Home > Terms > English, UK (UE) > Indemnifiable tax

Indemnifiable tax

If such Tax is an Indemnifiable Tax, X will pay to Y, in addition to the payment to which Y is entitled under this Agreement, such additional amount as is necessary to ensure that the net amount actually received by Y (free and clear of Indemnifiable Taxes, whether assessed against X or Y) will equal the full amount Y would have received had no such deduction or withholding been required.

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  • Part of Speech: noun
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  • Industry/Domain: Banking
  • Category: Mortgage
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