No Set Off or Tax Deduction Clause Samples
No Set Off or Tax Deduction. No deductions All amounts due from the Borrower under a Finance Document shall be paid: (a) without any form of set-off, cross-claim or condition; and
No Set Off or Tax Deduction. No deductions Grossing-up for taxes Indemnity and evidence of payment of taxes Exclusion of tax on overall net income
No Set Off or Tax Deduction. (a) All amounts due from Shipowner under this Mortgage and the Note shall be paid (i) without any form of set-off, counterclaim, cross-claim or condition, and (ii) free and clear of any tax deduction except a tax deduction which Shipowner is required by law to make. In this Section, "tax deduction" means any deduction or withholding for or on account of any present or future tax.
(b) If Shipowner is required by law to make a tax deduction from any payment:
(i) it shall notify Mortgagee as soon as it becomes aware of the requirement; and
(ii) it shall pay the tax deducted to the appropriate taxation authority promptly, and in any event before any fine or penalty arises.
No Set Off or Tax Deduction. (a) Any payment made by the Sellers to the Buyers under this Agreement shall be paid:
(i) without any form of set-off, cross-claim or condition; and
(ii) free and clear of any tax deduction (other than a FATCA Deduction) or withholding unless required by law.
(b) Without prejudice to paragraph (a) of this Clause, if the Sellers are required by law to make a tax deduction from any payment:
(i) the Sellers shall notify the Buyers as soon as they become aware of the requirement; and
(ii) the amount due in respect of the payment shall be increased by the amount necessary to ensure that the Buyers receive and retain (free from any liability relating to the tax deduction) a net amount which, after the tax deduction, is equal to the full amount which they would otherwise have received.
(c) In this Clause, "tax deduction" means any deduction or withholding for or on account of any present or future tax.
No Set Off or Tax Deduction. (a) Any payment made by the Sellers to the Buyers under this Agreement shall be paid:
(i) (other than the set-off under Clause 19(b)(A)) without any form of set-off, cross-claim or condition; and
(ii) free and clear of any tax deduction or withholding unless required by law. Huarong Top Ships IIMOA Riders - Eco MalibuSINGAPORE/91895305v1
(b) Without prejudice to paragraph (a) of this Clause, if the Sellers are required by law to make a tax deduction from any payment:
(i) the Sellers shall notify the Buyers as soon as they become aware of the requirement; and
(ii) the amount due in respect of the payment shall be increased by the amount necessary to ensure that the Buyers receive and retain (free from any liability relating to the tax deduction) a net amount which, after the tax deduction, is equal to the full amount which they would otherwise have received.
(c) In this Clause, "tax deduction" means any deduction or withholding for or on account of any present or future tax.
No Set Off or Tax Deduction. (a) All amounts due from Shipowner under the Security Documents shall be paid (i) without any form of set-off, counterclaim, cross-claim or condition, and (ii) free and clear of any tax deduction except a tax deduction which Shipowner is required by law to make. In this Section, "tax deduction" means any deduction or withholding for or on account of any present or future tax.
(b) If Shipowner is required by law to make a tax deduction from any payment:
(i) it shall notify Mortgagee as soon as it becomes aware of the requirement; and
(ii) it shall pay the tax deducted to the appropriate taxation authority promptly, and in any event before any fine or penalty arises.
(c) If requested by Mortgagee, within one (1) month after making the payment referred to in (b)(ii) above in this Section, Shipowner shall deliver to Mortgagee documentary evidence satisfactory to Mortgagee that the tax concerned has been paid to the appropriate taxation authority.
No Set Off or Tax Deduction