Collecting Agent Rules Clause Samples

Collecting Agent Rules. 54 --- ---------------------- 5.2 U.K. LENDER REPRESENTATION......................................................54 --- -------------------------- 5.3 CANADIAN LENDER REPRESENTATION..................................................55 --- ------------------------------ 5.4 U.S. LENDER OBLIGATIONS.........................................................55 --- ----------------------- 5.5 INCREASED COSTS.................................................................56 --- --------------- 5.6 ILLEGALITY......................................................................58 --- ---------- 5.7 MITIGATION......................................................................58 --- ---------- 5.8 TAXES...........................................................................60 --- ----- 5.9 TAX REFUND......................................................................62 --- ----------

Collecting Agent Rules. Each U.K. Lender represents to the U.K. Facility Agent and the Administrative Agent that, in the case of a U.K. Lender which is a U.K. Lender on the date of this Agreement and, in case of a U.K. Lender which becomes a U.K. Lender after the date of this Agreement, on the date it becomes a U.K. Lender, in relation to the Facility, it is: (a) either: (i) not resident in the United Kingdom for United Kingdom tax purposes; or (ii) a bank as defined in Section 840A of the United Kingdom Income and Corporation Taxes Act, 1988 and resident in the United Kingdom; and (b) beneficially entitled to the principal and interest payable to it under this Agreement, (or, if it is not able to make those representations, will ensure that it assigns, transfers or novates its rights in respect of each Advance to a U.K. Designated Subsidiary then made (or, if made later, when made) to an entity in respect of which both representations in Subsections (a) and (b) are correct) and, if it is able to make those representations on the date of this Agreement or the date it becomes a U.K. Lender, shall forthwith notify the Administrative Agent if either representation ceases to be correct.

Collecting Agent Rules. Each Bank confirms in favour of the Agent (on the date hereof or, in the case of a Bank which becomes a party hereto pursuant to an assignment or transfer, on the date on which the relevant assignment or transfer becomes effective) that either: (a) it is not resident for tax purposes in the United Kingdom and is beneficially entitled to the principal and interest payable by the Agent to it under this Agreement; or (b) it is a Bank as defined in section 840A of the Income and Corporation Taxes Act 1998 and is beneficially entitled to the principal and interest payable by the Agent to it under this Agreement, and each Bank shall promptly notify the Agent if there is any change in its position from that set out above.