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[10197, 10210]}, {"key": "agree-to", "type": "clause", "offset": [10543, 10551]}, {"key": "the-applicable", "type": "clause", "offset": [10596, 10610]}, {"key": "obligation-to-pay", "type": "clause", "offset": [11177, 11194]}, {"key": "change-in-applicable-law", "type": "clause", "offset": [11259, 11283]}, {"key": "sharing-event", "type": "definition", "offset": [11296, 11309]}], "samples": [{"hash": "hcBaP3gPXk0", "uri": "/contracts/hcBaP3gPXk0#net-payments", "label": "Credit Agreement (Host Marriott L P)", "score": 21.0, "published": true}, {"hash": "77WQYikgMXz", "uri": "/contracts/77WQYikgMXz#net-payments", "label": "Credit Agreement (Host Marriott Corp/)", "score": 21.0, "published": true}, {"hash": "aKURs2m2yUq", "uri": "/contracts/aKURs2m2yUq#net-payments", "label": "Credit Agreement (Host Hotels & Resorts, Inc.)", "score": 19.0, "published": true}], "snippet": "(a) All payments made by any Borrower hereunder or under any Revolving Note or other Credit Document will be made without setoff, counterclaim or other defense. Except as provided in Sections 5.04(b) and (c), all such payments will be made free and clear of, and without deduction or withholding for, any present or future taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction or by any political subdivision or taxing authority thereof or therein with respect to such payments (but excluding, except as provided in the second succeeding sentence, any tax imposed on or measured by the net income or profits of a Lender pursuant to the laws of the jurisdiction in which it is organized or the jurisdiction in which it is resident or the jurisdiction in which the principal office or applicable lending office or other permanent establishment of such Lender is located or any subdivision thereof or therein) and all interest, penalties or similar liabilities with respect thereto (all such non-excluded taxes, levies, imposts, duties, fees, assessments or other charges being referred to collectively as \u201cTaxes\u201d). If any Taxes are so levied or imposed, subject to Section 5.04(b), the respective Borrower agrees to pay the full amount of such Taxes, and such additional amounts as may be necessary so that every payment of all amounts due under this Agreement or under any Revolving Note or other Credit Document, after withholding or deduction for or on account of any Taxes, will not be less than the amount provided for herein or in such Revolving Note or other Credit Document. If any amounts are payable in respect of Taxes pursuant to the preceding sentence, subject to Section 5.04(b), the respective Borrower agrees to reimburse each Lender, upon the written request of such Lender, for the net additional amount of taxes imposed on or measured by the net income or profits of such Lender pursuant to the laws of the jurisdiction in which the principal office or applicable lending office of such Lender is located or under the laws of any political subdivision or taxing authority of any such jurisdiction in which the principal office or applicable lending office of such Lender is located and for any withholding of taxes as such Lender shall determine are payable by, or withheld from, such Lender in respect of such amounts so paid to or on behalf of such Lender pursuant to the preceding sentence and in respect of any amounts paid to or on behalf of such Lender pursuant to this sentence. The respective Borrower will furnish to the Administrative Agent within 45 days after the date the payment of any Taxes is due pursuant to applicable law certified copies of tax receipts evidencing such payment by the respective Borrower. Each Borrower agrees to indemnify and hold harmless each Lender, and reimburse such Lender upon its written request, for the amount of any Taxes so levied or imposed and paid by such Lender and any liability (including penalties, interest and expenses) arising from or with respect to such Taxes whether or not they were correctly or legally asserted.\n(b) Each Lender (other than any Canadian Lender with Maximum Canadian Dollar Revolving Loan Sub-Commitments only) that is not a United States person (as such term is defined in Section 7701(a)(30) of the Code) agrees to deliver to the U.S. Borrower and the Administrative Agent on or prior to the Effective Date, or in the case of any such Lender (other than any Canadian Lender with Maximum Canadian Dollar Revolving Sub-Commitments only) that is an assignee or transferee of an interest under this Agreement pursuant to Section 2.14 or 14.03 (unless the respective Lender was already a Lender hereunder immediately prior to such assignment or transfer), on the date of such assignment or transfer to such Lender, (i) two accurate and complete original signed copies of Internal Revenue Service Form W-8ECI or Form W-8BEN (or successor forms) certifying to such Lender\u2019s entitlement as of such date to a complete exemption from United States withholding tax with respect to payments to be made under this Agreement and under any Revolving Note, or (ii) if such Lender is not a \u201cbank\u201d within the meaning of Section 881(c)(3)(A) of the Code and cannot deliver either Internal Revenue Service Form W-8ECI or Form W-8BEN pursuant to clause (i) above, (x) a certificate substantially in the form of Exhibit D (any such certificate, a \u201cSection 5.04(b)(ii) Certificate\u201d) and (y) two accurate and complete original signed copies of Internal Revenue Service Form W-8BEN (or successor form) certifying to such Lender\u2019s entitlement as of such date to a complete exemption from United States withholding tax with respect to payments of interest to be made under this Agreement and under any Revolving Note. In addition, each such Lender agrees that from time to time after the Effective Date, when a lapse in time or change in circumstances renders the previous certification obsolete or inaccurate in any material respect, it will deliver to the U.S. Borrower and the Administrative Agent two new accurate and complete original signed copies of Internal Revenue Service Form W-8ECI or Form W-8BEN, or Form W-8 and a Section 5.04(b)(ii) Certificate, as the case may be, and such other forms as may be required in order to confirm or establish the entitlement of such Lender to a continued exemption from or reduction in United States withholding tax with respect to payments under this Agreement and any Revolving Note, or it shall immediately notify the U.S. Borrower and the Administrative Agent of its inability to deliver any such form or certificate in which case such Lender shall not be required to deliver any such form or certificate pursuant to this Section 5.04(b). Notwithstanding anything to the contrary contained in Section 5.04(a), but subject to Section 14.03 and the immediately succeeding sentence, (x) each Borrower shall be entitled, to the extent it is required to do so by law, to deduct or withhold income or similar taxes imposed by the United States (or any political subdivision or taxing authority thereof or therein) from interest, fees or other amounts payable hereunder for the account of any Lender (other than any Canadian Lender with Maximum Canadian Dollar Revolving Loan Sub-Commitments only) which is not a United States person (as such term is defined in Section 7701(a)(30) of the Code) for U.S. Federal income tax purposes to the extent that such Lender has not provided to the U.S. Borrower U.S. Internal Revenue Service forms that establish a complete exemption from such deduction or withholding and (y) the Borrowers shall not be obligated pursuant to Section 5.04(a) hereof to gross-up payments to be made to a Lender (other than any Canadian Lender with Maximum Canadian Dollar Revolving Loan Sub-Commitments only) in respect of income or similar taxes imposed by the United States if (I) such Lender has not provided to the U.S. Borrower the Internal Revenue Service Forms required to be provided by it to the U.S. Borrower pursuant to this Section 5.04(b) or (II) in the case of a payment, other than interest, to a Lender described in clause (ii) above, to the extent that such forms do not establish a complete exemption from withholding of such taxes. Notwithstanding anything to the contrary contained in the immediately preceding sentence or elsewhere in this Section 5.04 (other than clause (e) below) and except as set forth in Section 14.03, each Borrower agrees to pay additional amounts and to indemnify each Lender in the manner set forth in Section 5.04(a) (without regard to the identity of the jurisdiction requiring the deduction or withholding) in respect of any amounts deducted or withheld by it as described in the immediately preceding sentence as a result of any changes that are effective after the Effective Date in any applicable law, treaty, governmental rule, regulation, guideline or order, or in the interpretation thereof, relating to the deducting or withholding of income or similar Taxes.\n(c) Each Lender shall use reasonable efforts (consistent with legal and regulatory restrictions and subject to overall policy considerations of such Lender) to file any certificate or document or to furnish any information as reasonably requested by the U.S. Borrower pursuant to any applicable treaty, law or regulation if the making of such filing or the furnishing of such information would avoid the need for or reduce the amount of any additional amounts payable by the respective Borrower and would not, in the sole discretion of such Lender, be disadvantageous to such Lender.\n(d) Nothing in this Section 5.04 shall require any Lender (or any Eligible Transferee) or the Administrative Agent to make available any of its tax returns (or any other information that it deems to be confidential or proprietary, in its sole discretion).\n(e) Subject to the last sentence of this Section 5.04, if any Canadian Lender (a) is not resident in Canada for the purpose of Income Tax Act (Canada), or (b) is not an authorized foreign bank which at all times holds all of its interest in any Canadian Obligations in the course of its Canadian banking business for purposes of subsection 212(13.3) of the Income Tax Act (Canada), or (c) is not otherwise exempt from being subject to deduction or withholding of income or similar Taxes imposed by Canada (or any political subdivision or taxing authority thereof or therein) (\u201cCanadian Taxes\u201d) on the basis established to the satisfaction of the Canadian Revolving Loan Borrowers and the Administrative Agent based on Applicable Law in effect on the Effective Date (or such later date on which it becomes a Canadian Lender) with respect to any payments to such Lender of interest, fees, commissions, or any other amount payable by any Canadian Revolving Loan Borrower under the Credit Documents: (i) the Canadian Revolving Loan Borrowers shall be entitled, to the extent that they are required to do so by Applicable Law, to deduct or withhold Canadian Taxes from interest, fees, commissions or other amounts payable under this Agreement for the account of such Canadian Lender; and (ii) the Canadian Revolving Loan Borrowers shall not be obligated pursuant to Section 5.04(a) to gross-up payments to be made to such Canadian Lender in respect of Canadian Taxes. Notwithstanding anything to the contrary contained in this Section 5.04, the Canadian Revolving Loan Borrowers agree to pay any additional amounts and to indemnify the applicable Canadian Lender in the manner set forth in Section 5.04(a) (without regard to the identity of the jurisdiction requiring the deduction or withholding) in respect of any incremental Canadian Taxes deducted or withheld by it as described in the immediately preceding sentence following (I) any changes after the Effective Date (or after the date such Lender became a Canadian Lender, as applicable) in any applicable law, or in the interpretation thereof, relating to the deducting or withholding of such Canadian Taxes to the extent, and only to the extent, that the obligation to pay such incremental Canadian Taxes arises as a consequence of such change in applicable law or (II) any Sharing Event.", "hash": "69b49b95f2659eb24211b4859b45ff17", "id": 1}, {"size": 464, "snippet_links": [{"key": "by-or-on-behalf-of", 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"clause", "offset": [1293, 1307]}, {"key": "official-receipt", "type": "definition", "offset": [1323, 1339]}, {"key": "other-evidence", "type": "definition", "offset": [1344, 1358]}, {"key": "acting-reasonably", "type": "clause", "offset": [1386, 1403]}, {"key": "received-by", "type": "definition", "offset": [1405, 1416]}, {"key": "indemnify-and-hold-harmless", "type": "clause", "offset": [1536, 1563]}, {"key": "each-lender", "type": "clause", "offset": [1593, 1604]}, {"key": "days-after", "type": "definition", "offset": [1624, 1634]}, {"key": "written-demand", "type": "definition", "offset": [1635, 1649]}, {"key": "with-respect-to", "type": "clause", "offset": [1782, 1797]}, {"key": "payment-by", "type": "clause", "offset": [1802, 1812]}, {"key": "taxes-or-other-taxes", "type": "clause", "offset": [1953, 1973]}, {"key": "reasonable-expenses", "type": "definition", "offset": [2064, 2083]}, {"key": "to-the-borrower", "type": "clause", "offset": [2321, 2336]}, {"key": "a-lender", "type": 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"reduced-rate", "type": "definition", "offset": [2932, 2944]}, {"key": "execute-and-deliver", "type": "clause", "offset": [3005, 3024]}, {"key": "to-the-extent", "type": "clause", "offset": [3045, 3058]}, {"key": "agrees-to", "type": "clause", "offset": [3104, 3113]}, {"key": "reasonable-efforts", "type": "definition", "offset": [3118, 3136]}, {"key": "consistent-with", "type": "definition", "offset": [3138, 3153]}, {"key": "regulatory-restrictions", "type": "definition", "offset": [3164, 3187]}, {"key": "subject-to", "type": "definition", "offset": [3192, 3202]}, {"key": "policy-considerations", "type": "clause", "offset": [3211, 3232]}, {"key": "to-file", "type": "definition", "offset": [3249, 3256]}, {"key": "to-establish", "type": "definition", "offset": [3433, 3445]}, {"key": "withholding-taxes", "type": "clause", "offset": [3511, 3528]}, {"key": "in-good-faith", "type": "definition", "offset": [3890, 3903]}, {"key": "reasonable-basis", "type": "definition", "offset": [3911, 3927]}, {"key": "relevant-lender", "type": "definition", "offset": [4019, 4034]}, {"key": "cooperate-with", "type": "clause", "offset": [4085, 4099]}, {"key": "other-cash", "type": "definition", "offset": [4324, 4334]}, {"key": "tax-liabilities", "type": "definition", "offset": [4335, 4350]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [4406, 4432]}, {"key": "good-faith-judgment", "type": "clause", "offset": [4454, 4473]}, {"key": "the-lender", "type": "clause", "offset": [4598, 4608]}, {"key": "account-expenses", "type": "clause", "offset": [4942, 4958]}, {"key": "the-payment", "type": "clause", "offset": [5025, 5036]}, {"key": "applicable-interest", "type": "clause", "offset": [5133, 5152]}, {"key": "applicable-lender", "type": "clause", "offset": [5201, 5218]}, {"key": "to-repay", "type": "clause", "offset": [5231, 5239]}, {"key": "applicable-taxing-authority", "type": "definition", "offset": [5263, 5290]}, {"key": "available-to", "type": "definition", "offset": [5370, 5382]}, {"key": "reasonable-discretion", "type": "clause", "offset": [5414, 5435]}, {"key": "affected-by", "type": "definition", "offset": [5463, 5474]}, {"key": "to-disclose", "type": "definition", "offset": [5561, 5572]}, {"key": "information-regarding", "type": "clause", "offset": [5577, 5598]}, {"key": "tax-affairs", "type": "clause", "offset": [5603, 5614]}, {"key": "in-connection-with", "type": "clause", "offset": [5647, 5665]}, {"key": "provision-of", "type": "clause", "offset": [5698, 5710]}, {"key": "the-agreements", "type": "clause", "offset": [5733, 5747]}, {"key": "termination-of-this-agreement", "type": "clause", "offset": [5786, 5815]}, {"key": "payment-of-the-loans", "type": "clause", "offset": [5824, 5844]}, {"key": "other-amounts-payable", "type": "clause", "offset": [5853, 5874]}], "samples": [{"hash": "i8F6UjlwnQi", "uri": "/contracts/i8F6UjlwnQi#net-payments", "label": "Superpriority Secured Debtor in Possession Credit Agreement (Intelsat S.A.)", "score": 32.7070503235, "published": true}, {"hash": "fEqI6zQpiFi", "uri": "/contracts/fEqI6zQpiFi#net-payments", "label": "Superpriority Secured Debtor in Possession Credit Agreement (Intelsat S.A.)", "score": 32.5865859985, "published": true}, {"hash": "diIcEbDUORn", "uri": "/contracts/diIcEbDUORn#net-payments", "label": "Superpriority Secured Debtor in Possession Credit Agreement (Intelsat S.A.)", "score": 32.2416152954, "published": true}], "snippet": "(a) Any and all payments made by or on behalf of any Credit Party under this Agreement or any other Credit Document shall be made free and clear of, and without deduction or withholding for or on account of, any Indemnified Taxes; provided that if any Credit Party or other applicable withholding agent shall be required by law to deduct or withhold any Indemnified Taxes from such payments, then (i) the sum payable by the applicable Credit Party shall be increased as necessary so that after all required deductions and withholdings have been made (including deductions or withholdings applicable to additional sums payable under this Section 5.4) the Administrative Agent or any Lender, as the case may be, receives an amount equal to the sum it would have received had no such deductions or withholdings been made, (ii) the applicable withholding agent shall make such deductions or withholdings and (iii) the applicable withholding agent shall pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law. Whenever any Indemnified Taxes are payable by any Credit Party, as promptly as possible thereafter, the Borrower shall send to the Administrative Agent for its own account or for the account of such Lender, as the case may be, a certified copy of an original official receipt (or other evidence acceptable to such Lender, acting reasonably) received by the applicable Credit Party showing payment thereof.\n(b) Borrower shall timely pay any Other Taxes.\n(c) Borrower shall indemnify and hold harmless the Administrative Agent and each Lender within 15 Business Days after written demand therefor, for the full amount of any Indemnified Taxes imposed on the Administrative Agent or such Lender as the case may be, on or with respect to any payment by or on account of any obligation of any Credit Party hereunder or under any other Credit Document and any Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section 5.4) and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender or by the Administrative Agent on its own behalf or on behalf of a Lender shall be conclusive absent manifest error.\n(d) A Lender that is entitled to an exemption from or reduction in a withholding tax imposed under the laws of Luxembourg with respect to any payments under this Agreement or any other Credit Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent such properly completed and executed documentation as will permit such payments to be made without withholding or at a reduced rate; provided that such Lender is legally entitled to complete, execute and deliver such documentation. To the extent it is legally entitled to do so, each Lender agrees to use reasonable efforts (consistent with legal and regulatory restrictions and subject to overall policy considerations of such Lender) to file or deliver to the Borrower and the Administrative Agent any certificate or document, as reasonably requested by the Borrower or the Administrative Agent, that may be necessary to establish any available exemption from, or reduction in the amount of, any withholding taxes imposed by a jurisdiction other than Luxembourg; provided, however, that a Lender shall not be required to file or deliver any such certificate or document if in such Lender\u2019s reasonable judgment such completion, execution or delivery would be disadvantageous to such Lender or would subject such Lender to any unreimbursed cost.\n(e) If the Borrower determines in good faith that a reasonable basis exists for contesting any taxes for which indemnification has been demanded hereunder, the relevant Lender or the Administrative Agent, as applicable, shall cooperate with the Borrower in challenging such taxes at the Borrower\u2019s expense if so requested by the Borrower. If any Lender or the Administrative Agent, as applicable, receives a refund of a tax (in cash or applied as an offset against other cash tax liabilities) for which a payment has been made by any Credit Party pursuant to this Agreement, which refund in the good faith judgment of such Lender or Administrative Agent, as the case may be, is attributable to such payment made by such Credit Party, then the Lender or the Administrative Agent, as the case may be, shall reimburse the Borrower for such amount (together with any interest received thereon) as the Lender or Administrative Agent, as the case may be, determines to be the proportion of the refund as will leave it, after such reimbursement, in no better or worse position (taking into account expenses or any taxes imposed on the refund) than it would have been in if the payment had not been required; provided that the Borrower shall return any such amounts (along with any applicable interest) to the extent that the Administrative Agent or applicable Lender is required to repay any such refund to the applicable taxing authority. A Lender or Administrative Agent shall claim any refund that it determines is available to it, unless it concludes in its reasonable discretion that it would be adversely affected by making such a claim. Neither the Lender nor the Administrative Agent shall be obliged to disclose any information regarding its tax affairs or computations to the Borrower in connection with this paragraph (e) or any other provision of this Section 5.4.\n(f) The agreements in this Section 5.4 shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder.", "hash": "a3e3f048dac9cf8980a05383a97463db", "id": 2}, {"size": 102, "snippet_links": [{"key": "except-as-otherwise-provided", "type": "clause", "offset": [0, 28]}, {"key": "principal-of", "type": "definition", "offset": [83, 95]}, {"key": "other-amounts", "type": "clause", "offset": [134, 147]}, {"key": "in-respect-of", "type": "clause", "offset": [155, 168]}, {"key": "the-securities", "type": "definition", "offset": [170, 184]}, {"key": "by-the-guarantor", "type": "clause", "offset": [213, 229]}, {"key": "withholding-or-deduction", "type": "clause", "offset": [238, 262]}, {"key": "future-taxes", 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"definition", "offset": [2483, 2493]}, {"key": "the-payment", "type": "clause", "offset": [2512, 2523]}, {"key": "except-to-the-extent", "type": "clause", "offset": [2618, 2638]}, {"key": "period-of", "type": "clause", "offset": [2776, 2785]}, {"key": "personal-property", "type": "clause", "offset": [2846, 2863]}, {"key": "by-the-holder", "type": "clause", "offset": [3027, 3040]}, {"key": "comply-with", "type": "definition", "offset": [3085, 3096]}, {"key": "reasonable-request", "type": "definition", "offset": [3101, 3119]}, {"key": "addressed-to", "type": "definition", "offset": [3137, 3149]}, {"key": "concerning-the", "type": "clause", "offset": [3219, 3233]}, {"key": "reporting-requirement", "type": "clause", "offset": [3392, 3413]}, {"key": "in-the-case", "type": "clause", "offset": [3422, 3433]}, {"key": "exemption-from", "type": "clause", "offset": [3624, 3638]}, {"key": "with-respect-to", "type": "clause", "offset": [3792, 3807]}, {"key": "payment-of-the-principal", "type": "clause", "offset": [3812, 3836]}, {"key": "to-any-holder", "type": "definition", "offset": [3913, 3926]}, {"key": "a-fiduciary", "type": "definition", "offset": [3934, 3945]}, {"key": "sole-beneficial-owner", "type": "definition", "offset": [3979, 4000]}, {"key": "required-by", "type": "definition", "offset": [4054, 4065]}, {"key": "relevant-taxing-authority", "type": "definition", "offset": [4144, 4169]}, {"key": "purposes-of", "type": "clause", "offset": [4227, 4238]}, {"key": "a-member-of", "type": "clause", "offset": [4309, 4320]}, {"key": "the-security", "type": "clause", "offset": [4446, 4458]}], "samples": [{"hash": "hLGuAKy8iDG", "uri": "/contracts/hLGuAKy8iDG#net-payments", "label": "Senior Indenture (Teva Pharmaceutical Industries LTD)", "score": 27.5516777039, "published": true}, {"hash": "lLvsI6t6PwD", "uri": "/contracts/lLvsI6t6PwD#net-payments", "label": "Senior Indenture (Teva Pharmaceutical Industries LTD)", "score": 26.2429847717, "published": true}, {"hash": "i3L7vLbGOhs", "uri": "/contracts/i3L7vLbGOhs#net-payments", "label": "Subordinated Indenture (Teva Pharmaceutical Finance Co B.V.)", "score": 26.106092453, "published": true}], "snippet": "Except as otherwise provided in any indenture supplemental hereto, all payments of principal of and premium, if any, interest and any other amounts on, or in respect of, the Securities of any series shall be made by the Guarantor without withholding or deduction at source for, or on account of, any present or future taxes, fees, duties, assessments or governmental charges of whatever nature imposed or levied by or on behalf of the State of Israel (the \u201ctaxing jurisdiction\u201d) or any political subdivision or taxing authority thereof or therein, unless such taxes, fees, duties, assessments or governmental charges are required to be withheld or deducted by (i) the laws (or any regulations or ruling promulgated thereunder) of a taxing jurisdiction or any political subdivision or taxing authority thereof or therein or (ii) an official position regarding the application, administration, interpretation or enforcement of any such laws, regulations or rulings (including, without limitation, a holding by a court of competent jurisdiction or by a taxing authority in a taxing jurisdiction or any political subdivision thereof). If a withholding or deduction at source is required, the Guarantor shall, subject to certain limitations and exceptions set forth below, pay to the Holder of any such Security such additional amounts as may be necessary so that every net payment of principal, premium, if any, interest or any other amount made to such Holder, after such withholding or deduction, shall not be less than the amount provided for in such Security, and this Indenture to be then due and payable; provided, however, that the Guarantor shall not be required to make payment of such additional amounts for or on account of:\n(a) any tax, fee, duty, assessment or governmental charge of whatever nature which would not have been imposed but for the fact that such Holder: (A) was a resident, domiciliary or national of, or engaged in business or maintained a permanent establishment or was physically present in, the relevant taxing jurisdiction or any political subdivision thereof or otherwise had some connection with the relevant taxing jurisdiction other than by reason of the mere ownership of, or receipt of payment under, such Security; (B) presented such Security for payment in the relevant taxing jurisdiction or any political subdivision thereof, unless such Security could not have been presented for payment elsewhere; or (C) presented such Security more than 30 days after the date on which the payment in respect of such Security first became due and payable or provided for, whichever is later, except to the extent that the Holder would have been entitled to such additional amounts if it had presented such Security for payment on any day within such period of 30 days;\n(b) any estate, inheritance, gift, sale, transfer, personal property or similar tax, assessment or other governmental charge;\n(c) any tax, assessment or other governmental charge that is imposed or withheld by reason of the failure by the Holder or the beneficial owner of such Security to comply with any reasonable request by the Guarantor addressed to the Holder within 90 days of such request (A) to provide information concerning the nationality, residence or identity of the Holder or such beneficial owner or (B) to make any declaration or other similar claim or satisfy any information or reporting requirement, which, in the case of (A) or (B), is required or imposed by statute, treaty, regulation or administrative practice of the relevant taxing jurisdiction or any political subdivision thereof as a precondition to exemption from all or part of such tax, assessment or other governmental charge; or\n(d) any combination of items (a), (b) and (c); nor shall additional amounts be paid with respect to any payment of the principal of, or premium, if any, interest or any other amounts on, any such Security to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such Security to the extent such payment would be required by the laws of the relevant taxing jurisdiction (or any political subdivision or relevant taxing authority thereof or therein) to be included in the income for tax purposes of a beneficiary or partner or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to such additional amounts had it been the Holder of the Security.", "hash": "7e878eec88890170d509fceea9516510", "id": 3}, {"size": 41, "snippet_links": [{"key": "payments-made-by", "type": "clause", "offset": [8, 24]}, {"key": "loan-document", "type": "clause", "offset": [58, 71]}, {"key": "to-the-extent", "type": "clause", "offset": [134, 147]}, {"key": "applicable-law", "type": "definition", "offset": [161, 175]}, {"key": "payments-hereunder", "type": "clause", "offset": [181, 199]}, {"key": "without-limitation", "type": "clause", "offset": [240, 258]}, {"key": "payment-of-principal", "type": "clause", "offset": [264, 284]}, {"key": "the-benefit", "type": "clause", "offset": [316, 327]}, {"key": "any-person", 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{"key": "assignment-to", "type": "clause", "offset": [2801, 2814]}, {"key": "accurate-and-complete", "type": "clause", "offset": [2832, 2853]}, {"key": "copies-of", "type": "definition", "offset": [2870, 2879]}, {"key": "form-w-8ben", "type": "definition", "offset": [2884, 2895]}, {"key": "applicable-form", "type": "definition", "offset": [2942, 2957]}, {"key": "entitlement-to", "type": "clause", "offset": [3009, 3023]}, {"key": "reduced-rate", "type": "definition", "offset": [3056, 3068]}, {"key": "united-states-withholding", "type": "clause", "offset": [3073, 3098]}, {"key": "payments-to-be-made", "type": "clause", "offset": [3115, 3134]}, {"key": "agreement-or", "type": "definition", "offset": [3146, 3158]}, {"key": "exemption-from-withholding", "type": "clause", "offset": [3235, 3261]}, {"key": "pursuant-to-section", "type": "definition", "offset": [3274, 3293]}, {"key": "the-code", "type": "clause", "offset": [3304, 3312]}, {"key": "form-of", "type": "definition", "offset": [3455, 3462]}, {"key": "in-addition", "type": "clause", "offset": [3540, 3551]}, {"key": "from-time-to-time", "type": "clause", "offset": [3608, 3625]}, {"key": "the-assignment", "type": "definition", "offset": [3727, 3741]}, {"key": "in-time", "type": "definition", "offset": [3772, 3779]}, {"key": "change-in-circumstances", "type": "definition", "offset": [3784, 3807]}, {"key": "prior-certificates", "type": "definition", "offset": [3828, 3846]}, {"key": "material-respect", "type": "definition", "offset": [3887, 3903]}, {"key": "if-applicable", "type": "clause", "offset": [4200, 4213]}, {"key": "a-new-section", "type": "definition", "offset": [4215, 4228]}, {"key": "reduction-in", "type": "definition", "offset": [4356, 4368]}, {"key": "a-corporation", "type": "clause", "offset": [4563, 4576]}, {"key": "for-us", "type": "clause", "offset": [4577, 4584]}, {"key": "federal-income-tax-purposes", "type": "clause", "offset": [4586, 4613]}, {"key": "properly-completed", "type": "definition", "offset": [4633, 4651]}, {"key": "executed-copies", "type": "clause", "offset": [4661, 4676]}, {"key": "irs-form-w-9", "type": "clause", "offset": [4680, 4692]}, {"key": "backup-withholding-tax", "type": "clause", "offset": [4864, 4886]}, {"key": "of-change", "type": "clause", "offset": [5025, 5034]}, {"key": "status-of", "type": "clause", "offset": [5072, 5081]}], "samples": [{"hash": "6kpY3V66K6h", "uri": "/contracts/6kpY3V66K6h#net-payments", "label": "Revolving Credit Agreement (Texas Petrochemicals Inc.)", "score": 21.0191650391, "published": true}, {"hash": "8J1fhBZNy05", "uri": "/contracts/8J1fhBZNy05#net-payments", "label": "Revolving Credit Agreement (Texas Petrochemicals Inc.)", "score": 21.0, "published": true}], "snippet": "(a) All payments made by Borrowers hereunder or under any Loan Document shall be made without setoff, counterclaim, or other defense. To the extent permitted by applicable law, all payments hereunder and under any Loan Document (including, without limitation, any payment of principal, interest, or fees) to, or for the benefit, of any Person shall be made by Borrowers free and clear of and without deduction or withholding for, or account of, any tax, duty, levy, impost, deduction, charge, withholding, or assessment now or hereinafter imposed by any Governmental Authority.\n(b) If any Borrower makes any payment hereunder or under any Loan Document in respect of which it is required by law to deduct or withhold any Taxes, such Borrower shall increase the payment hereunder or under any such Loan Document such that after the reduction for the amount of Taxes withheld (and any taxes withheld or imposed with respect to the additional payments required under this Section 2.8(b)) the amount paid to the Lender or Administrative Agent equals the amount that was payable hereunder or under any such Loan Document without regard to this Section 2.8(b). To the extent any Borrower withholds any taxes, duties, levies, imposts, deductions, charges, withholdings, or assessments on payments hereunder or under any Loan Document, such Borrower shall pay the full amount deducted to the relevant Governmental Authority within the time allowed for payment under applicable law and shall deliver to the Administrative Agent within 30 days after it has made payment to such authority a receipt issued by such authority (or other evidence satisfactory to the Administrative Agent) evidencing the payment of all amounts so required to be deducted or withheld from such payment.\n(c) If any Lender or Administrative Agent is required by law to make any payments of any Taxes on or in relation to any amounts received or receivable hereunder or under any other Loan Document, or any Tax is assessed against a Lender or Administrative Agent with respect to amounts received or receivable hereunder or under any other Loan Document, each Borrower will indemnify such person against (i) such Tax (and any reasonable counsel fees and expenses associated with such Tax) and (ii) any Taxes imposed as a result of the receipt of the payment under this Section 2.8(c). A certificate prepared in good faith as to the amount of such payment by Lender or Administrative Agent shall, absent manifest error, be final, conclusive, and binding on all parties.\n(i) To the extent permitted by applicable law, each Lender that is a Non-U.S. Participant shall deliver to the Funds Administrator and Administrative Agent on or prior to the Initial Borrowing Date (or in the case of a Lender that is an Assignee, on the date of such assignment to such Lender) two accurate and complete original signed copies of IRS Form W-8BEN, W-8ECI, or W-8IMY (or any successor or other applicable form prescribed by the IRS) certifying to such Lender\u2019s entitlement to a complete exemption from, or a reduced rate in, United States withholding tax on interest payments to be made under this Agreement or any Note. If a Lender that is a Non-U.S. Participant is claiming a complete exemption from withholding on interest pursuant to Section 881(c) of the Code, the Lender shall deliver (along with two accurate and complete original signed copies of IRS Form W-8BEN) a certificate substantially in the form of Exhibit 2.8(d)(i) (any such certificate, a \u201cSection 2.8(d)(i) Certificate\u201d). In addition, each Lender that is a Non-U.S. Participant agrees that from time to time after the Initial Borrowing Date, (or in the case of a Lender that is an Assignee, after the date of the assignment to such Lender), when a lapse in time (or change in circumstances occurs) renders the prior certificates hereunder obsolete or inaccurate in any material respect, such Lender shall, to the extent permitted under applicable law, deliver to the Funds Administrator and Administrative Agent two new and accurate and complete original signed copies of an IRS Form W-8BEN, W-8ECI, or W-8IMY (or any successor or other applicable forms prescribed by the IRS), and if applicable, a new Section 2.8(d)(i) Certificate, to confirm or establish the entitlement to such Lender or Administrative Agent to an exemption from, or reduction in, United States withholding tax on interest payments to be made under this Agreement or any Note.\n(e) Each Lender that is not a Non-U.S. Participant (other than any such Lender which is taxed as a corporation for U.S. federal income tax purposes) shall provide two properly completed and duly executed copies of IRS Form W-9 (or any successor or other applicable form) to Funds Administrator and Administrative Agent certifying to such Lender or Administrative Agent is exempt from United States backup withholding tax. To the extent that a form provided pursuant to this Section 2.8(e) is rendered obsolete or inaccurate in any material respects as result of change in circumstances with respect to the status of a Lender or Administrative Agent, such Lender or Administrative Agent shall, to the extent permitted by applicable law, deliver to Funds Administrator and Administrative Agent revised forms necessary to confirm or establish the entitlement to such Lender\u2019s or Administrative Agent\u2019s exemption from United States backup withholding tax.", "hash": "c9f57270bf2c06de50955c57662a2670", "id": 7}, {"size": 37, "snippet_links": [{"key": "payments-made-by", "type": "clause", "offset": [8, 24]}, {"key": "except-as-provided-in", "type": "clause", "offset": [126, 147]}, {"key": "free-and-clear", "type": "clause", "offset": [196, 210]}, {"key": "deduction-or-withholding", "type": "clause", "offset": [227, 251]}, {"key": "future-taxes", "type": "clause", "offset": [272, 284]}, {"key": "other-charges", "type": "clause", "offset": [332, 345]}, {"key": "any-jurisdiction", "type": "definition", "offset": [393, 409]}, {"key": "political-subdivision", "type": "definition", "offset": [420, 441]}, {"key": "with-respect-to", "type": "clause", "offset": [481, 496]}, {"key": "but-excluding", "type": "clause", "offset": [512, 525]}, {"key": "tax-imposed", "type": "clause", "offset": [530, 541]}, {"key": "net-profits", "type": "definition", "offset": [578, 589]}, {"key": "a-bank", "type": "clause", "offset": [593, 599]}, {"key": "the-laws", "type": "definition", "offset": [612, 620]}, {"key": "principal-office", "type": "definition", "offset": [682, 698]}, {"key": "applicable-lending-office", "type": "definition", "offset": [702, 727]}, {"key": "excluded-taxes", "type": "definition", "offset": [877, 891]}, {"key": "to-pay", "type": "clause", "offset": [1057, 1063]}, {"key": "additional-amounts", "type": "definition", "offset": [1104, 1122]}, {"key": "payment-of", "type": "definition", "offset": [1157, 1167]}, {"key": "all-amounts-due", "type": "clause", "offset": [1168, 1183]}, {"key": "agreement-or", "type": "definition", "offset": [1195, 1207]}, {"key": "withholding-or-deduction", "type": "clause", "offset": [1230, 1254]}, {"key": "borrower-will", "type": "clause", "offset": [1361, 1374]}, {"key": "furnish-to-the-agent", "type": "clause", "offset": [1375, 1395]}, {"key": "days-after", "type": "definition", "offset": [1406, 1416]}, {"key": "the-payment", "type": "clause", "offset": [1426, 1437]}, {"key": "applicable-law", "type": "definition", "offset": [1470, 1484]}, {"key": "copies-of", "type": "definition", "offset": [1495, 1504]}, {"key": "tax-receipts", "type": "definition", "offset": [1505, 1517]}, {"key": "payment-by-the-borrower", "type": "clause", "offset": [1534, 1557]}, {"key": "relevant-taxing-authority", "type": "definition", "offset": [1569, 1594]}, {"key": "evidence-of-payment", "type": "clause", "offset": [1636, 1655]}, {"key": "indemnify-and-hold-harmless", "type": "clause", "offset": [1727, 1754]}, {"key": "each-bank", "type": "clause", "offset": [1755, 1764]}, {"key": "written-request", "type": "clause", "offset": [1799, 1814]}, {"key": "united-states-person", "type": "clause", "offset": [1916, 1936]}, {"key": "defined-in-section", "type": "clause", "offset": [1954, 1972]}, {"key": "the-code", "type": "clause", "offset": [1988, 1996]}, {"key": "for-us", "type": "clause", "offset": [1998, 2005]}, {"key": "federal-income-tax-purposes", "type": "clause", "offset": [2007, 2034]}, {"key": "the-borrower-and-the", "type": "clause", "offset": [2056, 2076]}, {"key": "prior-to-the-effective-date", "type": "clause", "offset": [2089, 2116]}, {"key": "in-the-case", "type": "clause", "offset": [2121, 2132]}, {"key": "interest-under-this-agreement", "type": "clause", "offset": [2183, 2212]}, {"key": "pursuant-to-section", "type": "definition", "offset": [2213, 2232]}, {"key": "assignment-or-transfer", "type": "clause", "offset": [2330, 2352]}, {"key": "date-of", "type": "clause", "offset": [2361, 2368]}, {"key": "transfer-to", "type": "clause", "offset": [2388, 2399]}, {"key": "accurate-and-complete", "type": "clause", "offset": [2419, 2440]}, {"key": "signed-copies", "type": "clause", "offset": [2450, 2463]}, {"key": "form-4224", "type": "definition", "offset": [2492, 2501]}, {"key": "withholding-tax", "type": "clause", "offset": [2628, 2643]}, {"key": "payments-to-be-made", "type": "clause", "offset": [2660, 2679]}, {"key": "meaning-of", "type": "clause", "offset": [2767, 2777]}, {"key": "form-1001", "type": "definition", "offset": [2862, 2871]}, {"key": "pursuant-to-clause", "type": "clause", "offset": [2880, 2898]}, {"key": "form-of", "type": "definition", "offset": [2949, 2956]}, {"key": "exhibit-d", "type": "definition", "offset": [2957, 2966]}, {"key": "form-w-8", "type": "definition", "offset": [3112, 3120]}, {"key": "payments-of-interest", "type": "definition", "offset": [3286, 3306]}, {"key": "in-addition", "type": "clause", "offset": [3359, 3370]}, {"key": "from-time-to-time", "type": "clause", "offset": [3394, 3411]}, {"key": "after-the-effective-date", "type": "clause", "offset": [3412, 3436]}, {"key": "in-time", "type": "definition", "offset": [3451, 3458]}, {"key": "change-in-circumstances", "type": "definition", "offset": [3462, 3485]}, {"key": "material-respect", "type": "definition", "offset": [3551, 3567]}, {"key": "other-forms", "type": "clause", "offset": [3795, 3806]}, {"key": "in-order-to", "type": "clause", "offset": [3826, 3837]}, {"key": "in-united-states", "type": "clause", "offset": [3931, 3947]}, {"key": "payments-under-this-agreement", "type": "clause", "offset": [3980, 4009]}, {"key": "notify-the", "type": "clause", "offset": [4048, 4058]}, {"key": "inability-to-deliver", "type": "clause", "offset": [4089, 4109]}, {"key": "a-change", "type": "clause", "offset": [4276, 4284]}, {"key": "on-the-effective-date", "type": "clause", "offset": [4366, 4387]}, {"key": "governmental-rule", "type": "definition", "offset": [4515, 4532]}, {"key": "contained-in", "type": "definition", "offset": [4641, 4653]}, {"key": "subject-to-section", "type": "clause", "offset": [4675, 4693]}, {"key": "the-borrower-shall", "type": "clause", "offset": [4748, 4766]}, {"key": "to-the-extent", "type": "clause", "offset": [4780, 4793]}, {"key": "income-or-similar-taxes", "type": "clause", "offset": [4848, 4871]}, {"key": "the-united-states", "type": "definition", "offset": [4883, 4900]}, {"key": "other-amounts-payable", "type": "clause", "offset": [4994, 5015]}, {"key": "the-account", "type": "clause", "offset": [5030, 5041]}, {"key": "internal-revenue-service-forms", "type": "clause", "offset": [5255, 5285]}, {"key": "in-respect-of", "type": "clause", "offset": [5478, 5491]}, {"key": "the-internal-revenue-service", "type": "definition", "offset": [5595, 5623]}, {"key": "forms-required", "type": "clause", "offset": [5624, 5638]}, {"key": "in-clause", "type": "clause", "offset": [5778, 5787]}, {"key": "withholding-of", "type": "clause", "offset": [5873, 5887]}, {"key": "any-change", "type": "definition", "offset": [6385, 6395]}, {"key": "relating-to", "type": "definition", "offset": [6543, 6554]}, {"key": "sole-discretion", "type": "definition", "offset": [6712, 6727]}, {"key": "in-connection", "type": "definition", "offset": [6770, 6783]}, {"key": "reduction-of", "type": "clause", "offset": [6812, 6824]}, {"key": "tax-liabilities", "type": "definition", "offset": [6849, 6864]}, {"key": "taxable-year", "type": "clause", "offset": [6891, 6903]}, {"key": "tax-benefit", "type": "definition", "offset": [6947, 6958]}, {"key": "pay-to", "type": "definition", "offset": [6978, 6984]}, {"key": "the-bank-shall", "type": "clause", "offset": [7013, 7027]}, {"key": "equal-to", "type": "definition", "offset": [7066, 7074]}, {"key": "net-benefit", "type": "clause", "offset": [7079, 7090]}, {"key": "after-tax", "type": "clause", "offset": [7092, 7101]}, {"key": "by-the-bank", "type": "clause", "offset": [7122, 7133]}, {"key": "policies-of", "type": "definition", "offset": [7280, 7291]}, {"key": "expiration-of", "type": "clause", "offset": [7442, 7455]}, {"key": "credit-carryover", "type": "definition", "offset": [7464, 7480]}, {"key": "payment-to-the", "type": "clause", "offset": [7608, 7622]}, {"key": "nothing-in-this-section", "type": "clause", "offset": [7826, 7849]}, {"key": "require-the", "type": "clause", "offset": [7864, 7875]}, {"key": "to-disclose", "type": "definition", "offset": [7881, 7892]}, {"key": "any-confidential-information", "type": "clause", "offset": [7893, 7921]}, {"key": "without-limitation", "type": "clause", "offset": [7950, 7968]}, {"key": "tax-returns", "type": "clause", "offset": [7974, 7985]}], "samples": [{"hash": "2mz531xRJ9A", "uri": "/contracts/2mz531xRJ9A#net-payments", "label": "Credit Agreement (Universal Compression Holdings Inc)", "score": 18.0, "published": true}], "snippet": "(a) All payments made by the Borrower hereunder or under any Note will be made without setoff, counterclaim or other defense. Except as provided in Section 4.04(b), all such payments will be made free and clear of, and without deduction or withholding for, any present or future taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction or by any political subdivision or taxing authority thereof or therein with respect to such payments (but excluding any tax imposed on or measured by the net income or net profits of a Bank pursuant to the laws of the jurisdiction in which it is organized or in which the principal office or applicable lending office of such Bank is located or any subdivision thereof or therein) and all interest, penalties or similar liabilities with respect thereto (all such non-excluded taxes, levies, imposts, duties, fees, assessments or other charges being referred to collectively, as \"Taxes\"). If any Taxes are so levied or imposed, the Borrower agrees to pay the full amount of such Taxes, and such additional amounts as may be necessary so that every payment of all amounts due under this Agreement or under any Note, after withholding or deduction for or on account of any Taxes, will not be less than the amount provided for herein or in such Note. The Borrower will furnish to the Agent within 45 days after the date the payment of any Taxes is due pursuant to applicable law certified copies of tax receipts evidencing such payment by the Borrower or, if the relevant taxing authority does not issue such receipts, such other evidence of payment as may be reasonably satisfactory to the Agent. The Borrower agrees to indemnify and hold harmless each Bank, and reimburse such Bank upon its written request, for the amount of any Taxes so levied or imposed and paid by such Bank.\n(b) Each Bank that is not a United States person (as such term is defined in Section 7701(a)(30) of the Code) for U.S. Federal income tax purposes agrees to deliver to the Borrower and the Agent on or prior to the Effective Date, or in the case of a Bank that is an assignee or transferee of an interest under this Agreement pursuant to Section 1.13 or 13.04 (unless the respective Bank was already a Bank hereunder immediately prior to such assignment or transfer) on the date of such assignment or transfer to such Bank, (i) two accurate and complete original signed copies of Internal Revenue Service Form 4224 or 1001 (or successor forms) certifying to such Bank's entitlement as of such date to a complete exemption from United States withholding tax with respect to payments to be made under this Agreement and under any Note or (ii) if the Bank is not a \"bank\" within the meaning of Section 881(c)(3)(A) of the Code and cannot deliver either Internal Revenue Service Form 1001 or 4224 pursuant to clause (i) above, (x) a certificate substantially in the form of Exhibit D (any such certificate, a \"Section 4.04(b)(ii) Certificate\") and (y) two accurate and complete original signed copies of Internal Revenue Service Form W-8 (or successor form) certifying to such Bank's entitlement on the date of such certificate to a complete exemption from United States withholding tax with respect to payments of interest to be made under this Agreement and under any Note. In addition, each Bank agrees that from time to time after the Effective Date, when a lapse in time or change in circumstances renders the previous certification obsolete or inaccurate in any material respect, it will deliver to the Borrower and the Agent two new accurate and complete original signed copies of Internal Revenue Service Form 4224 or 1001, or Form W-8 and a Section 4.04(b)(ii) Certificate, as the case may be, and such other forms as may be required in order to confirm or establish the entitlement of such Bank to a continued exemption from or reduction in United States withholding tax with respect to payments under this Agreement and any Note, or it shall immediately notify the Borrower and the Agent of its inability to deliver any such Form or Certificate. Such Bank shall not be required to deliver any such Form or Certificate pursuant to this Section 4.04(b) if such inability results from a change after the Effective Date (or, in the case of a Bank that is not a Bank hereunder on the Effective Date, a change after the date such Bank became an assignee or a transferee of an interest hereunder) in any applicable law, treaty, governmental rule, regulation, guideline or order, or in the interpretation thereof. Notwithstanding anything to the contrary contained in Section 4.04(a), but subject to Section 13.04(b) and the immediately succeeding sentence, (x) the Borrower shall be entitled, to the extent it is required to do so by law, to deduct or withhold income or similar taxes imposed by the United States (or any political subdivision or taxing authority thereof or therein) from interest, Fees or other amounts payable hereunder for the account of any Bank which is not a United States person (as such term is defined in Section 7701(a)(30) of the Code) for U.S. Federal income tax purposes to the extent that such Bank has not provided to the Borrower U.S. Internal Revenue Service Forms that establish a complete exemption from such deduction or withholding and (y) the Borrower shall not be obligated pursuant to Section 4.04(a) hereof to gross-up payments to be made to a Bank in respect of income or similar taxes imposed by the United States if (I) such Bank has not provided to the Borrower the Internal Revenue Service Forms required to be provided to the Borrower pursuant to this Section 4.04(b) or (II) in the case of a payment, other than interest, to a Bank described in clause (ii) above, to the extent that such Forms do not establish a complete exemption from withholding of such taxes. Notwithstanding anything to the contrary contained in the preceding sentence or elsewhere in this Section 4.04 and except as set forth in Section 13.04(b), the Borrower agrees to pay any additional amounts and to indemnify each Bank in the manner set forth in Section 4.04(a) (without regard to the identity of the jurisdiction requiring the deduction or withholding) in respect of any Taxes deducted or withheld by it as described in the immediately preceding sentence as a result of any change on or after the Effective Date in any applicable law, treaty, governmental rule, regulation, guideline or order, or in the interpretation thereof, relating to the deducting or withholding of such Taxes.\n(c) If the Borrower pays any additional amount under this Section 4.04 to a Bank and such Bank determines in its sole discretion that it has actually received or realized in connection therewith any refund or any reduction of, or credit against, its Tax liabilities in or with respect to the taxable year in which the additional amount is paid (a \"Tax Benefit\"), such Bank shall pay to the Borrower an amount that the Bank shall, in its sole discretion, determine is equal to the net benefit, after tax, which was obtained by the Bank in such year as a consequence of such Tax Benefit; provided, however, that (i) any Bank may determine, in its sole discretion consistent with the policies of such Bank, whether to seek a Tax Benefit; (ii) any Taxes that are imposed on a Bank as a result of a disallowance or reduction (including through the expiration of any tax credit carryover or carryback of such Bank that otherwise would not have expired) of any Tax Benefit with respect to which such Bank has made a payment to the Borrower pursuant to this Section 4.04(c) shall be treated as a Tax for which the Borrower is obligated to indemnify such Bank pursuant to this Section 4.04 without any exclusions or defenses; and (iii) nothing in this Section 4.04(c) shall require the Bank to disclose any 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the Borrower and the Bank making any such Competitive Bid Loan), in such amounts as may be necessary in order that all such payments (after deduction or withholding for or on account of any present or future taxes, levies, imposts, duties or other charges of whatsoever nature imposed by any Governmental Authority, other than any tax on or measured by the net income of a Bank pursuant to the income tax laws of the United States or of the jurisdictions where such Bank's principal or Applicable Lending Office is located (collectively, \"Taxes\")) shall not be less than the amounts otherwise specified to be paid under this Agreement. If the applicable Borrower or the Company is required by law to make any deduction or withholding from any payment due hereunder, then the amount payable will be increased to such amount which, after deduction from such increased amount of all amounts required to be deducted or withheld therefrom, will not be less than the amount otherwise due and payable. Without prejudice to the foregoing, if any Bank or the Administrative Agent is required to make any payment on account of Taxes, the Company will, upon notification by the Bank or the Administrative Agent promptly indemnify such person against such Taxes, together with any interest, penalties and expenses payable or incurred in connection therewith. The Company shall also reimburse each Bank, upon the written request of such Bank, for taxes imposed on or measured by the net income of such Bank pursuant to the laws of the United States of America, any State or political subdivision thereof, or the jurisdiction in which the principal office or lending office of such Bank is located or under the laws of any political subdivision or taxing authority of any such jurisdiction as such Bank shall determine are payable by such Bank in respect of Taxes paid to or on behalf of such Bank pursuant to Section 2. For purposes of this Section, the term \"Taxes\" includes interest, penalties and expenses payable or incurred in connection therewith. A certificate as to any additional amounts payable to a Bank under this Section 2.10(f) submitted to the Company by such Bank shall, absent manifest error, be final, conclusive and binding for all purposes upon all parties hereto. With respect to each deduction or withholding for or on account of any Taxes, the Company shall promptly furnish to each Bank such certificates, receipts and other documents as may be required (in the judgment of such Bank) to establish any tax credit to which such Bank may be entitled.\n(ii) Each Bank shall supply to the Company, within a reasonable period after the date of execution of this Agreement, executed copies of Internal Revenue Service Form W-8ECI or W-8BEN (which indicates that the respective Bank is entitled to receive interest exempt from United States withholding tax) or any successor Forms, and shall update such Forms as necessary in order to retain their effectiveness, to the extent each such Bank is legally entitled to execute and deliver either of such Forms.\n(iii) With respect to any Taxes which are paid by any Borrower in accordance with the provisions of this Section 2.10(f), each Bank receiving the benefits of such payments of Taxes hereby agrees to pay to such 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payments made by the Borrower under this Agreement shall be made free and clear of, and without deduction or withholding for or on account of, any current or future income or other taxes, levies, imposts, duties, charges, fees, deductions or withholdings, now or hereafter imposed, levied, collected, withheld or assessed by any Governmental Authority, excluding (A) any net income taxes, franchise taxes (imposed in lieu of net income taxes) and branch profits taxes imposed on the Administrative Agent or any Lender, (B) any such taxes attributable to the failure of the Administrative Agent or any Lender to comply with Section 5.3(c) and (C) any such taxes imposed on the Administrative Agent or any Lender as a result of a current or former connection between the Administrative Agent or such Lender and the jurisdiction of the Governmental Authority imposing such tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely from the Administrative Agent or such Lender having executed, delivered or performed its obligations or received a payment under, or enforced, this Agreement) (\u201cTaxes\u201d) except to the extent that such deduction or withholding is required by any applicable law, as modified by the administrative practice of any relevant Governmental Authority then in effect.\n(ii) Subject to Section 5.3(b), if any such Taxes are required to be withheld from any amounts payable to the Administrative Agent or any Lender hereunder, the Borrower shall:\n(A) promptly notify the Administrative Agent of such requirement;\n(B) promptly pay to the relevant Governmental Authority when due the full amount required to be deducted or withheld (including the full amount of Taxes required to be deducted or withheld from any additional amount paid by the Borrower to the Administrative Agent or such Lender under this Section 5.3(a));\n(C) as promptly as possible thereafter, forward to the Administrative Agent an official receipt (or a certified copy), or other documentation reasonably acceptable to the Administrative Agent, evidencing such payment to such Governmental Authority; and\n(D) pay to the Administrative Agent or such Lender, in addition to the payment to which the Administrative Agent or such Lender is otherwise entitled under this Agreement, such additional amount as is necessary to ensure that the net amount actually received by the Administrative Agent or such Lender, after deduction or withholding for any such Taxes, will equal the full amount the Administrative Agent or such Lender would have received had no such deduction or withholding been required.\n(iii) If the Borrower fails to pay to the relevant Governmental Authority when due any Taxes that it was required to deduct or withhold under this Section 5.3(a) in respect of any payment to or for the benefit of the Administrative Agent or any Lender under this Agreement or fails to furnish the Administrative Agent with the documentation referred to in Section 5.3(a)(ii)(C) when required to do so, the Borrower shall forthwith on demand fully indemnify the Administrative Agent or such Lender for any incremental taxes, interest, costs or penalties that may become payable by the Administrative Agent or such Lender as a result of such failure.\n(iv) The Borrower\u2019s obligations under this Section 5.3(a) shall survive the termination of this Agreement and the payment of the Revolving Credit Loans and the Swingline Loans and all other amounts payable hereunder.\n(b) Notwithstanding Section 5.3(a), the Borrower shall not be required to indemnify or pay any additional amounts in respect of withholding tax applicable to any amount payable under this Agreement pursuant to Section 5.3(a) above to any Non-U.S. Lender, except if any such Revolving Credit Loans or Swingline Loans were assigned, participated or transferred to such Non-U.S. Lender at the request or with the consent of the Borrower or were assigned, participated or 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All payments by the Borrowers hereunder shall be made free and clear of and without deduction or withholding for any Taxes (as hereinafter defined), except to the extent that such deduction or withholding is required by law. For purposes of this Section 4.04, \"Taxes\" shall mean any present or future license, registration or other fees, taxes or other amounts for or on account of levies, imposts, duties, deductions, withholdings or other charges of whatsoever nature, imposed, levied, collected, withheld or assessed by any governmental or taxing authority, excluding income and franchise taxes imposed on a Lender (i) by a jurisdiction under which such Lender is organized or operating in connection with this Agreement or any political subdivision thereof or (ii) as a result of a present or former connection between the jurisdiction of the governmental or taxing authority imposing such taxes and the Lender. If the Borrowers shall be required to withhold or deduct Taxes (other than U.S. Taxes as defined in Section 4.05) from any sum payable hereunder, (i) the sum payable shall be increased as may be necessary so that the amount received is equal to the sum which would have been received had no withholdings or deductions been made, (ii) the Borrowers shall make such necessary withholdings or deductions and (iii) the Borrowers shall pay the full amount withheld or deducted to the relevant authority according to applicable law so that the Lenders shall not be required to make any deduction or payment of Taxes. Notwithstanding anything contained in this Section, the Borrowers shall not be required to make payment hereunder to the extent such amounts relate to any period prior to the date that is 90 days prior to the date that the Borrowers first receive notice from such Lender requesting payment of any such additional amounts. Each Lender making a request for compensation under this Section shall use reasonable efforts to change its Eurodollar lending office with a view to mitigate amounts payable hereunder so long as any such change is not unduly burdensome to the Lender.", "hash": "a852cccd97e3043abda7a6708ed7240f", "id": 8}, {"size": 44, "snippet_links": [{"key": "section-303", "type": "definition", "offset": [30, 42]}, {"key": "payments-made-by", "type": "clause", "offset": [51, 67]}, {"key": "loan-document", "type": "clause", "offset": [120, 133]}, {"key": "guaranty-obligations", "type": "definition", "offset": [195, 215]}, {"key": "free-and-clear", "type": "clause", "offset": [249, 263]}, {"key": "deduction-or-withholding", "type": "clause", "offset": [280, 304]}, {"key": "future-taxes", "type": "clause", "offset": [325, 337]}, {"key": "other-charges", "type": "clause", "offset": [385, 398]}, {"key": "any-jurisdiction", "type": "definition", "offset": [446, 462]}, {"key": "political-subdivision", 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"type": "clause", "offset": [6174, 6207]}, {"key": "tax-on-payments", "type": "clause", "offset": [6307, 6322]}, {"key": "a-person", "type": "definition", "offset": [6528, 6536]}, {"key": "reasonable-discretion", "type": "clause", "offset": [6672, 6693]}, {"key": "costs-and-expenses", "type": "clause", "offset": [7004, 7022]}, {"key": "in-the-event", "type": "clause", "offset": [7150, 7162]}, {"key": "to-repay", "type": "clause", "offset": [7187, 7195]}, {"key": "relevant-taxing-authority", "type": "definition", "offset": [7215, 7240]}, {"key": "provide-the", "type": "clause", "offset": [7264, 7275]}, {"key": "a-copy-of", "type": "clause", "offset": [7290, 7299]}, {"key": "notice-of-assessment", "type": "clause", "offset": [7304, 7324]}, {"key": "confidential-information", "type": "clause", "offset": [7385, 7409]}, {"key": "repayment-of", "type": "clause", "offset": [7439, 7451]}, {"key": "nothing-contained", "type": "clause", "offset": [7465, 7482]}, {"key": "to-apply", "type": "clause", "offset": [7531, 7539]}], "samples": [{"hash": "4Y0iZe1psu", "uri": "/contracts/4Y0iZe1psu#net-payments", "label": "Credit Agreement (Circor International Inc)", "score": 20.338809967, "published": true}, {"hash": "7qCgl1kSHjv", "uri": "/contracts/7qCgl1kSHjv#net-payments", "label": "Credit Agreement (Circor International Inc)", "score": 19.5831623077, "published": true}, {"hash": "eSJFjTqAhyR", "uri": "/contracts/eSJFjTqAhyR#net-payments", "label": "Credit Agreement (Circor International Inc)", "score": 19.0, "published": true}], "snippet": "(a) Except as provided for in Section 3.03(b), all payments made by the Borrower hereunder, under any Note or any other Loan Document, including all payments made by the Borrower pursuant to its guaranty obligations under Section 2.15, will be made free and clear of, and without deduction or withholding for, any present or future taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction or by any political subdivision or taxing authority thereof or therein with respect to such payments (but excluding, with respect to the Administrative Agent, any Lender, or any other recipient of any payment made by the Borrower hereunder, (i) any tax imposed on or measured by the net income or net profits of such Person and franchise taxes imposed on it pursuant to the laws of the jurisdiction under which such Lender is organized or the jurisdiction in which the principal office or Applicable Lending Office of such Lender, as applicable, is located or in which it is otherwise doing business or any subdivision thereof or therein, and (ii) any branch profits or similar taxes imposed by any jurisdiction in which such Person is located) and all interest, penalties or similar liabilities with respect to such non-excluded taxes, levies imposts, duties, fees, assessments or other charges other than those resulting from the gross negligence or willful misconduct of the Administrative Agent, any Lender, or any other recipient of any payment made by the Borrower hereunder (all such non-excluded taxes, levies, imposts, duties, fees, assessments or other charges being referred to collectively as \u201cTaxes\u201d). If any Taxes are so levied or imposed, the Borrower agrees to pay the full amount of such Taxes and such additional amounts (including additional amounts to compensate for withholding on amounts paid pursuant to this Section 3.03) as may be necessary so that every payment by it of all amounts due hereunder, under any Note or under any other Loan Document, after withholding or deduction of any Taxes will not be less than the amount provided for herein or in such Note or in such other Loan Document. The Borrower will indemnify and hold harmless any Lender, and reimburse such Lender upon its written request, for the amount of any Taxes imposed on and paid by such Lender. The Borrower will furnish to the Administrative Agent within 45 days after the date the payment of any Taxes, or any withholding or deduction on account thereof, is due pursuant to applicable law certified copies of tax receipts, or other evidence reasonably satisfactory to the respective Lender, evidencing such payment by the Borrower.\n(b) Each Lender that is not a United States person (as such term is defined in Section 7701(a)(30) of the Code) for federal income tax purposes and that is entitled to claim an exemption from or reduction in United States withholding tax with respect to a payment by Borrower agrees to provide to the Borrower and the Administrative Agent on or prior to the Closing Date, or in the case of a Lender that is an assignee or transferee of an interest under this Agreement pursuant to Section 11.06 (unless the respective Lender was already a Lender hereunder immediately prior to such assignment or transfer and such Lender is in compliance with the provisions of this Section), on or prior to the date of such assignment or transfer to such Lender, and from time to time thereafter if required by the Borrower or the Administrative Agent two accurate and complete original signed copies of Internal Revenue Service Forms W-8BEN, W-8ECI, W-8EXP or W-8IMY (or successor, substitute or other appropriate forms and, in the case of Form W-8IMY, complete with accompanying Forms W-8BEN with respect to beneficial owners of the payment) certifying to such Lender\u2019s entitlement to exemption from or a reduced rate of withholding of United States withholding tax with respect to payments to be made under this Agreement, any Note or any other Loan Document, along with any other appropriate documentation establishing such exemption or reduction (such as statements certifying qualification for exemption with respect to portfolio interest). In addition, each Lender agrees that from time to time after the Closing Date, when a lapse in time or change in circumstances renders the previous certification obsolete or inaccurate in any material respect, it will deliver to the Borrower and the Administrative Agent two new accurate and complete original signed copies of the applicable Internal Revenue Service form establishing such exemption or reduction (such as statements certifying qualification for exemption with respect to portfolio interest) and any related documentation as may be required to confirm or establish the entitlement of such Lender to a continued exemption from or reduction in United States withholding tax if the Lender continues to be so entitled. No Lender shall be required by this Section 3.03(b) to deliver a form or certificate that it is not legally entitled to deliver. The Borrower shall not be obligated pursuant to Section 3.03(a) to pay additional amounts on account of or indemnify with respect to Taxes to the extent that such Taxes arise solely due to a Lender\u2019s failure to deliver forms that it was legally entitled to but failed to deliver under this Section 3.03(b). The Borrower agrees to pay additional amounts and indemnify each Lender in the manner set forth in Section 3.03(a) in respect of any Taxes deducted or withheld by it as a result of any changes after the date such Lender becomes party to this Agreement in any applicable law, treaty, governmental rule, regulation, guideline or order, or in the interpretation thereof, relating to the deducting or withholding of income or similar Taxes.\n(c) Each Lender or Administrative Agent that is a United States person (as such term is defined in Section 7701(a)(30) of the Code) for federal income tax purposes shall deliver at the time(s) and in the manner(s) prescribed by applicable law, to the Borrower and the Administrative Agent (as applicable), a properly completed and duly executed Internal Revenue Service Form W-9 or any successor form, certifying that such Person is exempt from United States backup withholding tax on payments made hereunder. The Borrower shall not be obligated pursuant to Section 3.03(a) to pay additional amounts on account of or indemnify with respect to Taxes to the extent that such Taxes arise solely due to a Person\u2019s failure to deliver forms that it was legally entitled to but failed to deliver under this Section 3.03(c).\n(d) If any Lender, in its reasonable discretion, determines that it has finally and irrevocably received or been granted a refund in respect of any Taxes as to which indemnification has been paid by the Borrower pursuant to this Section 3.03, it shall promptly remit such refund (including any interest received in respect thereof), net of all out-of-pocket costs and expenses to the Borrower; provided, however, that the Borrower agrees to promptly return any such refund (plus interest) to such Lender in the event such Lender is required to repay such refund to the relevant taxing authority. Any such Lender shall provide the Borrower with a copy of any notice of assessment from the relevant taxing authority (redacting any unrelated confidential information contained therein) requiring repayment of such refund. Nothing contained herein shall impose an obligation on any Lender to apply for any such refund.", "hash": "5a6f55d273653bd3cb6d91c0f7b7bc0c", "id": 5}], "next_curs": "ClUST2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjELEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhVuZXQtcGF5bWVudHMjMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 2086, "parents": [["payments", "Payments"], ["prepayments-payments-taxes", "Prepayments Payments Taxes"], ["miscellaneous", "Miscellaneous"], ["guarantee", "Guarantee"], ["taxes", "Taxes"]], "children": [["evidence-of-payments", "Evidence of Payments"], ["treatment-of-certain-refunds", "Treatment of Certain Refunds"], ["tax-indemnifications", "Tax Indemnifications"], ["payment-of-other-taxes-by-the-borrower", "Payment of Other Taxes by the Borrower"], ["", ""]], "title": "Net Payments", "id": "net-payments", "related": [["filot-payments", "FILOT PAYMENTS", "FILOT PAYMENTS"], ["\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587-payments", "\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Payments", "\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Payments"], ["earnout-payments", "Earnout Payments", "Earnout Payments"], ["earn-out-payments", "Earn-Out Payments", "Earn-Out Payments"], ["settlement-payments", "Settlement Payments", "Settlement Payments"]], "related_snippets": [], "updated": "2026-06-09T05:48:27+00:00", "also_ask": ["What are the most effective negotiation levers for defining 'Net Payments'?", "Which deductions or offsets must be explicitly included or excluded in the clause?", "What are the most common ambiguities or loopholes that create litigation risk?", "How do 'Net Payments' provisions differ across jurisdictions or industry standards?", "What evidence is typically required to enforce or challenge a 'Net Payments' calculation in court?"], "drafting_tip": "Specify calculation methods, identify applicable deductions, and clarify payment timelines to ensure transparency, prevent disputes, and facilitate timely settlements.", "explanation": "The Net Payments clause defines how payments between parties are to be calculated and settled after accounting for any deductions, offsets, or withholdings required by law or contract. In practice, this means that if one party owes another a sum, but is also entitled to receive payments or deduct certain amounts (such as taxes or prior debts), only the net amount\u2014the difference after all adjustments\u2014is actually paid. This clause ensures that only the true outstanding balance is exchanged, preventing unnecessary back-and-forth payments and reducing administrative complexity."}, "json": true, "cursor": ""}}