Common use of Payments Free of Taxes; Obligation to Withhold; Tax Payment Clause in Contracts

Payments Free of Taxes; Obligation to Withhold; Tax Payment. (a) All payments of Obligations by Obligors shall be made without deduction or withholding for any Taxes, except as required by Applicable Law. If Applicable Law (as determined by Agent in its discretion) requires the deduction or withholding of any Tax from any such payment by Agent or an Obligor, then Agent or such Obligor shall be entitled to make such deduction or withholding based on information and documentation provided pursuant to Section 5.10. (b) If Agent or any Obligor is required by the Code to withhold or deduct Taxes, including backup withholding and withholding taxes, from any payment, then (i) Agent shall withhold or make such deductions as are determined by Agent to be required based upon the information and documentation it has received pursuant to Section 5.10 below, (ii) Agent shall pay the full amount that it determines is to be withheld or deducted to the relevant Governmental Authority pursuant to the Code, and (iii) to the extent the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Obligor shall be increased as necessary so that the Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. (c) If Agent or any Obligor is required by any Applicable Law other than the Code to withhold or deduct Taxes from any payment, then (i) Agent or such Obligor shall withhold or make such deductions as are determined by Agent or such Obligor to be required based upon the information and documentation it has received pursuant to Section 5.10 below, (ii) Agent or such Obligor, to the extent required by Applicable Law, shall timely pay the full amount to be withheld or deducted to the relevant Governmental Authority, and (iii) to the extent the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Obligor shall be increased as necessary so that the Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. 5.9.2.

Appears in 1 contract

Samples: Loan and Security Agreement (Commercial Vehicle Group, Inc.)

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Payments Free of Taxes; Obligation to Withhold; Tax Payment. (a) All payments of Obligations by Obligors shall be made without deduction or withholding for any Taxes, except as required by Applicable Law. If Applicable Law (as determined by Agent in its discretion) requires the deduction or withholding of any Tax from any such payment by Agent or an Obligor, then Agent or such Obligor shall be entitled to make such deduction or withholding based on information and documentation provided pursuant to Section 5.105.9 . (b) If Agent or any Obligor is required by the Code to withhold or deduct Taxes, including backup withholding and withholding taxes, from any payment, then (i) Agent shall withhold or make such deductions as are determined by Agent to be required based upon the information and documentation it has received pursuant to Section 5.10 below, (ii) Agent shall pay the full amount that it determines is to be withheld or deducted to the relevant Governmental Authority pursuant to the Code, and (iiiii) to the extent the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Obligor shall be increased as necessary so that the Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. (c) If Agent or any Obligor is required by any Applicable Law other than the Code to withhold or deduct Taxes from any payment, then (i) Agent or such Obligor shall withhold or make such deductions as are determined by Agent or such Obligor to be required based upon the information and documentation it has received pursuant to Section 5.10 below, (ii) Agent or such Obligor, to the extent required by Applicable Law, shall timely pay the full amount to be withheld or deducted to the relevant Governmental Authority, and (iiiii) to the extent the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Obligor shall be increased as necessary so that the Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. 5.9.25.8.2.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Key Tronic Corp)

Payments Free of Taxes; Obligation to Withhold; Tax Payment. (a) All payments of Obligations by Obligors Loan Parties shall be made without deduction or withholding for any Taxes, except as required by Applicable applicable Law. If Applicable applicable Law (as determined by the Administrative Agent in its discretion) requires the deduction or withholding of any Tax from any such payment by the Administrative Agent or an Obligora Loan Party, then the Administrative Agent or such Obligor Loan Party shall be entitled to make such deduction or withholding based on information and documentation provided pursuant to Section 5.103.01(f). (b) If the Administrative Agent or any Obligor Loan Party is required by the Code to withhold or deduct Taxes, including backup withholding and withholding taxes, from any payment, then (i) the Administrative Agent shall withhold or make such deductions Loan Party, as are determined by Agent to be required based upon the information and documentation it has received pursuant to Section 5.10 belowapplicable, (ii) Agent shall pay the full amount that it determines is to be withheld or deducted to the relevant Governmental Authority pursuant to the Code, and (iiiii) to the extent the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Obligor Loan Party shall be increased as necessary so that the Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. (c) If the Administrative Agent or any Obligor Loan Party is required by any Applicable applicable Law other than the Code to withhold or deduct Taxes from any payment, then (iA) the Administrative Agent or such Obligor shall withhold or make such deductions Loan Party, as are determined by Agent or such Obligor to be required based upon the information and documentation it has received pursuant to Section 5.10 below, (ii) Agent or such Obligorapplicable, to the extent required by Applicable applicable Law, shall timely pay the full amount to be withheld or deducted to the relevant Governmental Authority, and (iiiB) to the extent the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Obligor Loan Party shall be increased as necessary so that the Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. 5.9.2.

Appears in 1 contract

Samples: Revolving Credit Agreement (Western Refining, Inc.)

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Payments Free of Taxes; Obligation to Withhold; Tax Payment. (a) All payments of Obligations by Obligors Loan Parties shall be made without deduction or withholding for any Taxes, except as required by Applicable applicable Law. If Applicable applicable Law (as determined by the Administrative Agent in its discretion) requires the deduction or withholding of any Tax from any such payment by the Administrative Agent or an Obligora Loan Party, then the Administrative Agent or such Obligor Loan Party shall be entitled to make such deduction or withholding based on information and documentation provided pursuant to Section 5.10β€Ž3.01(f). (b) If the Administrative Agent or any Obligor Loan Party is required by the Code to withhold or deduct Taxes, including backup withholding and withholding taxes, from any payment, then (i) the Administrative Agent shall withhold or make such deductions Loan Party, as are determined by Agent to be required based upon the information and documentation it has received pursuant to Section 5.10 belowapplicable, (ii) Agent shall pay the full amount that it determines is to be withheld or deducted to the relevant Governmental Authority pursuant to the Code, and (iiiii) to the extent the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Obligor Loan Party shall be increased as necessary so that the Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. (c) If the Administrative Agent or any Obligor Loan Party is required by any Applicable applicable Law other than the Code to withhold or deduct Taxes from any payment, then (iA) the Administrative Agent or such Obligor shall withhold or make such deductions Loan Party, as are determined by Agent or such Obligor to be required based upon the information and documentation it has received pursuant to Section 5.10 below, (ii) Agent or such Obligorapplicable, to the extent required by Applicable applicable Law, shall timely pay the full amount to be withheld or deducted to the relevant Governmental Authority, and (iiiB) to the extent the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Obligor Loan Party shall be increased as necessary so that the Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. 5.9.2.

Appears in 1 contract

Samples: Revolving Credit Agreement (Western Refining, Inc.)

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