FIRPTA Status Sample Clauses
The FIRPTA Status clause establishes whether the seller of a property is a foreign person under the Foreign Investment in Real Property Tax Act (FIRPTA). In practice, this clause typically requires the seller to declare their status and, if they are a foreign person, may obligate the buyer to withhold a portion of the sale proceeds for tax purposes. Its core function is to ensure compliance with federal tax law by clarifying tax withholding responsibilities and preventing inadvertent tax liability for the buyer.
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FIRPTA Status. None of the Sellers is a “foreign person” as defined in the Foreign Investment in Real Property Tax Act, 26 U.S.C. 1445(f)(3) (“FIRPTA”), and Sellers agrees to execute and deliver to Purchaser an affidavit to that effect, including each Seller’s federal tax identification number, at or before the Closing.
FIRPTA Status. The Company covenants and agrees that it will take all reasonable steps within its control necessary to ensure that it will not become a “United States real property holding corporation” within the meaning of Section 897(c)(2) of the Code.
FIRPTA Status. ▇▇▇▇▇ is not, and has not been at any time during ------------- the five year period preceding the date hereof, a "United States real property holding corporation" as defined in Section 897 of the Code and the regulations promulgated thereunder.
FIRPTA Status. Neither HC nor Newco is , and neither has at any ------------- time during the five year period preceding the date hereof been, a "United States real property holding corporation" as defined in Section 897 of the Code and the regulations promulgated thereunder.
FIRPTA Status. Computone is not, and has not been at any time ------------- during the five year period preceding the date hereof, a "United States real property holding corporation" as defined in Section 897 of the Code and the regulations promulgated thereunder.
FIRPTA Status. No Property Seller is a “foreign person” as defined in FIRPTA, and each Property Seller agrees to execute and deliver to Purchaser an affidavit to that effect, including such each Property Seller’s federal tax identification number, before the Closing.
FIRPTA Status. Seller is not a “foreign person” as defined in the Foreign Investment in Real Property Tax Act, 26 U.S.C. 1445(f)(3) (“FIRPTA”), and Seller agrees to execute and deliver to Purchaser an affidavit to that effect, including Seller’s federal tax identification number, before the Closing.
FIRPTA Status. XLI is not, and has not been at any time during the five year period preceding the date hereof, a "United States real property holding corporation" as defined in Section 897 of the Code and the regulations promulgated thereunder.
FIRPTA Status. The Purchaser is not, and has not been at any time during the five year period preceding the date hereof, a "United States real property holding corporations as defined in Section 897 of the Internal Revenue Code of 1954, as amended, and the regulations promulgated thereunder.
FIRPTA Status. Georgia-Pacific is not a “foreign person” within the meaning of the Foreign Investment in Real Property Tax Act of 1986, the 1984 Tax Reform Act, or Section 1445 of the Internal Revenue Code and applicable regulations.