Grossing-up of Payment Sample Clauses

Grossing-up of Payment. If (a) the Assignor and/or the Borrower or any other person is required by law to make any deduction or withholding on account of any such tax or any other amount from any sum paid or payable by the Assignor and/or the Borrower and/or any Security Party to the Bank under this Assignment and the Security Documents or (b) the Bank (or any person on its behalf) or any Security Party is required by law to make any deduction or withholding from (except on account of tax on the overall net income of the Bank) any payment or calculated by reference to the amount of any sum received or receivable by the Bank under this Assignment and the Security Documents, the Assignor and/or the Borrower shall notify the Bank of any such requirement or any change in any such requirement as soon as the Assignor and/or the Borrower becomes aware of it and shall:-
Sample 1
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Grossing-up of Payment. If (a) the Assignor or any other person is required by law to make any deduction or withholding on account of any such tax or any other amount from any sum paid or payable by the Assignor and/or any Security Party to the Bank under this Assignment and the Security Documents or (b) the Bank (or any person on its behalf) or any Security Party is required by law to make any deduction or withholding from (except on account of tax on the overall net income of the Bank) any payment or calculated by reference to the amount of any sum received or receivable by the Bank under this Assignment and the Security Documents, the Assignor shall notify the Bank of any such requirement or any change in any such requirement as soon as the Assignor becomes aware of it and shall:-
Sample 1
Grossing-up of Payment. If (i) the Borrower or any other person is required by the applicable laws to make any deduction or withholding on account of any tax or other amount from any sum paid or payable by the Borrower to the Lender under this Agreement, or (ii) the Lender (or any person on its behalf) is required by the applicable laws to make any deduction or withholding from or (except on account of tax on the overall net income of the Lender) make any payment on or calculated by reference to the amount of any sum received or receivable by the Lender under this Agreement:
Sample 1
Grossing-up of Payment. All sums payable by Sellers pursuant to this Agreement shall be paid free and clear of all deductions or withholdings whatsoever, save only as may be required by any applicable law provided that Sellers shall in no circumstance be required to pay by this clause any amount exceeding the amounts specified for each Seller in Section 7.7(c) and (e). If any deductions or withholdings are required by law to be made from any of the sums payable by Sellers pursuant to this Agreement, (i) Sellers shall (except in the case of interest) deduct or withhold such sums as are required to be deducted or withheld from such sum and any additional sum described in (ii) and pay such sums owed to the appropriate Taxing Authority and (ii) Sellers shall be obliged to pay to the recipient such an additional sum as will, after any deduction or withholding required by law to be made from such additional sum has been made, leave the recipient with the same amount as it would have been entitled to receive in the absence of any such requirement to make a deduction or withholding. If Tax is payable on any sum paid by Sellers to the recipient pursuant to this Agreement, the sum otherwise so payable shall be grossed up by such amount as will ensure that, after payment of any Tax charged on or in respect of such payment, the recipient receives and retains a sum equal to that which would otherwise be payable pursuant to this Agreement.
Sample 1

Related to Grossing-up of Payment

  • Grossing-up of Payments If Company or any other Person is required by law to make any deduction or withholding on account of any such Tax from any sum paid or payable by Company to Administrative Agent or any Lender under any of the Loan Documents:

  • Withholding of Payment City reserves the right to withhold, in whole or in part, payment for any and all work that: (i) has not been completed by Contractor; (ii) is inadequate or defective and has not been remedied or resolved in a manner satisfactory to the City Project Manager; or (iii) which fails to comply with any term, condition, or other requirement under this Agreement. Any payment withheld shall be released and remitted to Contractor within THIRTY (30) calendar days of the Contractor’s remedy or resolution of the inadequacy or defect.

  • Withholding of Payments Notwithstanding anything to the contrary herein, the Grantee acknowledges that payments due under this Contract may be withheld or permanently suspended, in whole or in part, if Grantee fails to comply with any federal or state law, administrative rule, or regulation applicable to the services provided herein, or if Grantee fails to perform its duties and responsibilities in accordance with the terms and conditions of this Contract.

  • Date of Payment Should the principal of or interest on the Notes become due and payable on other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and in the case of principal, interest shall be payable thereon at the rate per annum specified in the Notes during such extension.

  • Netting of Payments Subparagraph (ii) of Section 2(c) of this Agreement will apply to all Transactions (in each case starting from the date of this Agreement).

  • Timing of Payment Notwithstanding anything herein to the contrary, if the date on which any payment is to be made pursuant to this Indenture or the Notes is not a Business Day, the payment otherwise payable on such date shall be payable on the next succeeding Business Day with the same force and effect as if made on such scheduled date and (provided such payment is made on such succeeding Business Day) no interest shall accrue on the amount of such payment from and after such scheduled date to the time of such payment on such next succeeding Business Day and the amount of any such payment that is an interest payment will reflect accrual only through the original payment date and not through the next succeeding Business Day.

  • Termination of Payment Fund Any portion of the Payment Fund that remains undistributed to the holders of Certificates and Book Entry Shares for twelve months after the Effective Time shall be delivered by the Paying Agent to the Parent, upon demand, and any holder of a Certificate or Book Entry Shares who has not theretofore complied with this Article II shall thereafter look only to the Parent for payment of the Merger Consideration, but shall have no greater rights against the Parent than may be accorded to general unsecured creditors of the Parent under applicable law.

  • Notation of Payment Each Lender agrees that before disposing of any Note held by it, or any part thereof (other than by granting participations therein), that Lender will make a notation thereon of all Loans evidenced by that Note and all principal payments previously made thereon and of the date to which interest thereon has been paid; provided that the failure to make (or any error in the making of) a notation of any Loan made under such Note shall not limit or otherwise affect the obligations of Company hereunder or under such Note with respect to any Loan or any payments of principal or interest on such Note.

  • Withholding; No Additional Amounts; Tax Event and Redemption All amounts due on this Note will be made without any applicable withholding or deduction for or on account of any present or future taxes, duties, levies, assessments or other governmental charges of whatever nature imposed or levied by or on behalf of any governmental authority, unless such withholding or deduction is required by law. Unless otherwise specified on the face hereof, the Trust will not pay any additional amounts to the Holder of this Note in respect of such withholding or deduction, any such withholding or deduction will not give rise to an event of default or any independent right or obligation to redeem this Note and the Holder will be deemed for all purposes to have received cash in an amount equal to the portion of such withholding or deduction that is attributable to such Holder’s interest in this Note as equitably determined by the Trust.

  • Timing of Payments All payments of Expenses (including without limitation Expense Advances) by the Company to the Indemnitee pursuant to this Agreement shall be made to the fullest extent permitted by law as soon as practicable after written demand by Indemnitee therefor is presented to the Company, but in no event later than thirty (30) business days after such written demand by Indemnitee is presented to the Company, except in the case of Expense Advances, which shall be made no later than ten (10) business days after such written demand by Indemnitee is presented to the Company.

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