Common use of Withholding of Taxes; Gross-Up Clause in Contracts

Withholding of Taxes; Gross-Up. Each payment by a Loan Party under this Agreement or any other Loan Document, whether to the Administrative Agent, any Lender or Issuing Bank or any other Person to which any such payment is owed (each of the foregoing being referred to as a “Recipient”), shall be made without withholding for any Taxes, unless such withholding is required by any law. If any Withholding Agent determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such Withholding Agent may so withhold and shall timely pay the full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable law. If such Taxes are Indemnified Taxes, then the amount payable by such Loan Party shall be increased as necessary so that, net of such withholding (including such withholding applicable to additional amounts payable under this Section), the applicable Recipient receives the amount it would have received had no such withholding been made.

Appears in 6 contracts

Samples: Agreement (Netscout Systems Inc), Credit Agreement (NCR Corp), Credit Agreement (Netscout Systems Inc)

AutoNDA by SimpleDocs

Withholding of Taxes; Gross-Up. Each payment by a any Loan Party under this Agreement or any other Loan Document, whether to the Administrative Agent, any Lender or Issuing Bank or any other Person to which any such payment is owed (each of the foregoing being referred to as a “Recipient”), Document shall be made without withholding for any Taxes, unless such withholding is required by any lawlaw or applicable practice of any Taxing Authority. If any Withholding Agent applicable withholding agent determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such Withholding Agent withholding agent may so withhold and shall timely pay the full amount of withheld Taxes to the relevant Governmental Taxing Authority in accordance with applicable law. If any such Taxes are Indemnified Taxes, then the amount payable by such the applicable Loan Party shall be increased as necessary so that, net of such withholding (including any such withholding applicable to additional amounts payable under this SectionSection 2.17), the applicable Recipient Lender (or, in the case of a payment received by an Applicable Administrative Agent for its own account, the Applicable Administrative Agent) receives the amount it would have received had no such withholding been made.

Appears in 5 contracts

Samples: Credit Agreement (Levi Strauss & Co), Joinder Agreement (Levi Strauss & Co), Joinder Agreement (Levi Strauss & Co)

Withholding of Taxes; Gross-Up. Each payment by a Loan Party under this Agreement or any other Loan Document, whether to the Administrative Agent, any Lender or Issuing Bank or any other Person to which any such payment obligation is owed (each of the foregoing being referred to as a “Recipient”), shall be made without withholding for any Taxes, unless such withholding is required by any lawLaw. If any Withholding Agent determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such Withholding Agent may so withhold and shall timely pay the full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable lawLaw. If such Taxes are Indemnified Taxes, then the amount payable by such Loan Party shall be increased as necessary so that, that net of such withholding (including such withholding applicable to additional amounts payable under this Section), the applicable Recipient receives the amount it would have received had no such withholding been made.

Appears in 3 contracts

Samples: Credit Agreement (Bentley Systems Inc), Credit Agreement (Bentley Systems Inc), Credit Agreement (Bentley Systems Inc)

Withholding of Taxes; Gross-Up. Each payment by or on behalf of a Loan Party under this Agreement or any other Loan Document, whether to the Administrative Agent, any Lender or Issuing Bank or any other Person to which any such payment is owed (each of the foregoing being referred to as a “Recipient”), Document shall be made without withholding for any Taxes, unless such withholding is required by any lawapplicable Requirements of Law. If any Withholding Agent determines, in its sole discretion exercised in good faith, that it is so required to withhold any Taxes, then such Withholding Agent may so withhold and shall timely pay the full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable lawRequirements of Law. If such Taxes are Indemnified Taxes, then the amount payable by such Loan Party shall be increased as necessary so that, that net of such withholding (including such withholding applicable to additional amounts payable under this SectionSection 2.17), the applicable Recipient Lender (or in the case of a payment made to the Administrative Agent for its own account, the Administrative Agent) receives the amount it would have received had no such withholding been made.

Appears in 3 contracts

Samples: Incremental Facility Agreement (Ingevity Corp), Credit Agreement (Ingevity Corp), Credit Agreement (Ingevity Corp)

Withholding of Taxes; Gross-Up. (a) (i) Each payment to or for the benefit of a Recipient by a Loan Party Borrower Group Company under this Agreement or under any other Loan Document, whether to the Administrative Agent, any Lender or Issuing Bank or any other Person to which any such payment is owed (each of the foregoing being referred to as a “Recipient”), Financing Document shall be made without withholding for any Taxes, unless such withholding is required by any lawApplicable Law. If any the Withholding Agent determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such the Withholding Agent may shall so withhold (or cause to be withheld) and shall timely pay (or cause to be timely paid) the full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable lawApplicable Law. If such Taxes are Indemnified Taxes, then the amount payable by such Loan Party the Borrower Group Company shall be increased as necessary so that, net of such withholding (including such withholding applicable to additional amounts payable under this SectionSection 2.05), the applicable Recipient receives the amount it would have received had no such withholding been made.

Appears in 2 contracts

Samples: Facility Agreement (Fly Leasing LTD), Facility Agreement (Fly Leasing LTD)

AutoNDA by SimpleDocs

Withholding of Taxes; Gross-Up. Each payment by a Loan Party under this Agreement or any other Loan Document, whether to the Administrative Agent, any Lender or Issuing Bank L/C Issuer or any other Person to which any such payment is owed (each of the foregoing being referred to as a “Recipient”), shall be made without deduction or withholding for any Taxes, unless such withholding is required by any applicable law. If any Withholding Agent determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such Withholding Agent may so withhold and shall timely pay the full amount of deducted or withheld Taxes to the relevant Governmental Authority in accordance with applicable law. If such Taxes are Indemnified Taxes, then the amount payable by such Loan Party shall be increased as necessary so that, net of such withholding (including such withholding applicable to additional amounts payable under this Section), the applicable Recipient receives the amount it would have received had no such withholding been made.

Appears in 2 contracts

Samples: Credit Agreement (NCR Corp), Credit Agreement (NCR Atleos, LLC)

Withholding of Taxes; Gross-Up. Each payment by a any Loan Party under this Agreement or any other Loan Document, whether to the Administrative Agent, any Lender or Issuing Bank or any other Person to which any such payment is owed (each of the foregoing being referred to as a “Recipient”), Document shall be made without withholding for any Taxes, unless such withholding is required by any lawlaw or applicable practice of any Taxing Authority. If any Withholding Agent applicable withholding agent determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such Withholding Agent withholding agent may so withhold and shall timely pay the full amount of withheld Taxes to the relevant Governmental Taxing Authority in accordance with applicable law. If any such Taxes are Indemnified Taxes, then the amount payable by such the applicable Loan Party shall be increased as necessary so that, net of such withholding (including any such withholding applicable to additional amounts payable under this SectionSection 2.17), the Applicable Administrative Agent or applicable Recipient Lender (or, in the case of a payment secured by an Applicable Administrative Agent for its own account, the Applicable Administrative Agent) receives the amount it would have received had no such withholding been made.

Appears in 2 contracts

Samples: Credit Agreement (Levi Strauss & Co), Credit Agreement (Levi Strauss & Co)

Withholding of Taxes; Gross-Up. Each payment by a Loan Party under this Agreement or any other Loan Document, whether to the Administrative Agent, any Lender or Issuing Bank or any other Person to which any such payment obligation is owed (each of the foregoing being referred to as a “Recipient”), shall be made without withholding for any Taxes, unless such withholding is required by any lawLaw. If any Withholding Agent determines, in ​ ​ ​ its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such Withholding Agent may so withhold and shall timely pay the full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable lawLaw. If such Taxes are Indemnified Taxes, then the amount payable by such Loan Party shall be increased as necessary so that, that net of such withholding (including such withholding applicable to additional amounts payable under this Section), the applicable Recipient receives the amount it would have received had no such withholding been made.

Appears in 1 contract

Samples: Credit Agreement (Bentley Systems Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.