Common use of FATCA Mitigation Clause in Contracts

FATCA Mitigation. Notwithstanding any other provision to this Agreement, if a FATCA Deduction is or will be required to be made by any Party under Clause 8.15 in respect of a payment to any Lender which is a FATCA FFI (a “FATCA Non-Exempt Lender”), the FATCA Non-Exempt Lender may either: (a) transfer its entire interest in the Loan to a U.S. branch or affiliate; or (b) (subject to the prior written consent of the Borrowers in the case of a transferee which is not already a Lender, such consent not to be unreasonably withheld or delayed and always provided that it should be deemed to be reasonable for the Borrowers to withhold such consent in circumstances where any transfer under this Clause 15.8(b) would result in any Increased Cost being incurred by the transferee lender) nominate one or more transferee lenders who upon becoming a Lender would be a FATCA Exempt Party, by notice in writing to the Agent and the Borrowers specifying the terms of the proposed transfer, and cause such transferee lender(s) to purchase all of the FATCA Non-Exempt Lender’s interest in the Loan.

FATCA Mitigation. Notwithstanding any other provision to this Agreement, if a FATCA Deduction is or will be required to be made by any Party under Clause 8.15 8.12 in respect of a payment to any Lender which is a FATCA FFI (a “FATCA Non-Exempt Lender”), the FATCA Non-Exempt Lender may either: (a) transfer its entire interest in the Loan to a U.S. branch or affiliate; or (b) (subject to the prior written consent of the Borrowers Borrower in the case of a transferee which is not already a Lender, such consent not to be unreasonably withheld or delayed and always provided that it should be deemed to be reasonable for the Borrowers to withhold such consent in circumstances where any transfer under this Clause 15.8(b) would result in any Increased Cost being incurred by the transferee lenderdelayed) nominate one or more transferee lenders who upon becoming a Lender would be a FATCA Exempt Party, by notice in writing to the Agent and the Borrowers Borrower specifying the terms of the proposed transfer, and cause such transferee lender(s) to purchase all of the FATCA Non-Exempt Lender’s interest in the Loan, provided always that any assignment or transfer under this Clause 14.10 shall not result in any increased costs to the Borrowers as a consequence of such assignment or transfer.