Common use of Payments of Additional Amounts Clause in Contracts

Payments of Additional Amounts. All payments by the Company in respect of the 7-Year Fixed Rate Notes will be made free and clear of and without deduction or withholding for or on account of any present or future taxes, duties, levies, imposts, assessments or other charges (including penalties, interest and other additions thereto) that are imposed by or on behalf of any political subdivision or territory or possession of Argentina or any authority or agency therein or thereof having power to tax (“Taxes”) unless such withholding or deduction is required by law. If the Company is required by law to make any such withholding or deduction, the Company will pay to any Holder such additional amounts (“Additional Amounts”) as may be necessary in order that every net payment made by the Company on the Holder’s 7-Year Note after deduction or withholding for or on account of any such present or future Taxes will not be less than the amount then due and payable on such 7-Year Note. The foregoing obligation to pay Additional Amounts, however, will not apply to (i) any Taxes that would not have been imposed but for the existence of any present or former connection between such Holder and Argentina other than the mere receipt of such payment or the ownership or holding of such 7-Year Note; (ii) any Taxes that would not have been imposed but for the presentation by the Holder of such 7-Year Note for payment on a date more than 15 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later; (iii) if the beneficial owner of such 7-Year Note had been the Holder of the 7-Year Note and would not be entitled to the payment of Additional Amounts; (iv) any Taxes required to be deducted or withheld by any paying agent from a payment on a 7-Year Note, if such payment can be made without such deduction or withholding by any other paying agent; or (v) any Taxes that would not have been imposed but for the failure of the Holder to comply with any applicable certification, documentation, information or other reporting requirement concerning the nationality, residence, identity or connection with the taxing jurisdiction of the Holder or beneficial owner of such 7-Year Note. Any reference herein to principal and/or interest shall be deemed also to refer to any Additional Amounts which may be payable under the undertakings described in this paragraph, and express reference to the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express reference is not made. In addition, the Company agrees to pay any stamp, issue, registration, documentary or other similar taxes and duties, including interest and penalties that may be imposed by Argentina or the United States in connection with the creation, issue and offering of this 7-Year Note.

Payments of Additional Amounts. All payments by the Company in respect of the 7Step-Year Fixed Rate Up Notes will be made free and clear of and without deduction or withholding for or on account of any present or future taxes, duties, levies, imposts, assessments or other charges (including penalties, interest and other additions thereto) that are imposed by or on behalf of any political subdivision or territory or possession of Argentina or any authority or agency therein or thereof having power to tax (“Taxes”) unless such withholding or deduction is required by law. If the Company is required by law to make any such withholding or deduction, the Company will pay to any Holder such additional amounts (“Additional Amounts”) as may be necessary in order that every net payment made by the Company on the Holder’s 7Step-Year Up Note after deduction or withholding for or on account of any such present or future Taxes will not be less than the amount then due and payable on such 7Step-Year Up Note. The foregoing obligation to pay Additional Amounts, however, will not apply to (i) any Taxes that would not have been imposed but for the existence of any present or former connection between such Holder and Argentina other than the mere receipt of such payment or the ownership or holding of such 7Step-Year Up Note; (ii) any Taxes that would not have been imposed but for the presentation by the Holder of such 7Step-Year Up Note for payment on a date more than 15 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later; (iii) if the beneficial owner of such 7Step-Year Up Note had been the Holder of the 7Step-Year Up Note and would not be entitled to the payment of Additional Amounts; (iv) any Taxes required to be deducted or withheld by any paying agent from a payment on a 7Step-Year Up Note, if such payment can be made without such deduction or withholding by any other paying agent; or (v) any Taxes that would not have been imposed but for the failure of the Holder to comply with any applicable certification, documentation, information or other reporting requirement concerning the nationality, residence, identity or connection with the taxing jurisdiction of the Holder or beneficial owner of such 7Step-Year Up Note. Any reference herein to principal and/or interest shall be deemed also to refer to any Additional Amounts which may be payable under the undertakings described in this paragraph, and express reference to the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express reference is not made. In addition, the Company agrees to pay any stamp, issue, registration, documentary or other similar taxes and duties, including interest and penalties that may be imposed by Argentina or the United States in connection with the creation, issue and offering of this 7Step-Year Up Note.

Payments of Additional Amounts. All payments made by the Company in under or with respect of to the 7-Year Fixed Rate Notes will be made free and clear of and without withholding or deduction or withholding for or on account of any present or future taxes, duties, levies, imposts, assessments Taxes imposed or other charges (including penalties, interest and other additions thereto) that are imposed levied by or on behalf of any Taxing Authority within Argentina or any political subdivision or territory or possession of Argentina taxing authority thereof, or any authority present or agency therein future Taxes imposed or thereof having power to levied within any other jurisdiction in which the Company is organized or engaged in business for tax (“Taxes”) purposes or within any other jurisdiction from or through which any payment is made by the Company or its agents, unless such withholding or deduction the Company is required to withhold or deduct Taxes by lawlaw or by the official interpretation or application thereof. If the Company is required to withhold or deduct any amount for or on account of Taxes imposed by law to make a Taxing Authority within Argentina, or within any other jurisdiction in which the Company is organized or engaged in business for tax purposes or such withholding or deductiondeduction occurs as a result of the Company’s requirement to pay tax to a Taxing Authority within Argentina as a substitute obligor in respect of the Notes, in accordance with Argentine Law No. 23,966, as amended, and regulations thereunder, from any payment made under or with respect to the Notes, the Company will pay to any Holder such additional amounts as may be necessary (“Additional Amounts”) as may be necessary in order so that every the net payment made amount received by the Company on the Holder’s 7-Year Note each Holder of Notes (including such Additional Amounts) after such withholding or deduction or withholding for or on account of any such present or future Taxes will not be less than the amount then due and the Holder or beneficial owner would have received if such Taxes had not been withheld or deducted; provided, that no Additional Amounts will be payable on such 7-Year Note. The foregoing obligation with respect to pay Additional Amounts, however, will not apply a payment made to a Holder of this Note (ian “Excluded Holder”) with respect to any Taxes that which would not have been imposed imposed, payable or due: (i) but for the existence of any present or former connection between the Holder (or the beneficial owner of, or person ultimately entitled to obtain an interest in, such Holder Note) and Argentina the taxing jurisdiction other than the mere holding of, or the receipt of such payment or the ownership or holding of such 7-Year payments under, this Note; (ii) any Taxes that would not have been imposed but for the presentation by the Holder of such 7-Year Note for payment on a date more than 15 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later; (iii) if the beneficial owner of such 7-Year Note had been the Holder of the 7-Year Note and would not be entitled to the payment of Additional Amounts; (iv) any Taxes required to be deducted or withheld by any paying agent from a payment on a 7-Year Note, if such payment can be made without such deduction or withholding by any other paying agent; or (viii) where any Taxes that such taxes, duties, assessments or governmental charges would not have been imposed but for the failure of the Holder of such Note to comply with any applicable certification, documentationidentification, information information, documentation or other reporting requirement requirements concerning the nationality, residence, identity residence or connection with the taxing jurisdiction Argentina of the Holder or beneficial owner of such 7Note, if (x) such compliance is required by applicable law, regulation or administrative practice or any applicable treaty of the taxing jurisdiction as a precondition to exemption from, or reduction in the rate of, deduction or withholding of, such taxes, duties, assessments or governmental charges, (y) at least thirty (30) days prior to the first payment date with respect to which such requirements under Argentine law, regulation, or administrative practice or any applicable treaty shall apply, the Company shall have notified all Holders that such Holders will be required to comply with such requirements, and (z) in the case of such requirements under Argentine law, regulation or administrative practice or any such applicable treaty, such requirements are not materially more onerous to such Holders of Notes (in form, in procedure or in the substance of information disclosed) than comparable information or other reporting requirements imposed under U.S. tax law, regulation (including proposed regulations) and administrative practice (such as IRS Forms 1001, W-8 and W-9 or any comparable successor forms). The Company will also (i) make such withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will make reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld from each Taxing Authority imposing such Taxes. The Company will furnish to the Holder of this Note, within sixty (60) days after the date the payment of any Taxes so deducted or withheld is due pursuant to applicable law, either certified copies of tax receipts evidencing such payment by the Company or, if such receipts are not obtainable, other evidence of such payments by the Company. At least thirty (30) days prior to each date on which any payment under or with respect to this Note is due and payable, if the Company will be obligated to pay Additional Amounts with respect to such payment, the Company will deliver to the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable and the amounts so payable and will set forth such other information necessary to enable the Trustee to pay such Additional Amounts to the Holders of Notes on the payment date. In addition, the Company shall reimburse any non-Year Argentine domiciled Holder of this Note or any interest herein or rights in respect hereof who has paid Taxes to a Taxing Authority in Argentina in respect of its holding of Notes including taxes levied in accordance with Argentine Law No. 23,966, as amended, and regulations thereunder for any tax so paid (but only to the extent that the Company is not required to pay Additional Amounts in respect of such tax as provided above) within 30 days of written evidence of such payment, including the amount paid, being provided to the Company. In addition, the Company agrees to pay any stamp, issue, registration, documentary, value added or other similar taxes and duties, including interest and penalties, payable in Argentina or the United States, any jurisdiction out of which payment is made or any other jurisdiction in which the Company is organized or engaged in business, or any political subdivision thereof or taxing authority of or in the foregoing in respect of the creation, issue and offering of this Note. The Company also agrees to indemnify each Holder of this Note from and against all court taxes or other taxes and duties, including interest and penalties, imposed on or paid by such Holder in any jurisdiction in connection with any action permitted to be taken by such Holder to enforce the obligations of the Company under this Note. Furthermore, the Company waives its right to reimbursement in accordance with Argentine Law No. 23,966, as amended, and regulations thereunder, from any Holder of any amount required to be paid by the Company to a Taxing Authority in Argentina in respect of such Holder’s holding of Notes. Any reference herein to principal and/or interest shall be deemed also to refer to any Additional Amounts or Other Additional Amounts, as applicable, which may be payable under the undertakings described in this paragraph, and express reference to the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts or Other Additional Amounts, as applicable, in those provisions hereof where such express reference is not made. In additionNotwithstanding the foregoing, the Company agrees obligation to pay Additional Amounts to any stamp, issue, registration, documentary or other similar taxes and duties, including interest and penalties that may be imposed by Argentina or Holder of the United States in connection with the creation, issue and offering of this 7-Year NoteFloating Rate Notes will be subject to a maximum level not to exceed the amount required to gross-up payments for withholdings on interest payments to a bank domiciled in a jurisdiction that (i) is not deemed to be of low or zero taxation pursuant to Decree No. 916/2004, or (ii) has entered into an exchange of information agreement with Argentina and that is not limited by banking or other secrecy rules in respect of requests made by the tax authority of such jurisdiction.

Payments of Additional Amounts. All payments by the Company in respect of the 7-Year Fixed Rate Notes Debt Securities will be made free and clear of and without deduction or withholding for or on account of any present or future taxes, duties, levies, imposts, assessments or other charges (including penalties, interest and other additions thereto) that are imposed by or on behalf of any political subdivision or territory or possession of Argentina or any authority or agency therein or thereof having power to tax (“Taxes”) unless such withholding or deduction is required by law. If the Company is required by law to make any such withholding or deduction, the Company will pay to any Holder such additional amounts (“Additional Amounts”) as may be necessary in order that every net payment made by the Company on the Holder’s 7-Year Note Debt Security after deduction or withholding for or on account of any such present or future Taxes will not be less than the amount then due and payable on such 7-Year NoteDebt Security. The foregoing obligation to pay Additional Amounts, however, will not apply to (i) any Taxes that would not have been imposed but for the existence of any present or former connection between such Holder and Argentina other than the mere receipt of such payment or the ownership or holding of such 7-Year NoteDebt Security; (ii) any Taxes that would not have been imposed but for the presentation by the Holder of such 7-Year Note Debt Security for payment on a date more than 15 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later; (iii) if the beneficial owner of such 7-Year Note Debt Security had been the Holder of the 7-Year Note Debt Security and would not be entitled to the payment of Additional Amounts; (iv) any Taxes required to be deducted or withheld by any paying agent from a payment on a 7-Year NoteDebt Security, if such payment can be made without such deduction or withholding by any other paying agent; or (v) any Taxes that would not have been imposed but for the failure of the Holder to comply with any applicable certification, documentation, information or other reporting requirement concerning the nationality, residence, identity or connection with the taxing jurisdiction of the Holder or beneficial owner of such 7-Year NoteDebt Security. Any reference herein to principal and/or interest shall be deemed also to refer to any Additional Amounts which may be payable under the undertakings described in this paragraph, and express reference to the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express reference is not made. In addition, the Company agrees to pay any stamp, issue, registration, documentary or other similar taxes and duties, including interest and penalties that may be imposed by Argentina or the United States in connection with the creation, issue and offering of this 7-Year NoteDebt Security.

Payments of Additional Amounts. All payments made by the Company in under or with respect of to the 7-Year Fixed Rate Notes will be made free and clear of and without withholding or deduction or withholding for or on account of any present or future taxes, duties, levies, imposts, assessments Taxes imposed or other charges (including penalties, interest and other additions thereto) that are imposed levied by or on behalf of any Taxing Authority within Argentina or any political subdivision or territory or possession of Argentina taxing authority thereof, or any authority present or agency therein future Taxes imposed or thereof having power to levied within any other jurisdiction in which the Company is organized or engaged in business for tax (“Taxes”) purposes or within any other jurisdiction from or through which any payment is made by the Company or its agents, unless such withholding or deduction the Company is required to withhold or deduct Taxes by lawlaw or by the official interpretation or application thereof. If the Company is required to withhold or deduct any amount for or on account of Taxes imposed by law to make a Taxing Authority within Argentina, or within any other jurisdiction in which the Company is organized or engaged in business for tax purposes or such withholding or deductiondeduction occurs as a result of the Company's requirement to pay tax to a Taxing Authority within Argentina as a substitute obligor in respect of the Notes, in accordance with Argentine Law No. 23,966, as amended, and regulations thereunder, from any payment made under or with respect to the Notes, the Company will pay to any Holder such additional amounts (“Additional Amounts”) as may be necessary in order ("Additional Amounts") so that every the net payment made amount received by the Company on the Holder’s 7-Year Note each Holder of Notes (including such Additional Amounts) after such withholding or deduction or withholding for or on account of any such present or future Taxes will not be less than the amount then due and the Holder or beneficial owner would have received if such Taxes had not been withheld or deducted; provided, that no Additional Amounts will be payable on such 7-Year Note. The foregoing obligation with respect to pay Additional Amounts, however, will not apply a payment made to a Holder of this Note (ian "Excluded Holder") with respect to any Taxes that which would not have been imposed imposed, payable or due: (i) but for the existence of any present or former connection between the Holder (or the beneficial owner of, or person ultimately entitled to obtain an interest in, such Holder Note) and Argentina the taxing jurisdiction other than the mere holding of, or the receipt of such payment or the ownership or holding of such 7-Year payments under, this Note; (ii) any Taxes that would not have been imposed but for the presentation by the Holder of such 7-Year Note for payment on a date more than 15 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later; (iii) if the beneficial owner of such 7-Year Note had been the Holder of the 7-Year Note and would not be entitled to the payment of Additional Amounts; (iv) any Taxes required to be deducted or withheld by any paying agent from a payment on a 7-Year Note, if such payment can be made without such deduction or withholding by any other paying agent; or (viii) where any Taxes that such taxes, duties, assessments or governmental charges would not have been imposed but for the failure of the Holder of such Note to comply with any applicable certification, documentationidentification, information information, documentation or other reporting requirement requirements concerning the nationality, residence, identity residence or connection with the taxing jurisdiction Argentina of the Holder or beneficial owner of such 7Note, if (x) such compliance is required by applicable Argentine law, regulation or administrative practice or any applicable treaty as a precondition to exemption from, or reduction in the rate of, deduction or withholding of, such taxes, duties, assessments or governmental charges, (y) at least thirty (30) days prior to the first payment date with respect to which such requirements under Argentine law, regulation, or administrative practice or any applicable treaty shall apply, the Company shall have notified all Holders that such Holders will be required to comply with such requirements, and (z) in the case of such requirements under Argentine law, regulation or administrative practice or any such applicable treaty, such requirements are not materially more onerous to such Holders of Notes (in form, in procedure or in the substance of information disclosed) than comparable information or other reporting requirements imposed under U.S. tax law, regulation (including proposed regulations) and administrative practice (such as IRS Forms 1001, W-8 and W-9 or any comparable successor forms). The Company will also (i) make such withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will make reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld from each Taxing Authority imposing such Taxes. The Company will furnish to the Holder of this Note, within sixty (60) days after the date the payment of any Taxes so deducted or withheld is due pursuant to applicable law, either certified copies of tax receipts evidencing such payment by the Company or, if such receipts are not obtainable, other evidence of such payments by the Company. At least thirty (30) days prior to each date on which any payment under or with respect to this Note is due and payable, if the Company will be obligated to pay Additional Amounts with respect to such payment, the Company will deliver to the Trustee an Officers' Certificate stating the fact that such Additional Amounts will be payable and the amounts so payable and will set forth such other information necessary to enable the Trustee to pay such Additional Amounts to the Holders of Notes on the payment date. In addition, the Company shall reimburse any non-Year Argentine domiciled Holder of this Note or any interest herein or rights in respect hereof who has paid Taxes to a Taxing Authority in Argentina in respect of its holding of Notes including taxes levied in accordance with Argentine Law No. 23,966, as amended, and regulations thereunder for any tax so paid (but only to the extent that the Company is not required to pay Additional Amounts in respect of such tax as provided above) within 30 days of written evidence of such payment, including the amount paid, being provided to the Company. In addition, the Company agrees to pay any stamp, issue, registration, documentary, value added or other similar taxes and duties, including interest and penalties, payable in Argentina or the United States, any jurisdiction out of which payment is made or any other jurisdiction in which the Company is organized or engaged in business, or any political subdivision thereof or taxing authority of or in the foregoing in respect of the creation, issue and offering of this Note. The Company also agrees to indemnify each Holder of this Note from and against all court taxes or other taxes and duties, including interest and penalties, imposed on or paid by such Holder in any jurisdiction in connection with any action permitted to be taken by such Holder to enforce the obligations of the Company under this Note. Furthermore, the Company waives its right to reimbursement in accordance with Argentine Law No. 23,966, as amended, and regulations thereunder, from any Holder of any amount required to be paid by the Company to a Taxing Authority in Argentina in respect of such Holder's holding of Notes. Any reference herein to principal and/or interest shall be deemed also to refer to any Additional Amounts or Other Additional Amounts, as applicable, which may be payable under the undertakings described in this paragraph, and express reference to the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts or Other Additional Amounts, as applicable, in those provisions hereof where such express reference is not made. In additionNotwithstanding the foregoing, the Company agrees obligation to pay Additional Amounts to any stamp, issue, registration, documentary or other similar taxes and duties, including interest and penalties that may be imposed by Argentina or Holder of the United States in connection with the creation, issue and offering of this 7-Year Note.Floating Rate Notes will be subject to a maximum level not to exceed the amount required to gross-up payments for withholdings on interest payments to a Basle bank. A Basle bank means a bank (i) in a jurisdiction the central bank of which has adopted the international standards of banking supervision of the Basle Committee and is therefore a listed jurisdiction under Section 155.1 of Argentine Decree 1344, as amended, and (ii) that is legally capable of receiving deposits from or granting loans to residents of the jurisdiction in which it is organized. Other Additional Amounts ------------------------