Common use of FATCA & CRS Clause in Contracts

FATCA & CRS. (a) In the case that the obligations derived from FATCA and CRS apply to the Trust, the compliance of such obligations shall be the sole responsibility of the Trust. The Trustee, with prior written instructions from the Manager, may hire an external advisor to provide advisory regarding such obligations, at the expense of the Trust Estate. The Trustee, with prior instructions of the Manager, may issue a special power of attorney to the person of its election, to carry out any necessary acts or endeavors to comply with the obligations described herein, provided that, the Trustee shall not be responsible for the actions of the designated attorney in fact. (b) The Trustee, the Settlor, the Common Representative and the Beneficiaries shall promptly supply to the Manager or its designated attorney the relevant information, documents, affidavits, certifications, verifications, representations and forms as the Manager may reasonably request from time to time with respect to the identity (including name, date of birth and place of birth), nationality, citizenship, residency (including tax residency), ownership, tax status, tax identification number, business, control, income, beneficial owners (or controlling persons) of, or other information relating to the Trustee, the Settlor, the Common Representative, and the Beneficiaries and/or its beneficial owners (or controlling persons) so as to permit the Manager, with the support of the external advisor, to evaluate and comply with any present or future legal, regulatory or tax requirements applicable to the activities carried out through the Trust (including any tax information provisions, anti-money laundering or know your customer obligations) (“Tax Information”). The Trustee, the Settlor and the Beneficiaries further agree to update or replace any such Tax Information to the extent such Trustee, Settlor and Beneficiaries are aware of any material changes (including changes in circumstances) to any of the Information they have provided.