Common use of Payments Free of Withholding Clause in Contracts

Payments Free of Withholding. Except as otherwise required by law and subject to Section 3.1(b), each payment by Borrower and the Guarantors under this Agreement or the other Loan Documents shall be made without withholding for or on account of any present or future taxes (other than overall net income taxes on the recipient) imposed by or within the jurisdiction in which Borrower or such Guarantor is domiciled, any jurisdiction from which Borrower or such Guarantor makes any payment, or (in each case) any political subdivision or taxing authority thereof or therein. If any such withholding is so required, Borrower or such Guarantor shall make the withholding, pay the amount withheld to the appropriate Governmental Authority before penalties attach thereto or interest accrues thereon, and forthwith pay such additional amount as may be necessary to ensure that the net amount actually received by each Lender, the L/C Issuer, and Administrative Agent free and clear of such taxes (including such taxes on such additional amount) is equal to the amount which that Lender, L/C Issuer, or Administrative Agent (as the case may be) would have received had such withholding not been made. If Administrative Agent, the L/C Issuer, or any Lender pays any amount in respect of any such taxes, penalties or interest,

Appears in 3 contracts

Samples: Credit Agreement (Sterling Infrastructure, Inc.), Credit Agreement (Sterling Construction Co Inc), Credit Agreement (Sterling Infrastructure, Inc.)

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Payments Free of Withholding. Except as otherwise required by law and subject to Section 3.1(b)11.1(b) hereof, each payment by Borrower and the Guarantors Company under this Agreement or the and under any other Loan Documents Document shall be made without withholding for or on account of any present or future taxes (other than overall net income taxes on the recipient) imposed by or within the jurisdiction in which Borrower or such Guarantor the Company is domiciled, any jurisdiction from which Borrower or such Guarantor the Company makes any payment, or (in each case) any political subdivision or taxing authority thereof or therein. If any such withholding is so required, Borrower or such Guarantor the Company shall make the withholding, pay the amount withheld to the appropriate Governmental Authority governmental authority before penalties attach thereto or interest accrues thereon, thereon and forthwith pay such additional amount as may be necessary to ensure that the net amount actually received by each Lender, Lender and the L/C Issuer, and Administrative Agent free and clear of such taxes (including such taxes on such additional amount) is equal to the amount which that Lender, L/C Issuer, Lender or Administrative the Agent (as the case may be) would have received had such withholding not been made. If Administrative Agent, the L/C Issuer, Agent or any Lender pays any amount in respect of any such taxes, penalties or interest,, the Company shall reimburse the Agent or such Lender for that payment on demand in the currency in which such payment was made. If the Company pays any such taxes, penalties or interest, it shall deliver official tax receipts evidencing that payment or certified copies thereof to the Lender or Agent on whose account such withholding was made (with a copy to the Agent if not the recipient of the original) on or before the thirtieth day after payment.

Appears in 2 contracts

Samples: Credit Agreement (Rentx Industries Inc), Multicurrency Credit Agreement (Anicom Inc)

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Payments Free of Withholding. Except as otherwise required by law and subject to Section 3.1(b)11.1(b) hereof, each payment by Borrower and the Guarantors Company under this Agreement or the other Loan Documents shall be made without withholding for or on account of any present or future taxes (other than overall net income taxes on the recipient) imposed by or within the jurisdiction in which Borrower or such Guarantor the Company is domiciled, any jurisdiction from which Borrower or such Guarantor the Company makes any payment, or (in each case) any political subdivision or taxing authority thereof or therein. If any such withholding is so required, Borrower or such Guarantor the Company shall make the withholding, pay the amount withheld to the appropriate Governmental Authority governmental authority before penalties attach thereto or interest accrues thereon, thereon and forthwith pay such additional amount as may be necessary to ensure that the net amount actually received by each Lender, Lender and the L/C Issuer, and Administrative Agent free and clear of such taxes (including such taxes on such additional amount) is equal to the amount which that Lender, L/C Issuer, Lender or Administrative the Agent (as the case may be) would have received had such withholding not been made. If Administrative Agent, the L/C Issuer, Agent or any Lender pays any amount in respect of any such taxes, penalties or interest the Company shall reimburse the Agent or that Lender for that payment on demand in the currency in which such payment was made. If the Company pays any such taxes, penalties or interest,, it shall deliver official tax receipts evidencing that payment or certified copies thereof to the Lender or Agent on whose account such withholding was made (with a copy to the Agent if not the recipient of the original) on or before the thirtieth day after payment.

Appears in 2 contracts

Samples: Credit Agreement (Home Dialysis of Columbus Inc), Credit Agreement (Everest One Ipa Inc)

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