NOTICE OF CHANGES; PROOF OF PAYMENT. If at any time the Company is required by law to make any deduction or withholding from any sum payable by it hereunder or in connection herewith (or if thereafter there is any change in the rates at which or the manner in which such deductions or withholdings are calculated) the Company shall promptly notify the Administrative Agent thereof. If the Company makes any payment hereunder or in connection herewith in respect of which it is required by law to make any deduction or withholding it shall pay the full amount to be deducted or withheld to the relevant taxation or other authority within the time allowed for such payment under applicable law and shall deliver to the Administrative Agent within thirty (30) days after it has made such payment to the applicable authority (i) a receipt issued by such authority or (ii) other evidence reasonably satisfactory to the Administrative Agent evidencing the payment to such authority of all amounts so required to be deducted or withheld from such payment.
Appears in 3 contracts
Samples: Credit Agreement (Ocean Energy Inc), Credit Agreement (United Meridian Corp), Credit Agreement (Ocean Energy Inc)
NOTICE OF CHANGES; PROOF OF PAYMENT. If at any time the Company is required by law to make any deduction or withholding from any sum payable by it hereunder or in connection herewith (or if thereafter there is any change in the rates at which or the manner in which such deductions or withholdings are calculated) ), the Company shall promptly notify the Administrative Agent thereof. If the Company makes any payment hereunder or in connection herewith in respect of for which it is required by law to make any deduction or withholding withholding, it shall pay the full amount to be deducted or withheld to the relevant taxation or other authority within the time allowed for such payment under applicable law and shall deliver to the Administrative Agent within thirty (30) days after it has made such payment to the applicable authority (i) a receipt issued by such authority or (ii) other evidence reasonably satisfactory to the Administrative Agent evidencing the payment to such authority of all amounts so required to be deducted or withheld from such payment.
Appears in 3 contracts
Samples: Global Credit Agreement (Ocean Energy Inc), Global Credit Agreement (Ocean Energy Inc), Global Credit Agreement (Ocean Energy Inc)