Clause Information
Tax Matters. (i) All payments to be made by an Obligor or the Security Provider to the Lender under the Finance Documents shall be made free and clear of and without any deduction or withholding for or on account of tax from a payment under a Finance Document (such deduction or withholding, the " Tax Deduction ") unless such Obligor or Security Provider is required to make a Tax Deduction, in which case the sum payable by such Obligor (in respect of which such Tax Deduction is required to be made) shall be increased to the extent necessary to ensure that the Lender receives a sum net of any deduction or withholding equal to the sum which it would have received had no such Tax Deduction been made or required to be made. (ii) The Borrower shall promptly upon becoming aware that an Obligor or the Security Provider must make a Tax Deduction (or that there is any change in the rate or the basis of a Tax Deduction) notify the Lender accordingly. Similarly, the Lender shall notify the Borrower on becoming so aware in respect of a payment payable to that Lender. If the Borrower receives such notification from the Lender, it shall notify the other Obligor and/or the Security Provider. (iii) If an Obligor or the Security Provider is required to make a Tax Deduction, it shall make that Tax Deduction and any payment required in connection with that Tax Deduction within the time allowed and in the minimum amount required by law. (iv) Within 30 days of making either a Tax Deduction or any payment required in connection with that Tax Deduction, the Obligor or the Security Provider making that Tax Deduction shall deliver to the Lender for the Lender entitled to the payment (to which such Tax Deduction relates) evidence reasonably satisfactory to that the Lender that the Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority.
| Clause Category: | Tax Matters |
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