Common use of Adverse Tax Position Clause in Contracts

Adverse Tax Position. (i) An “Excess Tax” shall be the excess of (x) the Tax imposed, levied, collected, withheld or assessed by any Governmental Authority (other than the United States or any State thereof) from which a payment is made by or on behalf of a Loan Party subject to an Adverse Tax Position or in which such Loan Party or an affiliate has an office or is deemed to be doing business, over (y) the Tax which would be imposed, levied, collected, withheld or assessed by such Governmental Authority, but for the existence of such Adverse Tax Position.

Adverse Tax Position. (i) An “"Excess Tax” " shall be the excess of (x) the Tax imposed, levied, collected, withheld or assessed by any Governmental Authority (other than without the United States or any State thereof) from which a payment is made by or on behalf of a Loan Credit Party subject to an Adverse Tax Position or in which such Loan Credit Party or an affiliate has an office or is deemed to be doing business, over (y) the Tax which would be imposed, levied, collected, withheld or assessed by such Governmental Authority, but for the existence of such Adverse Tax Position.