Common use of Passive Foreign Investment Company Status Clause in Contracts

Passive Foreign Investment Company Status. The Company believes that it was not a Passive Foreign Investment Company (“PFIC”) within the meaning of Section 1297 of the United States Internal Revenue Code of 1986, as amended, for its most recent taxable year, believes that it will not be a PFIC for its current taxable year and, based on the Company’s current operations and future projections, does not expect to be classified as a PFIC for any subsequent taxable year.

Passive Foreign Investment Company Status. The Subject to the qualifications and assumptions set forth in the Registration Statement, the Company believes that it was not a Passive Foreign Investment Company “passive foreign investment company” (“PFIC”) within the meaning of as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended, for its most recent taxable year, believes that it will not be a PFIC for its current recently completed taxable year and, based on the Company’s current operations projected income, assets and future projectionsactivities, the Company does not expect to be classified as a PFIC for any foreseeable subsequent taxable year.

Passive Foreign Investment Company Status. The Subject to the qualifications and assumptions set forth in the Registration Statement, the Pricing Disclosure Package and the Prospectus, and based on the Company’s current projected income, assets and activities, the Company believes does not expect that it was not will be classified as a Passive Foreign Investment Company passive foreign investment company (a “PFIC”) within the meaning of Section ), as defined in section 1297 of the United States Internal Revenue Code of 1986, as amended, for its most recent taxable year, believes that it will not be a PFIC for its current the taxable year andending December 31, based on the Company’s current operations and future projections, does not expect to be classified as a PFIC for any subsequent taxable year2015.

Passive Foreign Investment Company Status. The Company believes that it was does not expect to be classified as a Passive Foreign Investment Company (“PFIC”) passive foreign investment company within the meaning of Section section 1297 of the United States U.S. Internal Revenue Code of 1986, as amended, for its most recent prior taxable year, believes that it will not be a PFIC for its current taxable the year and, based on of the Company’s current operations and future projections, does not expect to be classified as a PFIC for any subsequent taxable yearOffering or in the foreseeable future.