FATCA Withholding. (i) Each party to any 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 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. (ii) Each party to any 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 whom it is making the payment and, in addition, shall notify the Borrower, the Agent and the other Creditor Parties.
Appears in 5 contracts
Sources: Amending and Restating Deed, Amending and Restating Deed (Global Ship Lease, Inc.), Second Amending and Restating Deed (Global Ship Lease, Inc.)
FATCA Withholding. (i) Each party to any 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 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.
(ii) Each party to any 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 whom it is making the payment and, in addition, shall notify the BorrowerBorrowers, the Agent and the other Creditor Parties.
Appears in 2 contracts
Sources: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.)
FATCA Withholding. (ia) Each party to any Finance Document 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 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.
(iib) Each party to any Finance Document 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 Party to whom it is making the payment and, in addition, shall notify the BorrowerBorrowers, the Agent and the other Creditor Parties.
Appears in 1 contract
Sources: Loan Agreement (Euroseas Ltd.)
FATCA Withholding. (ia) Each party to any Finance Document 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 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.
(iib) Each party to any Finance Document 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 Party to whom it is making the payment and, in addition, shall notify the Borrower, the Agent and the other Creditor Parties.
Appears in 1 contract
Sources: Loan Agreement (EuroDry Ltd.)
FATCA Withholding. (ia) Each party to any Finance Document 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 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.
(iib) Each party to any Finance Document 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 Party to whom it is making the payment and, in addition, shall notify the Borrower, Borrower and the Agent and the Agent shall notify the other Creditor Parties.
Appears in 1 contract