{"component": "clause", "props": {"groups": [{"samples": [{"hash": "76C101mhcH3", "uri": "/contracts/76C101mhcH3#fatca-deduction", "label": "Bridge Facility Agreement", "score": 33.7178115845, "published": true}, {"hash": "c5vHTTNfowJ", "uri": "/contracts/c5vHTTNfowJ#fatca-deduction", "label": "Facility Agreement (Seanergy Maritime Holdings Corp.)", "score": 33.2532501221, "published": true}, {"hash": "dw4SXanNP9u", "uri": "/contracts/dw4SXanNP9u#fatca-deduction", "label": "Loan Agreement (Hafnia LTD)", "score": 33.2477760315, "published": true}], "snippet": "Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction.", "snippet_links": [{"key": "each-party", "type": "clause", "offset": [0, 10]}, {"key": "payment-required", 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Each party to a Finance Document may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and shall not be required to increase any payment in respect of which it makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction.\n(b) Each party to a Finance Document shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change in the rate or the basis of such FATCA Deduction), notify the party to a Finance Document to whom it is making the payment and, in addition, shall notify the Borrowers and the Agent and the Agent shall notify the other Creditor Parties.", "snippet_links": [{"key": "each-party", "type": "clause", "offset": [4, 14]}, {"key": "finance-document", "type": "clause", "offset": [20, 36]}, {"key": "payment-required", "type": "clause", "offset": [107, 123]}, {"key": "in-connection-with", "type": "clause", "offset": [124, 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notify the other Finance Parties.", "snippet_links": [{"key": "each-party", "type": "clause", "offset": [4, 14]}, {"key": "payment-required", "type": "clause", "offset": [85, 101]}, {"key": "in-connection-with", "type": "clause", "offset": [102, 120]}, {"key": "no-party", "type": "clause", "offset": [147, 155]}, {"key": "in-respect-of", "type": "definition", "offset": [198, 211]}, {"key": "the-recipient", "type": "definition", "offset": [274, 287]}, {"key": "payment-for", "type": "clause", "offset": [295, 306]}, {"key": "change-in", "type": "definition", "offset": [438, 447]}, {"key": "the-rate", "type": "clause", "offset": [448, 456]}, {"key": "basis-of", "type": "clause", "offset": [464, 472]}, {"key": "the-party", "type": "clause", "offset": [503, 512]}, {"key": "in-addition", "type": "clause", "offset": [551, 562]}, {"key": "the-agent-shall", "type": "clause", "offset": [608, 623]}, {"key": "finance-parties", "type": "definition", "offset": [641, 656]}], "size": 385, "hash": "a8520d64dc32ce02702533c7460b42bf", "id": 1}, {"samples": [{"hash": "7RZCqIhmXf5", "uri": "/contracts/7RZCqIhmXf5#fatca-deduction", "label": "Loan Agreement (Kosmos Energy Ltd.)", "score": 33.5927429199, "published": true}, {"hash": "h3Okuc4zmK6", "uri": "/contracts/h3Okuc4zmK6#fatca-deduction", "label": "Loan Agreement (Kosmos Energy Ltd.)", "score": 32.8453102112, "published": true}, {"hash": "8cSZNUr0fGb", "uri": "/contracts/8cSZNUr0fGb#fatca-deduction", "label": "Deed of Amendment and Restatement (Kosmos Energy Ltd.)", "score": 29.3449687958, "published": true}], "snippet": "(A) Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction.\n(B) Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change in the rate or the basis of such FATCA Deduction), and in any case at least three Business Days prior to making a FATCA Deduction, notify the Party to whom it is making the payment and, on or prior to the day on which it notifies that Party, shall also notify the Original Borrower, the Facility Agent and the other Finance Parties.", "snippet_links": [{"key": "each-party", "type": "clause", "offset": [4, 14]}, {"key": "payment-required", "type": "clause", "offset": [85, 101]}, {"key": "in-connection-with", "type": "clause", "offset": [102, 120]}, {"key": "no-party", "type": "clause", "offset": [147, 155]}, {"key": "in-respect-of", "type": "definition", "offset": [198, 211]}, {"key": "the-recipient", "type": "definition", "offset": [274, 287]}, {"key": "payment-for", "type": "clause", "offset": [295, 306]}, {"key": "change-in", "type": "definition", "offset": [438, 447]}, {"key": "the-rate", "type": "clause", "offset": [448, 456]}, {"key": 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Facility (Okeanis Eco Tankers Corp.)", "score": 37.2135505676, "published": true}], "snippet": "(a) Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction.\n(b) Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change in the rate or the basis of such FATCA Deduction), notify the Party to whom it is making the payment.", "snippet_links": [{"key": "each-party", "type": "clause", "offset": [4, 14]}, {"key": "payment-required", "type": "clause", "offset": [85, 101]}, {"key": "in-connection-with", "type": "clause", "offset": [102, 120]}, {"key": "no-party", "type": "clause", "offset": [147, 155]}, {"key": "in-respect-of", "type": "definition", "offset": [198, 211]}, {"key": "the-recipient", "type": "definition", "offset": [274, 287]}, {"key": "payment-for", "type": "clause", "offset": [295, 306]}, {"key": "change-in", "type": "definition", "offset": [438, 447]}, {"key": "the-rate", "type": "clause", "offset": [448, 456]}, {"key": "basis-of", "type": "clause", "offset": [464, 472]}, {"key": "the-party", "type": "clause", "offset": [503, 512]}], "size": 49, "hash": "74fe85a4efc0a2716c1e15ddde3adfb4", "id": 3}, {"samples": [{"hash": "j0b2gBGbk7g", "uri": "/contracts/j0b2gBGbk7g#fatca-deduction", "label": "Secured Loan Facility Agreement (Diana Containerships Inc.)", "score": 28.126625061, "published": true}, {"hash": "em4fUOadaBM", "uri": "/contracts/em4fUOadaBM#fatca-deduction", "label": "Secured Loan Agreement (Diana Containerships Inc.)", "score": 27.2176589966, "published": true}, {"hash": "3m0ee7u8Onc", "uri": "/contracts/3m0ee7u8Onc#fatca-deduction", "label": "Secured Loan Agreement (Scorpio Tankers Inc.)", "score": 26.2094459534, "published": true}], "snippet": "12.8.1 Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction.\n12.8.2 Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change in the rate or the basis of such FATCA Deduction) notify the Party to whom it is making the payment and, in addition, shall notify the Borrowers and the Agent and the Agent shall notify the other Finance Parties.", "snippet_links": [{"key": "each-party", "type": "clause", "offset": [7, 17]}, {"key": "payment-required", "type": "clause", "offset": [88, 104]}, {"key": "in-connection-with", "type": "clause", "offset": [105, 123]}, {"key": "no-party", "type": "clause", "offset": [150, 158]}, {"key": "in-respect-of", "type": 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"/contracts/cy5g1JoK0DP#fatca-deduction", "label": "Subordinated Facility Agreement (Diana Containerships Inc.)", "score": 29.2026004791, "published": true}], "snippet": "(a) Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction, including without limitation, under Clauses 12.2 and 12.3 of this Agreement.\n(b) Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change in the rate or the basis of such FATCA Deduction), notify the Party to whom it is making the payment and, in addition, shall notify each Obligor and the Facility Agent and the Facility Agent shall notify the other Finance Parties.", "snippet_links": [{"key": "each-party", "type": "clause", "offset": [4, 14]}, {"key": "payment-required", "type": "clause", "offset": [85, 101]}, {"key": "in-connection-with", "type": "clause", "offset": [102, 120]}, {"key": "no-party", "type": "clause", "offset": [147, 155]}, {"key": "in-respect-of", "type": "definition", "offset": [198, 211]}, {"key": "the-recipient", "type": "definition", "offset": [274, 287]}, {"key": "payment-for", "type": "clause", "offset": [295, 306]}, {"key": "including-without-limitation", "type": "clause", "offset": [329, 357]}, {"key": "this-agreement", "type": "clause", "offset": [390, 404]}, {"key": "change-in", "type": "definition", "offset": [515, 524]}, {"key": "the-rate", "type": "clause", "offset": [525, 533]}, {"key": "basis-of", "type": "clause", "offset": [541, 549]}, {"key": "the-party", "type": "clause", "offset": [580, 589]}, {"key": "in-addition", "type": "clause", "offset": [628, 639]}, {"key": "each-obligor", "type": "clause", "offset": [654, 666]}, {"key": "the-facility-agent-shall", "type": "clause", "offset": 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recipient of that payment for that FATCA Deduction.\n(b) Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change in the rate or the basis of such FATCA Deduction) notify the Party to whom it is making the payment (to which such FATCA Deduction relates) and, in addition, shall notify the Borrower, the Facility Agent and the other Finance Parties.", "snippet_links": [{"key": "each-party", "type": "clause", "offset": [4, 14]}, {"key": "payment-required", "type": "clause", "offset": [85, 101]}, {"key": "in-connection-with", "type": "clause", "offset": [102, 120]}, {"key": "no-party", "type": "clause", "offset": [147, 155]}, {"key": "in-respect-of", "type": "definition", "offset": [198, 211]}, {"key": "the-recipient", "type": "definition", "offset": [274, 287]}, {"key": "payment-for", "type": "clause", "offset": [296, 307]}, {"key": "change-in", "type": "definition", "offset": [439, 448]}, {"key": "the-rate", "type": "clause", 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make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and no Party shall be required to increase 76 \u200c EUROPE/73091764v9 \u200b any payment in respect of which it makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction.\n(b) Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change in the rate or the basis of such FATCA Deduction), notify the Party to whom it is making the payment and, in addition, shall notify the Borrowers and the Facility Agent and the Facility Agent shall notify the other Finance Parties.", "snippet_links": [{"key": "each-party", "type": "clause", "offset": [4, 14]}, {"key": "payment-required", "type": "clause", "offset": [85, 101]}, {"key": "in-connection-with", "type": "clause", "offset": [102, 120]}, {"key": "no-party", "type": "clause", "offset": [147, 155]}, {"key": "in-respect-of", 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"size": 5, "hash": "de8ecad623c0c08a7406b0555f688408", "id": 10}], "next_curs": "ClgSUmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjQLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhhmYXRjYS1kZWR1Y3Rpb24jMDAwMDAwMGEMogECZW4YACAA", "clause": {"title": "FATCA Deduction", "children": [["", ""], ["increased-costs", "Increased costs"], ["increased-cost-claims", "Increased cost claims"], ["other-indemnities", "Other indemnities"], ["currency-indemnity", "Currency indemnity"]], "parents": [["tax-gross-up-and-indemnities", "Tax Gross Up and Indemnities"], ["taxes", "Taxes"], ["additional-payment-obligations", "Additional Payment Obligations"], ["no-set-off-or-tax-deduction", "No Set Off or Tax Deduction"], ["payments", "Payments"]], "size": 678, "id": "fatca-deduction", "related": [["fatca-withholding", "FATCA Withholding", "FATCA Withholding"], ["withholdings-deductions", "Withholdings; Deductions", "Withholdings; Deductions"], ["tax-deductions", "Tax Deductions", "Tax Deductions"], ["dues-deduction", "Dues Deduction", "Dues Deduction"], ["deduction", "Deduction", "Deduction"]], "related_snippets": [], "updated": "2026-05-02T06:01:41+00:00", "also_ask": [], "drafting_tip": "Specify the circumstances triggering FATCA deductions to prevent disputes; define the calculation method to ensure transparency; allocate responsibility for compliance to clarify obligations.", "explanation": "A FATCA Deduction clause allows a party to withhold amounts from payments if required by the Foreign Account Tax Compliance Act (FATCA) or similar tax regulations. In practice, this means that if a payment is subject to FATCA withholding, the paying party can deduct the necessary tax before transferring the remaining funds to the recipient. This clause typically applies to cross-border financial transactions where FATCA compliance is relevant. Its core function is to ensure that the parties comply with international tax laws and avoid penalties by allocating responsibility for required tax withholdings."}, "json": true, "cursor": ""}}