Common use of Qualifying Banks Clause in Contracts

Qualifying Banks. (a) (i) Subject to paragraph (b) below, if a Bank is not or ceases to be a Qualifying Bank, no Obligor incorporated in the U.K. will be liable to pay to that Bank under Clause 15.1 (Gross-up), any amount in respect of taxes levied or imposed by the U.K. or any taxing authority of or in the U.K. in excess of the amount it would have been obliged to pay if that Bank had been, or had not ceased to be, a Qualifying Bank; or

Qualifying Banks. (a) (i) Subject to paragraph (b) below, if a Bank is not or ceases to be a Qualifying Bank, no Obligor incorporated in the U.K. will be liable to pay to that Bank under Clause 15.1 (Gross-up), 12.1 any amount in respect of taxes levied or imposed by the U.K. or any taxing authority of or in the U.K. in excess of the amount it would have been obliged to pay if that Bank had been, been or had not ceased to be, be a Qualifying Bank; or.

Qualifying Banks. (a) (iA) Subject to paragraph (bB) below, if a Bank is not or ceases to be a Qualifying Bank, Bank no Obligor incorporated in the U.K. will be liable to pay to that Bank under Clause 15.1 11.1 (Gross-up), ) any amount in respect of taxes Taxes levied or imposed by the U.K. or any taxing Taxing authority of or in the U.K. in excess of the amount it would have been obliged to pay if that Bank had been, been or had not ceased to be, be a Qualifying Bank; or.

Qualifying Banks. (a) (i) Subject to paragraph (b) below, if a Bank is not or ceases to be a Qualifying Bank, no Obligor incorporated in the U.K. will be liable to pay to that Bank under Clause 15.1 11.1 (Gross-up), ) any amount in respect of taxes levied or imposed by the U.K. United Kingdom or any taxing authority of or in the U.K. United Kingdom in excess of the amount it would have been obliged to pay if that Bank had been, been or had not ceased to be, be a Qualifying Bank; or.

Qualifying Banks. (a) (i) Subject to paragraph (b) below, if a Bank is not or ceases to be a Qualifying Bank, no Obligor incorporated in the U.K. will be liable to pay to that Bank under Clause 15.1 14.1 (Gross-up), ) any amount in respect of taxes levied or imposed by the U.K. or any taxing authority of or in the U.K. in excess of the amount it would have been obliged to pay if that Bank had been, or had not ceased to be, a Qualifying Bank; or.

Qualifying Banks. (a) (i) Subject to paragraph (b) below, if a Bank is not or ceases to be a Qualifying Bank, Bank no Obligor incorporated in the U.K. Borrower will be liable to pay to that Bank under Clause 15.1 13.1 (Gross-up), any amount in respect of taxes levied or imposed by the U.K. or any taxing authority of or in the U.K. in excess of the amount it would have been obliged to pay if that Bank had been, or had not ceased to be, a Qualifying Bank; or.