Monetary Awards. (a) Any monetary award shall be made in Dollars and shall be payable free of any Tax, withholding, deduction or offset. If a party is required to withhold or otherwise account for any such Tax, withholding, deduction or offset, such party shall: (i) pay and bear such Tax, withholding, deduction or offset; and (ii) ensure that the other party receives an amount equal to the amount of such award without deduction for any such Tax, withholding, deduction or offset. (b) If a party (the “First Party”) makes a Tax deduction in respect of a monetary award payment to the other party (the “Second Party”) and a corresponding Tax payment to any taxing authority or Governmental Authority and the Second Party has obtained a refund of such Tax payment, or used such Tax payment as a credit against its Tax liabilities, then the Second Party shall reimburse the First Party the amount of such Tax payment as will leave the Second Party (after such reimbursement) in no better or worse position than it would have been in had no Tax payment been required. (c) An Arbitral Tribunal shall include pre-award and post-award interest (including compound interest) at commercial rates from the date of any breach until the date such award is paid in full, including interest due. Any costs, expenses and fees incident to enforcing any award (including attorney’s fees) shall, to the maximum extent permitted by the Applicable Law, be charged against the party against whom such enforcement is sought.
Appears in 2 contracts
Sources: Ground Lease (Kraton Performance Polymers, Inc.), Shareholder Agreement (Kraton Performance Polymers, Inc.)