Common use of REQUEST FOR REFUND Clause in Contracts

REQUEST FOR REFUND. At the reasonable request of the Borrower, a Lender or the Agent shall apply at the Borrower's expense for a refund in respect of Taxes or Other Taxes previously paid by the Borrower pursuant to this Section 13.3 if in the opinion of such Lender or the Agent there is a reasonable basis for such refund. Notwithstanding the foregoing, none of the Lenders or the Agent shall be obligated to pursue such refund if, in its sole good faith judgment, such action would be disadvantageous to it. If any Lender subsequently receives from a taxing authority a refund of any Tax previously paid by the Borrower and for which the Borrower has indemnified the Lender pursuant to this Section 13.3, such Lender shall within thirty (30) days after receipt of such refund, and to the extent permitted by applicable law, pay to the Borrower the net amount of any such recovery after deducting taxes and expenses attributable thereto.

Appears in 2 contracts

Samples: Credit and Security Agreement (Diy Home Warehouse Inc), Asset Based Loan and Security Agreement (Mazel Stores Inc)

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REQUEST FOR REFUND. At the reasonable request of the Borrower, a Lender Bank or the Agent shall apply at the Borrower's expense for a refund in respect of Taxes or Other Taxes previously paid by the Borrower pursuant to this Section 13.3 if in the opinion of such Lender Bank or the Agent there is a reasonable basis for such refund. Notwithstanding the foregoing, none of the Lenders Banks or the Agent shall be obligated to pursue such refund if, in its sole good faith judgment, such action would be disadvantageous to it. If any Lender Bank subsequently receives from a taxing authority a refund of any Tax previously paid by the Borrower and for which the Borrower has indemnified the Lender Bank pursuant to this Section 13.3, such Lender Bank shall within thirty (30) days after receipt of such refund, and to the extent permitted by applicable law, pay to the Borrower the net amount of any such recovery after deducting taxes and expenses attributable thereto.

Appears in 1 contract

Samples: Credit and Security Agreement (Curtis Sub Inc)

REQUEST FOR REFUND. At the reasonable request of the BorrowerBorrowers, a Lender Bank or the Agent shall apply at the Borrower's expense for a refund in respect of Taxes or Other Taxes previously paid by the Borrower Borrowers pursuant to this Section 13.3 3.9 if in the opinion of such Lender Bank or the Agent there is a reasonable basis for such refund. Notwithstanding the foregoing, none of the Lenders Banks or the Agent shall be obligated to pursue such refund if, in its sole good faith judgment, such action would be disadvantageous to it. If any Lender Bank subsequently receives from a taxing authority a refund of any Tax previously paid by the Borrower Borrowers and for which the Borrower has Borrowers have indemnified the Lender Bank pursuant to this Section 13.33.9, such Lender Bank shall within thirty (30) days after receipt of such refund, and to the extent permitted by applicable lawLaw, pay to the Borrower Borrowers the net amount of any such recovery after deducting taxes and reasonable expenses attributable thereto.

Appears in 1 contract

Samples: Assignment Agreement (Shiloh Industries Inc)

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REQUEST FOR REFUND. At the reasonable request of the Borrower, a Lender Bank or the Agent shall apply at the Borrower's expense for a refund in respect of Taxes or Other Taxes previously paid by the Borrower pursuant to this Section 13.3 3.9 if in the opinion of such Lender Bank or the Agent there is a reasonable basis for such refund. Notwithstanding the foregoing, none of the Lenders Banks or the Agent shall be obligated to pursue such refund if, in its sole good faith judgment, such action would be disadvantageous to it. If any Lender Bank subsequently receives from a taxing authority a refund of any Tax previously paid by the Borrower and for which the Borrower has indemnified the Lender Bank pursuant to this Section 13.33.9, such Lender Bank shall within thirty (30) days after receipt of such refund, and to the extent permitted by applicable lawLaw, pay to the Borrower the net amount of any such recovery after deducting taxes and reasonable expenses attributable thereto.

Appears in 1 contract

Samples: Credit Agreement (Shiloh Industries Inc)

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