Common use of Evidence of deductions Clause in Contracts

Evidence of deductions. If at any time the Borrower is required by law to make any deduction or withholding from any payment to be made by it to the Lender Finance Parties pursuant to any of the Security Documents, the Borrower will pay the amount required to be deducted or withheld to the relevant authority within the time allowed under the applicable law and will, no later than thirty (30) days after making that payment, deliver to the Agent an original receipt issued by the relevant authority, or other evidence reasonably acceptable to the Agent, evidencing the payment to that authority of all amounts required to be deducted or withheld. If the Borrower makes any deduction or withholding from any payment to the Lender Finance Parties under or pursuant to any of the Security Documents, and a Lender subsequently receives a refund or allowance from any tax authority which that Lender at its sole discretion (acting reasonably and in good faith) identifies as being referable to that deduction or withholding, that Lender shall within five (5) Business Days of receipt of the same, pay to the Borrower an amount equal to the amount of the refund or allowance received, if and to the extent that it may do so without prejudicing its right to retain that refund or allowance and without putting itself in any worse financial position than that in which it would have been had the deduction or withholding not been required to have been made. Nothing in this clause 13.4 shall be interpreted as imposing any obligation on any Lender to apply for any refund or allowance nor as restricting in any way the manner in which any Lender organises its tax affairs, nor as imposing on any Lender any obligation to disclose to the Borrower any information regarding its tax affairs or tax computations. All costs and expenses incurred by any Lender in obtaining or seeking to obtain a refund or allowance from any tax authority pursuant to this clause 13.4 shall be for the Borrower’s account.

Evidence of deductions. If at any time the Borrower is required by law to make any deduction or withholding from any payment to be made by it to the Lender Finance Parties pursuant to any of the Security Documents, the Borrower will pay the amount required to be deducted or withheld to the relevant authority within the time allowed under the applicable law and will, no later than thirty (30) days after making that payment, deliver to the Agent an original receipt issued by the relevant authority, or other evidence reasonably acceptable to the Agent, evidencing the payment to that authority of all amounts required to be deducted or withheld. If the Borrower makes any deduction or withholding from any payment to the Lender Finance Parties under or pursuant to any of the Security Documents, and a Lender Bank subsequently receives a refund or allowance from any tax authority which that Lender Bank at its sole discretion (acting reasonably and in good faith) identifies as being referable to that deduction or withholding, that Lender shall within five (5) Business Days of receipt of the sameBank shall, as soon as reasonably practicable, pay to the Borrower an amount equal to the amount of the refund or allowance received, if and to the extent that it may do so without prejudicing its right to retain that refund or allowance and without putting itself in any worse financial position than that in which it would have been had the deduction or withholding not been required to have been made. Nothing in this clause 13.4 Clause shall be interpreted as imposing any obligation on any Lender Bank to apply for any refund or allowance nor as restricting in any way the manner in which any Lender Bank organises its tax affairs, nor as imposing on any Lender Bank any obligation to disclose to the Borrower any information regarding its tax affairs or tax computations. All costs and expenses incurred by any Lender Bank in obtaining or seeking to obtain a refund or allowance from any tax authority pursuant to this clause 13.4 Clause shall be for the Borrower’s 's account.

Evidence of deductions. If at any time the Borrower is required by law to make any deduction or withholding from any payment to be made by it to the Lender Finance Parties pursuant to any of the Security Documents, the Borrower will pay the amount required to be deducted or withheld to the relevant authority within the time allowed under the applicable law and will, no later than thirty (30) days after making that payment, deliver to the Agent an original receipt issued by the relevant authority, or other evidence reasonably acceptable to the Agent, evidencing the payment to that authority of all amounts required to be deducted or withheld. If the Borrower makes any deduction or withholding from any payment to the Lender Finance Parties under or pursuant to any of the Security Documents, and a Lender Bank subsequently receives a refund or allowance from any tax authority which that Lender Bank at its sole discretion (acting reasonably and in good faith) identifies as being referable to that deduction or withholding, that Lender shall within five (5) Business Days of receipt of the sameBank shall, as soon as reasonably practicable, pay to the Borrower an amount equal to the amount of the refund or allowance received, if and to the extent that it may do so without prejudicing its right to retain that refund or allowance and without putting itself in any worse financial position than that in which it would have been had the deduction or withholding not been required to have been made. Nothing in this clause 13.4 Clause shall be interpreted as imposing any obligation on any Lender Bank unless requested by the Borrower to apply for any refund or allowance nor as restricting in any way the manner in which any Lender Bank organises its tax affairs, nor as imposing on any Lender Bank any obligation to disclose to the Borrower any information regarding its tax affairs or tax computations. All costs and expenses incurred by any Lender Bank in obtaining or seeking to obtain a refund or allowance from any tax authority pursuant to this clause 13.4 Clause shall be for the Borrower’s 's account.