At Notes, (b) any liability (including penalties, interest and expenses) arising from or with respect to such payments and (c) any Taxes imposed with respect to any reimbursement under the foregoing clauses (a) or (b), but excluding any such Taxes that are in the nature of Taxes on net income, taxes on capital, franchise taxes, net worth taxes and similar taxes; and (6) at least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Subsidiary Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior payment, deliver to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. (b) Notwithstanding the provisions of paragraph (a) above, no Additional Amounts shall be payable to a Person (an “Excluded Holder”) in respect of a payment made to such Person under or with respect to a Note: (1) if such Person is subject to such Taxes by reason of its being connected with Canada or any province or territory thereof otherwise than by the mere acquisition, holding or disposition of Notes or the receipt of payments thereunder; (2) if such Person waives its right to receive Additional Amounts; (3) if the Company or such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Income Tax Act (Canada), with such Person at the time of such payment; (4) if the Company or such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Income Tax Act (Canada), with another Person to whom the Company or such Subsidiary Guarantor has an obligation to pay an amount in respect of the Notes; or (5) to the extent that the Taxes giving rise to such Additional Amounts would not have been imposed but for such person being, or not dealing at arm’s length (within the meaning of the Income Tax Act (Canada)) with, a “specified shareholder” of the Company for purposes of the thin capitalization rules in the Income Tax Act (Canada). Whenever in this Indenture there is mentionedAny reference, in any contextcontext in this Indenture, (a) to the payment of principal (and principal, premium, if any), (b) purchase prices in connection with a purchase redemption price, Change of the NotesControl Amount, (c) interest offer price and interest, or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNote, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)payable. The obligations of the Company or any Guarantor described in under this Section 4.21 4.20 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company or any Guarantor Subsidiary Guarantor, as applicable, is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department organized or any political subdivision or taxing authority or agency thereof or therein. It is understood for purposes of this Section 4.20 that the determination of the amount of Additional Amounts shall be made at the beneficial owner level.

Appears in 2 contracts

Sources: Indenture (Quebecor Media Inc), Indenture (Videotron Ltee)

Additional Amounts. All After the occurrence of a Non-U.S. Domicile Transaction with respect to any Obligor or any successor in interest to an Obligor (each such Obligor or successor, a “non-U.S. Payor”), all payments made by or a non-U.S. Payor on behalf of the Company or any Guarantor under or with respect to the Notes or any guarantee of the Note Guarantees Notes will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other similar governmental charge (including without limitationcollectively, penalties, interest and any other liability with respect thereto) (“Taxes”), ) unless the Company such withholding or any Guarantor (or any Paying Agent) deduction is required to withhold or deduct Taxes by law or by the interpretation or of administration thereof by the relevant taxing authorityof law. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of of: (1) any jurisdiction in which (other than the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes United States or any political subdivision or governmental authority thereof or therein or any jurisdiction by having power to tax) from or through which payment on the Notes or any guarantee of the Notes is made by or on behalf of a non-U.S. Payor, or any political subdivision or governmental authority thereof or therein having the power to tax; or (each2) any jurisdiction (other than the United States or any political subdivision or governmental authority thereof or therein having the power to tax) in which a non-U.S. Payor that actually makes a payment on the Notes or its guarantee of the Notes is organized or otherwise considered to be a resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax (each of clauses (1) and (2), a “Relevant Taxing Jurisdiction”) ), will at any time be required from any payment payments made under or with respect to the Notes or any guarantee of the Note GuaranteesNotes, including payments of principal, redemption price, interest or premium, if any, the Company or any such Guarantor non-U.S. Payor will pay to each Holder of the Notes that are outstanding on the date of the required payment, (together with such payments) such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount amounts received in respect of such payments by such the Holder (including the Additional Amounts) after such withholding or deduction (including any such deduction or withholding from such Additional Amounts), will not be less than the amount such Holder amounts that would have been received if in respect of such Taxes had not been withheld payments on the Notes or deductedthe guarantees of the Notes in the absence of such withholding or deduction; provided, provided however, that no such Additional Amounts will be payable with respect to any Notefor or on account of: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) any Taxes that would not have been so imposed or levied but for the date on which such payment first became due and (2) if the full amount payable has not been received by existence of any present or on behalf of former connection between the relevant Holder (or the beneficial owner on between a fiduciary, settlor, beneficiary, partner, member or prior to such due dateshareholder of, or possessor of power over, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder orrelevant Holder, if different, the beneficial owner of the Note with a request addressed to such Holder is an estate, nominee, trust, partnership, limited liability company or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with corporation) and the Relevant Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Relevant Taxing Jurisdiction) but excluding, in each case, any connection arising solely from the acquisition, ownership or holding of such Notes or any guarantee of the Notes or the enforcement or receipt of any payment in respect thereof; (2) any Taxes that would not have been so imposed or levied if the Holder of the Note had complied with a reasonable request in writing of the non-U.S. Payor (such request being made at a time that would enable such Holder acting reasonably to comply with that request) to make a declaration of nonresidence or beneficial owner any other claim or filing or satisfy any certification, identification, information or reporting requirement for exemption from, or reduction in the rate of, withholding to which it is entitled (provided that such declaration of nonresidence or other claim, filing or requirement is required or imposed by a statutethe applicable law, treaty, regulation or official administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all from, or part reduction in the rate of deduction or withholding of, any such tax, assessment or governmental chargeTaxes); (c3) held any Taxes that are payable otherwise than by withholding from a payment on or with respect to the Notes or any guarantee of the Notes; (4) any estate, inheritance, gift, sales, excise, transfer, personal property or similar Taxes; (5) any Taxes imposed in connection with a Note presented for payment (where presentation is required for payment) by or on behalf of a Holder or beneficial owner who would have been able to avoid such Tax by presenting the relevant Note to, or otherwise accepting payment from, another Paying Agent; (6) any Taxes payable under Sections 1471 through 1474 of the Code as of the date of the Offering Memorandum (or any amended or successor version that is liable substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant thereto, and any intergovernmental agreements implementing the foregoing (including any legislation or other official guidance relating to such intergovernmental agreements); or (7) any combination of the above. Such Additional Amounts will also not be payable (x) if the payment could have been made without such deduction or withholding if the beneficiary of the payment had presented the Note for Taxes in respect payment (where presentation is required) within 30 days after the relevant payment was due and first made available for payment to the Holder (provided that notice of such Note by reason of having some connection with payment is given to the Relevant Taxing Jurisdiction other than Holders), except to the mere purchase, holding or disposition of any Note, or extent that the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in such Person would have been entitled to Additional Amounts on presenting the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in on any date during such 30-day period or (y) where, had the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of the Note been the Holder of the Note, such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any payment of Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account by reason of any Tax that is imposed pursuant of clauses (1) to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a 7) inclusive above. The non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); Payor will (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s make or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required cause to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is any required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and (ii) remit or cause to be remitted the full amount deducted or withheld to the relevant taxing authority of the Relevant Taxing Jurisdiction in accordance with applicable law. The Company non-U.S. Payor will furnish, within 60 days after the date use reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes is due pursuant to applicable law, so deducted or withheld from each relevant taxing authority of each Relevant Taxing Jurisdiction imposing such Taxes and will provide such certified copies to the TrusteeTrustee and the Holders. If, copies notwithstanding the efforts of tax receipts (such non-U.S. Payor to obtain such receipts, the extent received from same are not obtainable, such non-U.S. Payor will provide the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to and the Holders upon requestwith other reasonable evidence. At If any non-U.S. Payor will be obligated to pay Additional Amounts under or with respect to any payment made on the Notes, at least 30 days prior to each the date on which any payment under or with respect of such payment, the non-U.S. Payor will deliver to the Notes or Trustee an Officer’s Certificate stating the Note Guarantees is due fact that Additional Amounts will be payable and payable, if the Company or any Guarantor becomes obligated amount so payable and such other information necessary to enable the Paying Agent to pay Additional Amounts with respect to such Holders on the relevant payment date (unless such obligation to pay Additional Amounts arises after the 30th day less than 45 days prior to the date on which relevant payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter the non-U.S. Payor shall deliver such Officer’s Certificate and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts promptly as practicable after the date that is 30 days prior to the Holders payment date). The Trustee shall be entitled to rely solely on such Officer’s Certificate as conclusive proof that such payments are necessary. Wherever in this Indenture, the Notes or any guarantee of the Notes on the payment date. Whenever in this Indenture there is mentionedmention of, in any context, : (a1) the payment of principal principal; (and premium, if any), (b2) redemption prices or purchase prices in connection with a redemption or purchase of the Notes, ; (c3) interest or interest; or (d4) any other amount payable on or with respect to any of the Notes or any guarantee of the Note Guarantees, Notes; such mention is reference shall be deemed to include mention of the payment of Additional Amounts provided for in as described under this section Section 2.13 to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, non-U.S. Payor will pay any present or future stamp, court or documentary taxes Taxes, or any other excise or excise, property taxes, charges or similar levies Taxes that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Relevant Taxing Jurisdiction from the execution, delivery, issuance, initial issue resale, registration or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the this Indenture or any other document related or instrument in relation thereto (limited, in case other than a transfer of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveNotes). The foregoing obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company a non-U.S. Payor is organized or any Guarantor is incorporated, engaged in business for tax purposes or otherwise considered to be a resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision or taxing authority or agency thereof or therein.

Appears in 2 contracts

Sources: Indenture, Indenture (Broadcom Inc.)

Additional Amounts. (a) All payments made by or on behalf of the Company Issuer, the Co-Issuer or any Guarantor (a “Payor”) under or with respect to the Notes or the Note Guarantees will be made free and clear of of, and without deduction or withholding or deduction for or on account of of, any present or future taxtaxes, dutyduties, levy, impost, assessment assessments or other governmental charge charges of whatsoever nature imposed, levied, collected, withheld or assessed (including without limitationcollectively, penalties, interest and any other liability with respect thereto) (“Taxes”)) by the United States, unless the Company Netherlands, any other jurisdiction in which the Issuer, the Co-Issuer or any Guarantor (is then incorporated, organized, engaged in business for tax purposes, or resident for tax purposes, any Paying Agent) jurisdiction from or through which any such payment is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied made by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes Payor or any political subdivision or taxing authority thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”), unless such deduction or withholding is required by law. (b) from any payment made In the event such deduction or withholding of Taxes is required with respect to payments under or with respect to the Notes or by law of any Relevant Taxing Jurisdiction (other than the Note GuaranteesUnited States), subject to the limitations described below, the Company or any such Guarantor Payors will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the every net amount payment received by the beneficial owner of such Holder Note of principal of or interest or any other amount payable on the Notes (including the Additional Amounts) upon redemption), after deduction or withholding for or on account of such withholding or deduction Taxes, will not be less than the amount such Holder that would have been received if in respect of such Taxes had not been withheld payments in the absence of such deduction or deducted, provided that no withholding for or on account of such Taxes. Payment of Additional Amounts will shall be payable made in accordance with respect the procedures of any applicable securities depositary. However, the Payors’ obligation to any Notepay Additional Amounts shall not apply to: (ai) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of any Taxes that would not have been so imposed but for: (1A) the date on which such payment first became due and (2) if the full amount payable has not been received by existence of any present or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to former connection between such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of between a fiduciary, settlor, beneficiary, member member, partner or shareholder or other equity owner of, or possessor of a person having a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a nominee, a trust, a partnership limited liability company, a partnership, a corporation or other entity) and the Relevant Taxing Jurisdiction, including such Holder or beneficial owner (or such fiduciary, settlor, beneficiary, member, partner or shareholder or other equity owner or person having such a corporationpower) being or having been a citizen or resident or treated as a personal holding company, passive foreign investment company, resident of the Relevant Taxing Jurisdiction or controlled foreign corporation for United States federal income tax purposes, being or as having been engaged in a corporation that accumulates earnings to avoid U.S. federal income taxtrade or business in the Relevant Taxing Jurisdiction or having or having had a permanent establishment in the Relevant Taxing Jurisdiction; (kB) when the failure of such withholding Holder or deduction for French taxes beneficial owner to comply with a request to provide any certification, information or other reporting requirement, if compliance is required under tax laws and regulations of Relevant Taxing Jurisdiction to be made by reason of that payment being (x) paid establish entitlement to a bank account opened in a financial institution established inpartial or complete exemption from such Taxes (including, but not limited to, the requirement to provide an applicable Internal Revenue Service Form W-8 (with any required attachment), or (y) paid any subsequent version thereof or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôtssuccessor thereto); (lii) when such withholding or deduction [reserved]; (iii) any Taxes that would not have been so imposed but for French taxes is required to be made the presentation by reason of the Holder or beneficial owner of such Note for payment on a date more than 30 days after the date on which such payment became due and payable or the date on which payment of the Note is duly provided for and notice is given to such Holders, whichever occurs later, except to the extent that such Holder or beneficial owner would have been entitled to such Additional Amounts on presenting such Note on any date during such 30-day period; (iv) any estate, inheritance, gift, sales, transfer, personal property, capital gains, wealth or similar Taxes; (v) any Taxes payable otherwise than by deduction or withholding from a payment on such Note or with respect to any note Guarantee; (vi) any Taxes payable by a Holder that is not the beneficial owner of the Note concurrently being Note, or that is a shareholder fiduciary, partnership, limited liability company or other similar entity, but, in each case, only to the extent that a beneficial owner, a beneficiary or settlor with respect to such fiduciary or member or partner of such partnership, limited liability company or similar entity would not have been entitled to the payment of an additional amount had such beneficial owner, beneficiary, settlor, member or partner received directly its beneficial or distributive share of the Company payment; (vii) any Taxes required to be withheld by any paying agent from any payment on any Note, if such payment can be made without such withholding by at least one other paying agent; (viii) any Taxes imposed under Sections 1471 through 1474 of the Internal Revenue Code (or any amended or successor provision that is substantively comparable), any current or future regulations or official interpretation thereof, any agreement entered into pursuant to Section 1471(b) of the Internal Revenue Code or any Guarantorfiscal or regulatory legislation, rule or practice adopted pursuant to any intergovernmental agreement, treaty or convention entered into in connection with the implementation of the foregoing; (ix) any Taxes imposed under or in connection with the Dutch Withholding Tax Act 2021 (Wet bronbelasting 2021); or (mx) on account of any combination of items (i), (ii), (iii), (iv), (v), (vi), (vii), (viii) and (ix). (c) For purposes of this Section 2.14, the above. The Company acquisition, ownership, enforcement, or any Guarantor will also make such withholding holding of or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment receipt of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to a Note will not constitute a connection (x) between the Notes Holder or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, beneficial owner and the amount so payable United States or (y) between a fiduciary, settlor, beneficiary, member, partner or shareholder or other equity owner of, or a person having a power over, such Holder or beneficial owner if such Holder or beneficial owner is an estate, a trust, a limited liability company, a partnership, a corporation or other entity and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever United States. (d) Any reference in this Indenture there is mentioned, or in any context, (a) the payment of Notes to principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) or interest or other payment on the Notes shall be deemed to refer also to Additional Amounts that may be payable under the provisions of this Section 2.14. (de) Except as specifically provided under this Section 2.14, the Issuer will not be required to make any other amount payable on or payment with respect to any of the Notes tax, duty, assessment or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay other governmental charge imposed by any present or future stamp, court or documentary taxes government or any other excise political subdivision or property taxes, charges taxing authority of or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture Netherlands or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)Jurisdiction. The foregoing obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, indenture and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company a Payor is organized or any Guarantor is incorporated, engaged in business for tax purposes or otherwise considered to be a resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision or taxing authority or agency thereof or therein.

Appears in 2 contracts

Sources: Indenture (Organon & Co.), Indenture (Organon & Co.)

Additional Amounts. All After the occurrence of a Non-U.S. Domicile Transaction with respect to any Obligor or any successor in interest to an Obligor (each such Obligor or successor, a “non-U.S. Payor”), all payments made by or a non-U.S. Payor on behalf of the Company or any Guarantor under or with respect to the Notes or any guarantee of the Note Guarantees Notes will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other similar governmental charge (including without limitationcollectively, penalties, interest and any other liability with respect thereto) (“Taxes”), ) unless the Company such withholding or any Guarantor (or any Paying Agent) deduction is required to withhold or deduct Taxes by law or by the interpretation or of administration thereof by the relevant taxing authorityof law. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of of: (1) any jurisdiction in which (other than the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes United States or any political subdivision or governmental authority thereof or therein or any jurisdiction by having power to tax) from or through which payment on the Notes or any guarantee of the Notes is made by or on behalf of a non-U.S. Payor, or any political subdivision or governmental authority thereof or therein having the power to tax; or (each2) any jurisdiction (other than the United States or any political subdivision or governmental authority thereof or therein having the power to tax) in which a non-U.S. Payor that actually makes a payment on the Notes or its guarantee of the Notes is organized or otherwise considered to be a resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax (each of clauses (1) and (2), a “Relevant Taxing Jurisdiction”) ), will at any time be required from any payment payments made under or with respect to the Notes or any guarantee of the Note GuaranteesNotes, including payments of principal, redemption price, interest or premium, if any, the Company or any such Guarantor non-U.S. Payor will pay to each Holder of the Notes that are outstanding on the date of the required payment, (together with such payments) such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount amounts received in respect of such payments by such the Holder (including the Additional Amounts) after such withholding or deduction (including any such deduction or withholding from such Additional Amounts), will not be less than the amount such Holder amounts that would have been received if in respect of such Taxes had not been withheld payments on the Notes or deductedthe guarantees of the Notes in the absence of such withholding or deduction; provided, provided however, that no such Additional Amounts will be payable with respect to any Notefor or on account of: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) any Taxes that would not have been so imposed or levied but for the date on which such payment first became due and (2) if the full amount payable has not been received by existence of any present or on behalf of former connection between the relevant Holder (or the beneficial owner on between a fiduciary, settlor, beneficiary, partner, member or prior to such due dateshareholder of, or possessor of power over, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder orrelevant Holder, if different, the beneficial owner of the Note with a request addressed to such Holder is an estate, nominee, trust, partnership, limited liability company or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with corporation) and the Relevant Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Relevant Taxing Jurisdiction) but excluding, in each case, any connection arising solely from the acquisition, ownership or holding of such Notes or any guarantee of the Notes or the enforcement or receipt of any payment in respect thereof; (2) any Taxes that would not have been so imposed or levied if the Holder of the Note had complied with a reasonable request in writing of the non-U.S. Payor (such request being made at a time that would enable such Holder acting reasonably to comply with that request) to make a declaration of nonresidence or beneficial owner any other claim or filing or satisfy any certification, identification, information or reporting requirement for exemption from, or reduction in the rate of, withholding to which it is entitled (provided that such declaration of nonresidence or other claim, filing or requirement is required or imposed by a statutethe applicable law, treaty, regulation or official administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all from, or part reduction in the rate of deduction or withholding of, any such tax, assessment or governmental chargeTaxes); (c3) held any Taxes that are payable otherwise than by withholding from a payment on or with respect to the Notes or any guarantee of the Notes; (4) any estate, inheritance, gift, sales, excise, transfer, personal property or similar Taxes; (5) any Taxes imposed in connection with a Note presented for payment (where presentation is required for payment) by or on behalf of a Holder or beneficial owner who would have been able to avoid such Tax by presenting the relevant Note to, or otherwise accepting payment from, another Paying Agent; (6) any Taxes payable under Sections 1471 through 1474 of the Code as of the date of the Offering Memorandum (or any amended or successor version that is liable substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant thereto, and any intergovernmental agreements implementing the foregoing (including any legislation or other official guidance relating to such intergovernmental agreements); or (7) any combination of the above. Such Additional Amounts will also not be payable (x) if the payment could have been made without such deduction or withholding if the beneficiary of the payment had presented the Note for Taxes in respect payment (where presentation is required) within 30 days after the relevant payment was due and first made available for payment to the Holder (provided that notice of such Note by reason of having some connection with payment is given to the Relevant Taxing Jurisdiction other than Holders), except to the mere purchase, holding or disposition of any Note, or extent that the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in such Person would have been entitled to Additional Amounts on presenting the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in on any date during such 30-day period or (y) where, had the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of the Note been the Holder of the Note, such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any payment of Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account by reason of any Tax that is imposed pursuant of clauses (1) to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a 7) inclusive above. The non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); Payors will (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s make or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required cause to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is any required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and (ii) remit or cause to be remitted the full amount deducted or withheld to the relevant taxing authority of the Relevant Taxing Jurisdiction in accordance with applicable law. The Company non-U.S. Payor will furnish, within 60 days after the date use reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes is due pursuant to applicable law, so deducted or withheld from each relevant taxing authority of each Relevant Taxing Jurisdiction imposing such Taxes and will provide such certified copies to the TrusteeTrustee and the Holders. If, copies notwithstanding the efforts of tax receipts (such non-U.S. Payor to obtain such receipts, the extent received from same are not obtainable, such non-U.S. Payor will provide the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to and the Holders upon requestwith other reasonable evidence. At If any non-U.S. Payor will be obligated to pay Additional Amounts under or with respect to any payment made on the Notes, at least 30 days prior to each the date on which any payment under or with respect of such payment, the non-U.S. Payor will deliver to the Notes or Trustee an Officer’s Certificate stating the Note Guarantees is due fact that Additional Amounts will be payable and payable, if the Company or any Guarantor becomes obligated amount so payable and such other information necessary to enable the Paying Agent to pay Additional Amounts with respect to such Holders on the relevant payment date (unless such obligation to pay Additional Amounts arises after the 30th day less than 45 days prior to the date on which relevant payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter the non-U.S. Payor shall deliver such Officer’s Certificate and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts promptly as practicable after the date that is 30 days prior to the Holders payment date). The Trustee shall be entitled to rely solely on such Officer’s Certificate as conclusive proof that such payments are necessary. Wherever in this Indenture, the Notes or any guarantee of the Notes on the payment date. Whenever in this Indenture there is mentionedmention of, in any context, : (a1) the payment of principal principal; (and premium, if any), (b2) redemption prices or purchase prices in connection with a redemption or purchase of the Notes, ; (c3) interest or interest; or (d4) any other amount payable on or with respect to any of the Notes or any guarantee of the Note Guarantees, Notes; such mention is reference shall be deemed to include mention of the payment of Additional Amounts provided for in as described under this section Section 2.13 to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, non-U.S. Payors will pay any present or future stamp, court or documentary taxes Taxes, or any other excise or excise, property taxes, charges or similar levies Taxes that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Relevant Taxing Jurisdiction from the execution, delivery, issuance, initial issue resale, registration or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the this Indenture or any other document related or instrument in relation thereto (limited, in case other than a transfer of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveNotes). The foregoing obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company a non-U.S. Payor is organized or any Guarantor is incorporated, engaged in business for tax purposes or otherwise considered to be a resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision or taxing authority or agency thereof or therein.

Appears in 2 contracts

Sources: Indenture (Broadcom Inc.), Indenture (Broadcom Inc.)

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor Issuers under or with respect to the Notes or the Note Guarantees will shall be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge imposed or levied by or on behalf of the Government of Canada or of any province or territory thereof or by any authority or agency therein or thereof having power to tax (including without limitation, penalties, interest and any other liability with respect thereto) (“hereinafter "Taxes"), unless the Company or any Guarantor (or any Paying Agent) is Issuers are required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritythereof. If the Company or any Guarantor (or any Paying Agent) is Issuers are so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note GuaranteesNotes, the Company or any such Guarantor will Issuers shall pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts") as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such the Holder would have received if such Taxes had not been withheld or deducted, ; provided that no Additional Amounts will be payable with respect to any Note: a payment made to a Holder (aan "Excluded Holder") surrendered by (i) with which either Issuer does not deal at arm's length (within the Holder or meaning of the beneficial owner thereof for payment Income Tax Act (Canada)) at the time of principal more than 30 days after the later of (1) the date on which making such payment first became due and or (2ii) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior which is subject to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld Taxes by reason of the failure to comply its being connected with Canada or any province or territory thereof otherwise than by the Holder or, if different, the beneficial owner mere holding of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, Notes or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); . The Issuers shall also (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishIssuers shall furnish to the Holders of the Notes, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts evidencing such payment by the Issuers. The Issuers shall indemnify and hold harmless each Holder (other than an Excluded Holder) and upon written request reimburse each such Holder for the amount of (i) any Taxes so levied or imposed and paid by such Holder as a result of payments made under or with respect to the extent received from the relevant tax authorities in the usual course Notes, (ii) any liability (including penalties, interest and expenses) arising therefrom or as generally providedwith respect thereto, and (iii) evidencing that such payment has been made by the Company any present or future tax, duty, levy, impost, assessment or other governmental charge imposed or levied with respect to any Guarantor. The Trustee will make such evidence available to the Holders upon requestreimbursement under clause (i) or (ii) above. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes Issuers will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after payment, the 30th day prior Issuers shall deliver to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent Trustee an Officers' Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will shall set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase redemption price, Change of the NotesControl Payment, (c) Offered Price, interest or (d) any other amount payable on under or with respect to any of the Notes or the Note Guarantees, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as thereof pursuant to the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in provisions of this Section 4.17 and express mention of the United States, the Republic payment of France or Additional Amounts (if applicable) in any jurisdiction provisions hereof shall not be construed as excluding Additional Amounts in which a Paying Agent those provisions hereof where such express mention is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto not made (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveif applicable). The obligations of the Company or any Guarantor described in Issuers under this Section 4.21 will 4.17 shall survive any termination, defeasance or satisfaction and discharge the termination of this Indenture and the payment of all amounts under or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person with respect to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinNotes.

Appears in 2 contracts

Sources: Indenture (Consoltex Usa Inc), Indenture (Consoltex Inc/ Ca)

Additional Amounts. 2.6.1 All payments made by or on behalf account of any obligation of the Company or any Guarantor Issuer under or with respect to the TCPL Sub Notes or the Note Guarantees will - Series 2016-A shall be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) imposed or levied by or on behalf of the Government of Canada or any province or territory thereof or by any authority or agency therein or thereof having power to tax (hereinafter, Canadian Taxes”), unless or, in the Company event that a Successor Entity that is organized under the laws of a jurisdiction other than the laws of Canada or any Guarantor (province of territory thereof is substituted for the Issuer pursuant to Article 8 of the Original Indenture, by or on behalf of the government of such successor jurisdiction or any Paying Agent) is required to withhold or deduct Taxes by law subdivision thereof or by any authority or agency therein or thereof having power to tax. 2.6.2 For so long as the interpretation or administration thereof by Trust is the relevant taxing authority. If holder of TCPL Sub Notes — Series 2016-A, if the Company or any Guarantor (or any Paying Agent) Trust is so required to withhold or deduct any amount for or on account of Canadian Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Trust Notes or the Note Guarantees- Series 2016-A, the Company or any such Guarantor will Issuer shall pay to each Holder of the Notes that are outstanding on the date of the required payment, as additional interest such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the Trust may provide a net amount received by such Holder to each holder of Trust Notes — Series 2016-A (including the Additional Amounts) after such withholding or deduction will shall not be less than the amount such Holder holder of Trust Notes — Series 2016-A would have received if such Canadian Taxes had not been withheld or deducted; provided, provided however, that no Additional Amounts will shall be payable to the Trust with respect to any Note: a payment made to a holder of Trust Notes — Series 2016-A (aan “Excluded Holder”) surrendered by the Holder or the in respect of a beneficial owner thereof of Trust Notes Series 2016-A (i) with which the Trust does not deal at arm’s length (for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf purposes of the relevant Holder or Income Tax Act (Canada)) at the beneficial owner on or prior time of the making of such payment, (ii) which is subject to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld Canadian Taxes by reason of the failure of such holder of Trust Notes — Series 2016-A to comply by the Holder orwith any certification, if differentidentification, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents documentation or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which reporting requirement if compliance is required or imposed by a statutelaw, treatyregulation, regulation or administrative practice of the Relevant Taxing Jurisdiction or an applicable treaty as a precondition to exemption from from, or a reduction in, the rate of deduction or withholding of, such Canadian Taxes, (iii) where all or part any portion of the amount paid to such taxholder of Trust Notes — Series 2016-A is deemed to be a dividend paid to such holder of Trust Notes — Series 2016-A pursuant to subsection 214(16) of the Income Tax Act (Canada), assessment or governmental charge; (civ) held by or on behalf of a Holder or beneficial owner who which is liable for subject to such Canadian Taxes in respect of such Note by reason of having some connection its carrying on business in or being connected with the Relevant Taxing Jurisdiction other Canada or any province or territory thereof otherwise than by the mere purchase, holding or disposition of any Note, Trust Notes — Series 2016-A or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also Trust shall make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with as and when required under applicable law. The Company will furnish, within 60 days after . 2.6.3 If a holder of Trust Notes — Series 2016-A has received a refund or credit for any Canadian Taxes with respect to which the date the payment of any Taxes is due Issuer has paid Additional Amounts pursuant to applicable lawthis Section 2.6, and such holder has paid over such refund to the TrusteeTrust, copies of tax receipts the Trust shall pay over such refund to the Issuer (but only to the extent received from of such Additional Amounts), net of all out-of-pocket expenses of such holder, together with any interest paid by the relevant tax authorities authority in the usual course or as generally provided) evidencing that respect of such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay refund. 2.6.4 If Additional Amounts with respect are required to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)under this Section 2.6 as a result of a Tax Event, the Company will deliver Issuer may elect to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary redeem outstanding TCPL Sub Notes - Series 2016-A pursuant to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein3.3.

Appears in 2 contracts

Sources: Second Supplemental Indenture (TransCanada Trust), Second Supplemental Indenture (Transcanada Pipelines LTD)

Additional Amounts. All payments to be made by or on behalf of the Company under this Agreement, or any Guarantor under or with respect to the Notes or the Note Guarantees will as a result of entering into this Agreement, shall be made free and clear of and without withholding or deduction for or on account of any present or future taxtaxes, dutylevies, levyassessments, impostimposts, assessment duties or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), charges whatsoever unless the Company or any Guarantor (or any Paying Agent) is required by law to withhold or deduct Taxes by law such taxes, levies, assessments, imposts, duties or by the interpretation or administration thereof by the relevant taxing authoritycharges. If the Company compensation (including the Initial Purchasers’ commissions) is or any Guarantor other amounts to be received by the Initial Purchasers under this Agreement (including, without limitation, indemnification and contribution payments and reimbursable expenses), or as a result of entering into this Agreement, are subject to any Paying Agent) is so required to withhold present or deduct future taxes, levies, assessments, deductions, withholdings, imposts, duties or charges of any amount for or on account of Taxes nature, including interest, penalties and additions thereto, imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by from or through which payment is made (eachother than, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interestany Initial Purchaser, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment income or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed tax due solely as a result of such Initial Purchaser’s connection with or establishment in such jurisdiction, other than solely from such Initial Purchaser having executed, delivered or performed its obligations, received any amounts, or enforced its rights under this Agreement) (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of “Taxes”), then the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related will pay to the Company within Initial Purchasers an additional amount so that the meaning of section 864(d)(4) of Initial Purchasers retain, after taking into consideration all such Taxes, an amount equal to the Code, amounts owed to them as compensation or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, otherwise under this Agreement as if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings amounts had not been subject to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the aboveTaxes. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of If any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course are collected by deduction or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)withholding, the Company will deliver provide to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and Initial Purchasers copies of documentation evidencing the transmittal to the proper authorities of the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the Taxes deducted or withheld within 15 days after payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereofTaxes. The Company or a Guarantorfurther agrees to indemnify and hold harmless the Initial Purchasers against any documentary, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxessales, charges transaction or similar levies that arise in issue tax, including any interest and penalties, on the United Statescreation, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration and sale of the Notes or Securities, and on the execution, delivery, performance and enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinTransaction Documents.

Appears in 2 contracts

Sources: Purchase Agreement (B2gold Corp), Purchase Agreement

Additional Amounts. All payments made (a) The Company hereby agrees that any amounts to be paid by or on behalf of the Company or any Guarantor under or with respect to the Notes each Security shall be paid without deduction or the Note Guarantees will be made free withholding for any and clear of all present and without withholding or deduction for or on account of any present or future taxtaxes, dutylevies, levy, impost, assessment imposts or other governmental charge charges whatsoever imposed, assessed, levied or collected by or for the account of (including without limitationi)(x) the Republic of Panama or any political subdivision or taxing authority thereof or (y) the jurisdiction of incorporation (other than the United States or any political subdivision or taxing authority thereof) of a successor entity to the Company pursuant to Section 8.1, penaltiesto the extent that such taxes, interest and levies, imposts or other governmental charges first become applicable as a result of such successor entity becoming the obligor on the Securities, or (ii) any other liability with respect theretojurisdiction (other than the United States or any political subdivision or taxing authority thereof) from or through which any amount is paid by the Company hereunder or where it is resident or maintains a place of business or permanent establishment (each jurisdiction described in Clauses (i) and (ii) above is referred to herein as a “Taxing Jurisdiction” and such taxes, levies, imposts or other governmental charges are referred to as “Taxes”), unless the Company withholding or deduction of such Tax is compelled by laws of the Republic of Panama or any Guarantor other applicable Taxing Jurisdiction. If any deduction or withholding of any Taxes (other than Excluded Taxes, as defined below) is ever required by the Republic of Panama or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant other Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company shall (subject to compliance by the Holder or beneficial owner of each Security with any such Guarantor will applicable administrative requirements) pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that required to make the net amount received by amounts paid to each Holder of such Security or the Trustee pursuant to the terms of this Indenture or the Securities, after such deduction or withholding, equal to the amounts of principal, premium, if any, interest, if any, and sinking fund or analogous payments, if any, to which such Holder (including or the Additional Amounts) after such withholding or deduction will Trustee is entitled. However, the Company shall not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no required to pay Additional Amounts will be payable with in respect to any Note:of the following Taxes (“Excluded Taxes”): (a1) surrendered by any present or future Taxes imposed, assessed, levied or collected as a result of the Holder or the beneficial owner thereof of a Security (i) being organized under the laws of, or otherwise being or having been a domiciliary, national or resident of, (ii) being engaged or having been engaged in a trade or business in, (iii) having or having had its principal office located in, (iv) maintaining or having maintained a permanent establishment in, (v) being or having been physically present in, or (vi) otherwise having or having had some connection (other than the connection arising solely from holding or owning such Security, or collecting principal and interest, if any, on, or the enforcement of, such Security) with the Republic of Panama or any other applicable Taxing Jurisdiction; (2) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for payment of principal the fact that, where presentation is required, the relevant Security was presented more than 30 thirty days after the later date the relevant payment is first made available for payment to the Holder or beneficial owner; (3) any present or future Taxes imposed pursuant to current Section 1471 through 1474 of the Internal Revenue Code of 1986, as amended (1the “Code”) or any amended or successor version that is substantively comparable and not materially more onerous to comply with, any regulations promulgated thereunder, any official interpretations thereof, any intergovernmental agreement between a non-U.S. jurisdiction and the date on which such United States (or any related law or administrative practices or procedures) implementing the foregoing or any agreements entered into pursuant to current Section 1471(b)(1) of the Code (or any amended or successor version described above); (4) any present or future Taxes payable other than by deduction or withholding from payments under, or with respect to, any Security; (5) any present or future Taxes imposed in connection with a Security presented for payment first became due and (2where presentation is permitted or required for payment) if the full amount payable has not been received by or on behalf of the relevant a Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed Security to the extent such Holder Taxes could have been avoided by presenting the relevant Security to, or beneficial owner otherwise accepting payment from, another Paying Agent; (6) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for the failure to provide informationmake any certification, documents identification or other evidence report concerning the nationality, residence, identity or connection with the Relevant Republic of Panama or any other applicable Taxing Jurisdiction of such the Holder or beneficial owner which is required of such Security or imposed by claim for relief or exemption, if making such a statutecertification, treatyidentification, regulation other report or administrative practice claim is, under the laws, rules or regulations of the Relevant Taxing Jurisdiction as any such jurisdiction, a precondition condition to relief or exemption from all or part of such tax, assessment or governmental charge;Taxes; (c7) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment Tax or other governmental charge;duty; or (e8) any combination of Clauses (1) except in the case of the winding up of the Company or any Guarantorthrough (7) above; provided further, if that no such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are Additional Amounts shall be payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to Security held by (x) any Holder who or beneficial owner that is a fiduciary or partnership or other than not the sole beneficial owner of such payment Security, or that is a fiduciary, partnership, limited liability company or other fiscally transparent entity, but only to the extent that a beneficiary or settlor with respect to the fiduciary or a beneficial owner owner, partner or member of the partnership, limited liability company or other fiscally transparent entity, would not have been entitled to any such Additional Amounts had such beneficiary the beneficiary, settlor, beneficial owner, partner or settlor or beneficial owner member been the Holder; direct holder of such Security, (hy) on account of any Tax Holder that is imposed pursuant to sections 1471 through 1474 not a resident of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any the extent that, had such Holder been a resident of the foregoingUnited States and eligible (taking into account any applicable limitation on benefits article or similar provision) for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security, such Holder would not have been entitled to such Additional Amounts, or (z) any agreements entered into pursuant to section 1471(b)(1) Holder that is a resident of the Code United States but that is not eligible for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security (but only to the extent the amount of such deduction or withholding exceeds that which would have been required had such Holder of a Security been so eligible and made all relevant claims). The Company or any such Taxsuccessor to the Company, “FATCA Withholding”); as the case may be, agrees to indemnify and hold harmless each Holder of a Security and upon written request reimburse each Holder for the amount of (i) on account any Taxes levied or imposed and paid by such Holder of any U.S. federal withholding Taxes imposed a Security (other than Excluded Taxes) as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled payments made with respect to votesuch Security, (2ii) such Holder’s any liability (including penalties, interest and expenses) arising therefrom with respect thereto, and (iii) any Taxes (other than Excluded Taxes) with respect to payment of Additional Amounts or beneficial owner’s being a bank receiving such interest any reimbursement pursuant to a loan agreement entered into this sentence, in each case, to the ordinary course extent not otherwise reimbursed by the payment of its trade or business any Additional Amount and not excluded from the requirement to pay Additional Amounts, as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will successor to the Company, as the case may be, shall also (i) make such withholding or deduction to the extent required by applicable law and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishor any successor to the Company, as the case may be, shall furnish the Trustee within 60 30 days after the date the payment of any such Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts (to evidencing the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available successor to the Holders upon requestCompany, as the case may be, or other evidence of such payment reasonably satisfactory to the Trustee. It is understood, however, that the Trustee is under no obligation to request such certified copies of tax receipts evidencing the payment. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees Securities is due and payable, if the Company or any Guarantor becomes will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)those payments, the Company will shall deliver to each Paying Agent the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and stating the amount so amounts that will be payable and will set setting forth such any other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes Securities on the payment date. Whenever in this Indenture or any Security there is mentioned, in any context, (a) the payment of principal (and the principal, premium, if any), (b) purchase prices or interest, or sinking fund or analogous payment, if any, in connection with a purchase respect of the Notes, (c) such Security or overdue principal or overdue interest or (d) any other amount payable on overdue sinking fund or with respect to any of the Notes or the Note Guaranteesanalogous payment, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section herein to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as thereof pursuant to the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic provisions of France or this Section and express mention thereof in any jurisdiction provisions hereof shall not be construed as excluding Additional Amounts in which a Paying Agent those provisions hereof where such express mention is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto not made (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveif applicable). The obligations of the Company or (and any Guarantor described in successor entity to the Company pursuant to Section 8.1) under this Section 4.21 will 10.5 shall survive any termination, defeasance or satisfaction and discharge the termination of this Indenture and the payment of all amounts under or with respect to the Securities. (b) Each Holder of a Security, by acceptance of such Security, agrees that, with reasonable promptness after receiving written notice from the Company to the effect that such H▇▇▇▇▇ is eligible for a refund in respect of Taxes actually paid by the Company pursuant to this Section 10.5, such Holder will sign and deliver, as reasonably directed by the Company, any transfer form provided to such Holder by the Company to enable such Holder to obtain a holder or beneficial owner refund in respect of its notessuch Taxes; and if such Holder thereafter receives such refund in respect of such Taxes, and such Holder will apply, mutatis mutandis, to any jurisdiction in which any successor Person promptly pay such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority). If a Holder applies for a refund of such Taxes prior to a request by the Company to apply for such a refund, the Holder will, upon receipt of a request by the Company to apply for, or to turn over the proceeds of, any Guarantor is incorporatedsuch refund, engaged pay any such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority), promptly upon receipt of such refund. The Company shall pay all reasonable out-of-pocket expenses incurred by a Holder in business for tax purposes or resident for tax purposes or any jurisdiction from or through which connection with obtaining such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinrefund.

Appears in 1 contract

Sources: Indenture (Carnival PLC)

Additional Amounts. All After the occurrence of a Non-U.S. Domicile Transaction with respect to the Issuer or any successor in interest to the Issuer, all payments made by or the successor Person resulting from the Non-U.S. Domicile Transaction (each such successor Person resulting from a Non-U.S. Domicile Transaction, a “non-U.S. Payor”) on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other similar governmental charge (including without limitationcollectively, penalties, interest and any other liability with respect thereto) (“Taxes”), ) unless the Company such withholding or any Guarantor (or any Paying Agent) deduction is required to withhold or deduct Taxes by law or by the interpretation or of administration thereof by the relevant taxing authorityof law. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of of: (1) any jurisdiction in which (other than the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes United States or any political subdivision or governmental authority thereof or therein or any jurisdiction by having power to tax) from or through which payment on the Notes is made by or on behalf of a non-U.S. Payor, or any political subdivision or governmental authority thereof or therein having the power to tax; or (each2) any jurisdiction (other than the United States or any political subdivision or governmental authority thereof or therein having the power to tax) in which a non-U.S. Payor that makes a payment on the Notes is organized or otherwise considered to be a resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax (each of clauses (1) and (2), a “Relevant Taxing Jurisdiction”) ), will at any time be required from any payment payments made under or with respect to the Notes Notes, including payments of principal, redemption price, interest or the Note Guaranteespremium, if any, the Company or any such Guarantor non-U.S. Payor will pay to each Holder of the Notes that are outstanding on the date of the required payment, (together with such payments) such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount amounts received in respect of such payments by such the Holder (including the Additional Amounts) after such withholding or deduction (including any such deduction or withholding from such Additional Amounts), will not be less than the amount such Holder amounts that would have been received if in respect of such Taxes had not been withheld payments on the Notes in the absence of such withholding or deducteddeduction; provided, provided however, that no such Additional Amounts will be payable with respect to any Notefor or on account of: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) any Taxes that would not have been so imposed or levied but for the date on which such payment first became due and (2) if the full amount payable has not been received by existence of any present or on behalf of former connection between the relevant Holder (or the beneficial owner on between a fiduciary, settlor, beneficiary, partner, member or prior to such due dateshareholder of, or possessor of power over, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder orrelevant Holder, if different, the beneficial owner of the Note with a request addressed to such Holder is an estate, nominee, trust, partnership, limited liability company or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with corporation) and the Relevant Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Relevant Taxing Jurisdiction) but excluding, in each case, any connection arising solely from the acquisition, ownership or holding of such Notes or the enforcement or receipt of any payment in respect thereof; (2) any Taxes that would not have been so imposed or levied if the Holder of the Note had complied with a reasonable request in writing of the non-U.S. Payor (such request being made at a time that would enable such Holder acting reasonably to comply with that request) to make a declaration of nonresidence or beneficial owner any other claim or filing or satisfy any certification, identification, information or reporting requirement for exemption from, or reduction in the rate of, withholding to which it is entitled (provided that such declaration of nonresidence or other claim, filing or requirement is required or imposed by a statutethe applicable law, treaty, regulation or official administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all from, or part reduction in the rate of deduction or withholding of, any such tax, assessment or governmental chargeTaxes); (c3) held any Taxes that are payable otherwise than by withholding from a payment on or with respect to the Notes; (4) any estate, inheritance, gift, sales, excise, transfer, personal property or similar Taxes; (5) any Taxes imposed in connection with a Note presented for payment (where presentation is required for payment) by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of would have been able to avoid such Tax by presenting the relevant Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Noteto, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guaranteeotherwise accepting payment from, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment thereinanother Paying Agent; (d6) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections under Sections 1471 through 1474 of the U.S. Internal Revenue Code as of 1986, as amended, the date of the Offering Memorandum (the “Code”or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or other official guidance thereunderinterpretations thereof, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant thereto, and any intergovernmental agreements implementing the foregoing (including any legislation or other official guidance relating to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”intergovernmental agreements); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m7) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 1 contract

Sources: Indenture

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (hereinafter “Taxes”), ) unless the Company withholding or any Guarantor (or any Paying Agent) deduction of such Taxes is then required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of the government of the Republic of ▇▇▇▇▇▇▇▇ Islands or any political subdivision or any authority or agency therein or thereof having power to tax, or any other jurisdiction in which the Company or any Guarantor (including any successor entitiesentity) is then organized or is otherwise resident for Tax purposes or any political subdivision thereof or therein tax purposes, or any jurisdiction by from or through which payment is made (eachincluding, without limitation, the jurisdiction of each paying agent) (each a “Relevant Taxing Specified Tax Jurisdiction”) ), will at any time be required to be made from any payment payments made under or with respect to the Notes or the Note Guarantees, Notes. the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received in respect of such payments by such a Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted; provided, provided however, that no the foregoing obligation to pay Additional Amounts will be payable with respect to any Notedoes not apply to: (a1) surrendered by any Taxes that would not have been so imposed but for the Holder or the beneficial owner thereof of the Notes having any present or former connection with the Specified Tax Jurisdiction (other than the mere acquisition, ownership, holding, enforcement or receipt of payment in respect of the Notes); (2) any estate, inheritance, gift, sales, excise, transfer, personal property tax or similar tax, assessment or governmental charge; (3) any Taxes payable other than by deduction or withholding from payments under, or with respect to, the Notes; (4) any Taxes imposed as a result of the failure of the Holder or beneficial owner of the Notes to complete, execute and deliver to the Company any form or document to the extent applicable to such Holder or beneficial owner that may be required by law or by reason of administration of such law and which is reasonably requested in writing to be delivered to the Company in order to enable the Company to make payments on the Notes without deduction or withholding for Taxes, or with deduction or withholding of a lesser amount, which form or document will be delivered within 60 days of a written request therefor by the Company; (5) any Taxes that would not have been so imposed but for the beneficiary of the payment having presented a Note for payment of principal (in cases in which presentation is required) more than 30 days after the later of (1) the date on which such payment first or such Note became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on whichwhich payment thereof is duly provided for, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, whichever is later (except to the extent that the Holder would have been entitled to such Additional Amounts had the Note been presented on surrendering the last day of such Note for payment on any day during the applicable 30-day period); (b6) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction imposed on or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any the Holder who if such Holder is a fiduciary or partnership or Person other than the sole beneficial owner of such payment payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such partnership or the beneficial owner of such payment would not have been entitled to any Additional Amounts had such beneficiary or settlor beneficiary, settlor, member or beneficial owner been the Holderactual Holder of such Note; (h7) on account of any Tax Taxes that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is are required to be made by reason of that deducted or withheld on a payment being (x) paid pursuant to a bank account opened in a financial institution established inEuropean Council Directive 2003/48/EC or any law implementing, or (y) paid or accrued introduced in order to a person established or domiciled inconform to, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantordirective; or (m) on account of 8) any combination of the items (1) through (7) above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts . (to the extent received from the relevant tax authorities in the usual course or as generally providedb) evidencing that such payment has been made by If the Company or any Guarantor. The Trustee becomes aware that it will make such evidence available be obligated to the Holders upon request. At least 30 days prior pay Additional Amounts with respect to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payableNotes, if the Company or any Guarantor becomes obligated will deliver to pay Additional Amounts with respect the Trustee and Paying Agent at least 30 days prior to such the date of that payment (unless such the obligation to pay Additional Amounts arises after the 30th day prior to the date on which that payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each notify the Trustee and Paying Agent promptly thereafter but in no event later than two Business Days prior to the date of payment) an Officers’ Officer’s Certificate stating the fact that such Additional Amounts will be payable, payable and the amount so payable and will payable. The Officer’s Certificate shall also set forth such any other information as necessary to enable such the Paying Agent to pay such Additional Amounts to Holders on the relevant payment date. The Trustee and Paying Agent will be entitled to rely solely on such Officer’s Certificate as conclusive proof that such payments are necessary. The Company will provide the Trustee and Paying Agent with documentation evidencing the payment of Additional Amounts. (c) The Company will make all withholdings and deductions required by law and will remit the full amount deducted or withheld to the relevant governmental authority on a timely basis in accordance with applicable law. As soon as practicable, the Company will provide the Trustee and Paying Agent with an official receipt or, if official receipts are not obtainable, other documentation evidencing the payment of the Taxes so withheld or deducted. Upon request, copies of those receipts or other documentation, as the case may be, will be made available by the Trustee and Paying Agent to the Holders of the Notes on the payment date. Notes. (d) Whenever in the Indenture or this First Supplemental Indenture there is mentionedreferenced, in any context, (a) the payment of amounts based upon the principal (and premium, if any), (b) purchase prices in connection with a purchase amount of the NotesNotes or of principal, (c) interest or (d) any other amount payable on under, or with respect to any of to, the Notes or the Note GuaranteesNotes, such mention is reference will be deemed to include mention of the payment of Additional Amounts provided for in as described under this section heading to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. . (e) The Company will indemnify a Holder, within 10 Business Days after written demand therefor, for the full amount of any Taxes paid by such Holder to a governmental authority of a Specified Tax Jurisdiction, on or with respect to any payment by on or account of any obligation of the Company to withhold or deduct an amount on account of Taxes for which the Company would have been obliged to pay Additional Amounts hereunder and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant governmental authority. A certificate as to the amount of such payment or liability delivered to the Company by a Guarantor, as the case may be, Holder will be conclusive absent manifest error. (f) The Company will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Specified Tax Jurisdiction from the initial issue execution, delivery, enforcement or registration of the Notes Notes, the Indenture or on any other document or instrument in relation thereof, or the enforcement receipt of any payments with respect to the Notes, any Note Guarantee, and the Indenture or any other document related thereto (limited, in case of Taxes attributable to Company will indemnify the receipt of payments thereto, to Holders for any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer taxes paid by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinHolders.

Appears in 1 contract

Sources: First Supplemental Indenture (Seaspan CORP)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees any Guarantee will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (charge, including without limitationany related interest, penalties, interest and any other liability with respect thereto) penalties or additions to tax (“Taxes”), ) unless the Company withholding or any Guarantor (or any Paying Agent) deduction of such Taxes is then required to withhold or deduct Taxes by law or by the official interpretation or administration thereof by the relevant taxing authoritythereof. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of (1) any jurisdiction under the laws of which the Issuer or any Guarantor is then incorporated or organized or in which the Company Issuer or any Guarantor is engaged in business for tax purposes or resident for tax purposes or any political subdivision or governmental authority thereof or therein having power to tax or (2) any jurisdiction from or through which payment is made by or on behalf of the Issuer or any Guarantor (including including, without limitation, the jurisdiction of any successor entitiespaying agent for the Notes) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Tax Jurisdiction”) will at any time be required to be made from any payment payments made under or with respect to the Notes or any Guarantee, including, without limitation, payments of principal, CG&R Draft Current date: 06-20-2019 11:20 AM 51390170v5 redemption price, interest or premium, then the Note GuaranteesIssuer or the relevant Guarantor, the Company or any such Guarantor as applicable, will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount amounts received with respect to such payments by such Holder (including the Additional Amounts) each holder of Notes after such withholding or deduction (including any such withholding or deduction from such Additional Amounts) will not be less than equal the amount such Holder respective amounts that would have been received if with respect to such Taxes had not been withheld payments in the absence of such withholding or deducteddeduction; provided, provided however, that no Additional Amounts will be payable with respect to any Noteto: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due dateany Taxes, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder such Taxes would not have been entitled to such Additional Amounts on surrendering such Note imposed but for payment on the existence of any day during actual or deemed present or former connection between the applicable 30-day period; holder (b) if any Taxor between a fiduciary, assessment settlor, beneficiary, member or other governmental charge is imposed shareholder of, or withheld by reason possessor of a power over the failure to comply by the Holder orrelevant holder, if differentthe relevant holder is an estate, the beneficial owner of the Note with a request addressed to such Holder nominee, trust, partnership, limited liability company or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (ccorporation) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt Beneficial Owner of payments made by or on behalf of Notes and the Company or any Guarantor in respect thereof or any Note Guarantee, relevant Tax Jurisdiction (including, without limitation, such Holder or beneficial owner being or having been a citizen citizen, resident or resident national thereof or being or having been present or engaged in a trade or business therein or having or having had a permanent establishment therein), other than connections arising from the acquisition or holding of such Note or a Guarantee, the exercise or enforcement of rights under such Note or under a Guarantee or the receipt of any payments with respect to such Note or a Guarantee; (d2) any Taxes, to the extent such Taxes were imposed as a result of the presentation of a Note for payment (where Notes are in the form of certificated Notes and presentation is required) more than 30 days after the relevant payment is first made available for payment to the holder (except to the extent that the holder would have been entitled to Additional Amounts had the Note been presented on account the last day of such 30 day period); (3) any estate, inheritance, gift, salesales, transfer, personal property or other similar Tax, assessment or other governmental chargeTaxes imposed on transfers; (e4) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise other than by deduction or withholding from a payment payments under, or with respect to to, the Notes or Note Guarantees; (g) with respect to any payment made Guarantee; (5) any Taxes to the extent such Taxes are imposed or withheld by or on behalf reason of the Company failure of the holder or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of Notes to comply with any reasonable written request of the Issuer addressed to the holder or beneficial owner and made at least sixty (60) days before any such payment withholding or deduction would be payable to satisfy any certification, identification, information or other reporting requirements, whether required by statute, treaty, regulation or administrative practice of the relevant Tax Jurisdiction, as a precondition to exemption from or reduction in the rate of deduction or withholding of, Taxes imposed by such Tax Jurisdiction (including, without limitation, a certification that the holder or beneficial owner is not resident in the Tax Jurisdiction), but in each case, only to the extent that a beneficiary or settlor the holder or beneficial owner would not have been entitled is legally eligible to any Additional Amounts had provide such beneficiary certification or settlor or beneficial owner been the Holderdocumentation; (h6) on account of any Tax Taxes that is are imposed or withheld pursuant to sections Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986Code, as amended, of the Issue Date (the “Code”or any amended or successor version of such sections), any regulations or other official guidance promulgated thereunder, any intergovernmental agreement entered into in connection therewithofficial interpretations thereof, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, foregoing or any agreements entered into pursuant to section Section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”);Code; or (i7) on account any combination of any U.S. federal withholding Taxes imposed as a result of items (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to votethrough (6) above. CG&R Draft Current date: 06-20-2019 11:20 AM 51390170v5 Such Additional Amounts will also not be payable where, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or had the beneficial owner of the applicable Note concurrently being a shareholder been the holder of such Note, it would not have been entitled to payment of Additional Amounts by reason of any of clauses (1) to (7) inclusive above. (b) In addition to the foregoing, the Issuer and the Guarantors, as the case may be, will also pay and indemnify the holder for any present or future stamp, issue, registration, court or documentary Taxes, or any other excise or property Taxes, charges or similar levies (including penalties, interest and any other reasonable expenses related thereto) which are levied by any Tax Jurisdiction on the execution, delivery, issuance, sale, enforcement or registration of the Company Notes, this Indenture, any Guarantee or any other document or instrument referred to therein, or the receipt of any Guarantor; orpayments with respect thereto, (limited, solely in the case of taxes attributable to the receipt of any payments with respect thereto, to any such taxes imposed in a Tax Jurisdiction that are not excluded under clauses (1) through (3) or (5) through (6) above or any combination thereof). (mc) on account If the Issuer or any Guarantor, as the case may be, becomes aware that it will be obligated to pay Additional Amounts with respect to any payment under or with respect to any series of Notes or any combination related Guarantee, each of the aboveIssuer or the relevant Guarantor, as the case may be, will deliver to the Trustee on a date that is at least 30 days prior to the date of that payment (unless the obligation to pay Additional Amounts arises less than 30 days prior to that payment date, in which case the Issuer or the relevant Guarantor shall notify the Trustee promptly thereafter) an Officer’s Certificate stating the fact that Additional Amounts will be payable and the amount estimated to be so payable. The Company Officer’s Certificate must also set forth any other information reasonably necessary to enable the Paying Agent to pay such Additional Amounts to holders on the relevant payment date. The Trustee shall be entitled to rely solely on such Officer’s Certificate as conclusive proof that such payments are necessary. (d) The Issuer or any the relevant Guarantor will also make such withholding or deduction all withholdings and deductions required by Applicable Law and will remit the full amount deducted or withheld to the relevant Tax authority in accordance with applicable lawApplicable Law. The Company Issuer or the relevant Guarantor will furnishuse its reasonable efforts to obtain Tax receipts from each Tax authority evidencing the payment of any Taxes so deducted or withheld. The Issuer or the relevant Guarantor will furnish to the Trustee (or to a holder or beneficial owner upon written request), within 60 days a reasonable time after the date the payment of any Taxes so deducted or withheld is due pursuant made, certified copies of Tax receipts evidencing payment by the Issuer or a Guarantor, as the case may be, or if, notwithstanding such entity’s efforts to applicable lawobtain receipts, receipts are not obtained, other evidence of payments (reasonably satisfactory to the Trustee) by such entity. Upon reasonable request, copies of tax Tax receipts (or other evidence of payments, as the case may be, will be made available by the Trustee to the extent received from the relevant tax authorities in the usual course holders or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders beneficial owners of the Notes on the payment date. Notes. (e) Whenever in this Indenture there is mentioned, in any context, (a) the payment of amounts based upon the principal (and premium, if any), (b) purchase prices in connection with a purchase amount of the NotesNotes or of principal, (c) interest or (d) of any other amount payable on under, or with respect to to, any of the Notes or the Note Guaranteesany Guarantee, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. . (f) The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The above obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or Indenture, and any transfer by a holder or beneficial owner of its notesNotes, and will apply, mutatis mutandis, to any jurisdiction under the laws of which any successor Person to the Issuer or any Guarantor is incorporated or organized or in which any successor Person to the Company Issuer or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes (and any political subdivision or governmental authority thereof or CG&R Draft Current date: 06-20-2019 11:20 AM 51390170v5 therein having power to tax) and any jurisdiction from or through which payment is made by or on behalf of such Person makes any payment on the Notes or any Guarantee and any department or any political subdivision thereof or therein.

Appears in 1 contract

Sources: Indenture (International Game Technology PLC)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees any Guarantee will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (charge, including without limitationany related interest, penalties, interest and any other liability with respect thereto) penalties or additions to tax (“Taxes”), ) unless the Company withholding or any Guarantor (or any Paying Agent) deduction of such Taxes is then required to withhold or deduct Taxes by law or by the official interpretation or administration thereof by the relevant taxing authoritythereof. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of (1) any jurisdiction in which the Company Issuer or any Guarantor is then incorporated or organized, engaged in business for tax purposes or resident for tax purposes or any political subdivision or governmental authority thereof or therein having power to tax or (2) any jurisdiction from or through which payment is made by or on behalf of the Issuer or any Guarantor (including including, without limitation, the jurisdiction of any successor entitiespaying agent for the Notes) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Tax Jurisdiction”) will at any time be required to be made from any payment payments made under or with respect to the Notes or any Guarantee, including, without limitation, payments of principal, redemption price, interest or premium, then the Note GuaranteesIssuer or the relevant Guarantor, the Company or any such Guarantor as applicable, will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount amounts received in respect of such payments by such each Holder (including the Additional Amounts) after such withholding or deduction (including any such withholding or deduction from such Additional Amounts) will not be less than equal the amount such Holder respective amounts that would have been received if in respect of such Taxes had not been withheld payments in the absence of such withholding or deducteddeduction; provided, provided however, that no Additional Amounts will be payable with respect to any Noteto: (a1) surrendered by any Taxes, to the extent such Taxes would not have been imposed but for the existence of any actual or deemed present or former connection between the Holder (or between a fiduciary, settler, beneficiary, member or shareholder of, or possessor of a power over the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) relevant Holder, if the full amount payable has not been received by or on behalf of the relevant Holder is an estate, nominee, trust, partnership, limited liability company or the beneficial owner on corporation) or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning Notes and the nationality, residence, identity or connection with the Relevant Taxing relevant Tax Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen citizen, resident or resident national thereof or being or having been present or engaged in a trade or business therein or having or having had a permanent establishment therein), other than connections arising from the acquisition or holding of such Note or any Guarantee, the exercise or enforcement of rights under such Note or under a Guarantee or the receipt of any payments in respect of such Note or a Guarantee; (d2) any Taxes, to the extent such Taxes were imposed as a result of the presentation of a Note for payment (where Notes are in the form of certificated Notes and presentation is required) more than thirty (30) days after the relevant payment is first made available for payment to the Holder (except to the extent that the Holder would have been entitled to Additional Amounts had the Note been presented on account the last day of such 30 day period); (3) any estate, inheritance, gift, salesales, transfer, personal property or other similar Tax, assessment or other governmental chargeTaxes imposed on transfers; (e4) except in any Taxes withheld, deducted or imposed on a payment that is required to be made pursuant to European Council Directive 2003/48/EC or any other Directive implementing the case conclusions of the winding up ECOFIN Council meeting of November 26 and 27, 2000 on the Company taxation of savings income, or any Guarantorlaw implementing or complying with, if or introduced in order to conform to, such Note is surrendered for payment in the Republic of FranceDirective; (f5) Taxes imposed on account or with respect to a payment made to a Holder or beneficial owner of Notes who would have been able to avoid such withholding or deduction by presenting the relevant Note to another paying agent in a member state of the European Union; (6) any Taxes that are payable otherwise other than by deduction or withholding from a payment payments under, or with respect to to, the Notes or Note Guarantees; (g) with respect to any payment made Guarantee; (7) any Taxes to the extent such Taxes are imposed or withheld by or on behalf reason of the Company failure of the Holder or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of Notes to comply with any reasonable written request of the Issuer addressed to the Holder or beneficial owner and made at least sixty (60) days before any such payment withholding or deduction would be payable to satisfy any certification, identification, information or other reporting requirements, whether required by statute, treaty, regulation or administrative practice of the relevant Tax Jurisdiction, as a precondition to exemption from, or reduction in the rate of deduction or withholding of, Taxes imposed by such Tax Jurisdiction (including, without limitation, a certification that the Holder or beneficial owner is not resident in the Tax Jurisdiction), but in each case, only to the extent that a beneficiary or settlor the Holder or beneficial owner would not have been entitled is legally eligible to any Additional Amounts had provide such beneficiary certification or settlor or beneficial owner been the Holderdocumentation; (h) on account of 8) any Tax Taxes that is are imposed or withheld pursuant to sections Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986Code, as amended, of the Temporary Notes Issue Date (the “Code”or any amended or successor version of such sections), any regulations or other official guidance promulgated thereunder, any intergovernmental agreement entered into in connection therewithofficial interpretations thereof, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-non U.S. jurisdiction and the United States with respect to any of the foregoing, foregoing or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”);Code; or (i9) on account any combination of any U.S. federal withholding Taxes imposed as a result of items (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to votethrough (8) above. Such Additional Amounts will also not be payable where, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or had the beneficial owner of the applicable Note concurrently being a shareholder been the Holder of such Note, it would not have been entitled to payment of Additional Amounts by reason of any of clauses (1) to (9) inclusive above. (b) In addition to the foregoing, the Issuer and the Guarantors, as the case may be, will also pay and indemnify the Holder for any present or future stamp, issue, registration, court or documentary Taxes, or any other excise or property Taxes, charges or similar levies (including penalties, interest and any other reasonable expenses related thereto) which are levied by any Tax Jurisdiction on the execution, delivery, issuance, enforcement or registration of any of the Company Notes, this Indenture, any Guarantee or any other document or instrument referred to therein, or the receipt of any Guarantor; orpayments with respect thereto, (limited, solely in the case of taxes attributable to the receipt of any payments with respect thereto, to any such taxes imposed in a Tax Jurisdiction that are not excluded under clauses (1) through (5) or (7) through (8) above, or any combination thereof). (mc) on account If the Issuer or any Guarantor, as the case may be, becomes aware that it will be obligated to pay Additional Amounts with respect to any payment under or with respect to any series of Notes or any combination related Guarantee, each of the aboveIssuer or the relevant Guarantor, as the case may be, will deliver to the Trustee on a date that is at least thirty (30) days prior to the date of that payment (unless the obligation to pay Additional Amounts arises less than thirty (30) days prior to that payment date, in which case the Issuer or the relevant Guarantor shall notify the Trustee promptly thereafter) an Officer’s Certificate stating the fact that Additional Amounts will be payable and the amount estimated to be so payable. The Company Officer’s Certificate must also set forth any other information reasonably necessary to enable the Paying Agents to pay such Additional Amounts to Holders on the relevant payment date. The Trustee shall be entitled to rely solely on such Officer’s Certificate as conclusive proof that such payments are necessary. (d) The Issuer or any the relevant Guarantor will also make such withholding or deduction all withholdings and deductions required by law and will remit the full amount deducted or withheld to the relevant Tax authority in accordance with applicable lawApplicable Law. The Company Issuer or the relevant Guarantor will furnishuse its reasonable efforts to obtain Tax receipts from each Tax authority evidencing the payment of any Taxes so deducted or withheld. The Issuer or the relevant Guarantor will furnish to the Trustee (or to a Holder or beneficial owner upon written request), within 60 days a reasonable time after the date the payment of any Taxes so deducted or withheld is due pursuant made, certified copies of Tax receipts evidencing payment by the Issuer or a Guarantor, as the case may be, or if, notwithstanding such entity’s efforts to applicable lawobtain receipts, receipts are not obtained, other evidence of payments (reasonably satisfactory to the Trustee) by such entity. Upon reasonable request, copies of tax Tax receipts (to or other evidence of payments, as the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been case may be, will be made available by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders beneficial owners of the Notes on of the payment date. applicable series. (e) Whenever in this Indenture there is mentioned, in any context, (a) the payment of amounts based upon the principal (and premium, if any), (b) purchase prices in connection with a purchase amount of the NotesNotes or of principal, (c) interest or (d) of any other amount payable on under, or with respect to to, any of the Notes or the Note Guaranteesany Guarantee, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. . (f) The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The above obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or Indenture, and any transfer by a holder Holder or beneficial owner of its notesNotes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company Issuer or any Guarantor is incorporatedincorporated or organized, engaged in business for tax purposes or resident for tax purposes (and any political subdivision or governmental authority thereof or therein having power to tax) and any jurisdiction from or through which payment is made by or on behalf of such Person makes any payment on the Notes or any Guarantee and any department or any political subdivision thereof or therein.

Appears in 1 contract

Sources: Indenture (International Game Technology)

Additional Amounts. All payments made by If, as a result of any change in or on behalf amendment to the laws (or any regulations or rulings promulgated thereunder) of the Company United States or of any Guarantor under political subdivision or with respect to taxing authority thereof or therein affecting tax after the Notes settlement date, NT III or the Guarantor would be required to deduct or withhold from any payment on a Note Guarantees will be made free and clear of and without withholding or deduction amounts for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or imposed by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes United States or any political subdivision or taxing authority thereof or therein therein, NT III or any jurisdiction by or through which payment is made (eachthe Guarantor, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect as the case maybe, will, subject to the Notes or the Note Guaranteeslimitations and exceptions set out below, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required paymenta Holder, who is a United States Alien, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that every net payment of interest with respect to such Note after deduction or withholding for or on account of any such tax, assessment or other governmental charge imposed upon such Holder, or by reason of the net amount received making of such payment, by such Holder (including the Additional Amounts) after such withholding United States or deduction any political subdivision or taxing authority thereof or therein, will not be less than the amount provided for in such Holder would have received if such Taxes had not been withheld or deductedNote. For greater certainty, provided that no Additional Amounts will Amount shall be payable by the Issuer or the Guarantor in respect of taxes imposed by any jurisdiction other than the United States or any political subdivision or tax authority thereof or therein affecting tax. However, NT III or the Guarantor, in the case of payments under the Guarantee, will not be required to make any payment of Additional Amounts to any such holder for or on account of: Guarantor, as the case maybe, will, subject to the limitations and exceptions set out below, pay to a Holder, who is a United States Alien, such additional amounts (the “Additional Amounts”) as may be necessary so that every net payment of interest with respect to any Note: (a) surrendered by the Holder such Note after deduction or the beneficial owner thereof withholding for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf account of the relevant Holder or the beneficial owner on or prior to any such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Taxtax, assessment or other governmental charge is imposed upon such Holder, or withheld by reason of the failure to comply making of such payment, by the Holder orUnited States or any political subdivision or taxing authority thereof or therein, if differentwill not be less than the amount provided for in such Note. For greater certainty, no Additional Amount shall be payable by the beneficial owner Issuer or the Guarantor in respect of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or taxes imposed by a statuteany jurisdiction other than the United States or any political subdivision or tax authority thereof or therein affecting tax. However, treatyNT III or the Guarantor, regulation in the case of payments under the Guarantee, will not be required to make any payment of Additional Amounts to any such holder for or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of on account of: ● any such tax, assessment or other governmental charge; charge which would not have been so imposed but for the existence of any present or former connection between such holder (c) held by or on behalf of between a Holder fiduciary, settlor, beneficiary, member or beneficial owner who is liable for Taxes in respect shareholder of such Note by reason of having some connection with holder, if such holder is an estate, a trust, a partnership or a corporation) and the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note GuaranteeUnited States, including, without limitation, such Holder holder (or beneficial owner such fiduciary, settlor, beneficiary, member or shareholder) being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or present therein, or having had a permanent establishment therein; (d) on account of ; ● any estate, inheritance, gift, salesales, transfer, transfer or personal property tax or any similar tax, assessment or governmental charge; ● any tax, assessment or other similar Taxgovernmental charge imposed by reason of such holder’s past or present status, such as a personal holding company or foreign personal holding company or controlled foreign corporation or passive foreign investment company with respect to the United States or as a corporation which accumulates earnings to avoid United States federal income tax or as a private foundation or other tax-exempt organization; ● any tax, assessment or other governmental charge which is payable otherwise than by withholding from payments on or in respect of any Note; ● any tax, assessment or other governmental charge which would not have been imposed but for the failure to comply with certification, information or other reporting requirements concerning the nationality, residence or identity of the holder or beneficial owner of such Note if such compliance is required by statute or by regulation of the United States or of any political subdivision or taxing authority thereof or therein as a precondition to relief or exemption from such tax, assessment or other governmental charge; (e) except in ; ● any tax, assessment or other governmental charge imposed by reason of such holder’s past or present status as the case actual or constructive owner of 10 per cent or more of the winding up total combined voting power of all classes of stock entitled to vote of NT III, or the Guarantor, or as a direct or indirect subsidiary of NT III, or the Guarantor or as a bank receiving interest described in Section 881(c)(3)(A) of the Company U.S. Internal Revenue Code; or any Guarantor, if such Note is surrendered for payment in combination of the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) foregoing items; nor shall Additional Amounts be paid with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any a Note or Note Guarantee to any Holder a United States Alien who is a fiduciary or partnership or other than the sole beneficial owner of such payment (taking into account the conduit financing rules of Treasury Regulation Section 1.881-3) to the extent that such payment would be required by the laws of the United States (or any political subdivision thereof) to be included in the income, for tax purposes, of a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to any the Additional Amounts had such beneficiary or settlor beneficiary, settlor, member or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 holder of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinNote.

Appears in 1 contract

Sources: Agency Agreement (Kimco Realty Corp)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under the Subsidiary Guarantors on or with respect to the Notes or the Note Guarantees will pursuant to this Indenture shall be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and Taxes imposed by any other liability with respect thereto) (“Taxes”)Canadian Taxing Authority, unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authorityCanadian Taxing Authority. If the Company or any Subsidiary Guarantor (or any Paying Agentother payor) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Canadian Taxing Jurisdiction”) Authority from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, it shall: (1) make such withholding or deduction; (2) remit the full amount deducted or withheld to the relevant government authority in accordance with applicable law; (3) pay the additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder each holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder the holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b4) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect furnish to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishHolders, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable lawdue, to the Trustee, certified copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or such Subsidiary Guarantor; (5) indemnify and hold harmless each Holder (other than an Excluded Holder, as defined in paragraph (b) below) for the amount of (a) any Guarantor. The Trustee will make Taxes paid by each such evidence available Holder as a result of payments made on or with respect to the Holders upon request. At Notes, (b) any liability (including penalties, interest and expenses) arising from or with respect to such payments and (c) any Taxes imposed with respect to any reimbursement under the foregoing clauses (a) or (b), but excluding any such Taxes that are in the nature of Taxes on net income, taxes on capital, franchise taxes, net worth taxes and similar taxes; and (6) at least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Subsidiary Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior payment, deliver to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. (b) Notwithstanding the provisions of paragraph (a) above, no Additional Amounts shall be payable to a Person (an “Excluded Holder”) in respect of a payment made to such Person under or with respect to a Note: (1) if such Person is subject to such Taxes by reason of its being connected with Canada or any province or territory thereof otherwise than by the mere acquisition, holding or disposition of Notes or the receipt of payments thereunder; (2) if such Person waives its right to receive Additional Amounts; (3) if the Company of such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Income Tax Act (Canada), with such Person at the time of such payment; or (4) if the Company of such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Income Tax Act (Canada), with another Person to whom the Company or such Subsidiary Guarantor has an obligation to pay an amount in respect of the Notes. Whenever in this Indenture there is mentionedAny reference, in any contextcontext in this Indenture, (a) to the payment of principal (and principal, premium, if any), (b) purchase prices in connection with a purchase redemption price, Change of the NotesControl Amount, (c) interest offer price and interest, or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNote, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)payable. The obligations of the Company or any Guarantor described in under this Section 4.21 4.20 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company or any Guarantor Subsidiary Guarantor, as applicable, is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department organized or any political subdivision or taxing authority or agency thereof or therein. It is understood for purposes of this Section 4.20 that the determination of the amount of Additional Amounts shall be made at the beneficial owner level.

Appears in 1 contract

Sources: Indenture (Videotron Ltee)

Additional Amounts. ​ (1) All payments made by or on behalf of the Company or any Guarantor under the Subsidiary Guarantors on or with respect to the Notes or the Note Guarantees will pursuant to this Indenture shall be made free and clear of and without withholding or deduction for or on account of ​ ​ any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and Taxes imposed by any other liability with respect thereto) (“Taxes”)Canadian Taxing Authority, unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authorityCanadian Taxing Authority. If the Company or any Subsidiary Guarantor (or any Paying Agentother payor) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Canadian Taxing Jurisdiction”) Authority from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, it shall: ​ (i) make such withholding or deduction; ​ (ii) remit the full amount deducted or withheld to the relevant government authority in accordance with applicable law; ​ (iii) pay the additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction (including any deduction or withholding for Additional Amounts) will not be less than the amount such the Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note:; ​ (aiv) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given furnish to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishHolders, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable lawdue, to the Trustee, certified copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or such Subsidiary Guarantor; ​ (v) indemnify and hold harmless each Holder (other than an Excluded Holder, as defined in paragraph (2) below) for the amount of (a) any Guarantor. The Trustee will make Taxes paid by each such evidence available Holder as a result of payments made on or with respect to the Holders upon request. At Notes, (b) any liability (including penalties, interest and expenses) arising from or with respect to such payments and (c) any Taxes imposed with respect to any reimbursement under the foregoing clauses (a) or (b), but excluding any such Taxes that are in the nature of Taxes on net income, taxes on capital, franchise taxes, net worth taxes and similar taxes; and (vi) at least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Subsidiary Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior payment, deliver to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever ​ (2) Notwithstanding the provisions of paragraph (1) above, no Additional Amounts shall be payable to a Person (an “Excluded Holder”) in this Indenture there respect of a payment made to such Person under or with respect to a Note: ​ (i) if such Person is mentionedsubject to such Taxes by reason of its being connected with Canada or any province or territory thereof otherwise than by the mere acquisition, holding or disposition of Notes or the receipt of payments thereunder; ​ (ii) if such Person waives its right to receive Additional Amounts; ​ (iii) if the Company or such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Income Tax Act (Canada) (the “Tax Act”), with such Person at the time of such payment; (iv) if the Company or such Subsidiary Guarantor does not deal at arm’s length, within the meaning of the Tax Act, with another Person to whom the Company or such Subsidiary Guarantor has an obligation to pay an amount in respect of the Note; or ​ (v) to the extent that the Taxes giving rise to such Additional Amounts would not have been imposed but for such person being, or not dealing at arm’s length (within the meaning of the Tax Act) with, a “specified shareholder” of the Company for purposes of the thin capitalization rules in the Tax Act. ​ Any reference, in any contextcontext in this Indenture, (a) to the payment of principal (and principal, premium, if any), (b) purchase prices in connection with a purchase redemption price, Change of the NotesControl Payment, (c) offer price and interest or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNote, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereofpayable. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in under this Section 4.21 4.20 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company or any Guarantor Subsidiary Guarantor, as applicable, is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department organized or any political subdivision or taxing authority or agency thereof or therein.. It is understood for purposes of this Section 4.20 that the determination of the amount of Additional Amounts shall be made at the beneficial owner level. ​

Appears in 1 contract

Sources: Indenture (Videotron Ltee)

Additional Amounts. All payments made by (a) The Company, Avadel or on behalf of any successor to the Company or any Guarantor Avadel under or with respect to this Indenture, the Guarantee and/or the Notes (each, an “Obligor”) shall, subject to the exceptions and limitations set forth below, pay to a Holder of any Note such additional amounts (the “Additional Amounts”) as may be necessary in order that every net payment by any Obligor or a Paying Agent of the Note Guarantees will be made free principal of (including, if applicable, the Fundamental Change Repurchase Price and clear the Redemption Price) and interest on such Note, any delivery of cash and/or ADSs or other Reference Property upon exchange of such Note, and without any other amounts payable on such Note, after withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder (including the Additional Amounts) after such withholding or deduction Jurisdiction will not be less than the amount provided for herein and in the Notes to be then due and payable under the Notes had no such Holder would have received if such Taxes had not withholding or deduction been withheld or deducted, made; provided that no the obligation to pay Additional Amounts will be payable with respect to any Noteshall not apply: (ai) surrendered by the Holder to any present or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Taxfuture tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder;so imposed but for: (hA) on account the existence of any Tax that is imposed pursuant to sections 1471 through 1474 of present or former connection between the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status Holder (or the past or present status of between a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial ownerthe Holder, if such the Holder or beneficial owner is an estate, a trust, a partnership partnership, a limited liability company or a corporation) as and a personal holding companyRelevant Jurisdiction and its possessions, passive foreign investment companyincluding, without limitation, the Holder (or such fiduciary, settlor, beneficiary, member or shareholder) being or having been a citizen or resident of a Relevant Jurisdiction or being or having been engaged in a trade or business or present in a Relevant Jurisdiction or having, or controlled foreign corporation for United States federal income tax purposeshaving had, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened permanent establishment in a financial institution established inRelevant Jurisdiction, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (mB) on account the presentation by the Holder of any combination of the above. The Company Note, where presentation is required, for payment or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 delivery on a date more than 30 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or delivery became due and payable or the date on which payment or delivery thereof is duly provided for, whichever occurs later; (ii) to any estate, inheritance, gift, sales, transfer, capital gains, excise or personal property tax or any similar tax, assessment or governmental charge; (iii) to any tax, assessment or other governmental charge that is payable otherwise than by withholding or deduction from payments on or in respect of any Note; (iv) to any tax, assessment or other governmental charge that would not have been imposed but for the failure to comply with respect certification, information or other reporting requirements concerning the nationality, residence or identity of the Holder or beneficial owner of that Note, if compliance is required by statute or by regulation of a Relevant Jurisdiction as a precondition to relief or exemption from the tax, assessment or other governmental charge, and proper notice has been sent to the Notes Holder; (v) to any tax, assessment or other governmental charge required to be withheld by any Paying Agent from any payment of the principal of (including the Fundamental Change Repurchase Price and the Redemption Price, if applicable), or interest on, any Note, or the delivery of cash and/or ADSs or other Reference Property upon exchange of such Note, if such tax, assessment or other governmental charge results from the presentation of any Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant for payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, or delivery and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantordelivery, as the case may be, can be made without such withholding or deduction by the presentation of the Note for payment or delivery by at least one other Paying Agent; (vi) to any withholding or deduction required pursuant to sections 1471 through 1474 of the Code (or any amended or successor provisions), any regulations, rules, practices or agreements entered into pursuant thereto, official interpretations thereof or any law implementing an intergovernmental approach thereto; or (vii) in the case of any combination of the items listed in clauses (i) through (vi) above. Nor will Additional Amounts be paid with respect to any payment or delivery on a Note to a Holder who is a fiduciary, a partnership, a limited liability company or other than the sole beneficial owner of that payment or delivery to the extent that payment or delivery would be required by the laws of a Relevant Jurisdiction to be included in the income, for tax purposes, of a beneficiary or settlor with respect to the fiduciary, a member of that partnership, an interest holder in a limited liability company or a beneficial owner who would not have been entitled to the Additional Amounts had that beneficiary, settlor, member or beneficial owner been the Holder. (b) In addition to the foregoing, each Obligor shall also pay and indemnify the Holder of any Note for any present or future stamp, issue, registration, value added, court or documentary taxes taxes, or any other excise or property taxes, charges or similar levies that arise or taxes (including penalties, interest and any other reasonable expenses related thereto) which are levied by any Relevant Jurisdiction (“Transfer Taxes”) on the execution, delivery, registration or enforcement of any of the Notes, the Indenture or any other document or instrument referred to therein or the receipt of payments with respect thereto. For the avoidance of doubt, the indemnification provided in this paragraph shall not include any Transfer Taxes arising from the transfer of Notes in the United States, the Republic of France ordinary course. (c) If any Obligor is required to make any deduction or in any jurisdiction in which a Paying Agent is located withholding from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, such Obligor shall deliver to the Trustee official tax receipts evidencing the remittance to the relevant tax authorities of the amounts so withheld or deducted. (d) Any reference in this Indenture or the Notes in any context to the delivery of cash or ADSs or other Reference Property upon exchange of any Note Guaranteeor the payment of principal of (including the Fundamental Change Repurchase Price and the Redemption Price, the Indenture if applicable) and interest on, any Note or any other document related thereto (limitedamount payable with respect to such Note, shall be deemed to include Additional Amounts, unless the context requires otherwise, that are, were or would be payable in case respect of Taxes attributable that amount under the obligations referred to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will 4.07. (e) The foregoing obligations shall survive any termination, defeasance termination or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinIndenture.

Appears in 1 contract

Sources: Indenture (Avadel Pharmaceuticals PLC)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under on or with respect to the Notes or the Note Guarantees will pursuant to this Indenture shall be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and Taxes imposed by any other liability with respect thereto) (“Taxes”)Canadian Taxing Authority, unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authorityCanadian Taxing Authority. If the Company or any Guarantor (or any Paying Agentother payor) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Canadian Taxing Jurisdiction”) Authority from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, it shall: (1) make such withholding or deduction; (2) remit the full amount deducted or withheld to the relevant government authority in accordance with applicable law; (3) pay such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder each holder after this withholding or deduction (including the any deduction or withholding for Additional Amounts) after such withholding or deduction will not be less than the amount such Holder the holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b4) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect furnish to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishHolders, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable lawdue, to the Trustee, certified copies of tax receipts evidencing such payment by the Company; (5) indemnify and hold harmless each Holder (other than an Excluded Holder, as defined in paragraph (b) below) for the amount of (a) any Taxes paid by each such Holder as a result of payments made on or with respect to the extent received Notes, (b) any liability (including penalties, interest and expenses) arising from or with respect to such payments and (c) any Taxes imposed with respect to any reimbursement under the relevant tax authorities foregoing clauses (a) or (b), but excluding any such Taxes that are in the usual course or as generally providednature of Taxes on net income, taxes on capital, franchise taxes, net worth taxes and similar taxes; and (6) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At at least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior payment, deliver to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. (b) Notwithstanding the provisions of paragraph (a) above, no Additional Amounts shall be payable to a person (an “Excluded Holder”) in respect of a payment made to such person under or with respect to a Note: (1) if such person is subject to such Taxes by reason of its being connected with Canada or any province or territory thereof otherwise than by the mere acquisition, holding or disposition of Notes or the receipt of payments thereunder or enforcement of rights thereunder; (2) if such person waives its right to receive Additional Amounts; (3) if the Company does not deal at arm’s length, within the meaning of the Income Tax Act (Canada), with such person at the time of such payment; or (4) if the Company does not deal at arm’s length, within the meaning of the Income Tax Act (Canada), with another person to whom the Company has an obligation to pay an amount in respect of the Notes. Whenever in this Indenture there is mentionedAny reference, in any contextcontext in this Indenture, (a) to the payment of principal (and principal, premium, if any), (b) purchase prices in connection with a purchase redemption price, Change of the NotesControl Amount, (c) offer price and interest or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNote, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereofpayable. The Company or a Guarantor, as the case may be, will shall pay any present or future stamp, court court, documentary or documentary taxes or any other excise or property similar taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue execution, delivery or registration of the Notes of, or on the enforcement of any payments with respect to the Notesrights under, any Note Guarantee, the this Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)document. The obligations of the Company or any Guarantor described in under this Section 4.21 4.20 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company or any Guarantor Company, is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department organized or any political subdivision or taxing authority or agency thereof or therein. It is understood for purposes of this Section 4.20 that the determination of Additional Amounts shall be made at the beneficial ownership level.

Appears in 1 contract

Sources: Indenture (Quebecor Media Inc)

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and other liabilities related to any such tax, duty, levy, impost, assessment or other governmental charge) (collectively, "Taxes") imposed or levied by or on behalf of the Netherlands or any other liability with respect thereto) jurisdiction in which the Company is organized or is a resident for tax purposes or by any government authority or political subdivision or territory or possession or agency therein or thereof having the power to tax (“Taxes”each, a "Taxing Authority"), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the an interpretation or administration thereof by the relevant taxing authorityof law. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed by a Taxing Authority within the Netherlands or levied by or on behalf of within any other jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or is a resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (eachtax purposes, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note GuaranteesNotes, the Company or any such Guarantor will shall pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts") as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) of Notes after such withholding or deduction will not be less than the amount such the Holder and beneficial owner would have received if such Taxes had not been withheld or deducted. However, provided that no Additional Amounts will be payable with respect to a payment made to a Holder of Notes or to a third party on behalf of a Holder with respect to (a) any Taxes that would not have been imposed but for the existence of any present or former connection between that Holder and the jurisdiction imposing such tax (other than the mere receipt of payment or the ownership or holding outside of the Netherlands of such Note); (b) any estate, inheritance, gift, sales, excise, transfer, personal property tax or similar tax, assessment or governmental charge; (c) any Taxes payable otherwise than by deduction or withholding from payments of principal of, premium, if any, or interest on such Note; or (d) Taxes that would not have been imposed but for the failure of the Holder or beneficial owner of a Note to comply with any certification, identification, information, or other documentation requirement under law, regulation, administrative practice or an applicable treaty that is a precondition to exemption from, or reduction in the rate of the imposition, deduction or withholding of Taxes; nor will Additional Amounts be paid: (ai) surrendered if the payment under or with respect to the Notes could have been made by another Paying Agent without such deduction or withholding, (ii) if the Holder payment under or with respect to the beneficial owner thereof Notes could have been made without such deduction or withholding if the beneficiary of the payment had presented the Note for payment of principal more than 30 within 15 days after the later of (1A) the date on which such payment first or such Note became due and payable or (2B) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on whichwhich payment thereof is duly provided for, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, whichever is later (except to the extent that the Holder would have been entitled to such Additional Amounts had the Note been presented on surrendering the last day of such Note for payment on any day during the applicable 3015-day period;), or (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (giii) with respect to any payment made by under or on behalf of with respect to the Company or any Guarantor in respect of any Note or Note Guarantee Notes to any Holder who is a fiduciary or partnership or any person other than the sole beneficial owner of such payment payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such a partnership or the beneficial owner of such payment would not have been entitled to any the Additional Amounts had such beneficiary or settlor beneficiary, settlor, member or beneficial owner been the Holder; (h) on account actual Holder of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); Note. The Company will also (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company shall use its reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld from each Taxing Authority imposing such Taxes. The Company will furnishsupply to the Trustee for forwarding to all Holders, without cost to such Holders, within 60 days after the date the payment of any Taxes so deducted or withheld is due pursuant to applicable law, to the Trustee, certified copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make if, notwithstanding the Company's efforts to obtain such receipts, the same are not obtainable, other evidence available to of such payments by the Holders upon requestCompany. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)payment, the Company will deliver to each Paying Agent the Trustee an Officers' Certificate stating the fact that such Additional Amounts will be payable and the amounts so payable, and the amount so payable and will set forth such other information as is necessary to enable such Paying Agent Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. The provisions under this Section 4.20 will survive any termination or the discharge of this Indenture and shall apply mutatis mutandis to any jurisdiction in which any successor person to the Company is organized or is engaged in business for tax purposes or any political subdivision or taxing authority or agency thereof or therein. In addition, the Company shall pay any stamp, issue, registration, documentary or other similar taxes and duties, including interest and penalties, payable in the Netherlands or any political subdivision of or in the Netherlands in respect of the creation, issue and offering of the Notes. Whenever in this Indenture or the Notes there is mentioned, mentioned in any context, (a) the payment of amounts based upon principal (and of, premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) or interest or (d) of any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNotes, such mention is will be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 1 contract

Sources: Indenture (Jones Lang Lasalle Inc)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (hereinafter "Taxes”), ") unless the Company withholding or any Guarantor (or any Paying Agent) deduction of such Taxes is then required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of the government of the Republic of ▇▇▇▇▇▇▇▇ Islands or any political subdivision or any authority or agency therein or thereof having power to tax, or any other jurisdiction in which the Company or any Guarantor (including any successor entitiesentity) is then organized or is otherwise resident for Tax purposes or any political subdivision thereof or therein tax purposes, or any jurisdiction by from or through which payment is made (eachincluding, without limitation, the jurisdiction of each paying agent) (each a “Relevant Taxing "Specified Tax Jurisdiction”) "), will at any time be required to be made from any payment payments made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts") as may be necessary so that the net amount received in respect of such payments by such a Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted; provided, provided however, that no the foregoing obligation to pay Additional Amounts will be payable with respect to any Notedoes not apply to: (ai) surrendered by any Taxes that would not have been so imposed but for the Holder or the beneficial owner thereof of the Notes having any present or former connection with the Specified Tax Jurisdiction (other than the mere acquisition, ownership, holding, enforcement or receipt of payment in respect of the Notes); (ii) any estate, inheritance, gift, sales, excise, transfer, personal property tax or similar tax, assessment or governmental charge; (iii) any Taxes payable other than by deduction or withholding from payments under, or with respect to, the Notes; (iv) any Taxes imposed as a result of the failure of the Holder or beneficial owner of the Notes to complete, execute and deliver to the Company any form or document to the extent applicable to such Holder or beneficial owner that may be required by law or by reason of administration of such law and which is reasonably requested in writing to be delivered to the Company in order to enable the Company to make payments on the Notes without deduction or withholding for Taxes, or with deduction or withholding of a lesser amount, which form or document will be delivered within 60 days of a written request therefor by the Company; (v) any Taxes that would not have been so imposed but for the beneficiary of the payment having presented a Note for payment of principal (in cases in which presentation is required) more than 30 days after the later of (1) the date on which such payment first or such Note became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on whichwhich payment thereof is duly provided for, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, whichever is later (except to the extent that the Holder would have been entitled to such Additional Amounts had the Note been presented on surrendering the last day of such Note for payment on any day during the applicable 30-day period); (bvi) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction imposed on or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any the Holder who if such Holder is a fiduciary or partnership or Person other than the sole beneficial owner of such payment payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such partnership or the beneficial owner of such payment would not have been entitled to any Additional Amounts had such beneficiary or settlor beneficiary, settlor, member or beneficial owner been the Holderactual Holder of such Note; (hvii) on account of any Tax Taxes that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is are required to be made by reason of that deducted or withheld on a payment being (x) paid pursuant to a bank account opened in a financial institution established inEuropean Council Directive 2003/48/EC or any law implementing, or (y) paid or accrued introduced in order to a person established or domiciled inconform to, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantordirective; or (mviii) on account of any combination of the items (i) through (vii) above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts . (to the extent received from the relevant tax authorities in the usual course or as generally providedb) evidencing that such payment has been made by If the Company or any Guarantor. The Trustee becomes aware that it will make such evidence available be obligated to the Holders upon request. At least 30 days prior pay Additional Amounts with respect to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payableNotes, if the Company or any Guarantor becomes obligated will deliver to pay Additional Amounts with respect the Trustee and Paying Agent at least 30 days prior to such the date of that payment (unless such the obligation to pay Additional Amounts arises after the 30th day prior to the date on which that payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each notify the Trustee and Paying Agent in writing promptly thereafter but in no event later than five calendar days prior to the date of payment) an Officers' Certificate stating the fact that such Additional Amounts will be payable, payable and the amount so payable and will payable. The Officers' Certificate shall also set forth such any other information as necessary to enable such the Paying Agent to pay such Additional Amounts to Holders on the relevant payment date. The Trustee and Paying Agent will be entitled to rely solely on such Officers' Certificate as conclusive proof that such payments are necessary. The Company will provide the Trustee and Paying Agent with documentation evidencing the payment of Additional Amounts. (c) The Company will make all withholdings and deductions required by law and will remit the full amount deducted or withheld to the relevant governmental authority on a timely basis in accordance with applicable law. As soon as practicable, the Company will provide the Trustee and Paying Agent with an official receipt or, if official receipts are not obtainable, other documentation evidencing the payment of the Taxes so withheld or deducted. Upon written request, copies of those receipts or other documentation, as the case may be, will be made available by the Trustee and Paying Agent to the Holders of the Notes on the payment date. Notes. (d) Whenever in the Indenture or this Third Supplemental Indenture there is mentionedreferenced, in any context, (a) the payment of amounts based upon the principal (and premium, if any), (b) purchase prices in connection with a purchase amount of the NotesNotes or of principal, (c) interest or (d) any other amount payable on under, or with respect to any of to, the Notes or the Note GuaranteesNotes, such mention is reference will be deemed to include mention of the payment of Additional Amounts provided for in as described under this section heading to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. . (e) The Company will indemnify a Holder, within 10 Business Days after written demand therefor, for the full amount of any Taxes paid by such Holder to a governmental authority of a Specified Tax Jurisdiction, on or with respect to any payment by on or account of any obligation of the Company to withhold or deduct an amount on account of Taxes for which the Company would have been obligated to pay Additional Amounts hereunder and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant governmental authority. A certificate as to the amount of such payment or liability delivered to the Company by a Guarantor, as the case may be, Holder will be conclusive absent manifest error. (f) The Company will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Specified Tax Jurisdiction from the initial issue execution, delivery, enforcement or registration of the Notes Notes, the Indenture or on any other document or instrument in relation thereof, or the enforcement receipt of any payments with respect to the Notes, any Note Guarantee, and the Indenture or any other document related thereto (limited, in case of Taxes attributable to Company will indemnify the receipt of payments thereto, to Holders for any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer taxes paid by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinHolders.

Appears in 1 contract

Sources: Supplemental Indenture (Scorpio Tankers Inc.)

Additional Amounts. All payments (a) Payments made by or on behalf of the Company either Co-Issuer or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impostinterest, assessment or other governmental charge (including without limitation, penalties, interest and imposed or levied by or on behalf of the Government of Canada or any other liability with respect thereto) province or territory thereof or by any authority or agency therein or thereof having power to tax (“Taxes”), unless the Company such Co-Issuer or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by under Canadian law or by the interpretation or administration thereof by thereof. If, after the relevant taxing authority. If the Company Issue Date, either Co-Issuer or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes Notes, such Co-Issuer or the Note Guarantees, the Company or any such Guarantor will pay to each Holder holder of the Notes that are outstanding Outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, ; provided that no Additional Amounts will be payable with respect to any Notea payment made to a Holder (an “Excluded Holder”) in respect of a beneficial holder: (a1) surrendered with which such Co-Issuer or Guarantor does not deal at arm’s length (within the meaning of the Income Tax Act (Canada)) at the time of making such payment; (2) which is subject to such Taxes by reason of its being connected with Canada or any province or territory thereof otherwise than by the Holder mere holding of the Notes or the beneficial owner thereof receipt of payments thereunder; (3) which presents any Note for payment of principal more than 30 60 days after the later of (1x) the date on which such payment first became due and (2y) if the date on which the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, Trustee and notice to that effect shall have has been given to the Holders or the beneficial owners of Notes by the Trustee, except to the extent that the such Holder of Notes would have been entitled to such Additional Amounts on surrendering presenting such Note for payment on any the last day during of the applicable 3060-day period; (b4) if any Taxwhich, assessment or other governmental charge is imposed or withheld despite being required by reason of the failure law, failed to comply by the Holder or, if different, the beneficial owner of the Note with a timely request addressed to of such Holder Co-Issuer or beneficial owner Guarantor to provide information, documents or other evidence information concerning the such holder’s nationality, residence, entitlement to treaty benefits, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company Canada or any Guarantor in respect thereof political subdivision or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantorauthority thereof, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment and to the extent that a beneficiary due and timely compliance with such request would have reduced or settlor or beneficial owner would not have been entitled eliminated any Taxes as to any which Additional Amounts had such beneficiary or settlor or beneficial owner would have otherwise been the Holder; (h) on account of any Tax that is imposed pursuant payable to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation but for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantorthis clause; or (m5) on account of any combination of the above. The Company above clauses in this proviso. (b) Such Co-Issuer or any Guarantor will also also: (1) make such withholding or deduction and deduction; and (2) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company . (c) Such Co-Issuer or Guarantor will furnish, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, Holders of Notes that are Outstanding on the date of the required payment copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company such Co-Issuer or any Guarantor. The Trustee Such Co-Issuer or Guarantor will make indemnify and hold harmless each Holder of Notes that are Outstanding on the date of the required payment (other than an Excluded Holder) and upon written request reimburse each such evidence available to holder for the Holders upon request. At least 30 days prior to each date on which amount of: (1) any payment Taxes so levied or imposed and paid by such holder as a result of payments made under or with respect to the Notes or the Note Guarantees is due Notes, (2) any liability (including penalties, interest and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under expense) arising therefrom or with respect to the Notes or the Note Guarantees is due and payablethereto, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, and (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d3) any other amount payable on or Taxes imposed with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto reimbursement under clause (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l1) or any combination of items (k) and (l2) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 1 contract

Sources: Indenture (Dollarama CORP)

Additional Amounts. All payments made by or on behalf the Issuer in respect of this Note and the Indenture and by the Guarantor in respect of the Company or any Guarantor under or with respect to Guarantee and the Notes or the Note Guarantees Indenture will be made free and clear of and without deduction or withholding for or on account of any present or future taxes, duties, assessments, fees or other governmental charges ("Taxes") imposed or levied by or on behalf of Luxembourg, the Russian Federation, any jurisdiction from or through which a payment is made, or any political subdivision or taxing authority thereof or therein (each, a "Taxing Jurisdiction"), unless such withholding or deduction is required by law. If the Issuer is required to make any withholding or deduction for or on account of any present Taxes from any payment made under or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”)to this Note, unless or if the Company or any Guarantor (or any Paying Agent) is required to withhold make any withholding or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount deduction for or on account of any Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) Jurisdiction from any payment made under or with respect to the Notes or the Note GuaranteesGuarantee, the Company or any such Guarantor Issuer (or, in respect of the Guarantee, the Guarantor) will pay as additional interest to each the Holder of the Notes that are outstanding on the date of the required payment, this Note such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts") as may be necessary so in order that every net payment made by the net amount received Issuer on this Note or by such Holder (including the Additional Amounts) Guarantor on the Guarantee after such deduction or withholding for or deduction on account of any Taxes will not be less than the amount such Holder would have received if such Taxes had then due and payable on this Note or the Guarantee. The foregoing obligation to pay Additional Amounts, however, will not been withheld or deducted, provided that no Additional Amounts will be payable with respect apply to any (i) Taxes that would not have been imposed but for the existence of any present or former connection between the Holder of this Note and any Taxing Jurisdiction other than the mere receipt of such payment or the ownership or holding of this Note: ; (aii) surrendered Taxes that would not have been imposed but for the presentation by the Holder or the beneficial owner thereof of this Note for payment of principal on a date more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on whichwhich payment thereof is duly provided for, the full amount having been so received, notice whichever occurs later; (iii) Taxes required to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed be deducted or withheld by reason any Paying Agent from a payment on this Note or the Guarantee, if such payment can be made without deduction or withholding by any other Paying Agent; (iv) Taxes that would not have been imposed but for the failure of the failure Holder to comply by with the Holder or, if different, the beneficial owner of the Note with a Issuer's written request addressed to such the Holder or beneficial owner at least 60 days prior to the relevant payment to provide informationinformation with respect to any reasonable certification, documents documentation, information or other evidence reporting requirement concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of the Holder of such Holder Note; (v) Taxes imposed on a payment to an individual that are required to be made pursuant to European Union Directive 2003/48/EC or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice any other European Union Directive implementing the conclusions of the Relevant Taxing Jurisdiction as a precondition to exemption from all ECOFIN Council meeting of 26-27 November 2000 on the taxation of savings income or part of such tax, assessment any law implementing or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Notecomplying with, or the receipt of payments made by or on behalf of the Company or any Guarantor introduced in respect thereof or any Note Guarantee, including, without limitationorder to conform to, such Holder Directive; or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (dvi) on account of any estate, inheritance, gift, sale, transfer, personal property sale or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income excise tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 1 contract

Sources: Indenture (Mobile Telesystems Ojsc)

Additional Amounts. All payments made by or on behalf The Company will pay to Holders of the Company Securities such Additional Amounts as may be necessary in order that every net payment of principal, premium, if any, Change of Control Purchase Price, Redemption Price or interest in respect of any Guarantor under Securities, after deduction or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge imposed upon or as a result of such payment by (including without limitationi) Bermuda or Ireland or any political subdivision or governmental authority thereof or therein having power to tax, penalties(ii) any jurisdiction from or through which payment is made, interest and or any political subdivision or governmental authority thereof or therein having the power to tax, or (iii) any other liability with respect thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or otherwise considered to be a resident for Tax purposes tax purposes, or any political subdivision or governmental authority thereof or therein or any jurisdiction by or through which payment is made (eachhaving the power to tax, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount provided for in such Holder would have received if such Taxes had not been withheld or deductedSecurities to be then due and payable; provided, provided however, that no the foregoing obligation to pay Additional Amounts will be payable not apply (a) with respect to any Note:Security presented for payment by, or on behalf of, a Holder who is liable for such taxes, duties, assessments or other governmental charges in respect of such Securities by reason of such Holder being a resident, domiciliary or national of, or engaging in business or maintaining a permanent establishment or being physically present in, a Relevant Taxing Jurisdiction, or any political subdivision or taxing authority thereof or therein, or other- wise having some connection with a Relevant Taxing Jurisdiction, or any political subdivision or taxing authority thereof or therein, other than the mere holding of such Securities; (ab) surrendered by to any tax, assessment or other governmental charge which would not have been imposed but for the fact that such Holder or the beneficial owner thereof (i) presented its Securities for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the TrusteeRelevant Date, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering if it had presented such Note Securities for payment on any day during within the applicable 30-day period; period or (bii) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to presented such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered Securities for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of Relevant Taxing Jurisdiction, unless such payment to the extent that a beneficiary or settlor or beneficial owner would Securities could not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holderpresented for payment elsewhere; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 1 contract

Sources: Indenture (Elan Corp PLC)

Additional Amounts. All payments made by or on behalf the Issuer in respect of this Note and the Indenture and by the Guarantor in respect of the Company or any Guarantor under or with respect to Guarantee and the Notes or the Note Guarantees Indenture will be made free and clear of and without deduction or withholding for or on account of any present or future taxes, duties, assessments, fees or other governmental charges (“Taxes”) imposed or levied by or on behalf of Luxembourg, the Russian Federation, any jurisdiction from or through which a payment is made, or any political subdivision or taxing authority thereof or therein (each, a “Taxing Jurisdiction”), unless such withholding or deduction is required by law. If the Issuer is required to make any withholding or deduction for or on account of any present Taxes from any payment made under or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”)to this Note, unless or if the Company or any Guarantor (or any Paying Agent) is required to withhold make any withholding or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount deduction for or on account of any Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) Jurisdiction from any payment made under or with respect to the Notes or the Note GuaranteesGuarantee, the Company or any such Guarantor Issuer (or, in respect of the Guarantee, the Guarantor) will pay as additional interest to each the Holder of the Notes that are outstanding on the date of the required payment, this Note such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that every net payment made by the net amount received Issuer on this Note or by such Holder (including the Additional Amounts) Guarantor on the Guarantee after such deduction or withholding for or deduction on account of any Taxes will not be less than the amount such Holder would have received if such Taxes had then due and payable on this Note or the Guarantee. The foregoing obligation to pay Additional Amounts, however, will not been withheld or deducted, provided that no Additional Amounts will be payable with respect apply to any (i) Taxes that would not have been imposed but for the existence of any present or former connection between the Holder of this Note and any Taxing Jurisdiction other than the mere receipt of such payment or the ownership or holding of this Note: ; (aii) surrendered Taxes that would not have been imposed but for the presentation by the Holder or the beneficial owner thereof of this Note for payment of principal on a date more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on whichwhich payment thereof is duly provided for, the full amount having been so received, notice whichever occurs later; (iii) Taxes required to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed be deducted or withheld by reason any Paying Agent from a payment on this Note or the Guarantee, if such payment can be made without deduction or withholding by any other Paying Agent; (iv) Taxes that would not have been imposed but for the failure of the failure Holder to comply by with the Holder or, if different, the beneficial owner of the Note with a Issuer’s written request addressed to such the Holder or beneficial owner at least 60 days prior to the relevant payment to provide informationinformation with respect to any reasonable certification, documents documentation, information or other evidence reporting requirement concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of the Holder of such Holder or beneficial owner which is Note; (v) Taxes imposed on a payment to an individual that are required or imposed by a statute, treaty, regulation or administrative practice to be made pursuant to any European Union Directive on the taxation of savings implementing the conclusion of the Relevant Taxing Jurisdiction as a precondition to exemption from all ECOFIN Council meeting of 26-27 November 2000 or part of such tax, assessment any law implementing or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Notecomplying with, or the receipt of payments made by or on behalf of the Company or any Guarantor introduced in respect thereof or any Note Guarantee, including, without limitationorder to conform to, such Holder Directive; or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (dvi) on account of any estate, inheritance, gift, sale, transfer, personal property sale or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income excise tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 1 contract

Sources: Indenture (Mobile Telesystems Ojsc)

Additional Amounts. All With respect to any payments made by or on the behalf of the Company Issuer or any a Guarantor under or with in respect to of the Notes or any Guarantee of the Notes, as applicable, the Issuer or such Guarantor will make all payments of principal, premium, if any, and interest (whether on scheduled payment dates or upon acceleration) and the Redemption Price, if any, payable in respect of any Note Guarantees will be made free and clear of and without deduction or withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (“Taxes”)) imposed, unless the Company levied, collected, withheld or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied assessed by or on behalf of any jurisdiction in which the Company Issuer or any such Guarantor (including any successor entities) is then organized incorporated or organized, engaged in business for tax purposes or otherwise resident for Tax purposes tax purposes, or any political subdivision thereof or taxing authority therein or and any jurisdiction by or through which any payment is made on behalf of the Issuer or any Guarantor (including the jurisdiction of any Paying Agent) (each, a “Relevant Taxing Jurisdiction”) from ), upon or as a result of such payments, unless required by law or by the official interpretation or administration thereof. To the extent that any payment made under such Taxes are so levied or with respect to the Notes or the Note Guaranteesimposed, the Company Issuer or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount received by such each Holder (including the Additional Amounts) ), after withholding for or on account of such withholding Taxes imposed upon or deduction as a result of such payment, will not be less than the amount such Holder that would have been received if had such Taxes had not been withheld imposed or deductedlevied. Notwithstanding the foregoing, provided that no such Additional Amounts will shall be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for a payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior made to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any a Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein;: (d1) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is Taxes are imposed pursuant to sections Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, amended (the “Code”), any current or future regulations or other official guidance thereunderinterpretations thereof, any intergovernmental agreement entered into in connection therewithfiscal or regulatory legislation, any similar law rules or regulation practices adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States States, with respect to any of the foregoing, foregoing or any agreements entered into pursuant to section Section 1471(b)(1) of the Code (any such Tax, FATCA WithholdingFATCA);) and/or the UK’s International Tax Compliance Regulations 2015; or (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within extent that such Taxes would not have been so imposed, levied or assessed but for the meaning existence of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if some connection between such Holder or beneficial owner is an estate, a trust, a partnership of such Note and the Taxing Jurisdiction imposing such Taxes other than the mere holding or a corporation) as a personal holding company, passive foreign investment company, enforcement of such Note or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason receipt of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantorpayments thereunder; or (m3) to the extent that such Taxes would not have been so imposed, levied or assessed but for the failure of the Holders or beneficial owners of such Note to comply with a reasonable written request by the Issuer (or its agent) to make a valid declaration of non-residence or any other claim or filing for exemption to which it is entitled (but only to the extent it is legally entitled to do so); or (4) that presents such Note for payment (where presentation is required) more than 30 days after the date on account which such payment became due and payable or the date on which payment of the Note is duly provided for and notice is given to Holders, whichever occurs later, except to the extent that the Holder or beneficial owner of such Note would have been entitled to such Additional Amounts on presenting such Note on any date during such 30-day period; or (5) in the case of a payment made by or on behalf of the Issuer or any Guarantor organized under the laws of the United States, any state thereof or the District of Columbia, with respect to any United States withholding taxes, so long as such withholding taxes are summarized in the prospectus supplement with respect to the Notes, dated May 12, 2022, in the discussion under the caption “Certain Material Income Tax Consequences—United States Taxation” or the Issuer or such Guarantor (pursuant to Section 1.06 of the Original Indenture) provides reasonable notice regarding potential United States withholding taxes and requests Holders and beneficial owners to provide applicable U.S. tax forms; or (6) any combination of the above. The Company or As used herein and for purposes of the Indenture and the Notes, any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld reference to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment principal of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date and interest on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premiumRedemption Price, if any), shall be deemed to include a reference to any related Additional Amounts payable in respect of such amounts. The Issuer will also pay any stamp, registration, excise or property taxes and any other similar levies (bincluding any interest and penalties related thereto) purchase prices in connection with a purchase imposed by any Taxing Jurisdiction on the execution, delivery, registration or enforcement of any of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable or instrument referred to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)therein. The foregoing obligations of the Company or any Guarantor described in this Section 4.21 1.09 will survive any termination, defeasance or satisfaction and discharge of this the Indenture and will apply mutatis mutandis to any successor of the Issuer or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinGuarantor.

Appears in 1 contract

Sources: Fifth Supplemental Indenture (Willis Towers Watson PLC)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor Issuer under or with respect to the Notes or the Note Guarantees will be made free and clear of of, and without withholding or deduction for or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge imposed or levied by or on behalf of the government of Canada or of any province or territory thereof or by any authority or agency therein or thereof having power to tax (including without limitation, penalties, interest and any other liability with respect thereto) (“"Canadian Taxes"), unless the Company or any Guarantor (or any Paying Agent) Issuer is required to withhold or deduct Canadian Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritygovernmental authority or agency. If the Company or any Guarantor (or any Paying Agent) Issuer is so required to withhold or deduct any amount for or on account of Canadian Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note GuaranteesNotes, the Company or any such Guarantor Issuer will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts") as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such the Holder would have received if such Canadian Taxes had not been withheld or deducted; provided, provided that no Additional Amounts will be payable with respect to any Note: a payment made to a Holder (aan "Excluded Holder") surrendered by (i) with which the Holder or Issuer does not deal at arm's length (within the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf meaning of the relevant Holder Income Tax Act (Canada)) at the time of making such payment, or the beneficial owner on or prior (ii) which is subject to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld Canadian Taxes by reason of the failure to comply its being connected with Canada or any province or territory thereof otherwise than by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchaseacquisition, holding or disposition disposi tion of any Note, Notes or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); . The Issuer will also (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant governmental authority in accordance with applicable law. The Company Issuer will furnishfurnish to the Holders (other than an Excluded Holder), within 60 30 days after the date the payment of any Canadian Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts evidencing such payment by the Issuer. The Issuer will indemnify and hold harmless each Holder (other than an Excluded Holder) and upon written request reimburse each such Holder for the amount of (i) any Canadian Taxes so levied or imposed and paid by such Holder as a result of payments made under or with respect to the extent received from the relevant tax authorities in the usual course Notes, (ii) any liability (including penalties, interest and expenses) arising therefrom or as generally providedwith respect thereto, and (iii) evidencing that any Canadian Taxes imposed with respect to any reimbursement under (i) or (ii), but excluding any such payment has been made by the Company or any Guarantor. The Trustee will make Canadian Taxes on such evidence available to the Holders upon request. Holder's net income. (b) At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes Issuer will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)payment, the Company Issuer will deliver to each Paying Agent the Trustee an Officers' Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes (other than an Excluded Holder) on the payment date. Whenever in this Indenture there is mentioned, mentioned in any context, (a) context the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notesredemption price, (c) interest or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNote, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 1 contract

Sources: Indenture (Archivex LTD)

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor Corporation under or with respect to the Notes or the Note Guarantees Securities will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge imposed or levied by or on behalf of the Government of Canada or of any province or territory thereof or by any authority or agency therein or thereof having power to tax (including without limitation, penalties, interest and any other liability with respect thereto) (hereinafter “Taxes”), unless the Company or any Guarantor (or any Paying Agent) Corporation is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritythereof. If the Company or any Guarantor (or any Paying Agent) Corporation is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note GuaranteesSecurities, the Company or any such Guarantor Corporation will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such the Holder would have received if such Taxes had not been withheld or deducted, ; provided that no Additional Amounts will be payable with respect to any Note: a payment made to a Holder (asuch Holder, an “Excluded Holder”) surrendered by (i) with which the Holder or Corporation does not deal at arm’s length (within the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf meaning of the relevant Holder Income Tax Act (Canada)) at the time of making such payment, or the beneficial owner on or prior (ii) which is subject to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld Taxes by reason of the failure to comply its being connected with Canada or any province or any territory thereof otherwise than by the Holder or, if different, the beneficial owner mere holding of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, Securities or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); . The Corporation will also (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company Corporation will furnishfurnish to the Holder of the Securities, within 60 30 days after the date the payment of any Taxes taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts evidencing such payment by the Corporation. The Corporation will indemnify and hold harmless each Holder (other than an Excluded Holder) and upon written request reimburse each such Holder for the amount of (i) any Taxes so levied or imposed and paid by such Holder as a result of payments made under or with respect to the extent received from the relevant tax authorities in the usual course Securities, (ii) any liability (including penalties, interest and expenses) arising therefrom or as generally providedwith respect thereto, and (iii) evidencing that any Taxes imposed with respect to any reimbursement under (i) or (ii), but excluding any such payment has been made by the Company or any Guarantor. The Trustee will make Taxes on such evidence available to the Holders upon requestHolder’s net income. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees Securities is due and payable, if the Company or any Guarantor becomes Corporation will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)payment, the Company Corporation will deliver to each Paying Agent the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever Wherever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on under or with respect to any of the Notes or the Note Guaranteesa Security, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration obligations of the Notes Corporation under this Section 1011 shall survive the termination of this Indenture and the payment of all amounts under or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinSecurities.

Appears in 1 contract

Sources: Indenture (Agrium Inc)

Additional Amounts. All payments made by or on behalf After the occurrence of a Non-U.S. Domicile Transaction with respect to the Company or any Guarantor under successor in interest to the Company, all payments made by the successor Person resulting from the Non-U.S. Domicile Transaction (each such successor Person resulting from a Non-U.S. Domicile Transaction, a “non-U.S. Payor”) on or with respect to the Notes or the Note Guarantees Securities will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other similar governmental charge (including without limitationcollectively, penalties, interest and any other liability with respect thereto) (“Taxes”), ) unless the Company such withholding or any Guarantor (or any Paying Agent) deduction is required to withhold or deduct Taxes by law or by the interpretation or of administration thereof by the relevant taxing authorityof law. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of of: (1) any jurisdiction in which (other than the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes United States or any political subdivision or governmental authority thereof or therein or any jurisdiction by having power to tax) from or through which payment on the Securities is made by or on behalf of a non-U.S. Payor, or any political subdivision or governmental authority thereof or therein having the power to tax; or (each2) any jurisdiction (other than the United States or any political subdivision or governmental authority thereof or therein having the power to tax) in which a non-U.S. Payor that makes a payment on the Securities is organized or otherwise considered to be a resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax (each of clauses (1) and (2), a “Relevant Taxing Jurisdiction”) ), will at any time be required from any payment payments made under or with respect to the Notes Securities, including payments of principal, redemption price, interest or the Note Guaranteespremium, if any, the Company or any such Guarantor non-U.S. Payor will pay to each Holder of the Notes that are outstanding on the date of the required payment, (together with such payments) such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount amounts received in respect of such payments by such the Holder (including the Additional Amounts) after such withholding or deduction (including any such deduction or withholding from such Additional Amounts), will not be less than the amount such Holder amounts that would have been received if in respect of such Taxes had not been withheld payments on the Securities in the absence of such withholding or deducteddeduction; provided, provided however, that no such Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder for or the beneficial owner thereof for payment of principal more than 30 days after the later of on account of: (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary so imposed or settlor or beneficial owner been levied but for the Holder; (h) on account existence of any Tax that is imposed pursuant to sections 1471 through 1474 of present or former connection between the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status relevant Holder (or the past or present status of between a fiduciary, settlor, beneficiary, partner, member or shareholder of, or possessor of a power over, such Holder or beneficial ownerthe relevant Holder, if such Holder or beneficial owner is an estate, a nominee, trust, a partnership partnership, limited liability company or a corporation) as and the Relevant Taxing Jurisdiction (including being a personal holding company, passive foreign investment companycitizen or resident or national of, or controlled foreign corporation for United States federal income tax purposes, carrying on a business or as maintaining a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established permanent establishment in, or (y) paid or accrued to a person established or domiciled being physically present in, a non-cooperative State the Relevant Taxing Jurisdiction) but excluding, in each case, any connection arising solely from the acquisition, ownership or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A holding of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder Securities or the beneficial owner of the Note concurrently being a shareholder of the Company enforcement or receipt of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.;

Appears in 1 contract

Sources: Indenture (Broadcom Inc.)

Additional Amounts. (a) All payments made by or on behalf of the Company Issuer Trust or any Guarantor under of, or with in respect to of, principal of and premium (if any), including Principal Premium, and interest on the Notes or the Note Guarantees will shall be made free and clear of of, and without collection, withholding or deduction for or on account of of, any present or future tax, duty, levy, impost, duty, assessment or other governmental charge (including without limitationany interest, penalties, interest inflationary adjustments and any other liability with respect penalties related thereto) whatsoever and wherever imposed, assessed, levied or collected (collectively, “Taxes”), unless the Company such collection, withholding or any Guarantor (or any Paying Agent) deduction is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. of law. (b) If the Company Issuer Trust or any Paying Agent or any Guarantor (or any Paying Agent) is so required to collect, deduct or withhold or deduct any amount for or on account in respect of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entitiesi) is then organized or resident for Tax purposes Mexico (or any political subdivision thereof or any authority therein or thereof having the power to tax); (ii) any other jurisdiction under the laws of which the Issuer Trust or such Guarantor is organized or resident for tax purposes (or any political subdivision thereof or any authority therein or thereof having the power to tax) or (iii) any jurisdiction by from or through which payment on the Notes is made by or at the direction of the Issuer Trust or such Guarantor (or any political subdivision thereof or any authority therein or thereof having the power to tax) (each, a “Relevant Taxing Jurisdiction”) from any payment payments made under or with respect to the Notes or the Note GuaranteesNotes, the Company Issuer Trust or any such Guarantor Guarantor, as the case may be, will determine and pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction of Notes will not be less than the amount such Holder would have received if such Taxes (including any Taxes collected, withheld or deducted from the payment of such Additional Amounts) had not been collected, withheld or deducted, provided that no . The foregoing obligation to pay Additional Amounts will be payable with respect to any NoteHolder of Notes, however, will not apply to or in respect of: (ai) surrendered by any Taxes that would not have been so imposed, assessed, levied or collected but for the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf fact of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, payments under the Note or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as being or having been a personal holding company, passive foreign investment companycitizen or resident of, or controlled foreign corporation engaging or having been engaged in a trade or business or maintaining or having maintained a permanent establishment for United States federal income tax purposespurposes in, a Relevant Taxing Jurisdiction or otherwise having or having had some present or former connection with a Relevant Taxing Jurisdiction other than the mere holding or ownership of, or as the collection of principal of, and premium (if any), including Principal Premium, or interest on, or the enforcement of rights with respect to, a corporation that accumulates earnings to avoid U.S. federal income taxNote; (kii) when such withholding any Taxes that would not have been so imposed, assessed, levied or deduction collected but for French taxes the fact that, where presentation is required in order to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established inreceive payment, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 was presented more than 30 days after the date the on which such payment of any Taxes became due and payable or was provided for, whichever is due pursuant to applicable lawlater, to the Trustee, copies of tax receipts (except to the extent received that the Holder would have been entitled to Additional Amounts had the Note been presented for payment on the last day of such 30-day period; (iii) any estate, inheritance, gift, sales, stamp, transfer, excise, value added or personal property or similar Taxes; (iv) any Taxes that are payable otherwise than by collection, deduction or withholding from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or payments with respect to the Notes or the Note Guarantees Guarantees; (v) any Taxes that would not have been so imposed, assessed, levied or collected but for the failure by the Holder or the beneficial owner of any payments under the Note or the Note Guarantee (i) to provide any certification, identification, information, documentation, tax forms or other evidence concerning the nationality, residence, citizenship, maintenance of a trade or business or a permanent establishment for Tax purposes, or identity of such Holder or beneficial owner or its present or former connection with the Relevant Taxing Jurisdiction or (ii) to satisfy any other reporting, information or procedural requirements relating to such matters if, in each case, compliance is due and payable, if timely requested by the Company Issuer Trust or any Guarantor becomes obligated and required by law, statute, rule, regulation, resolution, interpretation or administrative practice of the Relevant Taxing Jurisdiction as a condition to relief, reduction or exemption from such Taxes; (vi) any payment on a Note or the Note Guarantees to a Holder that is a fiduciary, a partnership, a limited liability company or any Person other than the sole beneficial owner of any such payment to the extent that a beneficiary or settlor with respect to such fiduciary, a partner of such partnership, a member of such limited liability company, or the beneficial owner of the payment would not have been entitled to the Additional Amounts had the beneficiary, settlor, partner, member or beneficial owner been the Holder of the Note; or (vii) any combination of the Taxes and/or collections, withholdings or deductions described in (i) through (vi) above. (c) The exceptions to the obligations to pay Additional Amounts with respect stated in Section 4.35(b)(v) hereof will not apply if the provision of information, documentation, tax forms or other evidence described in Section 4.35(b)(v) hereof will would be materially more onerous, in form, in procedure or in the substance of information disclosed, to a Holder or beneficial owner of any payments under the Note or the Note Guarantee (taking into account any relevant differences between U.S. and the Relevant Taxing Jurisdiction’s law, regulations or administrative practice) than comparable information or other reporting requirements imposed under U.S. tax law, regulations and administrative practice (such payment as IRS Forms W-8 and W-9). (unless such obligation d) The exceptions to the obligations to pay Additional Amounts arises after stated in Section 4.35(b)(v) hereof will not apply if, with respect to Taxes imposed by Mexico or any political subdivision or taxing authority thereof, Article 166, Section II, subsection a), of the 30th day prior Mexican Income Tax Law (Ley del Impuesto Sobre la Renta) (or a substantially similar successor of such Article, whether included in any law, rule, resolution or regulation) is in effect, unless (a) the provision of the information, documentation, tax forms or other evidence described in Section 4.35(b)(v) hereof is expressly required by statute, law, rule, resolution, regulation, or official administrative practice to apply Article 166, Section II, subsection a), of the Mexican Income Tax Law (or a substantially similar successor of such Article, whether included in any law, rule, resolution or regulation); (b) the Issuer Trust or any Guarantor, as the case may be, cannot obtain the information, documentation, tax forms or other evidence necessary to comply with the applicable laws, rules, resolutions and regulations on its own through reasonable diligence and without requiring it from Holders or from the beneficial owner of the payments; and (c) the Issuer Trust or any Guarantor, as the case may be, otherwise would meet the requirements for application of Article 166, Section II, subsection a), of the Mexican Income Tax Law (or a substantially similar successor of such Article, whether included in any law, rule, resolution or regulation). (e) Notwithstanding anything to the date on which payment under contrary in this Section 4.35, the Issuer Trust and the Guarantors may withhold or deduct any amount pursuant to Sections 1471 through 1474 of the Code (or any amended or successor version of such Sections), any regulations promulgated thereunder, any official interpretations thereof, any similar law or regulations adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to the Notes foregoing or any agreements entered into pursuant to Section 1471(b)(1) of the Code. (f) The Issuer Trust or the Note Guarantees applicable Guarantor, as the case may be, shall use reasonable efforts to provide the Indenture Trustee with the official acknowledgment or receipt of the applicable Relevant Taxing Jurisdiction (or, if such acknowledgment or receipt is due and payablenot available, other reasonable documentation) evidencing any payment of any Taxes in respect of which case it will the Issuer Trust or such Guarantor has paid any Additional Amounts. Copies of such documentation shall be paid promptly thereafter and in any case before made available by the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts Indenture Trustee to the Holders of the Notes on or the payment date. Whenever Paying Agents, as applicable, upon request therefor. (g) The Issuer Trust will pay any stamp, issue, excise, property, registration, documentary or other similar Taxes and duties, including interest and penalties, imposed by a Relevant Taxing Jurisdiction in respect of the creation, issue, delivery, registration and offering of the Notes, the execution of the Notes, this Indenture there is mentionedor any other related document or instrument, or the receipt of any payments with respect to the Notes (other than Taxes or similar levies resulting from the transfer or exchange of Notes). The Issuer Trust will also pay and indemnify the Indenture Trustee, the Offshore Collateral Agent and the Holders from and against all court Taxes or other Taxes and duties, including interest and penalties, paid by any of them in any contextjurisdiction in connection with any action permitted to be taken by the Indenture Trustee, the Offshore Collateral Agent and the Holders to enforce the obligations of the Issuer Trust under the Notes, this Indenture or any other Transaction Document. (ah) Unless otherwise stated, references in any context to the payment of principal (of, and premium, if any), (b) purchase prices in connection with a purchase of the Notesincluding Principal Premium, (c) or interest or (d) on, any other amount payable on or with respect to any of the Notes or the Note GuaranteesNote, such mention is will be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. . (i) The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The foregoing obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture and will apply mutatis mutandis to any successor to the Issuer Trust or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinGuarantor.

Appears in 1 contract

Sources: Trust Agreement (Murano Global Investments PLC)

Additional Amounts. All With respect to any payments made by or on the behalf of the Company Issuer or any a Guarantor under or with in respect to of the Notes or any Guarantee of the Notes, as applicable, the Issuer or such Guarantor will make all payments of principal, premium, if any, and interest (whether on scheduled payment dates or upon acceleration) and the Redemption Price, if any, payable in respect of any Note Guarantees will be made free and clear of and without deduction or withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (“Taxes”)) imposed, unless the Company levied, collected, withheld or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied assessed by or on behalf of any jurisdiction in which the Company Issuer or any such Guarantor (including any successor entities) is then organized incorporated or organized, engaged in business for tax purposes or otherwise resident for Tax purposes tax purposes, or any political subdivision thereof or taxing authority therein or and any jurisdiction by or through which any payment is made on behalf of the Issuer or any Guarantor (including the jurisdiction of any Paying Agent) (each, a “Relevant Taxing Jurisdiction”) from ), upon or as a result of such payments, unless required by law or by the official interpretation or administration thereof. To the extent that any payment made under such Taxes are so levied or with respect to the Notes or the Note Guaranteesimposed, the Company Issuer or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount received by such each Holder (including the Additional Amounts) ), after withholding for or on account of such withholding Taxes imposed upon or deduction as a result of such payment, will not be less than the amount such Holder that would have been received if had such Taxes had not been withheld imposed or deductedlevied. Notwithstanding the foregoing, provided that no such Additional Amounts will shall be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for a payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior made to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any a Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein;: (d1) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is Taxes are imposed pursuant to sections Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, amended (the “Code”), any current or future regulations or other official guidance thereunderinterpretations thereof, any intergovernmental agreement entered into in connection therewithfiscal or regulatory legislation, any similar law rules or regulation practices adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States States, with respect to any of the foregoing, foregoing or any agreements entered into pursuant to section Section 1471(b)(1) of the Code (any such Tax, FATCA WithholdingFATCA);) and/or the UK’s International Tax Compliance Regulations 2015; or (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within extent that such Taxes would not have been so imposed, levied or assessed but for the meaning existence of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if some connection between such Holder or beneficial owner is an estateof such Note and the Taxing Jurisdiction imposing such Taxes (including, a trustfor the avoidance of doubt, a partnership the direct or a corporation) as a personal indirect affiliation through share capital, control, profit entitlement or management with the Issuer or any Guarantor or rights to acquire such affiliation), other than the mere holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, enforcement of such Note or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason receipt of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantorpayments thereunder; or (m3) to the extent that such Taxes would not have been so imposed, levied or assessed but for the failure of the Holders or beneficial owners of such Note to comply with a reasonable written request by the Issuer (or its agent) to make a valid declaration of non-residence or any other claim or filing for relief or exemption (or to assist in the completion of any such claim or filing) to which it is entitled (but only to the extent it is legally entitled to do so); or (4) that presents such Note for payment (where presentation is required) more than 30 days after the date on account which such payment became due and payable or the date on which payment of the Note is duly provided for and notice is given to Holders, whichever occurs later, except to the extent that the Holder or beneficial owner of such Note would have been entitled to such Additional Amounts on presenting such Note on any date during such 30-day period; or (5) in the case of a payment made by or on behalf of the Issuer or any Guarantor organized under the laws of the United States, any state thereof or the District of Columbia, with respect to any United States withholding taxes, so long as such withholding taxes are summarized in the prospectus supplement with respect to the Notes, dated February 27, 2024, in the discussion under the caption “Certain Material Income Tax Consequences—United States Taxation” or the Issuer or such Guarantor (pursuant to Section 1.06 of the Original Indenture) provides reasonable notice regarding potential United States withholding taxes and requests Holders and beneficial owners to provide applicable U.S. tax forms; or (6) any combination of the above. The Company or As used herein and for purposes of the Indenture and the Notes, any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld reference to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment principal of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date and interest on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premiumRedemption Price, if any), shall be deemed to include a reference to any related Additional Amounts payable in respect of such amounts. The Issuer will also pay any stamp, registration, excise or property taxes and any other similar levies (bincluding any interest and penalties related thereto) purchase prices in connection with a purchase imposed by any Taxing Jurisdiction on the execution, delivery, registration or enforcement of any of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable or instrument referred to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)therein. The foregoing obligations of the Company or any Guarantor described in this Section 4.21 1.09 will survive any termination, defeasance or satisfaction and discharge of this the Indenture and will apply mutatis mutandis to any successor of the Issuer or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinGuarantor.

Appears in 1 contract

Sources: Seventh Supplemental Indenture (Willis Towers Watson PLC)

Additional Amounts. All With respect to any payments made by or on the behalf of the Company Issuer or any a Guarantor under or with in respect to of the Notes or any Guarantee of the Notes, as applicable, the Issuer or such Guarantor will make all payments of principal of, premium, if any, and interest on (whether on scheduled payment dates or upon acceleration) and the Redemption Price, if any, payable in respect of any Note Guarantees will be made free and clear of and without deduction or withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (“Taxes”)) imposed, unless the Company levied, collected, withheld or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied assessed by or on behalf of any jurisdiction in which the Company Issuer or any such Guarantor (including any successor entities) is then organized incorporated or organized, engaged in business for tax purposes or otherwise resident for Tax purposes tax purposes, or any political subdivision thereof or taxing authority therein or and any jurisdiction by or through which any payment is made on behalf of the Issuer or any Guarantor (including the jurisdiction of any Paying Agent) (each, a “Relevant Taxing Jurisdiction”) from ), upon or as a result of such payments, unless required by law or by the official interpretation or administration thereof. To the extent that any payment made under such Taxes are so levied or with respect to the Notes or the Note Guaranteesimposed, the Company Issuer or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount received by such each Holder (including the Additional Amounts) ), after withholding for or on account of such withholding Taxes imposed upon or deduction as a result of such payment, will not be less than the amount such Holder that would have been received if had such Taxes had taxes not been withheld imposed or deducted, provided levied; except that no such Additional Amounts will shall be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for a payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior made to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any a Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein;: (d1) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is Taxes are imposed pursuant to sections Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, amended (the “Code”), any current or future regulations or other official guidance thereunderinterpretations thereof, any intergovernmental agreement entered into in connection therewithfiscal or regulatory legislation, any similar law rules or regulation practices adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States States, with respect to any of the foregoing, forgoing or any agreements entered into pursuant to section Section 1471(b)(1) of the Code (any such Tax, FATCA WithholdingFATCA);) and/or the UK’s International Tax Compliance Regulations 2015; or (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within extent that such Taxes would not have been so imposed, levied or assessed but for the meaning existence of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if some connection between such Holder or beneficial owner is an estate, a trust, a partnership of such Note and the Taxing Jurisdiction imposing such Taxes other than the mere holding or a corporation) as a personal holding company, passive foreign investment company, enforcement of such Note or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason receipt of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantorpayments thereunder; or (m3) to the extent that such Taxes would not have been so imposed, levied or assessed but for the failure of the Holders or beneficial owners of such Note to comply with a reasonable written request by the Issuer (or its agent) to make a valid declaration of non-residence or any other claim or filing for exemption to which it is entitled (but only to the extent it is legally entitled to do so); or (4) that presents such Note for payment (where presentation is required) more than 30 days after the date on account which such payment became due and payable or the date on which payment of the Note is duly provided for and notice is given to Holders, whichever occurs later, except to the extent that the Holder or beneficial owner of such Note would have been entitled to such Additional Amounts on presenting such Note on any date during such 30-day period; or (5) in the case of a payment made by or on behalf of the Issuer or any Guarantor organized under the laws of the United States, any state thereof or the District of Columbia, with respect to any United States withholding taxes, so long as such withholding taxes are summarized in the prospectus supplement, dated September 3, 2019, in the discussion under the caption “Certain Material Income Tax Consequences—United States Taxation” or the Issuer or such Guarantor (pursuant to Section 1.06 of the Original Indenture) provides reasonable notice regarding potential United States withholding taxes and requests Holders and beneficial owners to provide applicable U.S. tax forms; or (6) any combination of the above. The Company or As used herein and for purposes of the Indenture and the Notes, any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld reference to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment principal of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date and interest on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premiumRedemption Price, if any), shall be deemed to include a reference to any related Additional Amounts payable in respect of such amounts. The Issuer will also pay any stamp, registration, excise or property taxes and any other similar levies (bincluding any interest and penalties related thereto) purchase prices in connection with a purchase imposed by any Taxing Jurisdiction on the execution, delivery, registration or enforcement of any of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable or instrument referred to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 1 contract

Sources: Fourth Supplemental Indenture (Willis Towers Watson PLC)

Additional Amounts. All With respect to any payments made by or on the behalf of the Company Issuer or any a Guarantor under or with in respect to of the Notes or any Guarantee of the Notes, as applicable, the Issuer or such Guarantor will make all payments of principal, premium, if any, and interest (whether on scheduled payment dates or upon acceleration) and the Redemption Price, if any, payable in respect of any Note Guarantees will be made free and clear of and without deduction or withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (“Taxes”)) imposed, unless the Company levied, collected, withheld or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied assessed by or on behalf of any jurisdiction in which the Company Issuer or any such Guarantor (including any successor entities) is then organized incorporated or organized, engaged in business for tax purposes or otherwise resident for Tax purposes tax purposes, or any political subdivision thereof or taxing authority therein or and any jurisdiction by or through which any payment is made on behalf of the Issuer or any Guarantor (including the jurisdiction of any Paying Agent) (each, a “Relevant Taxing Jurisdiction”) from ), upon or as a result of such payments, unless required by law or by the official interpretation or administration thereof. To the extent that any payment made under such Taxes are so levied or with respect to the Notes or the Note Guaranteesimposed, the Company Issuer or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount received by such each Holder (including the Additional Amounts) ), after withholding for or on account of such withholding Taxes imposed upon or deduction as a result of such payment, will not be less than the amount such Holder that would have been received if had such Taxes had not been withheld imposed or deductedlevied. Notwithstanding the foregoing, provided that no such Additional Amounts will shall be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for a payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior made to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any a Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein;: (d1) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is Taxes are imposed pursuant to sections Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, amended (the “Code”), any current or future regulations or other official guidance thereunderinterpretations thereof, any intergovernmental agreement entered into in connection therewithfiscal or regulatory legislation, any similar law rules or regulation practices adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States States, with respect to any of the foregoing, foregoing or any agreements entered into pursuant to section Section 1471(b)(1) of the Code (any such Tax, FATCA WithholdingFATCA);) and/or the UK’s International Tax Compliance Regulations 2015; or (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within extent that such Taxes would not have been so imposed, levied or assessed but for the meaning existence of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if some connection between such Holder or beneficial owner is an estateof such Note and the Taxing Jurisdiction imposing such Taxes (including, a trustfor the avoidance of doubt, a partnership the direct or a corporation) as a personal indirect affiliation through share capital, control, profit entitlement or management with the Issuer or any Guarantor or rights to acquire such affiliation), other than the mere holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, enforcement of such Note or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason receipt of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantorpayments thereunder; or (m3) to the extent that such Taxes would not have been so imposed, levied or assessed but for the failure of the Holders or beneficial owners of such Note to comply with a reasonable written request by the Issuer (or its agent) to make a valid declaration of non-residence or any other claim or filing for relief or exemption (or to assist in the completion of any such claim or filing) to which it is entitled (but only to the extent it is legally entitled to do so); or (4) that presents such Note for payment (where presentation is required) more than 30 days after the date on account which such payment became due and payable or the date on which payment of the Note is duly provided for and notice is given to Holders, whichever occurs later, except to the extent that the Holder or beneficial owner of such Note would have been entitled to such Additional Amounts on presenting such Note on any date during such 30-day period; or (5) in the case of a payment made by or on behalf of the Issuer or any Guarantor organized under the laws of the United States, any state thereof or the District of Columbia, with respect to any United States withholding taxes, so long as such withholding taxes are summarized in the prospectus supplement with respect to the Notes, dated December 15, 2025, in the discussion under the caption “Certain Material Income Tax Consequences—United States Taxation” or the Issuer or such Guarantor (pursuant to Section 1.06 of the Original Indenture) provides reasonable notice regarding potential United States withholding taxes and requests Holders and beneficial owners to provide applicable U.S. tax forms; or (6) any combination of the above. The Company or As used herein and for purposes of the Indenture and the Notes, any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld reference to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment principal of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date and interest on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premiumRedemption Price, if any), shall be deemed to include a reference to any related Additional Amounts payable in respect of such amounts. The Issuer will also pay any stamp, registration, excise or property taxes and any other similar levies (bincluding any interest and penalties related thereto) purchase prices in connection with a purchase imposed by any Taxing Jurisdiction on the execution, delivery, registration or enforcement of any of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable or instrument referred to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)therein. The foregoing obligations of the Company or any Guarantor described in this Section 4.21 1.09 will survive any termination, defeasance or satisfaction and discharge of this the Indenture and will apply mutatis mutandis to any successor of the Issuer or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinGuarantor.

Appears in 1 contract

Sources: Ninth Supplemental Indenture (Willis Towers Watson PLC)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (hereinafter “Taxes”), ) unless the Company withholding or any Guarantor (or any Paying Agent) deduction of such Taxes is then required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of the government of the Republic of ▇▇▇▇▇▇▇▇ Islands or any political subdivision or any authority or agency therein or thereof having power to tax, or any other jurisdiction in which the Company or any Guarantor (including any successor entitiesentity) is then organized or is otherwise resident for Tax purposes or any political subdivision thereof or therein tax purposes, or any jurisdiction by from or through which payment is made (eachincluding, without limitation, the jurisdiction of each paying agent) (each a “Relevant Taxing Specified Tax Jurisdiction”) ), will at any time be required to be made from any payment payments made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received in respect of such payments by such a Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted; provided, provided however, that no the foregoing obligation to pay Additional Amounts will be payable with respect to any Notedoes not apply to: (ai) surrendered by any Taxes that would not have been so imposed but for the Holder or the beneficial owner thereof of the Notes having any present or former connection with the Specified Tax Jurisdiction (other than the mere acquisition, ownership, holding, enforcement or receipt of payment in respect of the Notes); (ii) any estate, inheritance, gift, sales, excise, transfer, personal property tax or similar tax, assessment or governmental charge; (iii) any Taxes payable other than by deduction or withholding from payments under, or with respect to, the Notes; (iv) any Taxes imposed as a result of the failure of the Holder or beneficial owner of the Notes to complete, execute and deliver to the Company any form or document to the extent applicable to such Holder or beneficial owner that may be required by law or by reason of administration of such law and which is reasonably requested in writing to be delivered to the Company in order to enable the Company to make payments on the Notes without deduction or withholding for Taxes, or with deduction or withholding of a lesser amount, which form or document will be delivered within 60 days of a written request therefor by the Company; (v) any Taxes that would not have been so imposed but for the beneficiary of the payment having presented a Note for payment of principal (in cases in which presentation is required) more than 30 days after the later of (1) the date on which such payment first or such Note became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on whichwhich payment thereof is duly provided for, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, whichever is later (except to the extent that the Holder would have been entitled to such Additional Amounts had the Note been presented on surrendering the last day of such Note for payment on any day during the applicable 30-day period); (bvi) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction imposed on or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any the Holder who if such Holder is a fiduciary or partnership or Person other than the sole beneficial owner of such payment payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such partnership or the beneficial owner of such payment would not have been entitled to any Additional Amounts had such beneficiary or settlor beneficiary, settlor, member or beneficial owner been the Holderactual Holder of such Note; (hvii) on account of any Tax Taxes that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is are required to be made by reason of that deducted or withheld on a payment being (x) paid pursuant to a bank account opened in a financial institution established inEuropean Council Directive 2003/48/EC or any law implementing, or (y) paid or accrued introduced in order to a person established or domiciled inconform to, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantordirective; or (mviii) on account of any combination of the items (i) through (vii) above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts . (to the extent received from the relevant tax authorities in the usual course or as generally providedb) evidencing that such payment has been made by If the Company or any Guarantor. The Trustee becomes aware that it will make such evidence available be obligated to the Holders upon request. At least 30 days prior pay Additional Amounts with respect to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payableNotes, if the Company or any Guarantor becomes obligated will deliver to pay Additional Amounts with respect the Trustee and Paying Agent at least 30 days prior to such the date of that payment (unless such the obligation to pay Additional Amounts arises after the 30th day prior to the date on which that payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each notify the Trustee and Paying Agent in writing promptly thereafter but in no event later than five calendar days prior to the date of payment) an Officers’ Certificate stating the fact that such Additional Amounts will be payable, payable and the amount so payable and will payable. The Officers’ Certificate shall also set forth such any other information as necessary to enable such the Paying Agent to pay such Additional Amounts to Holders on the relevant payment date. The Trustee and Paying Agent will be entitled to rely solely on such Officers’ Certificate as conclusive proof that such payments are necessary. The Company will provide the Trustee and Paying Agent with documentation evidencing the payment of Additional Amounts. (c) The Company will make all withholdings and deductions required by law and will remit the full amount deducted or withheld to the relevant governmental authority on a timely basis in accordance with applicable law. As soon as practicable, the Company will provide the Trustee and Paying Agent with an official receipt or, if official receipts are not obtainable, other documentation evidencing the payment of the Taxes so withheld or deducted. Upon written request, copies of those receipts or other documentation, as the case may be, will be made available by the Trustee and Paying Agent to the Holders of the Notes on the payment date. Notes. (d) Whenever in the Indenture or this Fourth Supplemental Indenture there is mentionedreferenced, in any context, (a) the payment of amounts based upon the principal (and premium, if any), (b) purchase prices in connection with a purchase amount of the NotesNotes or of principal, (c) interest or (d) any other amount payable on under, or with respect to any of to, the Notes or the Note GuaranteesNotes, such mention is reference will be deemed to include mention of the payment of Additional Amounts provided for in as described under this section heading to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. . (e) The Company will indemnify a Holder, within 10 Business Days after written demand therefor, for the full amount of any Taxes paid by such Holder to a governmental authority of a Specified Tax Jurisdiction, on or with respect to any payment by on or account of any obligation of the Company to withhold or deduct an amount on account of Taxes for which the Company would have been obligated to pay Additional Amounts hereunder and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant governmental authority. A certificate as to the amount of such payment or liability delivered to the Company by a Guarantor, as the case may be, Holder will be conclusive absent manifest error. (f) The Company will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Specified Tax Jurisdiction from the initial issue execution, delivery, enforcement or registration of the Notes Notes, the Indenture or on any other document or instrument in relation thereof, or the enforcement receipt of any payments with respect to the Notes, any Note Guarantee, and the Indenture or any other document related thereto (limited, in case of Taxes attributable to Company will indemnify the receipt of payments thereto, to Holders for any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer taxes paid by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinHolders.

Appears in 1 contract

Sources: Fourth Supplemental Indenture (Scorpio Tankers Inc.)

Additional Amounts. All payments made (a) The Company hereby agrees that any amounts to be paid by or on behalf of the Company or any Guarantor under or with respect to the Notes each Security shall be paid without deduction or the Note Guarantees will be made free withholding for any and clear of all present and without withholding or deduction for or on account of any present or future taxtaxes, dutylevies, levy, impost, assessment imposts or other governmental charge charges whatsoever imposed, assessed, levied or collected by or for the account of (including without limitationi)(x) the Republic of Panama or any political subdivision or taxing authority thereof or (y) the jurisdiction of incorporation (other than the United States or any political subdivision or taxing authority thereof) of a successor entity to the Company pursuant to Section 8.1, penaltiesto the extent that such taxes, interest and levies, imposts or other governmental charges first become applicable as a result of such successor entity becoming the obligor on the Securities, or (ii) any other liability with respect theretojurisdiction (other than the United States or any political subdivision or taxing authority thereof) from or through which any amount is paid by the Company hereunder or where it is resident or maintains a place of business or permanent establishment (each jurisdiction described in Clauses (i) and (ii) above is referred to herein as a “Taxing Jurisdiction” and such taxes, levies, imposts or other governmental charges are referred to as “Taxes”), unless the Company withholding or deduction of such Tax is compelled by laws of the Republic of Panama or any Guarantor other applicable Taxing Jurisdiction. If any deduction or withholding of any Taxes (other than Excluded Taxes, as defined below) is ever required by the Republic of Panama or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant other Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company shall (subject to compliance by the Holder or beneficial owner of each Security with any such Guarantor will applicable administrative requirements) pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that required to make the net amount received by amounts paid to each Holder of such Security or the Trustee pursuant to the terms of this Indenture or the Securities, after such deduction or withholding, equal to the amounts of principal, premium, if any, interest, if any, and sinking fund or analogous payments, if any, to which such Holder (including or the Additional Amounts) after such withholding or deduction will Trustee is entitled. However, the Company shall not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no required to pay Additional Amounts will be payable with in respect to any Note:of the following Taxes (“Excluded Taxes”): (a1) surrendered by any present or future Taxes imposed, assessed, levied or collected as a result of the Holder or the beneficial owner thereof of a Security (i) being organized under the laws of, or otherwise being or having been a domiciliary, national or resident of, (ii) being engaged or having been engaged in a trade or business in, (iii) having or having had its principal office located in, (iv) maintaining or having maintained a permanent establishment in, (v) being or having been physically present in, or (vi) otherwise having or having had some connection (other than the connection arising solely from holding or owning such Security, or collecting principal and interest, if any, on, or the enforcement of, such Security) with the Republic of Panama or any other applicable Taxing Jurisdiction; (2) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for payment of principal the fact that, where presentation is required, the relevant Security was presented more than 30 thirty days after the later date the relevant payment is first made available for payment to the Holder or beneficial owner; (3) any present or future Taxes imposed pursuant to current Section 1471 through 1474 of the Internal Revenue Code of 1986, as amended (1the “Code”) or any amended or successor version that is substantively comparable and not materially more onerous to comply with, any regulations promulgated thereunder, any official interpretations thereof, any intergovernmental agreement between a non-U.S. jurisdiction and the date on which such United States (or any related law or administrative practices or procedures) implementing the foregoing or any agreements entered into pursuant to current Section 1471(b)(1) of the Code (or any amended or successor version described above); (4) any present or future Taxes payable other than by deduction or withholding from payments under, or with respect to, any Security; (5) any present or future Taxes imposed in connection with a Security presented for payment first became due and (2where presentation is permitted or required for payment) if the full amount payable has not been received by or on behalf of the relevant a Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed Security to the extent such Holder Taxes could have been avoided by presenting the relevant Security to, or beneficial owner otherwise accepting payment from, another Paying Agent; (6) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for the failure to provide informationmake any certification, documents identification or other evidence report concerning the nationality, residence, identity or connection with the Relevant Republic of Panama or any other applicable Taxing Jurisdiction of such the Holder or beneficial owner which is required of such Security or imposed by claim for relief or exemption, if making such a statutecertification, treatyidentification, regulation other report or administrative practice claim is, under the laws, rules or regulations of the Relevant Taxing Jurisdiction as any such jurisdiction, a precondition condition to relief or exemption from all or part of such tax, assessment or governmental charge;Taxes; (c7) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment Tax or other governmental charge;duty; or (e8) any combination of Clauses (1) except in the case of the winding up of the Company or any Guarantorthrough (7) above; provided further, if that no such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are Additional Amounts shall be payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to Security held by (x) any Holder who or beneficial owner that is a fiduciary or partnership or other than not the sole beneficial owner of such payment Security, or that is a fiduciary, partnership, limited liability company or other fiscally transparent entity, but only to the extent that a beneficiary or settlor with respect to the fiduciary or a beneficial owner owner, partner or member of the partnership, limited liability company or other fiscally transparent entity, would not have been entitled to any such Additional Amounts had such beneficiary the beneficiary, settlor, beneficial owner, partner or settlor or beneficial owner member been the Holder; direct holder of such Security, (hy) on account of any Tax Holder that is imposed pursuant to sections 1471 through 1474 not a resident of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any the extent that, had such Holder been a resident of the foregoingUnited States and eligible (taking into account any applicable limitation on benefits article or similar provision) for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security, such Holder would not have been entitled to such Additional Amounts, or (z) any agreements entered into pursuant to section 1471(b)(1) Holder that is a resident of the Code United States but that is not eligible for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security (but only to the extent the amount of such deduction or withholding exceeds that which would have been required had such Holder of a Security been so eligible and made all relevant claims). The Company or any such Taxsuccessor to the Company, “FATCA Withholding”); as the case may be, agrees to indemnify and hold harmless each Holder of a Security and upon written request reimburse each Holder for the amount of (i) on account any Taxes levied or imposed and paid by such Holder of any U.S. federal withholding Taxes imposed a Security (other than Excluded Taxes) as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled payments made with respect to votesuch Security, (2ii) such Holder’s any liability (including penalties, interest and expenses) arising therefrom with respect thereto, and (iii) any Taxes (other than Excluded Taxes) with respect to payment of Additional Amounts or beneficial owner’s being a bank receiving such interest any reimbursement pursuant to a loan agreement entered into this sentence, in each case, to the ordinary course extent not otherwise reimbursed by the payment of its trade or business any Additional Amount and not excluded from the requirement to pay Additional Amounts, as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will successor to the Company, as the case may be, shall also (i) make such withholding or deduction to the extent required by applicable law and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishor any successor to the Company, as the case may be, shall furnish the Trustee within 60 30 days after the date the payment of any such Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts (to evidencing the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available successor to the Holders upon requestCompany, as the case may be, or other evidence of such payment reasonably satisfactory to the Trustee. It is understood, however, that the Trustee is under no obligation to request such certified copies of tax receipts evidencing the payment. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees Securities is due and payable, if the Company or any Guarantor becomes will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)those payments, the Company will shall deliver to each Paying Agent the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and stating the amount so amounts that will be payable and will set setting forth such any other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes Securities on the payment date. Whenever in this Indenture or any Security there is mentioned, in any context, (a) the payment of principal (and the principal, premium, if any), (b) purchase prices or interest, or sinking fund or analogous payment, if any, in connection with a purchase respect of the Notes, (c) such Security or overdue principal or overdue interest or (d) any other amount payable on overdue sinking fund or with respect to any of the Notes or the Note Guaranteesanalogous payment, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section herein to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as thereof pursuant to the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic provisions of France or this Section and express mention thereof in any jurisdiction provisions hereof shall not be construed as excluding Additional Amounts in which a Paying Agent those provisions hereof where such express mention is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto not made (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveif applicable). The obligations of the Company or (and any Guarantor described in successor entity to the Company pursuant to Section 8.1) under this Section 4.21 will 10.5 shall survive any termination, defeasance or satisfaction and discharge the termination of this Indenture and the payment of all amounts under or with respect to the Securities. (b) Each Holder of a Security, by acceptance of such Security, agrees that, with reasonable promptness after receiving written notice from the Company to the effect that such ▇▇▇▇▇▇ is eligible for a refund in respect of Taxes actually paid by the Company pursuant to this Section 10.5, such Holder will sign and deliver, as reasonably directed by the Company, any transfer form provided to such Holder by the Company to enable such Holder to obtain a holder or beneficial owner refund in respect of its notessuch Taxes; and if such Holder thereafter receives such refund in respect of such Taxes, and such Holder will apply, mutatis mutandis, to any jurisdiction in which any successor Person promptly pay such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority). If a Holder applies for a refund of such Taxes prior to a request by the Company to apply for such a refund, the Holder will, upon receipt of a request by the Company to apply for, or to turn over the proceeds of, any Guarantor is incorporatedsuch refund, engaged pay any such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority), promptly upon receipt of such refund. The Company shall pay all reasonable out-of-pocket expenses incurred by a Holder in business for tax purposes or resident for tax purposes or any jurisdiction from or through which connection with obtaining such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinrefund.

Appears in 1 contract

Sources: Indenture (Carnival PLC)

Additional Amounts. All payments made by or on behalf of the Company Issuers or any Guarantor under or any successor in interest to any of the foregoing (each, a “Payor”) on or with respect to the Notes or the Note Guarantees any Guarantee will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other similar governmental charge (including without limitationcollectively, penalties, interest and any other liability with respect thereto) (“Taxes”), ) unless the Company such withholding or any Guarantor (or any Paying Agent) deduction is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of of: (a) any jurisdiction in which (other than the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes United States or any political subdivision or governmental authority thereof or therein or any jurisdiction by having power to tax) from or through which payment on the Notes or any Guarantee is made by such Payor, or any political subdivision or governmental authority thereof or therein having the power to tax; or (eachb) any other jurisdiction (other than the United States or any political subdivision or governmental authority thereof or therein having power to tax) in which a Payor that actually makes a payment on the Notes or its Guarantee is organized or otherwise considered to be a resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax (each of clauses (a) and (b), a “Relevant Taxing Jurisdiction”) ), will at any time be required from any payment payments made under or with respect to the Notes or the Note Guaranteesany Guarantee, including payments of principal, redemption price, interest or premium, if any, the Company or any such Guarantor Payor will pay to each Holder of the Notes that are outstanding on the date of the required payment, (together with such payments) such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount amounts received in respect of such payments by such Holder (including the Additional Amounts) Holders or the Trustee, as the case may be, after such withholding or deduction (including any such deduction or withholding from such Additional Amounts), will not be less than the amount such Holder amounts that would have been received if in respect of such Taxes had not been withheld payments on the Notes or deductedthe Guarantees in the absence of such withholding or deduction; provided, provided however, that no such Additional Amounts will be payable with respect to any Notefor or on account of: (ai) surrendered by any Taxes that would not have been so imposed or levied but for the Holder existence of any present or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of former connection between the relevant Holder (or the beneficial owner on between a fiduciary, settlor, beneficiary, partner, member or prior to such due dateshareholder of, or possessor of power over, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder orrelevant noteholder, if differentsuch noteholder is an estate, the beneficial owner of the Note with a request addressed to such Holder nominee, trust, partnership, limited liability company or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with corporation) and the Relevant Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Relevant Taxing Jurisdiction) but excluding, in each case, any connection arising solely from the acquisition, ownership or holding of such Notes or the receipt of any payment in respect thereof; (ii) any Taxes that would not have been so imposed or levied if the Holder of the Note had complied with a reasonable request in writing of the Payor (such request being made at a time that would enable such Holder acting reasonably to comply with that request) to make a declaration of nonresidence or beneficial owner any other claim or filing or satisfy any certification, identification, information or reporting requirement for exemption from, or reduction in the rate of, withholding to which it is entitled (provided that such declaration of nonresidence or other claim, filing or requirement is required or imposed by a statutethe applicable law, treaty, regulation or official administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from the requirement to deduct or withhold all or a part of any such tax, assessment or governmental chargeTaxes); (ciii) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to on the Notes or Note Guaranteesany Guarantee; (giv) any estate, inheritance, gift, sales, excise, transfer, personal property or similar Taxes; (v) any Taxes that are required to be deducted or withheld on a payment pursuant to the Directive or any law implementing, or introduced in order to conform to, the Directive; (vi) any Taxes imposed in connection with respect to any a Note presented for payment made by or on behalf of a Holder or beneficial owner who would have been able to avoid such Tax by presenting the Company relevant Note to, or otherwise accepting payment from, another paying agent in a member state of the European Union; (vii) any Taxes payable under Sections 1471 through 1474 of the Code, as of the date of this Offering Memorandum (or any Guarantor in respect of amended or successor version that is substantively comparable and not materially more onerous to comply with), any Note current or Note Guarantee to future regulations or official interpretations thereof, any Holder who is a fiduciary or partnership agreements (including any intergovernmental agreements) entered into pursuant thereto, and any intergovernmental agreements implementing the foregoing (including any legislation or other than official guidance relating to such intergovernmental agreements) (“FATCA”); or (viii) any combination of the sole above. Such Additional Amounts will also not be payable (x) if the payment could have been made without such deduction or withholding if the beneficiary of the payment had presented the Note for payment (where presentation is required) within 30 days after the relevant payment was first made available for payment to the Holder or (y) where, had the beneficial owner of the Note been the Holder of the Note, such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any payment of Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account by reason of any Tax that is imposed pursuant of clauses (1) to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); 8) inclusive above. The Payor will (i) on account of make any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant taxing authority in accordance with applicable law. The Company Payor will furnish, within 60 days after the date use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes is due pursuant to applicable law, so deducted or withheld from each relevant taxing authority imposing such Taxes and will provide such certified copies to the Trustee. If, copies notwithstanding the efforts of tax such Payor to obtain such receipts, the same are not obtainable, such Payor will provide the Trustee with other reasonable evidence. Such receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been other evidence will be made available by the Company Trustee to Holders upon written request. If any Payor will be obligated to pay Additional Amounts under or with respect to any payment made on the Notes or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At Guarantee, then, at least 30 days prior to each the date on which any payment under or with respect of such payment, the Payor will deliver to the Notes or Trustee and the Note Guarantees is due Paying Agent an Officer’s Certificate stating the fact that Additional Amounts will be payable and payable, if the Company or any Guarantor becomes obligated amount so payable and such other information necessary to enable the Paying Agent to pay Additional Amounts with respect to such Holders on the relevant payment date (unless such obligation to pay Additional Amounts arises after the 30th day less than 45 days prior to the date on which relevant payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter the Payor shall deliver such Officer’s Certificate and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary promptly as practicable after the date that is 30 days prior to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date, but no less than five Business Days prior thereto, and otherwise in accordance with the requirements of DTC). Whenever Wherever in this Indenture Indenture, the Notes or any Guarantee there is mentionedmention of, in any context, : (a1) the payment of principal principal; (and premium, if any), (b2) redemption prices or purchase prices in connection with a redemption or purchase of the Notes, ; (c3) interest or interest; or (d4) any other amount payable on or with respect to any of the Notes or the Note Guarantees, any Guarantee; such mention is reference shall be deemed to include mention of the payment of Additional Amounts provided for in as described under this section heading to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, Payor will pay any present or future stamp, court or documentary taxes Taxes, or any other excise or excise, property taxes, charges or similar levies Taxes that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Relevant Taxing Jurisdiction from the execution, delivery, issuance, initial issue resale, registration or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the this Indenture or any other document related or instrument in relation thereto (limited, in case other than a transfer of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveNotes other than the initial resale thereof). The foregoing obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company a Payor is organized or any Guarantor is incorporated, engaged in business for tax purposes or otherwise considered to be a resident for tax Tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision or taxing authority or agency thereof or therein.

Appears in 1 contract

Sources: Indenture (Axalta Coating Systems Ltd.)

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Subsidiary Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impostinterest, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”) imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities), is then organized or resident for tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law under the laws of the Relevant Taxing Jurisdiction or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Subsidiary Guarantees, the Company or any such Guarantor (and each Paying Agent) will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any the last day during of the applicable 30-day period; (b) if any Taxtax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner (ayant-droit) of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Subsidiary Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Taxtax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such any Note is surrendered for payment in the Republic of France; (f) any withholding or deduction imposed on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to an individual which is required to be made pursuant to any law implementing or complying with, or introduced in order to conform to European Council Directive 2003/48/EC or any other Directive implementing the Notes conclusions of the ECOFIN Council meeting of 26–27 November 2000 on the taxation of savings income or Note Guaranteesany agreement between the European Community and any jurisdiction providing for equivalent measures; (g) as a result of any combination of (a), (b), (c), (d), (e) or (f) or with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Subsidiary Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder;; or (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is imposed or levied on a payment to a Luxembourg resident individual and is required to be made by reason pursuant to the Luxembourg law of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above23 December 2005. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Subsidiary Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)payment, the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Subsidiary Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture Notes or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)Subsidiary Guarantee. The obligations of the Company or any Guarantor described in this Section 4.21 4.19 will survive any termination, defeasance or the satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinIndenture.

Appears in 1 contract

Sources: Indenture (CGG Veritas)

Additional Amounts. All (a) The Company and any Guarantor are required to make all payments made by under this Indenture or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (hereinafter “Taxes”) imposed or levied by or on behalf of the government of the country in which the Company or Guarantor and any successor thereof is organized or incorporated or any political subdivision or any authority or agency therein or thereof having power to tax, or any other jurisdiction in which the Company or any Guarantor is otherwise resident for tax purposes or the jurisdiction of any Paying Agent (each, a “Relevant Taxing Jurisdiction”), unless the Company or any a Guarantor (or any Paying Agent) Agent is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. thereof. (b) If the Company Company, or any Guarantor (Guarantor, or any a Paying Agent) Agent is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a Relevant Taxing Jurisdiction”) Jurisdiction from any payment made under or with respect to the Notes or the Note GuaranteesNotes, the Company or any such Guarantor will be required to pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) with respect to the Notes as may be necessary so that the net amount received by such any Holder or beneficial owner (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder or beneficial owner would have received if such Taxes had not been withheld or deducted; provided, provided however, that no the foregoing obligation to pay Additional Amounts will be payable with respect to any Notedoes not apply to: (ai) surrendered by any Taxes that would not have been so imposed but for the Holder existence of any present or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of former connection between the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with and the Relevant Taxing Jurisdiction (including a connection between a fiduciary, settlor, beneficiary, partner, member or shareholder of, or possessor of such Holder power over, the relevant holder or beneficial owner, if the relevant holder or beneficial owner which is required an estate, nominee, trust, partnership or imposed by a statutecorporation, treaty, regulation or administrative practice of and the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (cJurisdiction) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitationlimiting the generality of the foregoing, such Holder or beneficial owner (or such fiduciary, settlor, beneficiary, partner, member, shareholder, or possessor) of the Notes being or having been a citizen citizen, resident, or resident national thereof or being or having been present or engaged in a trade or business therein or having or having had a permanent establishment therein; (dii) on account of any estate, inheritance, gift, salesales, transfer, transfer or personal property tax or other similar Tax, assessment or other governmental chargeTaxes; (eiii) except any withholding or deduction in the case respect of the winding up Notes (a) presented for payment by or on behalf of a Holder or beneficial owner who would have been able to avoid such withholding or deduction by presenting the relevant note to any other paying agent, or (b) where the payment could have been made without such deduction or withholding if the beneficiary of the Company or any Guarantor, if such Note is surrendered payment had presented the notes for payment in within 30 days after the Republic date on which such payment on the notes became due and payable or the date on which payment thereof is duly provided for, whichever is later (except to the extent that the holder or beneficial owner would have been entitled to Additional Amounts had the notes been presented on the last day of Francesuch 30-day period); (fiv) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) imposed with respect to any payment made of principal (or premium, if any) or interest on the Notes by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder or beneficial owner who is a fiduciary or partnership or any Person other than the sole beneficial owner of such payment payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such a partnership or the beneficial owner of such payment would not have been entitled to any the Additional Amounts had such beneficiary or settlor beneficiary, settlor, member or beneficial owner been the Holderactual Holder or beneficial owner of such Notes; (hv) any Taxes that are payable other than by deduction or withholding from payments made under or with respect to the Notes; (vi) any Taxes that would not have been imposed but for the failure of the Holder and/or beneficial owner (a) to comply with the Company’s or the Paying Agent’s request in writing at least 30 days before any withholding for such Taxes to the Holder to provide certification, documentation, information or other evidence concerning the nationality, residence, entitlement to treaty benefits, identity, direct or indirect ownership of or investment in the Notes, or connection with the Relevant Taxing Jurisdiction of the Holder and/or beneficial owner of such Notes, or (b) to make any valid or timely declaration or similar claim or satisfy any other reporting requirement or to provide any information relating to such matters, whether required or imposed by statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction, as a precondition to exemption from, or reduction in the rate of withholding or deduction of, Taxes imposed by the Relevant Taxing Jurisdiction; (vii) any Taxes that are required to be deducted or withheld from any payment under or in respect of the Notes as a consequence of the Holder or beneficial owner of Notes or the recipient of the interest payable on account the Notes not dealing at arm’s length (within the meaning of the Income Tax Act (Canada)) with the Company or any Guarantor at the time of making any such payment; (viii) any Taxes that are required to be deducted or withheld from any payment under or in respect of the Notes as a consequence of the Holder or beneficial owner of the Notes being at any time a ‘‘specified non-resident shareholder’’ (within the meaning of subsection 18(5) of the Income Tax that is imposed pursuant Act (Canada)) of the Company or at any time not dealing at arm’s length (within the meaning of the Income Tax Act (Canada)) with a “specified shareholder” (within the meaning of subsection 18(5) of the Income Tax Act (Canada)) of the Company or as a consequence of the payment being deemed to sections be a dividend under the Income Tax Act (Canada); (ix) any Taxes payable under section 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”or any successor or amended versions thereof), any regulations or other official guidance thereunder, or any agreement (including any intergovernmental agreement or any law implementing such governmental agreement) entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code therewith (any such Tax, FATCA WithholdingFATCA”); (ix) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) penalties arising from the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of comply with the Holder’s or beneficial owner’s past or present status obligations imposed under Part XVIII of the Income Tax Act (Canada), the Canada-United States Enhanced Tax Information Exchange Agreement Implementation Act (Canada) or the past or present status similar provisions of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor legislation of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is any other jurisdiction that has entered into an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for agreement with the United States federal income tax purposes, or as a corporation that accumulates earnings of America to avoid U.S. federal income tax; (k) when such withholding or deduction provide for French taxes is required to be made by reason the implementation of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any GuarantorFATCA based reporting; or (mxi) on account of any combination of, or any Taxes arising from a combination of the factors described in, (i) to (x) above. The . (c) At least 30 calendar days prior to each date on which any payment under or with respect to the Notes is due and payable (unless such obligation to pay Additional Amounts arises shortly before or after the 30th day prior to such date, in which case it shall be promptly thereafter), if the Company or any Guarantor will be obligated to pay Additional Amounts with respect to such payment, the Company will deliver to the U.S. Trustee and paying agent for the affected Notes an Officers’ Certificate stating the fact that such Additional Amounts will be payable and the amounts so payable and will set forth such other information necessary to enable the U.S. Trustee or paying agent, as the case may be, to pay such Additional Amounts to Holders and beneficial owners of such Notes on the payment date. Each such Officers’ Certificate shall be relied upon until receipt of a further Officers’ Certificate addressing such matters. (d) The Company or the applicable Guarantor will also (i) make such withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishprovide the U.S. Trustee with official receipts or, within 60 days after if notwithstanding the date efforts of the Company official receipts are not obtainable, other documentation reasonably satisfactory to the U.S. Trustee, evidencing the payment of any Taxes is due pursuant Tax so deducted or withheld for each Relevant Taxing Jurisdiction imposing such Taxes. The Company will attach to applicable law, to each official receipt or other documentation a certificate stating (x) that the Trustee, copies amount of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made Tax evidenced by the Company official receipt or any Guarantor. The Trustee will make other documentation was paid in connection with payments in respect of the principal amount of such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due then outstanding and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and y) the amount so payable and will set forth of such other information as necessary to enable Tax paid per $1,000 of principal amount of such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Notes. (e) Whenever reference is made in this Indenture there is mentionedIndenture, in any context, to (ai) the payment of principal (and premium, if any)principal, (bii) redemption prices or purchase prices in connection with a redemption or purchase of the Notes, (ciii) interest or (div) any other amount payable on or with respect to any of the Notes or the Note GuaranteesNotes, such mention is reference will be deemed to include mention of the payment of Additional Amounts provided for in as described under this section heading to the extent, extent that, in such context, Additional Amounts are, were are or would be payable in respect thereof. . (f) The Company or a Guarantor, as the case may be, will pay any present or future stamp, court court, documentary or documentary taxes or any other excise or property similar taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue execution, delivery or registration of the Notes of, or on the enforcement of any payments with respect to the Notesrights under, any Note Guarantee, the this Indenture or any other document related thereto document. (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (kg) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in under this Section 4.21 2.13 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department organized or any political subdivision or taxing authority or agency thereof or therein. (h) The Company and the Guarantors shall indemnify and hold harmless the Trustees for the amount of any Taxes in respect of which the Company, or any Guarantor, is required to pay Additional Amounts pursuant to Section 2.13(b) that are levied or imposed and paid by the Trustees as a result of payments made under or with respect to the Notes or any Subsidiary Guarantee, including any reimbursements under this clause 2.13(h).

Appears in 1 contract

Sources: Indenture (Open Text Corp)

Additional Amounts. All payments made (a) The Company hereby agrees that any amounts to be paid by or on behalf of the Company or any Guarantor under or with respect to the Notes each Security shall be paid without deduction or the Note Guarantees will be made free withholding for any and clear of all present and without withholding or deduction for or on account of any present or future taxtaxes, dutylevies, levy, impost, assessment imposts or other governmental charge charges whatsoever imposed, assessed, levied or collected by or for the account of (including without limitationi)(x) the Republic of Panama or any political subdivision or taxing authority thereof or (y) the jurisdiction of incorporation (other than the United States or any political subdivision or taxing authority thereof) of a successor entity to the Company pursuant to Section 8.1, penaltiesto the extent that such taxes, interest and levies, imposts or other governmental charges first become applicable as a result of such successor entity becoming the obligor on the Securities, or (ii) any other liability with respect theretojurisdiction (other than the United States or any political subdivision or taxing authority thereof) from or through which any amount is paid by the Company hereunder or where it is resident or maintains a place of business or permanent establishment (each jurisdiction described in Clauses (i) and (ii) above is referred to herein as a “Taxing Jurisdiction” and such taxes, levies, imposts or other governmental charges are referred to as “Taxes”), unless the Company withholding or deduction of such Tax is compelled by laws of the Republic of Panama or any Guarantor other applicable Taxing Jurisdiction. If any deduction or withholding of any Taxes (other than Excluded Taxes, as defined below) is ever required by the Republic of Panama or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant other Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company shall (subject to compliance by the Holder or beneficial owner of each Security with any such Guarantor will applicable administrative requirements) pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that required to make the net amount received by amounts paid to each Holder of such Security or the Trustee pursuant to the terms of this Indenture or the Securities, after such deduction or withholding, equal to the amounts of principal, premium, if any, interest, if any, and sinking fund or analogous payments, if any, to which such Holder (including or the Additional Amounts) after such withholding or deduction will Trustee is entitled. However, the Company shall not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no required to pay Additional Amounts will be payable with in respect to any Note:of the following Taxes (“Excluded Taxes”): (a1) surrendered by any present or future Taxes imposed, assessed, levied or collected as a result of the Holder or the beneficial owner thereof of a Security (i) being organized under the laws of, or otherwise being or having been a domiciliary, national or resident of, (ii) being engaged or having been engaged in a trade or business in, (iii) having or having had its principal office located in, (iv) maintaining or having maintained a permanent establishment in, (v) being or having been physically present in, or (vi) otherwise having or having had some connection (other than the connection arising solely from holding or owning such Security, or collecting principal and interest, if any, on, or the enforcement of, such Security) with the Republic of Panama or any other applicable Taxing Jurisdiction; (2) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for payment of principal the fact that, where presentation is required, the relevant Security was presented more than 30 thirty days after the later date relevant payment is first made available for payment to the Holder or beneficial owner; (3) any present or future Taxes imposed pursuant to current Section 1471 through 1474 of the Internal Revenue Code of 1986, as amended (1the “Code”) or any amended or successor version that is substantively comparable and not materially more onerous to comply with, any regulations promulgated thereunder, any official interpretations thereof, any intergovernmental agreement between a non-U.S. jurisdiction and the date on which such United States (or any related law or administrative practices or procedures) implementing the foregoing or any agreements entered into pursuant to current Section 1471(b)(1) of the Code (or any amended or successor version described above); (4) any present or future Taxes payable other than by deduction or withholding from payments under, or with respect to, any Security ; (5) any present or future Taxes imposed in connection with a Security presented for payment first became due and (2where presentation is permitted or required for payment) if the full amount payable has not been received by or on behalf of the relevant a Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed Security to the extent such Holder Taxes could have been avoided by presenting the relevant Security to, or beneficial owner otherwise accepting payment from, another Paying Agent; (6) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for the failure to provide informationmake any certification, documents identification or other evidence report concerning the nationality, residence, identity or connection with the Relevant Republic of Panama or any other applicable Taxing Jurisdiction of such the Holder or beneficial owner which is required of such Security or imposed by claim for relief or exemption, if making such a statutecertification, treatyidentification, regulation other report or administrative practice claim is, under the laws, rules or regulations of the Relevant Taxing Jurisdiction as any such jurisdiction, a precondition condition to relief or exemption from all or part of such tax, assessment or governmental charge;Taxes; (c7) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment Tax or other governmental charge;duty; or (e8) any combination of Clauses (1) except in the case of the winding up of the Company or any Guarantorthrough (7) above; provided further, if that no such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are Additional Amounts shall be payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to Security held by (x) any Holder who or beneficial owner that is a fiduciary or partnership or other than not the sole beneficial owner of such payment Security, or that is a fiduciary, partnership, limited liability company or other fiscally transparent entity, but only to the extent that a beneficiary or settlor with respect to the fiduciary or a beneficial owner owner, partner or member of the partnership, limited liability company or other fiscally transparent entity, would not have been entitled to any such Additional Amounts had such beneficiary the beneficiary, settlor, beneficial owner, partner or settlor or beneficial owner member been the Holder; direct holder of such Security, (hy) on account of any Tax Holder that is imposed pursuant to sections 1471 through 1474 not a resident of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any the extent that, had such Holder been a resident of the foregoingUnited States and eligible (taking into account any applicable limitation on benefits article or similar provision) for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security, such Holder would not have been entitled to such Additional Amounts, or (z) any agreements entered into pursuant to section 1471(b)(1) Holder that is a resident of the Code United States but that is not eligible for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security (but only to the extent the amount of such deduction or withholding exceeds that which would have been required had such Holder of a Security been so eligible and made all relevant claims). The Company or any such Taxsuccessor to the Company, “FATCA Withholding”); as the case may be, agrees to indemnify and hold harmless each Holder of a Security and upon written request reimburse each Holder for the amount of (i) on account any Taxes levied or imposed and paid by such Holder of any U.S. federal withholding Taxes imposed a Security (other than Excluded Taxes) as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled payments made with respect to votesuch Security, (2ii) such Holder’s any liability (including penalties, interest and expenses) arising therefrom with respect thereto, and (iii) any Taxes (other than Excluded Taxes) with respect to payment of Additional Amounts or beneficial owner’s being a bank receiving such interest any reimbursement pursuant to a loan agreement entered into this sentence, in each case, to the ordinary course extent not otherwise reimbursed by the payment of its trade or business any Additional Amount and not excluded from the requirement to pay Additional Amounts, as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will successor to the Company, as the case may be, shall also (i) make such withholding or deduction to the extent required by applicable law and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishor any successor to the Company, as the case may be, shall furnish the Trustee within 60 30 days after the date the payment of any such Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts (to evidencing the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available successor to the Holders upon requestCompany, as the case may be, or other evidence of such payment reasonably satisfactory to the Trustee. It is understood, however, that the Trustee is under no obligation to request such certified copies of tax receipts evidencing the payment. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees Securities is due and payable, if the Company or any Guarantor becomes will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)those payments, the Company will shall deliver to each Paying Agent the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and stating the amount so amounts that will be payable and will set setting forth such any other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes Securities on the payment date. Whenever in this Indenture or any Security there is mentioned, in any context, (a) the payment of principal (and the principal, premium, if any), (b) purchase prices or interest, or sinking fund or analogous payment, if any, in connection with a purchase respect of the Notes, (c) such Security or overdue principal or overdue interest or (d) any other amount payable on overdue sinking fund or with respect to any of the Notes or the Note Guaranteesanalogous payment, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section herein to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as thereof pursuant to the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic provisions of France or this Section and express mention thereof in any jurisdiction provisions hereof shall not be construed as excluding Additional Amounts in which a Paying Agent those provisions hereof where such express mention is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto not made (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveif applicable). The obligations of the Company or (and any Guarantor described in successor entity to the Company pursuant to Section 8.1) under this Section 4.21 will 10.5 shall survive any termination, defeasance or satisfaction and discharge the termination of this Indenture and the payment of all amounts under or with respect to the Securities. (b) Each Holder of a Security, by acceptance of such Security, agrees that, with reasonable promptness after receiving written notice from the Company to the effect that such ▇▇▇▇▇▇ is eligible for a refund in respect of Taxes actually paid by the Company pursuant to this Section 10.5, such Holder will sign and deliver, as reasonably directed by the Company, any transfer form provided to such Holder by the Company to enable such Holder to obtain a holder or beneficial owner refund in respect of its notessuch Taxes; and if such Holder thereafter receives such refund in respect of such Taxes, and such Holder will apply, mutatis mutandis, to any jurisdiction in which any successor Person promptly pay such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority). If a Holder applies for a refund of such Taxes prior to a request by the Company to apply for such a refund, the Holder will, upon receipt of a request by the Company to apply for, or to turn over the proceeds of, any Guarantor is incorporatedsuch refund, engaged pay any such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority), promptly upon receipt of such refund. The Company shall pay all reasonable out-of- pocket expenses incurred by a Holder in business for tax purposes or resident for tax purposes or any jurisdiction from or through which connection with obtaining such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinrefund.

Appears in 1 contract

Sources: Indenture (Carnival PLC)

Additional Amounts. (a) All payments made by or on behalf of the Company Issuer, the Co-Issuer or any Guarantor (a “Payor”) under or with respect to the Notes or the Note Guarantees will be made free and clear of of, and without deduction or withholding or deduction for or on account of of, any present or future taxtaxes, dutyduties, levy, impost, assessment assessments or other governmental charge charges of whatsoever nature imposed, levied, collected, withheld or assessed (including without limitationcollectively, penalties“Taxes” by the United States, interest and the Netherlands, any other liability with respect thereto) (“Taxes”)jurisdiction in which the Issuer, unless the Company Co-Issuer or any Guarantor (is then incorporated, organized, engaged in business for tax purposes, or resident for tax purposes, any Paying Agent) jurisdiction from or through which any such payment is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied made by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes Payor or any political subdivision or taxing authority thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”)), unless such deduction or withholding is required by law. (b) from any payment made In the event such deduction or withholding of Taxes is required with respect to payments under or with respect to the Notes or by law of any Relevant Taxing Jurisdiction, subject to the Note Guaranteeslimitations described below, the Company or any such Guarantor Payors will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the every net amount payment received by the beneficial owner of such Holder Note of principal of or interest or any other amount payable on the Notes (including the Additional Amounts) upon redemption), after deduction or withholding for or on account of such withholding or deduction Taxes, will not be less than the amount such Holder that would have been received if in respect of such Taxes had not been withheld payments in the absence of such deduction or deducted, provided that no withholding for or on account of such Taxes. Payment of Additional Amounts will shall be payable made in accordance with respect the procedures of any applicable securities depositary. However, the Payors’ obligation to any Notepay Additional Amounts shall not apply to: (ai) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of any Taxes that would not have been so imposed but for: (1A) the date on which such payment first became due and (2) if the full amount payable has not been received by existence of any present or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to former connection between such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of between a fiduciary, settlor, beneficiary, member member, partner or shareholder or other equity owner of, or possessor of a person having a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a nominee, a trust, a partnership limited liability company, a partnership, a corporation or other entity) and the Relevant Taxing Jurisdiction, including such Holder or beneficial owner (or such fiduciary, settlor, beneficiary, member, partner or shareholder or other equity owner or person having such a corporationpower) being or having been a citizen or resident or treated as a personal holding company, passive foreign investment company, resident of the Relevant Taxing Jurisdiction or controlled foreign corporation for United States federal income tax purposes, being or as having been engaged in a corporation that accumulates earnings to avoid U.S. federal income taxtrade or business in the Relevant Taxing Jurisdiction or having or having had a permanent establishment in the Relevant Taxing Jurisdiction; (kB) when the failure of such withholding Holder or deduction for French taxes beneficial owner to comply with a request to provide any certification, information or other reporting requirement, if compliance is required under tax laws and regulations of Relevant Taxing Jurisdiction to be made by reason of that payment being (x) paid establish entitlement to a bank account opened in a financial institution established inpartial or complete exemption from such Taxes (including, but not limited to, the requirement to provide an applicable Internal Revenue Service Form W-8 (with any required attachment), or (y) paid any subsequent version thereof or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôtssuccessor thereto); (lii) when such withholding or deduction for French taxes is required to be made any Taxes imposed by reason of the Holder or beneficial owner: (A) owning or having owned, directly or indirectly, actually or constructively, 10% or more of the total combined voting power of all classes of the Issuer’s stock, as described in section 871(h)(3) of the Internal Revenue Code, (B) being a bank receiving interest as described in section 881(c)(3)(A) of the Internal Revenue Code, or (C) being a controlled foreign corporation that is related to the Issuer or any Guarantor by stock ownership for U.S. federal income tax purposes; (iii) any Taxes that would not have been so imposed but for the presentation by the Holder or beneficial owner of such Note for payment on a date more than 30 days after the date on which such payment became due and payable or the date on which payment of the Note is duly provided for and notice is given to such Holders, whichever occurs later, except to the extent that such Holder or beneficial owner would have been entitled to such Additional Amounts on presenting such Note on any date during such 30-day period; (iv) any estate, inheritance, gift, sales, transfer, personal property, capital gains, wealth or similar Taxes; (v) any Taxes payable otherwise than by deduction or withholding from a payment on such Note or with respect to any note Guarantee; (vi) any Taxes payable by a Holder that is not the beneficial owner of the Note concurrently being Note, or that is a shareholder fiduciary, partnership, limited liability company or other similar entity, but, in each case, only to the extent that a beneficial owner, a beneficiary or settlor with respect to such fiduciary or member or partner of such partnership, limited liability company or similar entity would not have been entitled to the payment of an additional amount had such beneficial owner, beneficiary, settlor, member or partner received directly its beneficial or distributive share of the Company payment; (vii) any Taxes required to be withheld by any paying agent from any payment on any Note, if such payment can be made without such withholding by at least one other paying agent; (viii) any Taxes imposed under Sections 1471 through 1474 of the Internal Revenue Code (or any amended or successor provision that is substantively comparable), any current or future regulations or official interpretation thereof, any agreement entered into pursuant to Section 1471(b) of the Internal Revenue Code or any Guarantorfiscal or regulatory legislation, rule or practice adopted pursuant to any intergovernmental agreement, treaty or convention entered into in connection with the implementation of the foregoing; (ix) any Taxes imposed under or in connection with the 2021 Dutch Withholding Tax Act (Wet bronbelasting 2021) with respect to a Holder, or, where applicable, a beneficiary of the Notes that is an entity that is related (gelieerd) to the Issuer within the meaning of the 2021 Dutch Withholding Tax Act; or (mx) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (ki), (ii), (iii), (iv), (v), (vi), (vii), (viii) and (lix). (c) above)For purposes of this Section 2.14, the acquisition, ownership, enforcement, or holding of or the receipt of any payment with respect to a Note will not constitute a connection (x) between the Holder or beneficial owner and the United States or (y) between a fiduciary, settlor, beneficiary, member, partner or shareholder or other equity owner of, or a person having a power over, such Holder or beneficial owner if such Holder or beneficial owner is an estate, a trust, a limited liability company, a partnership, a corporation or other entity and the United States. (d) Any reference in this Indenture or in the Notes to principal or interest or other payment on the Notes shall be deemed to refer also to Additional Amounts that may be payable under the provisions of this Section 2.14. (e) Except as specifically provided under this Section 2.14, the Issuer will not be required to make any payment with respect to any tax, duty, assessment or other governmental charge imposed by any government or any political subdivision or taxing authority of or in the United States. The foregoing obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, indenture and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company a Payor is organized or any Guarantor is incorporated, engaged in business for tax purposes or otherwise considered to be a resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision or taxing authority or agency thereof or therein.

Appears in 1 contract

Sources: Indenture (Organon & Co.)

Additional Amounts. All payments made (a) The Company hereby agrees that any amounts to be paid by or on behalf of the Company or any Guarantor under or with respect to the Notes each Security shall be paid without deduction or the Note Guarantees will be made free withholding for any and clear of all present and without withholding or deduction for or on account of any present or future taxtaxes, dutylevies, levy, impost, assessment imposts or other governmental charge charges whatsoever imposed, assessed, levied or collected by or for the account of (including without limitationi)(x) the Republic of Panama or any political subdivision or taxing authority thereof or (y) the jurisdiction of incorporation (other than the United States or any political subdivision or taxing authority thereof) of a successor entity to the Company pursuant to Section 8.1, penaltiesto the extent that such taxes, interest and levies, imposts or other governmental charges first become applicable as a result of such successor entity becoming the obligor on the Securities, or (ii) any other liability with respect theretojurisdiction (other than the United States or any political subdivision or taxing authority thereof) from or through which any amount is paid by the Company hereunder or where it is resident or maintains a place of business or permanent establishment (each jurisdiction described in Clauses (i) and (ii) above is referred to herein as a “Taxing Jurisdiction” and such taxes, levies, imposts or other governmental charges are referred to as “Taxes”), unless the Company withholding or deduction of such Tax is compelled by laws of the Republic of Panama or any Guarantor other applicable Taxing Jurisdiction. If any deduction or withholding of any Taxes (other than Excluded Taxes, as defined below) is ever required by the Republic of Panama or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant other Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company shall (subject to compliance by the Holder or beneficial owner of each Security with any such Guarantor will applicable administrative requirements) pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that required to make the net amount received by amounts paid to each Holder of such Security or the Trustee pursuant to the terms of this Indenture or the Securities, after such deduction or withholding, equal to the amounts of principal, premium, if any, interest, if any, and sinking fund or analogous payments, if any, to which such Holder (including or the Additional Amounts) after such withholding or deduction will Trustee is entitled. However, the Company shall not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no required to pay Additional Amounts will be payable with in respect to any Note:of the following Taxes (“Excluded Taxes”): (a1) surrendered by any present or future Taxes imposed, assessed, levied or collected as a result of the Holder or the beneficial owner thereof of a Security (i) being organized under the laws of, or otherwise being or having been a domiciliary, national or resident of, (ii) being engaged or having been engaged in a trade or business in, (iii) having or having had its principal office located in, (iv) maintaining or having maintained a permanent establishment in, (v) being or having been physically present in, or (vi) otherwise having or having had some connection (other than the connection arising solely from holding or owning such Security, or collecting principal and interest, if any, on, or the enforcement of, such Security) with the Republic of Panama or any other applicable Taxing Jurisdiction; (2) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for payment of principal the fact that, where presentation is required, the relevant Security was presented more than 30 thirty days after the later date the relevant payment is first made available for payment to the Holder or beneficial owner; (3) any present or future Taxes imposed pursuant to current Section 1471 through 1474 of the Internal Revenue Code of 1986, as amended (1the “Code”) or any amended or successor version that is substantively comparable and not materially more onerous to comply with, any regulations promulgated thereunder, any official interpretations thereof, any intergovernmental agreement between a non-U.S. jurisdiction and the date on which such United States (or any related law or administrative practices or procedures) implementing the foregoing or any agreements entered into pursuant to current Section 1471(b)(1) of the Code (or any amended or successor version described above); (4) any present or future Taxes payable other than by deduction or withholding from payments under, or with respect to, any Security; (5) any present or future Taxes imposed in connection with a Security presented for payment first became due and (2where presentation is permitted or required for payment) if the full amount payable has not been received by or on behalf of the relevant a Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed Security to the extent such Holder Taxes could have been avoided by presenting the relevant Security to, or beneficial owner otherwise accepting payment from, another Paying Agent; (6) any present or future Taxes which would not have been so imposed, assessed, levied or collected but for the failure to provide informationmake any certification, documents identification or other evidence report concerning the nationality, residence, identity or connection with the Relevant Republic of Panama or any other applicable Taxing Jurisdiction of such the Holder or beneficial owner which is required of such Security or imposed by claim for relief or exemption, if making such a statutecertification, treatyidentification, regulation other report or administrative practice claim is, under the laws, rules or regulations of the Relevant Taxing Jurisdiction as any such jurisdiction, a precondition condition to relief or exemption from all or part of such tax, assessment or governmental charge;Taxes; (c7) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment Tax or other governmental charge;duty; or (e8) any combination of Clauses (1) except in the case of the winding up of the Company or any Guarantorthrough (7) above; provided further, if that no such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are Additional Amounts shall be payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to Security held by (x) any Holder who or beneficial owner that is a fiduciary or partnership or other than not the sole beneficial owner of such payment Security, or that is a fiduciary, partnership, limited liability company or other fiscally transparent entity, but only to the extent that a beneficiary or settlor with respect to the fiduciary or a beneficial owner owner, partner or member of the partnership, limited liability company or other fiscally transparent entity, would not have been entitled to any such Additional Amounts had such beneficiary the beneficiary, settlor, beneficial owner, partner or settlor or beneficial owner member been the Holder; direct holder of such Security, (hy) on account of any Tax Holder that is imposed pursuant to sections 1471 through 1474 not a resident of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any the extent that, had such Holder been a resident of the foregoingUnited States and eligible (taking into account any applicable limitation on benefits article or similar provision) for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security, such Holder would not have been entitled to such Additional Amounts, or (z) any agreements entered into pursuant to section 1471(b)(1) Holder that is a resident of the Code United States but that is not eligible for the benefit of any double taxation treaty between the United States and the applicable Taxing Jurisdiction in relation to payments of amounts due under this Indenture and any Security (but only to the extent the amount of such deduction or withholding exceeds that which would have been required had such Holder of a Security been so eligible and made all relevant claims). The Company or any such Taxsuccessor to the Company, “FATCA Withholding”); as the case may be, agrees to indemnify and hold harmless each Holder of a Security and upon written request reimburse each Holder for the amount of (i) on account any Taxes levied or imposed and paid by such Holder of any U.S. federal withholding Taxes imposed a Security (other than Excluded Taxes) as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled payments made with respect to votesuch Security, (2ii) such Holder’s any liability (including penalties, interest and expenses) arising therefrom with respect thereto, and (iii) any Taxes (other than Excluded Taxes) with respect to payment of Additional Amounts or beneficial owner’s being a bank receiving such interest any reimbursement pursuant to a loan agreement entered into this sentence, in each case, to the ordinary course extent not otherwise reimbursed by the payment of its trade or business any Additional Amount and not excluded from the requirement to pay Additional Amounts, as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will successor to the Company, as the case may be, shall also (i) make such withholding or deduction to the extent required by applicable law and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnishor any successor to the Company, as the case may be, shall furnish the Trustee within 60 30 days after the date the payment of any such Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts (to evidencing the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available successor to the Holders upon requestCompany, as the case may be, or other evidence of such payment reasonably satisfactory to the Trustee. It is understood, however, that the Trustee is under no obligation to request such certified copies of tax receipts evidencing the payment. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees Securities is due and payable, if the Company or any Guarantor becomes will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)those payments, the Company will shall deliver to each Paying Agent the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and stating the amount so amounts that will be payable and will set setting forth such any other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes Securities on the payment date. Whenever in this Indenture or any Security there is mentioned, in any context, (a) the payment of principal (and the principal, premium, if any), (b) purchase prices or interest, or sinking fund or analogous payment, if any, in connection with a purchase respect of the Notes, (c) such Security or overdue principal or overdue interest or (d) any other amount payable on overdue sinking fund or with respect to any of the Notes or the Note Guaranteesanalogous payment, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section herein to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as thereof pursuant to the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic provisions of France or this Section and express mention thereof in any jurisdiction provisions hereof shall not be construed as excluding Additional Amounts in which a Paying Agent those provisions hereof where such express mention is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto not made (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveif applicable). The obligations of the Company or (and any Guarantor described in successor entity to the Company pursuant to Section 8.1) under this Section 4.21 will 10.5 shall survive any termination, defeasance or satisfaction and discharge the termination of this Indenture and the payment of all amounts under or with respect to the Securities. (b) Each Holder of a Security, by acceptance of such Security, agrees that, with reasonable promptness after receiving written notice from the Company to the effect that such H▇▇▇▇▇ is eligible for a refund in respect of Taxes actually paid by the Company pursuant to this Section 10.5, such Holder will sign and deliver, as reasonably directed by the Company, any transfer form provided to such Holder by the Company to enable such Holder to obtain a holder or beneficial owner refund in respect of its notessuch Taxes; and if such Holder thereafter receives such refund in respect of such Taxes, and such Holder will apply, mutatis mutandis, to any jurisdiction in which any successor Person promptly pay such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority). If a Holder applies for a refund of such Taxes prior to a request by the Company to apply for such a refund, the Holder will, upon receipt of a request by the Company to apply for, or to turn over the proceeds of, any Guarantor is incorporatedsuch refund, engaged pay any such refund to the Company (together with interest, if any, received by such Holder from the relevant taxing authority), promptly upon receipt of such refund. The Company shall pay all reasonable out-of-pocket expenses incurred by a Holder in business for tax purposes or resident for tax purposes or any jurisdiction from or through which connection with obtaining such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinrefund.

Appears in 1 contract

Sources: Indenture (Carnival PLC)

Additional Amounts. (a) All payments made by or on behalf of that the Company Issuer or any Guarantor Surviving Entity make under or with respect to the Notes [2026 Notes][2031 Notes] and that the Guarantors make under or with respect to the Note Guarantees will shall be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge charges (including including, without limitation, penalties, interest and any other liability with respect similar liabilities related thereto) of whatever nature (collectively, “Taxes”) imposed or levied by or on behalf of any jurisdiction in which the Issuer, any Guarantor or any Surviving Entity is incorporated, organized or otherwise resident for tax purposes or from or through which any of the foregoing makes any payment on the [2026 Notes][2031 Notes] or by or within any department or political subdivision or governmental Authority of or in any of the foregoing having the power to tax (each, a “Relevant Taxing Jurisdiction”), unless the Company withholding or any Guarantor (or any Paying Agent) deduction is then required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authorityof law. If the Company Issuer, a Guarantor or any Guarantor (or any Paying Agent) Surviving Entity is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a Relevant Taxing Jurisdiction”) Jurisdiction from any payment made under or with respect to the Notes or the Note Guarantees[2026 Notes][2031 Notes], the Company Issuer, the Guarantor or any such Guarantor will Surviving Entity, as the case may be, shall pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so to ensure that the net amount received by such each Holder or beneficial owner (including the Additional Amounts) after such withholding or deduction will be not be less than the amount such the Holder or beneficial owner would have received if such Taxes had not been required to be withheld or deducted. (b) Notwithstanding the foregoing, provided that no none of the Issuer, the Guarantors or any Surviving Entity shall pay any Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period;Taxes are imposed, levied or withheld: (bi) if by a Relevant Taxing Jurisdiction by reason of the Holder’s or beneficial owner’s present or former connection with such Relevant Taxing Jurisdiction (other than the mere receipt or holding of Notes or by reason of the receipt of payments thereunder or the exercise or enforcement of rights under any TaxNotes, assessment the Indenture or other governmental charge is imposed or withheld any Guarantee); or (ii) by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner of Notes, following the Issuer’s written request addressed to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is or otherwise made available to the Holder or beneficial owner (and made at a time that would enable the Holder or beneficial owner acting reasonably to comply with that request) to comply with any certification, identification, information or other reporting requirements relating to such matters, whether required or imposed by a statute, treaty, regulation or administrative practice of the a Relevant Taxing Jurisdiction Jurisdiction, as a precondition to exemption from all from, or part reduction in the rate of such taxdeduction or withholding of, assessment or governmental charge; (c) held Taxes imposed by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, (including, without limitation, such a certification that the Holder or beneficial owner being or having been a citizen or is not resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein;the Relevant Taxing Jurisdiction). 3 NTD: To be August 12, 2021 for Original Notes. (dc) The Issuer’s and the Guarantors’ obligations to pay Additional Amounts in respect of Taxes shall not apply in respect or on account of of: (i) any estate, inheritance, gift, salesales, transfer, personal property or other similar Tax, assessment or other governmental chargeTaxes; (eii) except in the case of the winding up of the Company or any Guarantor, if such Note Tax which is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment payments made under or with respect to the Notes or Note Guarantees[2026 Notes][2031 Notes]; (giii) any Tax imposed on or with respect to any payment made by the Issuer or on behalf of a Guarantor to the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who if such Holder is a fiduciary or partnership or person other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner Taxes would not have been entitled to any Additional Amounts imposed on such payment had such beneficiary or settlor or Holder been the sole beneficial owner been the Holderof such Note; (hiv) on account of any Tax that is imposed pursuant on or levied by reason of the presentation (where presentation is required in order to sections receive payment) of such Notes for payment on a date more than 30 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever is later, except to the extent that the beneficial owner or Holder thereof would have been entitled to Additional Amounts had the [2026 Notes][2031 Notes] been presented for payment on any date during such 30 day period; (v) any Tax imposed under Sections 1471 through 1474 of the U.S. Internal Revenue Code as of 1986, as amended, the Issue Date (the “Code”or any amended or successor provision that is substantively comparable and not more onerous to comply with), any current or future regulations or other official guidance thereunderinterpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code as of the Issue Date (or any amended or successor provision that is substantively comparable and not materially more onerous to comply with), or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and with the United States with respect to any implementation of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) Sections of the Code; (jvi) any Tax that is imposed or levied on or with respect to a Note presented for or payment on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status behalf of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings who would have been able to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required by presenting the relevant Note to be made by reason of that payment being (x) paid to a bank account opened another Paying Agent in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A member state of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any GuarantorEuropean Union; or (mvii) on account any withholding or deduction in respect of any combination of Taxes imposed by the above. The Company United States or any Guarantor will also jurisdiction therein. (d) The Issuer, the Guarantors and any Surviving Entity shall (i) make such withholding or deduction of Taxes required by applicable law and (ii) remit the full amount of Taxes so deducted or withheld to the relevant authority taxing Authority in accordance with all applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts laws. (to the extent received from the relevant tax authorities in the usual course or as generally providede) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 calendar days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees [2026 Notes][2031 Notes] is due and payable, if the Company Issuer, any Guarantor or any Guarantor becomes Surviving Entity shall be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees [2026 Notes][2031 Notes] is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment datethereafter), the Company will Issuer shall deliver to each the Trustee and Paying Agent an Officers’ Officer’s Certificate stating the fact that such Additional Amounts will be payable, payable and the amount amounts so payable and will set setting forth such other information as (other than the identities of Holders and beneficial owners) necessary to enable such the Trustee or Paying Agent Agent, as the case may be, to pay such Additional Amounts to the Holders of the Notes and beneficial owners on the relevant payment date. Whenever The Issuer will provide the Trustee with documentation reasonably satisfactory to the Trustee evidencing payment of such Additional Amounts. The Issuer shall promptly publish a notice in this accordance with Section 13.02 of the Indenture there is mentionedstating that such Additional Amounts will be payable and describing its obligations to pay such amounts. Upon request, the Issuer, the Guarantors or any Surviving Entity shall furnish to the Trustee or a Holder within a reasonable time certified copies of tax receipts evidencing the payment by the Issuer, the Guarantors or such Surviving Entity (as the case may be) of any Taxes imposed or levied by a Relevant Taxing Jurisdiction. If, notwithstanding the efforts of the Issuer, the Guarantors or such Surviving Entity to obtain such receipts, the same are not obtainable, then the Issuer, the Guarantors or such Surviving Entity shall promptly provide the Trustee or such Holder with other evidence reasonably satisfactory to the Trustee or Holder of such payment by the Issuer, the Guarantors or such Surviving Entity. The Indenture will further provide that if the Issuer or Guarantors or any Surviving Entity conducts business in any contextjurisdiction (an “Additional Taxing Jurisdiction”) other than a Relevant Taxing Jurisdiction and, (a) as a result, is required by the payment law of principal (and premium, if any), (b) purchase prices in connection with a purchase such Additional Taxing Jurisdiction to withhold or deduct any amount on account of the Notes, (c) interest Taxes imposed by such Additional Taxing Jurisdiction from payment under this Note or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a GuarantorGuarantee, as the case may be, will which would not have been required to be so withheld or deducted but for such conduct of business in such Additional Taxing Jurisdiction, the Additional Amounts provision described above shall be considered to apply as if references in such provision to “Taxes” included Taxes imposed by way of withholding or deduction by any such Additional Taxing Jurisdiction (or any political subdivision thereof or therein). In addition, the Issuer, the Guarantors and any Surviving Entity, shall pay (i) any present or future stamp, issue, registration, court or documentary taxes or any other documentation, excise or property taxesTaxes or other similar Taxes, charges or similar levies that arise including interest and penalties with respect thereto, imposed by any Relevant Taxing Jurisdiction in respect of the United Statesexecution, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue issue, delivery or registration of the Notes [2026 Notes][2031 Notes], the Guarantees, the Indenture or on any other document or instrument referred to thereunder and any such Taxes, imposed by any jurisdiction as a result of, or in connection with, the enforcement of the [2026 Notes][2031 Notes], the Guarantees, the Indenture or any other such document or instrument following the occurrence of any Event of Default with respect to the [2026 Notes][2031 Notes] and (ii) any stamp, court, or documentary Taxes (or similar charges or levies) imposed with respect to the receipt of any payments with respect to the [2026 Notes][2031 Notes] or the Guarantees. The Issuer, any Note GuaranteeGuarantors and/or such Surviving Entity shall not, the Indenture or any other document related thereto (limitedhowever, in case of Taxes attributable to the receipt of payments thereto, to any be responsible for such Taxes imposed or withheld in a Relevant Taxing Jurisdiction amounts that are not excluded under clauses imposed on or result from a sale or other transfer or disposition by a Holder or beneficial owner of a Note. (kf) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will preceding provisions shall survive any termination, defeasance or satisfaction and discharge of this the Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, shall apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person person to the Company Issuer or any a Guarantor is incorporatedorganized, engaged in business for tax purposes incorporated or otherwise resident for tax Tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision or taxing Authority or agency thereof or therein. (g) Whenever the Indenture or this Note refers to, in any context, the payment of principal, premium, if any, interest or any other amount payable under or with respect to any Note (including payments thereof made pursuant to any Guarantee), such reference includes the payment of Additional Amounts, if applicable.

Appears in 1 contract

Sources: Indenture (Sunbelt Rentals Holdings, Inc.)

Additional Amounts. (1) All payments made by or on behalf of that the Company or any Guarantor Issuer makes under or with respect to the Notes or that the Note Subsidiary Guarantors make under or with respect to the Guarantees will shall be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including including, without limitation, penalties, interest and other similar liabilities related thereto) of whatever nature (collectively, "Taxes" or "Tax") imposed or levied by or on behalf of the federal government of Canada or by or within any province or political subdivision thereof or within any other liability with respect thereto) jurisdiction in which the Issuer, the Subsidiary Guarantors or any Surviving Entity are organised or resident for tax purposes or from or through which payment is made (“Taxes”each, a "Relevant Taxing Jurisdiction"), unless the Company Issuer or any Guarantor (or any Paying Agent) is the Subsidiary Guarantors, as the case may be, are required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authorityof law. If the Company Issuer or any Guarantor (or any Paying Agent) is so the Subsidiary Guarantors are required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes Notes, the Issuer or the Note GuaranteesSubsidiary Guarantors, as the Company or any such Guarantor will case may be, shall pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts”) as "), to the extent they may be necessary lawfully do so, so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction will shall not be less than the amount such the Holder would have received if such Taxes had not been withheld or deducted.. (2) The Issuer or the Subsidiary Guarantors shall not, provided that no however, pay Additional Amounts will be payable with respect to any Notea Holder or beneficial owner of Notes to the extent that the Taxes are imposed or levied: (a) surrendered by a Relevant Taxing Jurisdiction by reason of the Holder Holder's or beneficial owner's present or former connection with such Relevant Taxing Jurisdiction (other than the mere receipt or holding of Notes or by reason of the receipt of payments thereunder or the beneficial owner thereof for payment exercise or enforcement of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by rights under any Notes or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period;this Indenture); or (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner of Notes, prior to the relevant date on which a payment under and with respect to the Notes is due and payable (the "Relevant Payment Date") to comply with the Issuer's written request addressed to the Holder at least 30 calendar days prior to the Relevant Payment Date to provide informationaccurate information with respect to any certification, documents identification, information or other evidence concerning reporting requirements which the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or such beneficial owner which is legally required or to satisfy, whether imposed by a statute, treaty, regulation or administrative practice of practice, in each such case by the Relevant Taxing Jurisdiction Jurisdiction, as a precondition to exemption from all from, or part reduction in the rate of such taxdeduction or withholding of, assessment or governmental charge; (c) held Taxes imposed by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, (including, without limitation, such a certification that the Holder or beneficial owner being or having been a citizen or is not resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein;the Relevant Taxing Jurisdiction). (d3) on account In addition, the Issuer's and the Subsidiary Guarantors' obligation to pay Additional Amounts or to reimburse a Holder for Taxes paid by such Holder in respect of Taxes shall not apply with respect to: (a) any estate, inheritance, gift, salesales, transfer, personal property or other similar Tax, assessment or other governmental chargeTaxes; (eb) except in the case of the winding up of the Company or any Guarantor, if such Note Tax that is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment payments made under or with respect to the Notes or Note GuaranteesNotes; (gc) Taxes imposed on or with respect to any payment made by the Issuer or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee Subsidiary Guarantors to any the Holder who if such Holder is a fiduciary or partnership or person other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner Taxes would not have been entitled to any Additional Amounts imposed on such Holder had such beneficiary or settlor or Holder been the sole beneficial owner been the Holder;of such Note, (hd) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations on or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant payment made to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings who would have been able to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes by presenting the relevant Notes to another paying agent in a member state of the European Union; (e) any such withholding or deduction in respect of any Taxes imposed on a payment to an individual that is required to be made by reason pursuant to any EU Directive on the taxation of that payment being (x) paid to a bank account opened in a financial institution established insavings implementing the conclusions of the ECOFIN Council meeting of 26th-27th November 2000 or any law implementing or complying with, or (y) paid or accrued introduced in order to a person established or domiciled inconform to, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any GuarantorDirective; or (mf) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction (a), (b), (c), (d) and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally providede). (4) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 calendar days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company Issuer or any Guarantor becomes the Subsidiary Guarantors shall be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will shall be paid promptly thereafter and in any case before the relevant payment datethereafter), the Company will Issuer or the Subsidiary Guarantors shall deliver to each Paying Agent the Trustee an Officers' Certificate stating the fact that such Additional Amounts will shall be payable, payable and the amount amounts so payable and will shall set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. The Issuer shall promptly publish a press release stating that such Additional Amounts shall be payable and describing its obligation to pay such amounts. Whenever in this Indenture there is mentionedthe Issuer refers to, in any context, (a) the payment of principal (and premiumprincipal, interest, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on under or with respect to any of note, the Notes or the Note Guarantees, such mention Issuer is deemed to include mention of including in that reference the payment of Additional Amounts provided for in this section to the extentAmounts, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinif applicable.

Appears in 1 contract

Sources: Indenture (TMM Lines LTD LLC)

Additional Amounts. All payments made by the Issuer under or on behalf of with respect to the Securities, by the Company under or with respect to the Company Guarantee and by any Subsidiary Guarantor under or with respect to its Subsidiary Guarantee (the Notes or Issuer, the Note Guarantees Company and any such Subsidiary Guarantor being referred to for purposes of this paragraph individually as an "Obligor" and collectively as the "Obligors") will be made free and clear of of, and without withholding or deduction for or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge imposed or levied by or on behalf of the Government of Canada or of any province or territory thereof or by any authority or agency therein or thereof having power to tax (including without limitation, penalties, interest and or the jurisdiction of incorporation of any other liability with respect theretosuccessor of any Obligor) (hereunder "Taxes"), unless the Company applicable Obligor or any Guarantor (or any Paying Agent) successor, as the case may be, is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritygovernmental authority or agency. If the Company any Obligor or any Guarantor (or any Paying Agent) successor, as the case may be, is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note GuaranteesSecurities, the Company Guarantee or any Subsidiary Guarantee, such Guarantor Obligor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts") as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such the Holder would have received if such Taxes had not been withheld or deducted, provided ; PROVIDED that no Additional Amounts will be payable with respect to any Note: a payment made to a Holder (an "Excluded Holder") in respect of a beneficial owner (a) surrendered by with which the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of Issuer does not deal at arm's-length (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 the Income Tax Act (Canada)) at the time of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, making such payment or (4b) the Holder’s or beneficial owner’s failure which is subject to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed such Taxes by reason of the Holder’s its being connected with Canada or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State any province or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

Appears in 1 contract

Sources: Indenture (Canadian Forest Oil LTD)

Additional Amounts. All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the any Note Guarantees Guarantee by a Payor will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company withholding or any Guarantor (or any Paying Agent) deduction of such Taxes is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company any withholding or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount deduction for or on account of Taxes imposed or levied is required by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guaranteesapplicable law, the Company or any such Guarantor applicable Payor will pay to each Holder of the Notes that are outstanding on the date of the required payment, Holders such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the every net amount received by such Holder payment of interest (including any premium paid upon redemption of the Additional Amounts) after such withholding Notes and any discount deemed interest under Netherlands law), principal or deduction other amount on that Note or the Note Guarantee will not be less than the amount such Holder Holders would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note:. (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of The Company (and Guarantors) will also indemnify and reimburse Holders for: (1) Taxes (including any interest, penalties and related expenses) imposed on the date on which such payment first became due and Holders (2) or if the full amount payable has a Holder is not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due dateowner, the date on which, the full amount having been so received, notice to that effect shall have been given beneficial owner) by a Relevant Tax Jurisdiction if and to the Holders or the beneficial owners by the Trustee, except to the same extent that the a Holder would have been entitled to such Additional Amounts receive additional amounts if the Company (or a Guarantor) or other applicable withholding agent had been required to deduct or withhold those taxes from payments on surrendering such the Notes or the Note for payment on Guarantees; and (2) Stamp, court, documentary or similar taxes or charges (including any day during interest, penalties and related expenses) imposed by a Relevant Tax Jurisdiction in connection with the applicable 30-day period;execution, delivery, enforcement or registration of the Notes or the Note Guarantees or other related documents and obligations. (b) The Company (or a Guarantor) will not pay additional amounts to any Holder for or on account of any of the following: (1) any Tax imposed solely because at any time there is or was a connection between such Holder (or between a fiduciary, settlor, beneficiary, member or shareholder of or possessor of power over the relevant holder if the holder is an estate, nominee, trust, partnership, limited liability company, or corporation) and the Relevant Tax Jurisdiction imposing the tax (other than the mere receipt of a payment or the acquisition, ownership, disposition or holding of, or enforcement of rights under, a Note or the Note Guarantees); (2) any Taxestate, inheritance, gift, excise, transfer, property or any similar tax, assessment or other governmental charge is charge; (3) any Taxes imposed or withheld by reason of the failure to comply by solely because the Holder or, (or if differentthe Holder is not the beneficial owner, the beneficial owner of the Note owner) fails to comply with a request addressed to such Holder or beneficial owner to provide informationany certification, documents identification or other evidence reporting requirement concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction taxing jurisdiction of such the Holder or any beneficial owner which of the Note or the Note Guarantees, if compliance is required by law or imposed by an applicable income tax treaty to which the jurisdiction imposing the tax is a statuteparty, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to an exemption from all or part of such the tax, assessment or other governmental chargecharge for which such Holder is eligible and the Company (or a Guarantor) has given the Holders written notice within a reasonable period of time prior to the first payment date with respect to which such information or identification is required under applicable law that Holders will be required to provide such information and identification; (c4) held any Taxes with respect to a Note or a Note Guarantee presented for payment more than 30 days after the date on which payment became due and payable or the date on which payment thereof is duly provided for and notice thereof given to Holders, whichever occurs later, except to the extent that the Holder of the Note would have been entitled to additional amounts had the Notes been presented on the last day of such 30-day period; (5) any withholding or deduction imposed on a payment to an individual that is required to be made pursuant to the European Union Directive on the taxation of savings income, which was adopted by the ECOFIN Council on June 3, 2003, or any law implementing or complying with, or introduced in order to conform to, such Directive; and (6) any Tax imposed on behalf of or with respect to a payment made to a Holder or beneficial owner of Notes who is liable for Taxes would have been able to avoid such withholding or deduction by presenting the relevant Notes to another paying agent in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf a member state of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment thereinEuropean Union; (d7) on account of any estate, inheritance, gift, sale, transfer, personal property or Tax payable other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from payments to a payment Holder or beneficial owner under, or with respect to to, the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder;Guarantee; or (h8) any combination of times listed in clauses (1) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(17) of the Code above. (any such Tax, “FATCA Withholding”); c) The Payor will (i) on account of make any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being applicable law and (xii) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company Payor will furnishmake reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld from each Relevant Tax Jurisdiction imposing such Taxes. The Payor will provide to the Trustee, within 60 days a reasonable time after the date the payment of any Taxes is so deducted or withheld are due pursuant to applicable law, to the Trustee, copies either a certified copy of tax receipts (to the extent received from the relevant evidencing such payment, or, if such tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence receipts are not reasonably available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payablePayor, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such other documentation that provides reasonable evidence of such payment (unless such obligation to pay Additional Amounts arises after by the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or Payor. (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this This Section 4.21 4.17 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any successor Person to any Payor and to any jurisdiction in which any such successor Person to the Company is organized or any Guarantor is incorporated, engaged in otherwise resident or doing business for tax purposes or resident for tax purposes or any jurisdiction from or through which payment is made by such Person makes any payment on the Notes and any department successor or any political subdivision thereof or thereinits respective agents.

Appears in 1 contract

Sources: Indenture (AerCap Aviation Solutions B.V.)

Additional Amounts. All payments made by or on behalf of (a) If the Company or any Guarantor under (or with respect any of their respective successors), as applicable, is required by law or by the interpretation or administration thereof by the relevant government authority or agency to the Notes withhold or the Note Guarantees will be made free and clear of and without withholding or deduction deduct any amount for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor Specified Tax Jurisdiction (including any successor entitiesregulations or rulings promulgated thereunder) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a hereinafter Relevant Taxing JurisdictionTaxes”) from any payment made under or with respect to the Notes Notes, any Note Guarantee or the Note Guaranteesany Mortgaged Vessel, as applicable, the Company or any such Guarantor will (or any of their respective successors), as applicable, shall pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such the Holder would have received if such Taxes had not been withheld or deducted; provided, provided however, that no Additional Amounts will shall be payable with respect to any Note: payments made to a Holder (aan “Excluded Holder”) surrendered in respect of a beneficial owner (i) which is subject to such Taxes by reason of its being connected with the Specified Tax Jurisdiction otherwise than by the Holder mere holding of Notes or the beneficial owner thereof receipt of payments thereunder (or under the related guarantee), (ii) which presents any Note for payment of principal more than 30 60 days after the later of (1x) the date on which such payment first became due and (2y) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner Trustee on or prior to such due date, the date on which, which the full amount payable having been so received, notice to that effect received and the Trustee shall have been given notice to the Holders or the beneficial owners by the Trusteeof its receipt of such full amount, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering presenting such Note for payment on any the last day during of the applicable 3060-day period; , (biii) if any Taxwhich failed to duly and timely comply with a reasonable, assessment or other governmental charge is imposed or withheld by reason timely request of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner Company to provide information, documents or other evidence concerning the Holder’s nationality, residence, entitlement to treaty benefits, identity or connection with the Relevant Taxing Specified Tax Jurisdiction of or any political subdivision or authority thereof, if and to the extent that due and timely compliance with such request would have reduced or eliminated any Taxes as to which Additional Amounts would have otherwise been payable to such Holder or beneficial owner which is required or imposed by a statutebut for this clause (iii), treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (div) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment (v) which is a fiduciary, a partnership or other governmental charge; (e) except in not the case beneficial owner of the winding up of the Company or any Guarantorpayment on a Note, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect and to the Notes extent that any beneficiary or Note Guarantees; (g) with respect to settlor of such fiduciary, any payment made by or on behalf of the Company or any Guarantor partner in respect of any Note or Note Guarantee to any Holder who is a fiduciary or such partnership or other than the sole beneficial owner of such payment to (as the extent that a beneficiary or settlor or beneficial owner case may be) would not have been entitled to any receive Additional Amounts had with respect to such beneficiary or settlor payment if such beneficiary, settlor, partner or beneficial owner had been the Holder; (h) on account Holder of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, Note or (4vi) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the aboveforegoing numbered clauses of this proviso. The Company or the Guarantors (or any Guarantor will also of their respective successors), as applicable, shall make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority as and when required in accordance with applicable law. The Applicable Law. (b) In the event the Company will furnishelects not to redeem the Notes pursuant to Section 3.07(e), the Company or the Guarantors (or any of their respective successor), as applicable, shall furnish to the Trustee, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable lawApplicable Law, to the Trustee, certified copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or the Guarantors (or any Guarantorof their respective successors), as applicable, in such form as provided in the normal course by the taxing authority imposing such Taxes and as is reasonably available to the Company or the Guarantors (or any of their respective successors), as applicable. The Trustee will shall make such evidence available to the Holders upon request. At least 30 days prior to The Company or the Guarantors (or any of their respective successors), as applicable, shall upon written request of each date on which Holder (other than an Excluded Holder), reimburse each such Holder for the amount of (i) any payment Taxes so levied or imposed and paid by such Holder as a result of payments made under or with respect to the Notes or Notes, the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts Mortgaged Vessel, as applicable, and (ii) any Taxes imposed with respect to any such payment reimbursement under the immediately preceding clause (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment datei), but excluding any such Taxes on such Holder’s net income, so that the Company net amount received by such Holder after such reimbursement will deliver to each Paying Agent an Officers’ Certificate stating not be less than the fact that net amount the Holder would have received if Taxes (other than such Additional Amounts will be payable, and the amount so payable and will set forth Taxes on such other information as necessary to enable Holder’s net income) on such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. reimbursement had not been imposed. (c) Whenever in this Indenture there is mentioned, in any context, (ai) the payment of principal (and premium, if any)principal, (bii) purchase prices in connection with a purchase of the Notes, (ciii) interest or (div) any other amount payable on or with respect to any of the Notes Notes, or any payment pursuant to the Note GuaranteesGuarantees or in respect of any Collateral, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. . (d) The foregoing obligations shall survive any defeasance or discharge of this Indenture. (e) The Company or a Guarantor, as the case may be, will Guarantors shall pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue execution, delivery, enforcement or registration of the Notes the Note Guarantees or on a Mortgage or any other document or instrument in relation thereto, or the enforcement receipt of any payments with respect to the Notes, the Note Guarantees, or a Mortgage excluding such taxes, charges or similar levies imposed by any Note Guaranteejurisdiction outside of the Specified Tax Jurisdiction, the Indenture or jurisdiction of incorporation of any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations successor of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which a paying agent is located, and hereby indemnifies the Holders for any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereintaxes paid by such Holders.

Appears in 1 contract

Sources: Indenture (Trico Marine Services Inc)

Additional Amounts. (a) All payments made to a Holder or beneficial owner of a Note by or on behalf of the Company or any Guarantor Issuer under or with respect to the Notes or the Note Guarantees by or on behalf of any Guarantor pursuant to its Guarantee, will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) Authority, unless required by law or the interpretation or administration thereof. If the Issuer or a Guarantor is obligated to withhold or deduct any amount on account of taxes imposed by any Relevant Taxing Authority from any payment made under to a Holder or beneficial owner of a Note with respect to the Notes or the Note GuaranteesNotes, the Company Issuer or any such Guarantor will will: (i) make such withholding or deduction; (ii) remit the full amount deducted or withheld to the Relevant Taxing Authority in accordance with the applicable law; (iii) subject to the limitations below, pay to each Holder of the Notes that are outstanding on the date of the required paymentHolder, as additional interest, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes taxes had not been withheld or deducted; (iv) furnish to the Trustee for the benefit of the Holders, provided that no within 60 days after the date payment of any taxes are due pursuant to applicable law, certified copies of an official receipt of the Relevant Taxing Authority for all amounts deducted or withheld pursuant to applicable law, or if such receipts are not reasonably obtainable, other evidence of payment by the Issuer or such Guarantor of those taxes; and (v) at least 15 days prior to each date on which any Additional Amounts are payable (or, if the obligation to pay any Additional Amounts does not arise more than 20 days prior to the applicable payment date, reasonably promptly after such obligation arises), deliver to the Trustee an Officers’ Certificate setting forth the calculation of the Additional Amounts to be paid and such other information as the Trustee may request to enable the Trustee to pay such Additional Amounts to Holders on the payment date. (b) Notwithstanding Section 2.5(a), neither the Issuer nor a Guarantor will be payable pay Additional Amounts with respect to a payment made to any Note:Holder or beneficial owner of a Note (an “Excluded Holder”): (ai) surrendered with which the Issuer, such Guarantor or any transferee to whom a Note is assigned or otherwise transferred, does not deal at arm’s length (within the meaning of the Income Tax Act (Canada)) at the time of making such payment; (ii) that is a “specified non-resident shareholder” of the Issuer or such Guarantor or a non-resident person who does not deal at arm’s length with a specified shareholder of the Issuer or such Guarantor, both for the purposes of subsection 18(5) of the Income Tax Act (Canada); (iii) which is subject to such taxes by reason of the Holder or the beneficial owner thereof for payment of principal more being a resident, domicile or national of, or engaged in business or maintaining a permanent establishment or other physical presence in or otherwise having some present or former connection with the Relevant Taxing Authority otherwise than 30 days after by the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by mere acquisition, holding, disposition or on behalf enforcement of the relevant Holder Notes or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day periodreceipt of payments thereunder; (biv) if for or on account of any Tax, assessment taxes imposed or other governmental charge is imposed deducted or withheld by reason of the failure to comply by of the Holder or, if different, the or beneficial owner of the Note with Notes to complete, execute and deliver to the Issuer or a request addressed Guarantor, as the case may be, any form or document, to the extent applicable to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of and such Holder or beneficial owner is legally eligible to comply with, that may be required by law (including any applicable tax treaty) or by reason of administration of such law and which is required reasonably requested in writing to be delivered to the Issuer or imposed such Guarantor in order to enable the Issuer or such Guarantor to make payments on the Notes or pursuant to any Guarantee, as the case may be, without deduction or withholding for taxes, or with deduction or withholding of a lesser amount, which form or document shall be delivered within 60 days of a written request therefor by a statute, treaty, regulation the Issuer or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental chargeGuarantor; (cv) held by for or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, salesales, wealth or net worth, goods and services, harmonized sales, transfer, capital gains, excise, personal property or other similar Taxtax, assessment or other governmental charge; (evi) except in the case of the winding up of the Company for or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes tax, duty, assessment or other governmental charge that are is payable otherwise than by deduction or withholding from a payment payments under or with respect to the Notes (other than taxes payable pursuant to Regulation 803 of the Income Tax Act (Canada), or Note Guaranteesany similar successor provision); (gvii) with respect to any where the payment could have been made by without deduction or on behalf withholding if the beneficiary of the Company payment had presented the Note for payment within 30 days after the date on which such payment or any Guarantor in respect of any such Note became due and payable or Note Guarantee to any the date on which payment thereof is duly provided for, whichever is later; (viii) if the Holder who is a fiduciary or fiduciary, partnership or person other than the sole beneficial owner of such payment that payment, to the extent that such payment would be required to be included in income under the laws of the Relevant Taxing Authority for tax purposes, of a beneficiary or settlor with respect to the fiduciary, a member of that partnership or a beneficial owner who would not have been entitled to any such Additional Amounts had such beneficiary or settlor that beneficiary, settler, partner or beneficial owner been the HolderHolder thereof; (hix) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantorunder FATCA; or (mx) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld (i) through (ix). (c) Any reference in this Indenture to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable lawprincipal, to the TrusteePremium, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company if any, interest, purchase price, redemption price or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment other amount payable under or with respect to the Notes or the Note Guarantees is due and payableany Note, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company Issuer’s and the Guarantors’ obligation to make payments of Additional Amounts will survive any termination of this Indenture or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement defeasance of any rights thereunder. (d) The Issuer and each Guarantor will, jointly and severally, indemnify and hold harmless each Holder or beneficial owner of a Note (other than an Excluded Holder) and upon written request reimburse each such Holder or beneficial owner of a Note for the amount of (i) any taxes so levied or imposed by a Relevant Taxing Authority and paid by such Holder or beneficial owner of a Note as a result of payments made under or with respect to the Notes, and (ii) any Note Guarantee, the Indenture taxes levied or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in by a Relevant Taxing Jurisdiction that are not excluded under clauses (k) Authority and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer paid by a holder such Holder or beneficial owner of its notes, and will apply, mutatis mutandis, a Note with respect to any jurisdiction in reimbursement under (i) above, but excluding any such taxes with respect to which any successor Person to the Company such Holder or beneficial owner of a Note is an Excluded Holder or any Guarantor is incorporated, engaged in business for tax purposes income or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinprofits taxes imposed by a Relevant Taxing Authority.

Appears in 1 contract

Sources: Trust Indenture (Sunoco LP)

Additional Amounts. All Any payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees Securities will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) imposed or levied by or on behalf of the Government of Canada or of any province or territory thereof or by any authority or agency therein or thereof having power to tax (hereinafter "Taxes"), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritythereof. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note GuaranteesSecurities, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts") as may be necessary necessary, so that the net amount received by such each Holder of Securities (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted; provided, provided however, that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for a payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior made to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (dan "Excluded Holder") on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of with which the Company entitled to vote, does not deal at arm's length (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 the Income Tax Act (Canada)) at the time of the Code that is related to the Company within the meaning of section 864(d)(4) of the Codemaking such payment, or (4ii) the Holder’s which is subject to such Taxes by reason of its being connected with Canada or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) any province or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed territory thereof otherwise than solely by reason of the Holder’s 's activity in connection with purchasing the Securities, by the mere holding of Securities or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner receipt of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the abovepayments thereunder. The Company will, upon written request of any Holder (other than an Excluded Holder), reimburse such Holder, for the amount of (i) any Taxes so levied or any Guarantor will also make imposed and paid by such withholding Holder as a result of payments made under or deduction and remit the full amount deducted or withheld with respect to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of Securities and (ii) any Taxes is due pursuant so levied or imposed with respect to applicable lawany reimbursement under the foregoing clause (i), to but excluding any such Taxes on such Holder's net income so that the Trustee, copies of tax receipts (to net amount received by such Holder after such reimbursement will not be less than the extent net amount the Holder would have received from the relevant tax authorities in the usual course or as generally provided) evidencing that if Taxes on such payment has reimbursement had not been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon requestimposed. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees Securities is due and payable, if the Company or any Guarantor becomes will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date)payment, the Company will deliver to each Paying Agent the Trustee an Officers' Certificate stating the fact that such Additional Amounts will be payable, payable and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and or premium, if any), (b) purchase prices in connection with a purchase of the NotesRedemption Price, (c) interest or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesSecurity, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.52

Appears in 1 contract

Sources: Indenture (GST Telecommunications Inc)

Additional Amounts. All payments made by or on behalf in respect of the Company or any Guarantee Payments (including interest accrued thereon, if any) by the Guarantor under or with respect to the Notes or the Note Guarantees will shall be made free and clear of of, and without withholding or deduction for or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company withholding or any Guarantor (or any Paying Agent) deduction of such Taxes is required to withhold or deduct Taxes by law or by the official interpretation or administration thereof by the relevant taxing authorityof applicable law. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of certain Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required paymentshall pay, as further Guarantee Payments, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount amounts received by such a Holder (including the Additional Amountsor a third party on its behalf) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled received in respect of the Guarantee Payments (including interest accrued thereon, if any) in the absence of such withholding or deduction (“Additional Amounts”), except that the obligation to pay such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; shall not apply to (bi) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been imposed but for the Holder; (h) on account existence of any Tax that is imposed pursuant to sections 1471 through 1474 of present or former connection between the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status relevant Holder (or the past or present status of between a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial ownerthe relevant Holder, if such the relevant Holder or beneficial owner is an estate, a trustnominee, a partnership trust or a corporation) and the Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Taxing Jurisdiction) other than by the mere ownership or holding of the Company Preferred Securities or the Guarantee or enforcement of rights under the Company Preferred Securities or the Guarantee or under the receipt of payments in respect of the Company Preferred Securities or the Guarantee; (ii) any estate, inheritance, gift, sales, transfer, personal property tax or similar tax, assessment or governmental charge; (iii) any Taxes payable otherwise than by withholding from payments of dividends and other amounts due on the Company Preferred Securities or the Guarantee; (iv) any Taxes that would not have been imposed if the Holder had made a declaration of nonresidence or any other claim or filing for exemption to which it is entitled (provided that (a) a declaration of non-residence or other claim or filing for exemption is required by the applicable law of the Taxing Jurisdiction as a personal holding companyprecondition to exemption from the requirement to deduct or withhold such Taxes and (b) at least 30 days prior to the first payment date with respect to which such declaration of non-residence or other claim or filing for exemption is required under the applicable law of the Taxing Jurisdiction, passive foreign investment companythe Holder at that time has been notified by the Company, the Guarantor or controlled foreign corporation any other person through whom payment may be made that a declaration of non-residence or other claim or filing for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes exemption is required to be made); (v) any Taxes imposed as a result of the presentation of a certificate for the Company Preferred Security for payment (where presentation is required) more than 30 days after the relevant payment is first made by reason available to the Holder (except to the extent that the Holder would have been entitled to receive Additional Amounts had the relevant certificate been presented on the last day of that payment being (x) paid to a bank account opened in a financial institution established in, such 30-day period); or (yvi) paid or accrued to a person established or domiciled inany combination of items (i) through (v) above. Additional Amounts will also not be payable where, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or had the beneficial owner of the Note concurrently being a shareholder Company Preferred Securities been the holder, it would not have been entitled to payment of the Company or Additional Amounts by reason of any Guarantor; or items (mi) on account of any combination of the to (vi) inclusive above. The Company or any Guarantor will also (i) make such any required withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant authority Taxing Jurisdiction in accordance with applicable law. The Company Guarantor will furnish, within 60 days after the date use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes is due pursuant so deducted or withheld from each Taxing Jurisdiction imposing such Taxes and will provide such certified copy to applicable lawHolders, upon request. The Guarantor will attach to each certified copy a certificate stating: (a) that the Trustee, copies amount of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made withholding Taxes evidenced by the Company or any Guarantorcertified copy was paid in connection with payments in respect of the Guarantee, and (b) the amount of such withholding Taxes paid per relevant Preferred Security. The Trustee Copies of this documentation will make such evidence be available to at the Holders office of the Paying Agent during regular business hours for inspection upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment Dividend Payment Date (unless such an obligation to pay Additional Amounts arises shortly before or after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payablethat date, in which case it will be paid promptly thereafter and thereafter) if there has been a change with respect to the matters set forth in any case before the relevant payment date)below-mentioned Officer’s Certificate, the Company will deliver Guarantor shall furnish to each the Paying Agent (with a copy to the Registrar) an Officers’ Officer’s Certificate stating instructing the Paying Agent as to whether any Guarantee Payment shall be made to Holders without withholding or deduction for or on account of any Taxes. If any such withholding or deduction shall be required, then such Officer’s Certificate shall specify by country the amount required to be withheld or deducted on such payments to such Holders and shall certify the fact that such Additional Amounts will shall be payable, payable if a Guarantee Payment is due and the amount amounts so payable to each Holder and will set forth such any other information as necessary to enable such the Paying Agent to pay such the Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentionedDividend Payment Date, and the Guarantor shall pay to the Paying Agent, in any contextcase a Guarantee Payment is due, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in required to be paid by this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereofSection 2.09. The Company or a Guarantor, as the case may be, Guarantor will pay any present or future stamp, court or documentary taxes taxes, or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue execution, delivery or registration of the Notes Company Preferred Securities or on any other document or instrument referred to in the enforcement Company Preferred Securities (other than a transfer of the Company Preferred Securities), or the receipt of any payments with respect to the NotesGuarantees, excluding any Note Guaranteetaxes, the Indenture charges or similar levies imposed by any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in jurisdiction that is not a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) has imposed or any combination of items (k) and (l) above). The obligations of levied taxes resulting in the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, requirement to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinpay Additional Amounts.

Appears in 1 contract

Sources: Subordinated Guarantee Agreement (Mitsubishi Ufj Financial Group Inc)

Additional Amounts. All payments made by the Issuer under or on behalf of with respect to the Securities, by the Company under or with respect to the Company Guarantee and by any Subsidiary Guarantor under or with respect to its Subsidiary Guarantee (the Notes or Issuer, the Note Guarantees Company and any such Subsidiary Guarantor being referred to for purposes of this paragraph individually as an "Obligor" and collectively as the "Obligors") will be made free and clear of of, and without withholding or deduction for or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge imposed or levied by or on behalf of the Government of Canada or of any province or territory thereof or by any authority or agency therein or thereof having power to tax (including without limitation, penalties, interest and or the jurisdiction of incorporation of any other liability with respect theretosuccessor of any Obligor) (hereunder "Taxes"), unless the Company applicable Obligor or any Guarantor (or any Paying Agent) successor, as the case may be, is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritygovernmental authority or agency. If the Company any Obligor or any Guarantor (or any Paying Agent) successor, as the case may be, is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or the Note GuaranteesSecurities, the Company Guarantee or any Subsidiary Guarantee, such Guarantor Obligor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“"Additional Amounts") as may be necessary so that the net amount received by such each Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such the Holder would have received if such Taxes had not been withheld or deducted, provided ; PROVIDED that no Additional Amounts will be payable with respect to any Note: a payment made to a Holder (an "Excluded Holder") in respect of a beneficial owner (a) surrendered by with which the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of Issuer does not deal at arm's-length (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 the Income Tax Act (Canada)) at the time of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that making such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.or

Appears in 1 contract

Sources: Indenture (Canadian Forest Oil LTD)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other governmental charge of a similar nature (including without limitationpenalties, penaltiesadditions to tax, interest and any other liability with respect liabilities related thereto) (“Taxes”), ) unless the Company withholding or any Guarantor (or any Paying Agent) deduction of such Taxes is then required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of the government of the Republic of the M▇▇▇▇▇▇▇ Islands or any political subdivision or any authority or agency therein or thereof having power to tax, or any other jurisdiction in which the Company or any applicable Guarantor (including any successor entitiesentity) is then organized organized, incorporated, engaged in business or is otherwise resident or treated as resident for Tax purposes or any political subdivision thereof or therein tax purposes, or any jurisdiction by from or through which payment is made (eachincluding, without limitation, the jurisdiction of each Paying Agent) (each a “Relevant Taxing Specified Tax Jurisdiction”) ), will at any time be required to be made from any payment payments made under or with respect to the Notes or the Note Guarantees, the Company or any such applicable Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in or the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by in respect of such Holder payments (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder that would have been received in respect of such payments if such Taxes had not been withheld or deducted; provided, provided however, that no the foregoing obligation to pay Additional Amounts does not apply to: (1) any Taxes that would not have been so imposed but for the Holder or Beneficial Owner of the Notes having any present or former connection with the Specified Tax Jurisdiction (other than the mere acquisition, ownership, holding, enforcement or receipt of payment in respect of the Notes or the Note Guarantees); (2) any estate, inheritance, gift, sales, excise, transfer, capital gains, personal property or similar Tax; (3) any Taxes payable other than by deduction or withholding from payments under, or with respect to, the Notes or the Note Guarantees; (4) any Taxes imposed as a result of the failure of the Holder or Beneficial Owner of the Notes, to the extent it is legally entitled to do so, to complete, execute and deliver to the Company any form or document to the extent applicable to such Holder or Beneficial Owner that may be required by law (including any applicable tax treaty) or by reason of administration of such law and which is reasonably requested in writing by the Company or the applicable Guarantor at least 90 days before such withholding or deduction will be payable to be delivered to the Company in order to enable the Company or the applicable Guarantor to make payments on the Notes or the Note Guarantees without deduction or withholding for Taxes, or with respect to any Note:deduction or withholding of a lesser amount, which form or document will be delivered within 60 days of a written request therefor by the Company; (a5) surrendered by any Taxes that would not have been so imposed but for the Holder or beneficiary of the beneficial owner thereof payment having presented a Note for payment of principal (in cases in which presentation is required) more than 30 days after the later of (1) the date on which such payment first or such Note became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on whichwhich payment thereof is duly provided for, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, whichever is later (except to the extent that the Holder would have been entitled to such Additional Amounts had the Note been presented on surrendering the last day of such Note for payment on any day during the applicable 30-day period); (b6) if any Tax, assessment Taxes imposed on or other governmental charge is imposed or withheld with respect to any payment by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, to the Holder if such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or fiduciary, partnership or person other than the sole beneficial owner Beneficial Owner of such payment payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such partnership or beneficial owner the Beneficial Owner of such payment would not have been entitled to any Additional Amounts had such beneficiary beneficiary, settlor, member or settlor or beneficial owner Beneficial Owner been the Holderactual Holder of such Note; (h7) on account of any Tax that is Taxes imposed pursuant to sections Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, amended (the “Code”), as of the date hereof (or any regulations amended or successor version that is substantively comparable and not materially more onerous to comply with) or any current or future Treasury Regulations or other official administrative guidance thereunder, any intergovernmental agreement entered into in connection therewith, promulgated thereunder or any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to the foregoing (and including, for the avoidance of doubt, pursuant to any of the foregoing, or any agreements agreement entered into pursuant to section Section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status date hereof (or the past any amended or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantorsuccessor version described above)); or (m) on account of 8) any combination of clauses (1) through (7) above. (b) If the above. The Company or any Guarantor becomes aware that it will also make such withholding or deduction and remit the full amount deducted or withheld be obligated to the relevant authority in accordance pay Additional Amounts with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant respect to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payableGuarantees, if the Company or any Guarantor becomes obligated will deliver to pay Additional Amounts with respect the Trustee and Paying Agent at least 30 days prior to such the date of that payment (unless such the obligation to pay Additional Amounts arises after the 30th day prior to the date on which that payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each notify the Trustee and Paying Agent promptly thereafter but in no event later than two Business Days prior to the date of payment) an Officers’ Officer’s Certificate stating the fact that such Additional Amounts will be payable, payable and the amount so payable and will payable. The Officer’s Certificate must also set forth such any other information as necessary to enable such the Paying Agent to pay such Additional Amounts to Holders on the relevant payment date. The Trustee and Paying Agent will be entitled to rely solely on such Officer’s Certificate as conclusive proof that such payments are necessary. The Company will provide the Trustee and Paying Agent with documentation reasonably satisfactory to the Trustee and Paying Agent evidencing the payment of Additional Amounts. (c) The Company or applicable Guarantor will make all withholdings and deductions required by law and will remit the full amount deducted or withheld to the relevant governmental authority on a timely basis in accordance with applicable law. As soon as practicable, the Company will make commercially reasonable efforts to provide the Trustee and Paying Agent with an official receipt or, if official receipts are not obtainable, other documentation reasonably satisfactory to the Trustee and Paying Agent evidencing the payment of the Taxes so withheld or deducted. Upon written request, copies of those receipts or other documentation, as the case may be, will be made available by the Trustee and Paying Agent to the Holders of the Notes on the payment date. Notes. (d) Whenever in this Indenture there is mentionedreferenced, in any context, (a) the payment of amounts based upon the principal (and premium, if any), (b) purchase prices in connection with a purchase amount of the NotesNotes or of principal, (c) interest or (d) any other amount payable on under, or with respect to any of to, the Notes or the Note GuaranteesNotes, such mention is reference will be deemed to include mention of the payment of Additional Amounts provided for in as described under this section heading to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. . (e) The Company or applicable Guarantor will indemnify a GuarantorHolder or Beneficial Owner, within 10 Business Days after written demand therefor, for the full amount of any Taxes paid by such Holder or Beneficial Owner to a governmental authority of a Specified Tax Jurisdiction, on or with respect to any payment by on or account of any obligation of the Company or Guarantor to withhold or deduct an amount on account of Taxes for which the Company or Guarantor would have been obliged to pay Additional Amounts hereunder and any penalties, additions to tax, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant governmental authority. A certificate as to the case may be, amount of such payment or liability delivered to the Company by a Holder will be conclusive absent manifest error. (f) The Company or applicable Guarantor will pay any present or future stamp, court, issue, registration, value added, court or documentary taxes or any other excise or property taxes, charges or similar levies (including penalties, additions to tax, interest and any other liabilities and reasonable expenses related thereto) that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Specified Tax Jurisdiction from the initial issue execution, delivery, enforcement or registration of the Notes Notes, the Note Guarantees, this Indenture or on any other document or instrument in relation thereof, or the enforcement receipt of any payments with respect to the NotesNotes or the Note Guarantees (each such tax, any a “Note GuaranteeIssuance Tax”), the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or such Guarantor will indemnify the Holders or Beneficial Owners for any Guarantor such Note Issuance Taxes paid by such Holders or Beneficial Owners. (g) The obligations described in this Section 4.21 3.09 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department organized or any political subdivision or authority or agency thereof or therein.

Appears in 1 contract

Sources: Indenture (Altera Infrastructure L.P.)

Additional Amounts. All With respect to any payments made by or on the behalf of the Company Issuer or any a Guarantor under or with in respect to of the Notes or any Guarantee of the Notes, as applicable, the Issuer or such Guarantor will make all payments of principal, premium, if any, and interest (whether on scheduled payment dates or upon acceleration) and the Redemption Price, if any, payable in respect of any Note Guarantees will be made free and clear of and without deduction or withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (“Taxes”)) imposed, unless the Company levied, collected, withheld or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied assessed by or on behalf of any jurisdiction in which the Company Issuer or any such Guarantor (including any successor entities) is then organized incorporated or organized, engaged in business for tax purposes or otherwise resident for Tax purposes tax purposes, or any political subdivision thereof or taxing authority therein or and any jurisdiction by or through which any payment is made on behalf of the Issuer or any Guarantor (including the jurisdiction of any Paying Agent) (each, a “Relevant Taxing Jurisdiction”) from ), upon or as a result of such payments, unless required by law or by the official interpretation or administration thereof. To the extent that any payment made under such Taxes are so levied or with respect to the Notes or the Note Guaranteesimposed, the Company Issuer or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount received by such each Holder (including the Additional Amounts) ), after withholding for or on account of such withholding Taxes imposed upon or deduction as a result of such payment, will not be less than the amount such Holder that would have been received if had such Taxes had not been withheld imposed or deductedlevied. Notwithstanding the foregoing, provided that no such Additional Amounts will shall be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for a payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior made to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any a Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein;: (d1) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is Taxes are imposed pursuant to sections Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, amended (the “Code”), any current or future regulations or other official guidance thereunderinterpretations thereof, any intergovernmental agreement entered into in connection therewithfiscal or regulatory legislation, any similar law rules or regulation practices adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States States, with respect to any of the foregoing, foregoing or any agreements entered into pursuant to section Section 1471(b)(1) of the Code (any such Tax, FATCA WithholdingFATCA);) and/or the UK’s International Tax Compliance Regulations 2015; or (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within extent that such Taxes would not have been so imposed, levied or assessed but for the meaning existence of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if some connection between such Holder or beneficial owner is an estate, a trust, a partnership of such Note and the Taxing Jurisdiction imposing such Taxes other than the mere holding or a corporation) as a personal holding company, passive foreign investment company, enforcement of such Note or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason receipt of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantorpayments thereunder; or (m3) to the extent that such Taxes would not have been so imposed, levied or assessed but for the failure of the Holders or beneficial owners of such Note to comply with a reasonable written request by the Issuer (or its agent) to make a valid declaration of non-residence or any other claim or filing for relief or exemption (or to assist in the completion of any such claim or filing) to which it is entitled (but only to the extent it is legally entitled to do so); or (4) that presents such Note for payment (where presentation is required) more than 30 days after the date on account which such payment became due and payable or the date on which payment of the Note is duly provided for and notice is given to Holders, whichever occurs later, except to the extent that the Holder or beneficial owner of such Note would have been entitled to such Additional Amounts on presenting such Note on any date during such 30-day period; or (5) in the case of a payment made by or on behalf of the Issuer or any Guarantor organized under the laws of the United States, any state thereof or the District of Columbia, with respect to any United States withholding taxes, so long as such withholding taxes are summarized in the prospectus supplement with respect to the Notes, dated May 10, 2023, in the discussion under the caption “Certain Material Income Tax Consequences—United States Taxation” or the Issuer or such Guarantor (pursuant to Section 1.06 of the Original Indenture) provides reasonable notice regarding potential United States withholding taxes and requests Holders and beneficial owners to provide applicable U.S. tax forms; or (6) any combination of the above. The Company or As used herein and for purposes of the Indenture and the Notes, any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld reference to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment principal of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date and interest on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premiumRedemption Price, if any), shall be deemed to include a reference to any related Additional Amounts payable in respect of such amounts. The Issuer will also pay any stamp, registration, excise or property taxes and any other similar levies (bincluding any interest and penalties related thereto) purchase prices in connection with a purchase imposed by any Taxing Jurisdiction on the execution, delivery, registration or enforcement of any of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable or instrument referred to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)therein. The foregoing obligations of the Company or any Guarantor described in this Section 4.21 1.09 will survive any termination, defeasance or satisfaction and discharge of this the Indenture and will apply mutatis mutandis to any successor of the Issuer or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or thereinGuarantor.

Appears in 1 contract

Sources: Indenture (Willis Towers Watson PLC)

Additional Amounts. (a) All payments made by or on behalf of that the Company or any Guarantor Issuer makes under or with respect to the Notes and that any Guarantor makes under or the with respect to any Note Guarantees Guarantee will be made free and clear of and without withholding or deduction de- duction for or on account of any present or future tax, duty, levy, impost, assessment Taxes imposed or other governmental charge (including without limitation, penalties, interest and levied by or on behalf of Canada or any other liability jurisdiction (i) in which the Issuer or any Guarantor is incorporated, organized or otherwise resident or doing busi- ness for tax purposes or (ii) from or through which the Issuer, any Guarantor or any of their paying agents makes any payment under or with respect thereto) to the Notes or any Note Guarantee, or by, in each case any political subdivision or taxing authority or agency thereof or therein (each, a TaxesRelevant Taxing Jurisdiction”), unless withholding or de- duction is then required by law. If the Company Issuer or any Guarantor (or any Paying Agent) other applicable withholding agent is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a Relevant Taxing Jurisdiction”) from Jurisdiction in respect of any payment made under or with respect to the Notes or the any Note GuaranteesGuarantee, the Company Issuer or any such Guarantor Guarantor, as the case may be, will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so to ensure that the net amount received by such Holder (including each beneficial owner of the Additional Amounts) Notes after such withholding or deduction (including any withhold- ing or deduction attributable to the Additional Amounts) will be not be less than the amount such Holder the beneficial owner would have received if such Taxes had not been required to be withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period;. (b) if Neither the Issuer nor any TaxGuarantor will, assessment however, pay Additional Amounts to a Holder or bene- ficial owner of Notes in respect or on account of: (1) any Tax that would not have been imposed or levied by a Relevant Taxing Jurisdiction, but for the Holder’s or beneficial owner’s present or former connection with such Relevant Taxing Jurisdic- tion (other governmental charge than any connection arising solely from the acquisition, ownership or disposition of the Notes, the receipt of payments under or with respect to such Notes or a Note Guarantee, or the exercise or en- forcement of rights under or with respect to the Notes or any Note Guarantee); (2) any Tax imposed by reason of a Holder, beneficial owner or any other recipient of a payment being a Person with whom the Issuer or any Guarantor does not deal at arm’s length for purposes of the Income Tax Act (Canada); (3) any Tax that is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner of Notes, following the Issuer’s written request addressed to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner (and made at a time that would enable the Holder or beneficial owner acting reasonably to comply with that re- quest, and in all events at least 30 calendar days before the relevant date on which payment under or with respect to the Notes or any Note Guarantee is due and payable) to comply with any certification or identifi- cation requirements, whether required or imposed by a statute, treaty, regulation or administrative practice of the Relevant a Rel- evant Taxing Jurisdiction Jurisdiction, as a precondition to exemption from all from, or part reduction in the rate of such taxdeduction or withholding of, assessment or governmental charge; (c) held Taxes imposed by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, (including, without limitation, such a certifi- cation that the Holder or beneficial owner being is not resident in the Relevant Taxing Jurisdiction), but in each case only to the extent that the Holder or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment thereinbeneficial owner, as the case may be, is legally eligible to provide such certification; (d4) on account of any estate, inheritance, gift, salesales, transfer, personal property transfer or other similar Tax, assessment or other governmental chargeTaxes; (e5) except in the case of the winding up of the Company any Tax imposed on or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by the Issuer or on behalf of a Guarantor to the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who if such Holder is a fiduciary or partnership or person other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner such Taxes would not have been entitled to any Additional Amounts imposed on such payment had such beneficiary the beneficiary, partner or settlor or other beneficial owner been directly held the Holder;Note; provided that there is no material cost or material commercial or legal restriction to transferring the Notes to the beneficiary, partner or other beneficial own- er and only to the extent such Tax is imposed more than 90 days after the Issuer notifies such Holder of the imposition of such Tax and requests the Holder to make such a transfer; or (h6) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed levied by reason of the Holder’s or beneficial owner’s past or present status presentation (where presentation is re- quired in order to receive payment) of the Notes for payment on a date more than 30 days after the date on which such payment became due and payable or the past or present status of a fiduciarydate on which payment thereof is duly provided for, settlorwhichever is later, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or except to the extent that the beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation Holder thereof would have been entitled to Additional Amounts had the Notes been presented for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income taxpayment on any date during such 30 day period; (kc) when such The Issuer and each Guarantor, if they are the applicable withholding or deduction for French taxes is required to be made by reason of that payment being agents, will (xi) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction required by applicable law and (ii) remit the full amount deducted or withheld to the relevant rele- vant taxing authority in accordance with applicable law. The Company will furnish, within 60 . (d) Within 45 days after receiving from a Holder a notice containing reasonable particulars of a Tax payable pursuant to Regulation 803 of the date Income Tax Act (Canada) by a Holder or beneficial owner of the payment Notes in respect of any Taxes is due pursuant to applicable law, amount payable under the Notes to the TrusteeHolder (other than by reason of a transfer of the Notes to a person resident in Canada with whom the transferor does not deal at arm’s length for the purposes of such Act), copies but no Additional Amount is paid in respect of tax receipts (such Tax, the Issuer will pay to the extent received Holder an amount equal to such Tax, provided such Holder or beneficial owner would have been entitled to receive Additional Amounts on account of such Tax but for the fact that it is payable otherwise than by deduction or withholding from the relevant tax authorities in the usual course payments made under or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available with respect to the Holders upon request. Notes. (e) At least 30 calendar days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or Issuer and any Guarantor becomes will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment datethereafter), the Company Issuer will deliver to each Paying Agent the Trustee an Officers’ Officer’s Certificate stating the fact that such Additional Amounts will be payable, payable and the amount amounts so payable and will set forth such other information as (other than the identities of Holders and bene- ficial owners) necessary to enable such the Trustee or Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a GuarantorAgent, as the case may be, to pay such Additional Amounts to Holders and beneficial owners on the relevant payment date. The Issuer will provide the Trustee with documenta- tion reasonably satisfactory to the Trustee evidencing payment of such Additional Amounts. (f) The Issuer or the relevant Guarantor will take reasonable efforts to furnish to the Trustee or a Holder within a reasonable time certified copies of tax receipts evidencing the payment by the Issuer or such Guar- antor, as the case may be, of any Taxes imposed or levied by a Relevant Taxing Jurisdiction. If, notwithstanding the reasonable efforts of the Issuer or such Guarantor to obtain such receipts, the same are not obtainable, then the Issuer or such Guarantor will provide such Holder with other evidence reasonably satisfactory to the Holder of such pay- ment by the Issuer or such Guarantor. (g) The Issuer and each Guarantor will pay any present or future stamp, issue, registration, court or documentary taxes or any other doc- umentation, intangible, recording, filing, excise or property taxes, charges Taxes or other similar levies that arise Taxes imposed by any Relevant Taxing Jurisdiction in respect of any payment under or with respect to the United StatesNotes or any Note Guarantee, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue execu- tion, issue, delivery or registration of the Notes Notes, any Note Guarantee or on this Indenture or any other document or in- strument referred to thereunder and any such Taxes imposed by any jurisdiction as a result of, or in connection with, the enforcement of the Notes, such Note Guarantee or this Indenture or any payments such other document or instrument fol- lowing the occurrence of any Event of Default with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto . (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (kh) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 preceding provisions will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, shall apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person person to the Company Issuer or any Guarantor is incorporatedorganized, engaged in incorporated or otherwise resident or doing business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person person (or its Paying Agent) makes any payment on under or with respect to the Notes or any Note Guaran- tee, and any department or in each case any political subdivision or taxing authority or agency thereof or therein. Whenever this Indenture refers to, in any context, the payment of principal, premium, if any, interest or any other amount payable under or with respect to the Notes (including payments thereof made pursuant to any Note Guarantee), such reference includes the payment of Additional Amounts, if applicable. The Trustee shall have no duty to determine whether Additional Amounts are payable or to calculate or verify the Issuer’s calculations of any Additional Amounts.

Appears in 1 contract

Sources: Indenture

Additional Amounts. All payments made by or on behalf of the Company any Issuer or any Guarantor under or any successor in interest to any of the foregoing (each, a “Payor”) on or with respect to the Notes or the Note Guarantees any Guarantee will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other similar governmental charge (including without limitationcollectively, penalties, interest and any other liability with respect thereto) (“Taxes”), ) unless the Company such withholding or any Guarantor (or any Paying Agent) deduction is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of of: (a) any jurisdiction in which (other than the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes United States or any political subdivision or governmental authority thereof or therein or any jurisdiction by having power to tax) from or through which payment on the Notes or any Guarantee is made by such Payor, or any political subdivision or governmental authority thereof or therein having the power to tax; or (eachb) any other jurisdiction (other than the United States or any political subdivision or governmental authority thereof or therein having the power to tax) in which a Payor that actually makes a payment on the Notes or its Guarantee is organized or otherwise considered to be a resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax, (each of clause (a) and (b), a “Relevant Taxing Jurisdiction”) ), will at any time be required from any payment payments made under or with respect to the Notes or the Note Guaranteesany Guarantee, including payments of principal, redemption price, interest or premium, if any, the Company or any such Guarantor Payor will pay to each Holder of the Notes that are outstanding on the date of the required payment, (together with such payments) such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount amounts received in respect of such payments by such Holder (including the Additional Amounts) Holders or the Trustee, as the case may be, after such withholding or deduction (including any such deduction or withholding from such Additional Amounts), will not be less than the amount such Holder amounts that would have been received if in respect of such Taxes had not been withheld payments on the Notes or deductedthe Guarantees in the absence of such withholding or deduction; provided, provided however, that no such Additional Amounts will be payable with respect to any Notefor or on account of: (ai) surrendered by any Taxes that would not have been so imposed or levied but for the Holder existence of any present or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of former connection between the relevant Holder (or the beneficial owner on between a fiduciary, settlor, beneficiary, partner, member or prior to such due dateshareholder of, or possessor of power over, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder orrelevant Holder, if different, the beneficial owner of the Note with a request addressed to such Holder is an estate, nominee, trust, partnership, limited liability company or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with corporation) and the Relevant Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Relevant Taxing Jurisdiction) but excluding, in each case, any connection arising solely from the acquisition, ownership or holding of such Notes or the receipt of any payment in respect thereof; (ii) any Taxes that would not have been so imposed or levied if the Holder of the Note had complied with a reasonable request in writing of the Payor (such request being made at a time that would enable such holder acting reasonably to comply with that request) to make a declaration of nonresidence or beneficial owner any other claim or filing or satisfy any certification, information or reporting requirement for exemption from, or reduction in the rate of, withholding to which it is entitled (provided that such declaration of nonresidence or other claim, filing or requirement is required or imposed by a statutethe applicable law, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from the requirement to deduct or withhold all or a part of any such tax, assessment or governmental chargeTaxes); (ciii) held any Taxes that are payable otherwise than by withholding from a payment on the Notes or any Guarantee; (iv) any estate, inheritance, gift, sales, excise, transfer, personal property or similar Taxes; (v) any Taxes that are required to be deducted or withheld on a payment pursuant to the Directive or any law implementing, or introduced in order to conform to, the Directive; (vi) any Taxes imposed in connection with a Note presented for payment by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of would have been able to avoid such Tax by presenting the relevant Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Noteto, or the receipt of payments made by or on behalf otherwise accepting payment from, another paying agent in a member state of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment thereinEuropean Union; (dvii) on account of any estateTaxes imposed pursuant to the Directive, inheritanceor any law implementing or complying with, giftor introduced in order to conform to, sale, transfer, personal property or other similar Tax, assessment or other governmental chargethe Directive; (eviii) except in the case any Taxes payable under Sections 1471 through 1474 of the winding up Code, as of the Company date of the Offering Circular (or any Guarantoramended or successor version that is substantively comparable and not materially more onerous to comply with), if such Note is surrendered for payment in the Republic of France;any current or future regulations or official interpretations thereof and any agreements (including any intergovernmental agreements) entered into pursuant thereto; or (fix) on account any combination of any Taxes that are the above. Such Additional Amounts will also not be payable otherwise than by (x) if the payment could have been made without such deduction or withholding from a if the beneficiary of the payment with respect had presented the Note for payment (where presentation is required) within 30 days after the relevant payment was first made available for payment to the Notes Holder or Note Guarantees; (gy) with respect to any payment made by or on behalf of where, had the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of the Note been the Holder of the Note, such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any payment of Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account by reason of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); clauses (i) on account of any U.S. federal withholding Taxes imposed as a result of to (viii) inclusive above. The Payor will (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of make any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and (2) remit the full amount deducted or withheld to the relevant taxing authority of the Relevant Taxing Jurisdiction in accordance with applicable law. The Company Upon request, the Payor will furnish, within 60 days after the date use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes is due pursuant to applicable law, so deducted or withheld from each relevant taxing authority of each Relevant Taxing Jurisdiction imposing such Taxes and will provide such certified copies to the Trustee. If, copies notwithstanding the efforts of tax such Payor to obtain such receipts, the same are not obtainable, such Payor will provide the Trustee with other reasonable evidence. Such receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been other evidence will be made available by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon on request. At If any Payor will be obligated to pay Additional Amounts under or with respect to any payment made on the Notes, at least 30 days prior to each the date on which any payment under or with respect of such payment, the Payor will deliver to the Notes or Trustee an Officer’s Certificate stating the Note Guarantees is due fact that Additional Amounts will be payable and payable, if the Company or any Guarantor becomes obligated amount so payable and such other information necessary to enable the Paying Agent to pay Additional Amounts with respect to such Holders on the relevant payment date (unless such obligation to pay Additional Amounts arises after the 30th day less than 45 days prior to the date on which relevant payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter the Payor shall deliver such Officer’s Certificate and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary promptly as practicable after the date that is 30 days prior to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date, but no less than five Business Days prior thereto, and otherwise in accordance with the requirements of DTC). Whenever Wherever in this Indenture Indenture, the Notes or any Guarantee there is mentioned, in any context, : (a1) the payment of principal principal, (and premium, if any), (b2) redemption prices or purchase prices in connection with a redemption or purchase of the Notes, (3) interest, or (c) interest or (d4) any other amount payable on or with respect to any of the Notes or the Note Guaranteesany Guarantee, such mention is reference shall be deemed to include mention of the payment of Additional Amounts provided for as described in this section Section 2.15 to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, Payor will pay any present or future stamp, court or documentary taxes Taxes, or any other excise or excise, property taxes, charges or similar levies Taxes that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Relevant Taxing Jurisdiction from the execution, delivery, issuance, initial issue resale, registration or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the this Indenture or any other document related or instrument in relation thereto (limited, in case other than a transfer of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveNotes). The foregoing obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company a Payor is organized or any Guarantor is incorporated, engaged in business for tax purposes or otherwise considered to be a resident for tax Tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision or taxing authority or agency thereof or therein. The Issuers and the Guarantors shall ensure that no proceeds raised under the Notes will be used in a manner which would constitute a “use of proceeds in Switzerland” as interpreted by Swiss tax authorities for the purposes of Swiss Withholding Tax (Verrechnungssteuer), except and to the extent that a written confirmation or tax ruling countersigned by the Swiss Federal Tax Administration (Eidgenössische Steuerverwaltung) has been obtained confirming that the intended “use of proceeds in Switzerland” if guaranteed by a Swiss resident Guarantor does not result in the Notes qualifying as a Swiss notes issue for Swiss Withholding Tax purposes.

Appears in 1 contract

Sources: Indenture (Axalta Coating Systems Ltd.)

Additional Amounts. (a) All payments made by or on behalf of the Company or any Guarantor (each a “Payor”) under or with respect to the Notes or the any Note Guarantees Guarantee will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) such Payor is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company or any Guarantor (or any Paying Agent) a Payor is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which such Payor is incorporated, organized, resident or carrying on business for tax purposes or from or through which such Payor or its respective agents makes any payment on the Company Notes or any Guarantor (including any successor entities) is then organized or resident for Tax purposes Note Guarantee or any department or political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or any Note Guarantee, including, without limitation, payments of principal, redemption price, purchase price, interest or premium, such Payor, subject to the Note Guaranteesexceptions stated below, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so such that the net amount received in respect of such payment by such each Holder (including the Additional Amounts) or Beneficial Holder after such withholding or deduction (including withholding or deduction attributable to Additional Amounts payable hereunder) will not be less than the amount such the Holder or Beneficial Holder, as the case may be, would have received if such Taxes had not been required to be so withheld or deducted. (b) A Payor will not, provided that no however, pay Additional Amounts will be payable to a Holder or Beneficial Holder with respect to any Noteto: (a1) surrendered Canadian withholding Taxes imposed on a payment to a Holder or Beneficial Holder by reason of such Holder or Beneficial Holder being a person with whom the Payor does not deal at arm’s length for the purposes of the Tax Act at the time of making such payment (other than where the non-arm’s length relationship arises as a result of the exercise or enforcement of rights under any Notes or any Note Guarantee); (2) any Canadian withholding Taxes imposed on a payment or deemed payment to a Holder or Beneficial Holder by reason of such Holder or Beneficial Holder being a “specified shareholder” of the Company (within the meaning of subsection 18(5) of the Tax Act) at the time of payment or deemed payment, or by reason of such Holder or Beneficial Holder not dealing at arm’s length for the purposes of the Tax Act with a “specified shareholder” of the Company at the time of payment or deemed payment (other than where the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has Beneficial Holder is a “specified shareholder,” or does not been received by or on behalf deal at arm’s length with a “specified shareholder,” as a result of the relevant Holder exercise or the beneficial owner on enforcement of rights under any Notes or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled any Note Guarantee); (3) Taxes giving rise to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been imposed but for the Holder; (h) on account existence of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations present or other official guidance thereunder, any intergovernmental agreement entered into in former connection therewith, any similar law between such Holder or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status Beneficial Holder (or the past or present status of between a fiduciary, settlor, beneficiary, member or shareholder of, or possessor person in possession of a power over, such Holder or beneficial ownerBeneficial Holder, if such Holder or beneficial owner Beneficial Holder is an estate, a trust, a partnership or a corporation) as and the Relevant Taxing Jurisdiction in which such Taxes are imposed (including being or having been a personal holding companycitizen, passive foreign investment companydomiciliary, resident or national of, or controlled foreign corporation for United States federal income tax purposescarrying on a business or maintaining a permanent establishment in, the Relevant Taxing Jurisdiction but not including any connection resulting solely from the acquisition, ownership, holding or as a corporation that accumulates earnings to avoid U.S. federal income taxdisposition of Notes, the receipt of payments thereunder and/or the exercise or enforcement of rights under any Notes or any Note Guarantee); (k4) when Taxes giving rise to such Additional Amounts that would not have been imposed but for the failure of such Holder or Beneficial Holder, to the extent such Holder or Beneficial Holder is legally eligible to do so, to comply with any written request, made to that Holder or Beneficial Holder in writing at least 90 days before any such withholding or deduction for French taxes would be payable, by the Payor to satisfy any certification, identification, information, documentation or other reporting requirements concerning such Holder’s or Beneficial Holder’s nationality, residence, identity or connection with the Relevant Taxing Jurisdiction, which is required by statute, treaty, regulation or administrative practice of a Relevant Taxing Jurisdiction as a precondition to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established inexemption from, or reduction in the rate of deduction or withholding of, such Taxes imposed by the Relevant Taxing Jurisdiction (y) paid or accrued to a person established or domiciled inincluding, without limitation, a non-cooperative State certification that the Holder or territory (Etat ou territoire non-coopératif) as defined Beneficial Holder is not resident in Article 238-0 A of the French Code général des impôtsRelevant Taxing Jurisdiction); (l5) when any estate, inheritance, gift, sales, transfer, personal property or any similar Taxes or assessment or any excise tax imposed on the transfer of the Notes; (6) any Taxes that are imposed with respect to any payment on a Note to any Holder who is a fiduciary, partnership, limited liability company or other fiscally transparent entity or person other than the sole Beneficial Owner of such payment and to the extent that no Additional Amounts would have been payable had the Beneficial Owner of the applicable Note been the holder of such Note; (7) Taxes imposed on, or deducted or withheld from, payments in respect of the Notes if such payments could have been made without such imposition, deduction or withholding of such Taxes had such Notes been presented for payment (where presentation is required) within 30 days after the date on which such payments or such Notes became due and payable or the date on which payment thereof is duly provided for, whichever is later (except to the extent such Holder or Beneficial Holder would have been entitled to such Additional Amounts had such Notes been presented on the last day of such 30-day period); (8) Taxes giving rise to such Additional Amounts that would not have been imposed but for the presentation of any Note for payment by or on behalf of a Holder who would have been able to avoid such withholding or deduction for French taxes by presenting the relevant Note to another paying agent; (9) any Tax which is required payable otherwise than by deduction or withholding from payments made under or with respect to be made by reason of the Holder Notes or the beneficial owner of the any Note concurrently being a shareholder of the Company or of Guarantee; (10) any GuarantorTaxes imposed under FATCA; or (m11) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts foregoing clauses (to the extent received from the relevant tax authorities in the usual course or as generally provided1) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. through (10). (c) At least 30 calendar days prior to each date on which any payment under or with respect to the Notes or the any Note Guarantees Guarantee is due and payable, if the Company or any Guarantor becomes a Payor will be obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th 35th day prior to the date on which such payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment datethereafter), the Company Payor will deliver to each Paying Agent the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, payable and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes and/or Beneficial Holders on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) The Trustee shall be entitled to rely solely on such Officers’ Certificate as conclusive proof that such payments are necessary. The Payor will provide the Trustee with documentation reasonably satisfactory to the Trustee evidencing the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or Additional Amounts. (d) The Payors will indemnify and hold harmless the Holders and Beneficial Holders of the Notes for the amount of any Taxes under Regulation 803 of the Tax Act, or any similar or successor provision, (other amount than Taxes described in Sections 4.16(b)(1) through (10) (but including, notwithstanding clause (9), any Taxes payable pursuant to Regulation 803 of the Tax Act) or Taxes arising by reason of a transfer of the Note to a person resident in Canada with whom the transferor does not deal at arm’s length for the purposes of the Tax Act except where such non-arm’s length relationship arises as a result of the exercise or enforcement of rights under any Notes or any Note Guarantee) levied or imposed on and paid by such a Holder or Beneficial Holder as a result of payments made under or with respect to any of the Notes or any Note Guarantee. (e) In addition, the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, Payor will pay and indemnify the Holder or Beneficial Holder for any present or future stamp, court issue, registration, transfer, court, documentation, excise, property or documentary taxes or any other excise or property taxessimilar Taxes, charges or and duties, including any interest, penalties and any similar levies that arise liabilities with respect thereto, imposed by any Relevant Taxing Jurisdiction (and, in the United Statescase of enforcement, the Republic of France or any jurisdiction) at any time in any jurisdiction in which a Paying Agent is located from the initial issue or registration respect of the Notes execution, issuance, registration, delivery or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture Guarantee or any other document related thereto or instrument referred to thereunder and any such Taxes, charges or duties imposed by any Relevant Taxing Jurisdiction on any payments made pursuant to the Notes or any Note Guarantee and/or any other such document or instrument (limited, solely in the case of Taxes taxes, charges or duties attributable to the receipt of any payments with respect thereto, to any such Taxes taxes, charges or duties imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses Sections 4.16(b)(3) through (k) and 8) or (l10) or any combination thereof). (f) The Payor will make all withholdings and deductions required by law and will remit the full amount deducted or withheld to the relevant Taxing Authority in accordance with applicable law. Upon request, the Payor will provide to the Trustee an official receipt or, if official receipts are not obtainable, other documentation reasonably satisfactory to the Trustee evidencing the payment of items (k) and (l) above)any Taxes so deducted or withheld. Upon request, the Trustee will make available to Holders copies of those receipts or other documentation, as the case may be. The Trustee will not be responsible for ensuring that the withholding and deduction of any amount has been properly made. Except as specifically provided above, the Payor shall not be required to make a payment with respect to any Tax imposed or levied by or within any Relevant Taxing Jurisdiction. (g) The obligations of the Company or any Guarantor described in under this Section 4.21 4.16 will survive any termination, defeasance or satisfaction and discharge of this Indenture or Indenture, any transfer by a holder Holder or beneficial owner Beneficial Holder of its notesNotes, and will apply, mutatis mutandis, apply (reflecting the applicable necessary changes) to any successor Person to any Payor and to any jurisdiction in which any such successor Person to the Company or any Guarantor is incorporated, engaged in organized or is otherwise resident or doing business for tax purposes or resident for tax purposes or any jurisdiction from or through which payment is made by such Person makes any payment on the Notes and successor or its respective agents or any department or any political subdivision thereof thereof. Whenever this Indenture refers to, in any context, the payment of principal, premium, if any, interest, redemption price, purchase price or thereinany other amount payable under or with respect to any Note or Note Guarantee, such reference shall include the payment of Additional Amounts or indemnification payments as described hereunder, if applicable.

Appears in 1 contract

Sources: Indenture (Ritchie Bros Auctioneers Inc)

Additional Amounts. All payments made by or on behalf of the Company any Issuer or any Guarantor under or any successor in interest to any of the foregoing (each, a “Payor”) on or with respect to the Notes or the Note Guarantees any Guarantee will be made free and clear of and without withholding or deduction for for, or on account of of, any present or future tax, duty, levy, impost, assessment or other similar governmental charge (including without limitationcollectively, penalties, interest and any other liability with respect thereto) (“Taxes”), ) unless the Company such withholding or any Guarantor (or any Paying Agent) deduction is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authoritylaw. If the Company any deduction or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for withholding for, or on account of of, any Taxes imposed or levied by or on behalf of of: (a) any jurisdiction in which (other than the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes United States or any political subdivision or governmental authority thereof or therein or any jurisdiction by having power to tax) from or through which payment on the Notes or any Guarantee is made by such Payor, or any political subdivision or governmental authority thereof or therein having the power to tax; or (eachb) any other jurisdiction (other than the United States or any political subdivision or governmental authority thereof or therein having the power to tax) in which a Payor that actually makes a payment on the Notes or its Guarantee is organized or otherwise considered to be a resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax, (each of clause (a) and (b), a “Relevant Taxing Jurisdiction”) ), will at any time be required from any payment payments made under or with respect to the Notes or the Note Guaranteesany Guarantee, including payments of principal, redemption price, interest or premium, if any, the Company or any such Guarantor Payor will pay to each Holder of the Notes that are outstanding on the date of the required payment, (together with such payments) such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount amounts received in respect of such payments by such Holder (including the Additional Amounts) Holders or the Trustee, as the case may be, after such withholding or deduction (including any such deduction or withholding from such Additional Amounts), will not be less than the amount such Holder amounts that would have been received if in respect of such Taxes had not been withheld payments on the Notes or deductedthe Guarantees in the absence of such withholding or deduction; provided, provided however, that no such Additional Amounts will be payable with respect to any Notefor or on account of: (ai) surrendered by any Taxes that would not have been so imposed or levied but for the Holder existence of any present or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of former connection between the relevant Holder (or the beneficial owner on between a fiduciary, settlor, beneficiary, partner, member or prior to such due dateshareholder of, or possessor of power over, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder orrelevant Holder, if different, the beneficial owner of the Note with a request addressed to such Holder is an estate, nominee, trust, partnership, limited liability company or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with corporation) and the Relevant Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Relevant Taxing Jurisdiction) but excluding, in each case, any connection arising solely from the acquisition, ownership or holding of such Notes or the receipt of any payment in respect thereof; (ii) any Taxes that would not have been so imposed or levied if the Holder of the Note had complied with a reasonable request in writing of the Payor (such request being made at a time that would enable such holder acting reasonably to comply with that request) to make a declaration of nonresidence or beneficial owner any other claim or filing or satisfy any certification, information or reporting requirement for exemption from, or reduction in the rate of, withholding to which it is entitled (provided that such declaration of nonresidence or other claim, filing or requirement is required or imposed by a statutethe applicable law, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from the requirement to deduct or withhold all or a part of any such tax, assessment or governmental chargeTaxes); (ciii) held any Taxes that are payable otherwise than by withholding from a payment on the Notes or any Guarantee; (iv) any estate, inheritance, gift, sales, excise, transfer, personal property or similar Taxes; (v) any Taxes that are required to be deducted or withheld on a payment pursuant to the Directive or any law implementing, or introduced in order to conform to, the Directive; (vi) any Taxes imposed in connection with a Note presented for payment by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of would have been able to avoid such Tax by presenting the relevant Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Noteto, or the receipt of payments made by or on behalf otherwise accepting payment from, another paying agent in a member state of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment thereinEuropean Union; (dvii) on account of any estateTaxes imposed pursuant to the Directive, inheritanceor any law implementing or complying with, giftor introduced in order to conform to, sale, transfer, personal property or other similar Tax, assessment or other governmental chargethe Directive; (eviii) except in the case any Taxes payable under Sections 1471 through 1474 of the winding up Code, as of the Company date of the Offering Circular (or any Guarantoramended or successor version that is substantively comparable and not materially more onerous to comply with), if such Note is surrendered for payment in the Republic of France;any current or future regulations or official interpretations thereof and any agreements (including any intergovernmental agreements) entered into pursuant thereto; or (fix) on account any combination of any Taxes that are the above. Such Additional Amounts will also not be payable otherwise than by (x) if the payment could have been made without such deduction or withholding from a if the beneficiary of the payment with respect had presented the Note for payment (where presentation is required) within 30 days after the relevant payment was first made available for payment to the Notes Holder or Note Guarantees; (gy) with respect to any payment made by or on behalf of where, had the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of the Note been the Holder of the Note, such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any payment of Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account by reason of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); clauses (i) on account of any U.S. federal withholding Taxes imposed as a result of to (viii) inclusive above. The Payor will (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of make any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and (2) remit the full amount deducted or withheld to the relevant taxing authority of the Relevant Taxing Jurisdiction in accordance with applicable law. The Company Upon request, the Payor will furnish, within 60 days after the date use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes is due pursuant to applicable law, so deducted or withheld from each relevant taxing authority of each Relevant Taxing Jurisdiction imposing such Taxes and will provide such certified copies to the Trustee. If, copies notwithstanding the efforts of tax such Payor to obtain such receipts, the same are not obtainable, such Payor will provide the Trustee with other reasonable evidence. Such receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been other evidence will be made available by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon on request. At If any Payor will be obligated to pay Additional Amounts under or with respect to any payment made on the Notes, at least 30 days prior to each the date on which any payment under or with respect of such payment, the Payor will deliver to the Notes or Trustee and the Note Guarantees is due Paying Agent an Officer’s Certificate stating the fact that Additional Amounts will be payable and payable, if the Company or any Guarantor becomes obligated amount so payable and such other information necessary to enable the Paying Agent to pay Additional Amounts with respect to such Holders on the relevant payment date (unless such obligation to pay Additional Amounts arises after the 30th day less than 45 days prior to the date on which relevant payment under or with respect to the Notes or the Note Guarantees is due and payabledate, in which case it will be paid promptly thereafter the Payor shall deliver such Officer’s Certificate and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary promptly as practicable after the date that is 30 days prior to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date, but no less than five Business Days prior thereto, and otherwise in accordance with the requirements of Euroclear or Clearstream, as applicable). Whenever Wherever in this Indenture Indenture, the Notes or any Guarantee there is mentioned, in any context, : (a1) the payment of principal principal, (and premium, if any), (b2) redemption prices or purchase prices in connection with a redemption or purchase of the Notes, (3) interest, or (c) interest or (d4) any other amount payable on or with respect to any of the Notes or the Note Guaranteesany Guarantee, such mention is reference shall be deemed to include mention of the payment of Additional Amounts provided for as described in this section Section 2.15 to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, Payor will pay any present or future stamp, court or documentary taxes Taxes, or any other excise or excise, property taxes, charges or similar levies Taxes that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located Relevant Taxing Jurisdiction from the execution, delivery, issuance, initial issue resale, registration or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the this Indenture or any other document related or instrument in relation thereto (limited, in case other than a transfer of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) aboveNotes). The foregoing obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company a Payor is organized or any Guarantor is incorporated, engaged in business for tax purposes or otherwise considered to be a resident for tax Tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision or taxing authority or agency thereof or therein. The Issuer and Guarantors shall ensure that no proceeds raised under the Notes will be used in a manner which would constitute a “use of proceeds in Switzerland” as interpreted by Swiss tax authorities for the purposes of Swiss Withholding Tax (Verrechnungssteuer), except and to the extent that a written confirmation or tax ruling countersigned by the Swiss Federal Tax Administration (Eidgenössische Steuerverwaltung) has been obtained confirming that the intended “use of proceeds in Switzerland” if guaranteed by a Swiss resident Guarantor does not result in the Notes qualifying as a Swiss notes issue for Swiss Withholding Tax purposes.

Appears in 1 contract

Sources: Indenture (Axalta Coating Systems Ltd.)

Additional Amounts. All (a) Except as required by law or by the official interpretation or administration thereof, the Borrower will make any and all payments made by or on behalf of the Company or any Guarantor under or with respect to the Notes or the Note Guarantees will be made this Agreement free and clear of and without withholding or deduction for or on account of any and all present or future tax, duty, levy, impost, assessment Taxes imposed or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) (“Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes levied by law or by the interpretation or administration thereof by the relevant taxing authoritya Taxing Jurisdiction. If the Company or any Guarantor (or any Paying Agent) Borrower is so required by law to withhold or deduct any amount for or on account of such Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (eachincluding, a “Relevant Taxing Jurisdiction”without limitation, Personal Assets Taxes) from any payment made under under, or with respect to the Notes or the Note Guaranteesto, the Company or any such Guarantor will pay to each Holder of Loan, except as provided below in Section 2.08(b), the Notes that are outstanding on sum payable by the date of the required payment, such Borrower shall be increased by additional amounts ("ADDITIONAL AMOUNTS") as may be necessary so that after the Borrower has made all required withholdings and deductions (including withholdings and deductions applicable to additional sums payable under this Section 2.08), (i) the Lender receives an amount not less than the sum it would have received had no such withholdings and deductions been made, (ii) the Borrower shall make all such withholdings and deductions and (iii) the Borrower shall pay the full amount withheld or deducted to the relevant Taxing Jurisdiction in accordance with applicable law. The Borrower further agrees that, in the form of event the Financial Trustee is required by law to withhold or deduct any such Taxes (xincluding, without limitation, Personal Assets Taxes) in from any payment made under, or with respect to, the Trust Notes, it will pay and/or reimburse, as the case of PIK Interestmay be, additional PIK Interest and (y) in other casesthe Financial Trustee, cash) (“as Lender, for such Additional Amounts”) Amounts as may be necessary so that the net amount received by such Holder the Noteholders (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder the Noteholders would have received if such Taxes had not been required to be withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period;. (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Notwithstanding Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date2.08(a), the Company Borrower will deliver not be obligated to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary make any payment pursuant to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (aSection 2.08(a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) in connection with any other amount payable on Tax that is, or with respect to is imposed due to, any of the Notes or following (and for the Note Guarantees, such mention is deemed to include mention avoidance of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United Statesdoubt, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to term "Additional Amounts" shall not include any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.amounts):

Appears in 1 contract

Sources: Credit Agreement (Quilmes Industrial Quinsa Societe Anonyme)

Additional Amounts. (a) All payments made by or on behalf of the Company or any the Guarantor under on or with respect to the Notes or the Note Guarantees will this Indenture shall be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and Taxes imposed by any other liability with respect thereto) (“Taxes”)Canadian Taxing Authority, unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authorityCanadian Taxing Authority. If the Company or any the Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect to the Notes or this Indenture, it shall: (i) make or cause to be made such withholding or deduction; (ii) remit or cause to be remitted the Note Guarantees, full amount deducted or withheld to the Company or any such Guarantor will relevant Canadian Taxing Authority in accordance with applicable law; (iii) pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such each Holder or the Trustee (including the Additional Amounts) after such withholding or deduction (including any withholding or deduction from Additional Amounts) will not be less than the amount such the Holder or the Trustee would have received if such Taxes withholding or deduction had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note:required; (aiv) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given furnish to the Holders or the beneficial owners by and the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable lawdue, to the Trustee, certified copies of tax receipts evidencing such payment by the Issuer or a Guarantor, as applicable; (v) indemnify and hold harmless each Holder (other than an Excluded Holder, as defined in paragraph (b) below) and the Trustee for the amount of (i) any Taxes paid by each such Holder as a result of payments made on or with respect to the extent received Notes or the Indenture, (ii) any liability (including penalties, interest and expenses) arising from or with respect to such payments and (iii) any Taxes imposed with respect to any reimbursement under the relevant tax authorities foregoing clauses (i) or (ii), but excluding any such Taxes that are in the usual course or as generally providednature of taxes on net income, taxes on capital, franchise taxes, net worth taxes and similar taxes; and (vi) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At at least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any the Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior payment, deliver to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent Trustee an Officers’ Officer’s Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever For greater certainty, the obligation to indemnify under (v) above will extend to Taxes (other than Taxes that are excluded under (v) above) paid by a Holder (other than a Holder referred to in this Indenture there (i) in paragraph (b) below) in respect of which the Company or the Guarantor is mentionednot obliged to withhold as a result of the Holder’s status as an authorized foreign bank or a registered non-resident insurer (each as defined in the Income Tax Act (Canada)) (or other entity exempt from withholding on a basis comparable to authorized foreign banks and registered non-resident insurers) where such Holder must itself pay Taxes imposed by a Canadian Taxing Authority in lieu of withholding taxes. (b) Notwithstanding the provisions of paragraph (a) above, no Additional Amounts shall be payable to a Holder in respect of the beneficial owner of a Security (an “Excluded Holder”): (i) with which the Company or the Guarantor, as the case may be, does not deal at arm’s-length, within the meaning of the Income Tax Act (Canada), at the time of making such payment; (ii) which is subject to such Taxes by reason of its being connected with Canada or any province or territory thereof, including by virtue of carrying on a business in Canada, otherwise than by the mere acquisition, holding or disposition of Notes or the receipt of payments thereunder or enforcement of rights thereunder; or (iii) if such Holder waives its right to receive Additional Amounts. Any reference, in any contextcontext in this Indenture, (a) to the payment of principal (and principal, premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) redemption price and interest or (d) any other amount payable on under or with respect to any of the Notes or the Note GuaranteesNotes, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above)payable. The obligations of the Company or any Guarantor described in under this Section 4.21 4.18 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company or any Guarantor the Guarantor, as applicable, is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department organized or any political subdivision or taxing authority or agency thereof or therein.

Appears in 1 contract

Sources: Indenture (World Color Press Inc.)

Additional Amounts. All payments made by or on behalf Unless otherwise specified in any Board Resolution of the Company Guarantor establishing the Guarantees relating a series of Securities in accordance with Section 301, if any deduction or withholding for any present or future taxes, assessments or other governmental charges of the jurisdiction (or any political subdivision or taxing authority thereof or therein) in which the Guarantor is incorporated, shall at any time be required by such jurisdiction (or any such political subdivision or taxing authority) in respect of any amounts to be paid by the Guarantor under or the Guarantees, the Guarantor will pay to the Holder of a Security of such series such additional amounts as may be necessary in order that the net amounts paid to such Holder of such Security who, with respect to any such tax, assessment or other governmental charge, is not resident in such jurisdiction, after such deduction or withholding, shall be not less than the Notes or amounts specified in such Security to which such Holder is entitled; provided, however, that the Note Guarantees will Guarantor shall not be made free and clear required to make any payment of and without withholding or deduction additional amounts (1) for or on account of any present or future such tax, duty, levy, impostassessment or governmental charge imposed by the United States or any political subdivision or taxing authority thereof or therein or (2) for or on account of: (a) any tax, assessment or other governmental charge which would not have been imposed but for (including without limitation, penalties, interest and i) the existence of any other liability with respect thereto) (“Taxes”), unless the Company present or any Guarantor former connection between such Holder (or any Paying Agentbetween a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder, if such Holder is an estate, trust, partnership or corporation) is required to withhold or deduct Taxes by law or by and the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any jurisdiction in which the Company or any Guarantor (including any successor entities) is then organized or resident for Tax purposes or any political subdivision or territory or possession thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) from any payment made under or with respect area subject to the Notes or the Note Guarantees, the Company or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so that the net amount received by such Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such Taxes had not been withheld or deducted, provided that no Additional Amounts will be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guaranteeits jurisdiction, including, without limitation, such Holder (or beneficial owner such fiduciary, settlor, beneficiary, member, shareholder or possessor) being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having or having had a permanent establishment thereintherein or (ii) the presentation of a Security of such series (where presentation is required) for payment on a date more than 30 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later; (db) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Taxtax, assessment or other governmental charge; (ec) except any tax, assessment or other governmental charge which is payable otherwise than by withholding from payments of (or in respect of) principal of, or any interest on, the Securities of such series; (d) any tax, assessment or other governmental charge that is imposed or withheld by reason of the failure by the Holder or the beneficial owner of the Security of such series (i) to provide information concerning the nationality, residence or identity of the Holder or such beneficial owner or (ii) to make any declaration or other similar claim or satisfy any information or reporting requirements, which, in the case of the winding up (i) or (ii), is required or imposed by a statute, treaty, regulation or administrative practice of the Company taxing jurisdiction as a precondition to exemption from all or any Guarantorpart of such tax, if such Note is surrendered for payment in the Republic of France;assessment or other governmental charge; or (fe) on account any combination of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; items (ga), (b), (c) and (d) above; nor shall additional amounts be paid with respect to any payment made by or on behalf of the Company principal of, or any Guarantor in respect interest on, any Security of any Note or Note Guarantee such series to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that such payment would be required by the laws of the jurisdiction (or any political subdivision or taxing authority thereof or therein) to be included in the income for tax purposes of a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to any Additional Amounts such additional amounts had such beneficiary or settlor or beneficial owner it been the Holder; (h) on account Holder of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect such Security. The foregoing provisions shall apply mutatis mutandis to any of the foregoing, withholding or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) deduction for or on account of any Taxpresent or future taxes, duty, assessment assessments or governmental charge imposed by reason charges of whatever nature of any jurisdiction in which any successor Person to the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder ofGuarantor is organized, or possessor of a power overany political subdivision or taxing authority thereof or therein; provided, such Holder or beneficial ownerhowever, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above. The Company or any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made of -------- ------- additional amounts may be subject to such further exceptions as may be established in the terms of such Securities established as contemplated by the Company or any GuarantorSection 301. The Trustee will make such evidence available Subject to the Holders upon request. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payableforegoing provisions, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever whenever in this Indenture there is mentioned, in any context, (a) the payment of the principal (and premiumof or any premium or interest on, if any)66 or in respect of, (b) purchase prices in connection with a purchase any Security of the Notes, (c) interest any series or (d) payment of any other amount payable on or with respect to any of the Notes related coupon or the Note Guaranteesnet proceeds received on the sale or exchange of any Security of any series, such mention is shall be deemed to include mention of the payment of Additional Amounts additional amounts provided for in this section Section to the extent, extent that, in such context, Additional Amounts additional amounts are, were or would be payable in respect thereofthereof pursuant to the provisions of this Section and express mention of the payment of additional amounts (if applicable) in any provisions hereof shall not be construed as excluding additional amounts in those provisions hereof where such express mention is not made. The Company or If the terms of the Securities of a series established as contemplated by Section 301 do not specify that additional amounts pursuant to the Section will not be payable by the Guarantor, as at least 10 days prior to the case may be, first Interest Payment Date with respect to that series of Securities (or if the Securities of that series will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United Statesnot bear interest prior to Maturity, the Republic of France or in any jurisdiction in first day on which a Paying Agent payment of principal and any premium is located from the initial issue made), and at least 10 days prior to each date of payment of principal and any premium or registration of the Notes or on the enforcement of interest if there has been any payments change with respect to the Notesmatters set forth in the below-mentioned Officers' Certificate, the Guarantor will furnish the Trustee and the Company's principal Paying Agent or Paying Agents, if other than the Trustee, with an Officers' Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and any premium or interest on the Securities of that series or under the related Guarantees shall be made to Holders of Securities of that series without withholding for or on account of any tax, assessment or other governmental charge described in the Securities of that series or the related Guarantees. If any such withholding shall be required, then such Officers' Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders of Securities and the Guarantor (only if a payment under said Guarantees is then due) will pay to the Trustee or such Paying Agent or Paying Agents the additional amounts required by this Section. The Guarantor covenants to indemnify each of the Trustee and any Paying Agent for, and to hold each of them harmless against, any Note Guaranteeloss, the Indenture liability or expense arising out of or in connection with actions taken or omitted by any other document related thereto (limitedof them in reliance on any Officer's Certificate furnished pursuant to this Section, in case of Taxes attributable except to the receipt of payments thereto, to extent that any such Taxes imposed loss, liability or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) expense is due to its own negligence or any combination of items (k) and (l) above)bad faith. The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.ARTICLE ELEVEN

Appears in 1 contract

Sources: Indenture (Bp PLC)

Additional Amounts. All payments made by or on behalf of the Company Issuer or any Guarantor as well as all payments made by a trustee (each, a “Payor”) pursuant to Article 8 hereof under or with respect to the Notes or the Note Guarantees any Guarantee will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect liabilities related thereto) (collectively, “Taxes”), unless the Company or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied by or on behalf of any government or political subdivision or territory or possession of any government or authority or agency or authority therein or thereof having the power to tax in any jurisdiction in which the Company Issuer or any Guarantor (including any successor entitiestheir permitted successors and assigns) is then organized incorporated, engaged in business or resident for Tax tax purposes or any political subdivision thereof or therein or any jurisdiction by or through which payment is made (each, a “Relevant Taxing Jurisdiction”) unless such Payor is required to withhold or deduct Taxes by law or by the official interpretation or administration thereof. If a Payor is so required to withhold or deduct any amount of interest for or on account of Taxes from any payment made under or with respect to the Notes or the Note Guarantees, the Company or any Guarantee such Guarantor Payor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) interest (“Additional Amounts”) as may be necessary so such that the net amount received in respect of such payment by such each Holder (including the Additional Amounts) after such withholding or deduction will not be less than the amount such the Holder would have received if such Taxes had not been required to be so withheld or deducted, ; provided that no Additional Amounts will be payable with respect to any Note:a payment made to a Holder to the extent (a) surrendered any such Taxes would not have been imposed but for the existence of any present or former connection between such Holder and the Relevant Jurisdiction imposing such Taxes otherwise than merely by the Holder acquisition, ownership or disposition of any Note or receiving any payment in respect thereof or the beneficial owner thereof for payment exercise or enforcement of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder any rights under any Notes or the beneficial owner on or prior to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period;Guarantees or (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein; (d) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is imposed pursuant to sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, (the “Code”), any regulations or other official guidance thereunder, any intergovernmental agreement entered into in connection therewith, any similar law or regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to any of the foregoing, or any agreements entered into pursuant to section 1471(b)(1) of the Code (any such Tax, “FATCA Withholding”); (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within the meaning of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a partnership or a corporation) as a personal holding company, passive foreign investment company, or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is imposed on a payment to an individual and is required to be made by reason pursuant to European Council Directive 2003/48/EC or any other Directive implementing the conclusions of that payment being (x) paid to a bank account opened in a financial institution established inthe ECOFIN Council meeting of 26-27 November 2000 on the taxation of savings income or any law implementing or complying with, or introduced in order to conform to, such Directive (ysuch amounts described in clause (a) paid or accrued to a person established or domiciled inabove and this clause (b), a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantor; or (m) on account of any combination of the above“Excluded Taxes”). The Company or any Guarantor Each Payor will also (i) make such withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company Payor will furnishfurnish to the Holders of the Notes, within 60 30 days after the date the payment of any Taxes is due pursuant to applicable law, to the Trustee, certified copies of tax receipts evidencing such payment by such Payor. Each of the Issuer and each Guarantor will indemnify and hold harmless each Holder for the amount of (i) any Taxes (other than Excluded Taxes) not withheld or deducted by a Payor and levied or imposed and paid by such Holder as a result of payments made under or with respect to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company Notes or any Guarantor. The Trustee will make such evidence available Guarantee, (ii) any liability (including penalties, interest and expenses) arising therefrom or with respect thereto, and (iii) any Taxes imposed with respect to the Holders upon requestany reimbursement under clause (i) or (ii) above. At least 30 days prior to each date on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes a Payor is aware that it will be obligated to pay Additional Amounts with respect to such payment (unless payment, such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company Payor will deliver to each Paying Agent the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount amounts so payable and will set forth such other information as necessary to enable such Paying Agent the Trustee to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this the Indenture there is mentioned, in any context, (a) the payment of principal (and premium, if any), (b) purchase prices in connection with a purchase of the Notes, (c) interest or (d) any other amount payable on under or with respect to any of the Notes Note or the Note Guaranteesany Guarantee, such mention is shall be deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company Issuer or a Guarantorthe Guarantors, as the case may be, will pay any present or future stamp, transfer, court or documentary taxes taxes, or any other excise or property taxes, charges or similar levies that which arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue original execution, delivery or registration of the Notes or on Notes, the initial resale thereof by the Initial Purchaser and the enforcement of the Notes, the Guarantees or the Collateral Agreements following the occurrence of any payments Event of Default with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 foregoing provisions will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, the Notes and will apply, shall apply mutatis mutandis, mutandis to any jurisdiction in which any successor Person to the Company Issuer or any Guarantor Guarantor, as the case may be, is organized, incorporated, engaged in business for tax purposes or business, resident for tax purposes purposes, or any jurisdiction from or through which such Person makes any payment otherwise subject to taxation on the Notes and any department a net income basis or any political subdivision sub-divisions or taxing authority or agency thereof or therein.

Appears in 1 contract

Sources: Indenture (Edgen Murray PLC)

Additional Amounts. All With respect to any payments made by or on the behalf of the Company Issuer or any a Guarantor under or with in respect to of the Notes or any Guarantee of the Notes, as applicable, the Issuer or such Guarantor will make all payments of principal of, premium, if any, and interest on (whether on scheduled payment dates or upon acceleration) and the Redemption Price, if any, payable in respect of any Note Guarantees will be made free and clear of and without deduction or withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including without limitation, penalties, interest and any other liability with respect thereto) liabilities related thereto (“Taxes”)) imposed, unless the Company levied, collected, withheld or any Guarantor (or any Paying Agent) is required to withhold or deduct Taxes by law or by the interpretation or administration thereof by the relevant taxing authority. If the Company or any Guarantor (or any Paying Agent) is so required to withhold or deduct any amount for or on account of Taxes imposed or levied assessed by or on behalf of any jurisdiction in which the Company Issuer or any such Guarantor (including any successor entities) is then organized incorporated or organized, engaged in business for tax purposes or otherwise resident for Tax purposes tax purposes, or any political subdivision thereof or taxing authority therein or and any jurisdiction by or through which any payment is made on behalf of the Issuer or any Guarantor (including the jurisdiction of any Paying Agent) (each, a “Relevant Taxing Jurisdiction”) from ), upon or as a result of such payments, unless required by law or by the official interpretation or administration thereof. To the extent that any payment made under such Taxes are so levied or with respect to the Notes or the Note Guaranteesimposed, the Company Issuer or any such Guarantor will pay to each Holder of the Notes that are outstanding on the date of the required payment, such additional amounts (in the form of (x) in the case of PIK Interest, additional PIK Interest and (y) in other cases, cash) (“Additional Amounts”) as may be necessary so in order that the net amount received by such each Holder (including the Additional Amounts) ), after withholding for or on account of such withholding Taxes imposed upon or deduction as a result of such payment, will not be less than the amount such Holder that would have been received if had such Taxes had taxes not been withheld imposed or deducted, provided levied; except that no such Additional Amounts will shall be payable with respect to any Note: (a) surrendered by the Holder or the beneficial owner thereof for a payment of principal more than 30 days after the later of (1) the date on which such payment first became due and (2) if the full amount payable has not been received by or on behalf of the relevant Holder or the beneficial owner on or prior made to such due date, the date on which, the full amount having been so received, notice to that effect shall have been given to the Holders or the beneficial owners by the Trustee, except to the extent that the Holder would have been entitled to such Additional Amounts on surrendering such Note for payment on any day during the applicable 30-day period; (b) if any Tax, assessment or other governmental charge is imposed or withheld by reason of the failure to comply by the Holder or, if different, the beneficial owner of the Note with a request addressed to such Holder or beneficial owner to provide information, documents or other evidence concerning the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner which is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or governmental charge; (c) held by or on behalf of a Holder or beneficial owner who is liable for Taxes in respect of such Note by reason of having some connection with the Relevant Taxing Jurisdiction other than the mere purchase, holding or disposition of any a Note, or the receipt of payments made by or on behalf of the Company or any Guarantor in respect thereof or any Note Guarantee, including, without limitation, such Holder or beneficial owner being or having been a citizen or resident thereof or being or having been present or engaged in a trade or business therein or having had a permanent establishment therein;: (d1) on account of any estate, inheritance, gift, sale, transfer, personal property or other similar Tax, assessment or other governmental charge; (e) except in the case of the winding up of the Company or any Guarantor, if such Note is surrendered for payment in the Republic of France; (f) on account of any Taxes that are payable otherwise than by deduction or withholding from a payment with respect to the Notes or Note Guarantees; (g) with respect to any payment made by or on behalf of the Company or any Guarantor in respect of any Note or Note Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that a beneficiary or settlor or beneficial owner would not have been entitled to any Additional Amounts had such beneficiary or settlor or beneficial owner been the Holder; (h) on account of any Tax that is Taxes are imposed pursuant to sections Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, amended (the “Code”), any current or future regulations or other official guidance thereunderinterpretations thereof, any intergovernmental agreement entered into in connection therewithfiscal or regulatory legislation, any similar law rules or regulation practices adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States States, with respect to any of the foregoing, forgoing or any agreements entered into pursuant to section Section 1471(b)(1) of the Code (any such Tax, FATCA WithholdingFATCA);) and/or the UK’s International Tax Compliance Regulations 2015; or (i) on account of any U.S. federal withholding Taxes imposed as a result of (1) Holder’s or beneficial owner’s past or present actual or constructive ownership of 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (2) such Holder’s or beneficial owner’s being a bank receiving such interest pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in section 881(c)(3)(A) of the Code, (3) such Holder’s or beneficial owner’s being a “controlled foreign corporation” within the meaning of section 957 of the Code that is related to the Company within extent that such Taxes would not have been so imposed, levied or assessed but for the meaning existence of section 864(d)(4) of the Code, or (4) the Holder’s or beneficial owner’s failure to fulfil the statement requirements of Section 871(h) or 881(c) of the Code; (j) for or on account of any Tax, duty, assessment or governmental charge imposed by reason of the Holder’s or beneficial owner’s past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if some connection between such Holder or beneficial owner is an estate, a trust, a partnership of such Note and the Taxing Jurisdiction imposing such Taxes other than the mere holding or a corporation) as a personal holding company, passive foreign investment company, enforcement of such Note or controlled foreign corporation for United States federal income tax purposes, or as a corporation that accumulates earnings to avoid U.S. federal income tax; (k) when such withholding or deduction for French taxes is required to be made by reason receipt of that payment being (x) paid to a bank account opened in a financial institution established in, or (y) paid or accrued to a person established or domiciled in, a non-cooperative State or territory (Etat ou territoire non-coopératif) as defined in Article 238-0 A of the French Code général des impôts; (l) when such withholding or deduction for French taxes is required to be made by reason of the Holder or the beneficial owner of the Note concurrently being a shareholder of the Company or of any Guarantorpayments thereunder; or (m3) to the extent that such Taxes would not have been so imposed, levied or assessed but for the failure of the Holders or beneficial owners of such Note to comply with a reasonable written request by the Issuer (or its agent) to make a valid declaration of non-residence or any other claim or filing for exemption to which it is entitled (but only to the extent it is legally entitled to do so); or (4) that presents such Note for payment (where presentation is required) more than 30 days after the date on account which such payment became due and payable or the date on which payment of the Note is duly provided for and notice is given to Holders, whichever occurs later, except to the extent that the Holder or beneficial owner of such Note would have been entitled to such Additional Amounts on presenting such Note on any date during such 30-day period; or (5) in the case of a payment made by or on behalf of the Issuer or any Guarantor organized under the laws of the United States, any state thereof or the District of Columbia, with respect to any United States withholding taxes, so long as such withholding taxes are summarized in the prospectus supplement, dated September 5, 2018, in the discussion under the caption “Certain Material Income Tax Consequences—United States Taxation” or the Issuer or such Guarantor (pursuant to Section 1.06 of the Original Indenture) provides reasonable notice regarding potential United States withholding taxes and requests Holders and beneficial owners to provide applicable U.S. tax forms; or (6) any combination of the above. The Company or As used herein and for purposes of the Indenture and the Notes, any Guarantor will also make such withholding or deduction and remit the full amount deducted or withheld reference to the relevant authority in accordance with applicable law. The Company will furnish, within 60 days after the date the payment principal of any Taxes is due pursuant to applicable law, to the Trustee, copies of tax receipts (to the extent received from the relevant tax authorities in the usual course or as generally provided) evidencing that such payment has been made by the Company or any Guarantor. The Trustee will make such evidence available to the Holders upon request. At least 30 days prior to each date and interest on which any payment under or with respect to the Notes or the Note Guarantees is due and payable, if the Company or any Guarantor becomes obligated to pay Additional Amounts with respect to such payment (unless such obligation to pay Additional Amounts arises after the 30th day prior to the date on which payment under or with respect to the Notes or the Note Guarantees is due and payable, in which case it will be paid promptly thereafter and in any case before the relevant payment date), the Company will deliver to each Paying Agent an Officers’ Certificate stating the fact that such Additional Amounts will be payable, and the amount so payable and will set forth such other information as necessary to enable such Paying Agent to pay such Additional Amounts to the Holders of the Notes on the payment date. Whenever in this Indenture there is mentioned, in any context, (a) the payment of principal (and premiumRedemption Price, if any), shall be deemed to include a reference to any related Additional Amounts payable in respect of such amounts. The Issuer will also pay any stamp, registration, excise or property taxes and any other similar levies (bincluding any interest and penalties related thereto) purchase prices in connection with a purchase imposed by any Taxing Jurisdiction on the execution, delivery, registration or enforcement of any of the Notes, (c) interest or (d) any other amount payable on or with respect to any of the Notes or the Note Guarantees, such mention is deemed to include mention of the payment of Additional Amounts provided for in this section to the extent, that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company or a Guarantor, as the case may be, will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in the United States, the Republic of France or in any jurisdiction in which a Paying Agent is located from the initial issue or registration of the Notes or on the enforcement of any payments with respect to the Notes, any Note Guarantee, the Indenture or any other document related thereto (limited, in case of Taxes attributable or instrument referred to the receipt of payments thereto, to any such Taxes imposed or withheld in a Relevant Taxing Jurisdiction that are not excluded under clauses (k) and (l) or any combination of items (k) and (l) above). The obligations of the Company or any Guarantor described in this Section 4.21 will survive any termination, defeasance or satisfaction and discharge of this Indenture or any transfer by a holder or beneficial owner of its notes, and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company or any Guarantor is incorporated, engaged in business for tax purposes or resident for tax purposes or any jurisdiction from or through which such Person makes any payment on the Notes and any department or any political subdivision thereof or therein.

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Sources: Third Supplemental Indenture (Willis Towers Watson PLC)