FATCA Acknowledgement Sample Clauses
The FATCA Acknowledgement clause requires parties to confirm their understanding and compliance with the Foreign Account Tax Compliance Act (FATCA), a U.S. law aimed at preventing tax evasion by U.S. persons holding accounts outside the United States. In practice, this clause obligates parties to provide necessary documentation, such as tax forms or certifications, and to disclose relevant information to financial institutions or authorities as required by FATCA. Its core function is to ensure that all parties are aware of and adhere to FATCA requirements, thereby reducing the risk of non-compliance penalties and facilitating proper tax reporting.
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FATCA Acknowledgement. For purposes of determining withholding Taxes imposed under FATCA, the Borrowers and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Loans as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).
FATCA Acknowledgement. The Borrower, the Administrative Agent and the Banks acknowledge and agree that, solely for purposes of determining the applicability of U.S. Federal withholding Taxes imposed by FATCA, this Agreement will continue to not be treated as a “grandfathered obligation” under FATCA.
FATCA Acknowledgement. For purposes of determining withholding Taxes imposed under FATCA, from and after March 31, 2015, the Borrower and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Loans and this Agreement as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).
FATCA Acknowledgement. The Borrower, the Administrative Agent and the Lenders acknowledge and agree that, solely for purposes of determining the applicability of U.S. Federal withholding Taxes imposed by FATCA, from and after the Closing Date, this Agreement will not be treated as a “grandfathered obligation” under FATCA. Notwithstanding anything to the contrary contained in any Loan Document, the Borrower shall indemnify the Administrative Agent, and hold it harmless from, any and all losses, claims, damages, liabilities and related expenses, including the fees, charges and disbursements of any counsel for any of the foregoing, incurred by or asserted against it arising out of, in connection with, or as a result of this treatment.
FATCA Acknowledgement. For purposes of determining withholding Taxes imposed under FA TCA, from and after the Amendment No. 1 Effective Date, the Borrower and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Loans as not qualifying as a "grandfathered obligation" within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).