Qualifying UK Lender definition

Qualifying UK Lender means in relation to a payment of interest on a participation in an Advance to a UK Borrower, a Lender which is:

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Qualifying UK Lender has the meaning given to that term in Clause 16 (Tax gross-up and indemnities).

Examples of Qualifying UK Lender in a sentence

Under the laws of its Relevant Tax Jurisdiction in force as at the Original Execution Date, it will not be required to make any deduction for or withholding on account of tax from any payment it may make under any of the Finance Documents to any Lender which is (a) a Qualifying UK Lender (in the case of any Borrower) or (b) a US Accession Lender (in the case of the US Borrower).
Under the laws of its Relevant Tax Jurisdiction in force as at the Original Execution Date, it will not be required to make any deduction for or withholding on account of tax from any payment it may make under any of the Relevant Finance Documents to any Lender which is a Qualifying UK Lender.
It is not required to make any deduction for or on account of Tax from any payment it may make under any Finance Document to a Qualifying UK Lender (in the case of a payment by an Obligor incorporated in the United Kingdom, other than Eurotunnel Group UK PLC) or a Qualifying French Lender (in the case of a payment by an Obligor incorporated in France or Eurotunnel Group UK PLC) provided that in each case any procedural formalities are completed, in relation to any Treaty Lender.
Each Lender hereby agrees that within 10 Business Days of the Closing Date, it shall complete any procedural formalities necessary for such Lender to become a Qualifying U.K. Lender.

More Definitions of Qualifying UK Lender

Qualifying UK Lender at any time, a bank or other financial institution which is at that time either:

Qualifying UK Lender means a Lender that is beneficially entitled to interest payable to such Lender in respect of a Loan and is (a) a Lender which is a bank (as defined for the purpose of section 879 of the ITA) making a Loan and is within the charge to United Kingdom corporation tax as respects any payments of interest made in respect of such Loan or would be within such charge as respects such payments apart from section 18A of the CTA, (b) a Lender in respect of a Loan made by a Person that was a bank (as defined for the purpose of section 879 of the ITA) at the time that such Loan was made and is within the charge to United Kingdom corporation tax as respects any payments of interest made in respect of such Loan, (c) a Lender that is (i) a company resident in the United Kingdom for United Kingdom tax purposes, (ii) a partnership each member of which is either (A) a company so resident in the United Kingdom or (B) a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA) the whole of any share of interest payable in respect of that Loan that falls to it by reason of Part 17 of the CTA, or (iii) a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of such Loan in computing the chargeable profits (within the meaning of section 19 of the CTA) of that company, or (d) a U.K. Treaty Lender. “Quarterly Compliance Date” means, with respect to any event, (a) if such event occurs during the first three Fiscal Quarters of any Fiscal Year, the later of (i) the date on which the consolidated financial statements of the U.S. Borrower are required to be delivered pursuant to Section 6.1(b) for the Fiscal Quarter in which such event occurs and (ii) sixty (60) days after the date on which such event occurs or (b) if such event occurs during the fourth Fiscal Quarter of any Fiscal Year, the date that is sixty (60) days after the end of such Fiscal Quarter (or, in the case of each of clauses (a) and (b), such later date as the Administrative Agent may reasonably agree to). “Quotation Day” means (a) , with respect to Dollars for any Interest Period, two Business Days prior to the first day of such Interest Period and (b) with respect to Sterling for any Interest Period, the first d...

Qualifying UK Lender means a Lender which is beneficially entitled to interest payable to that Lender in respect of an advance under this Agreement and is: