Common use of Patriot Act Disclosure/Taxpayer Identification Numbers/Tax Reporting Clause in Contracts

Patriot Act Disclosure/Taxpayer Identification Numbers/Tax Reporting. (a) Patriot Act Disclosure. Section 326 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (“USA PATRIOT Act”) requires the Escrow Agent to implement reasonable procedures to verify the identity of any Person that opens a new account with it. Accordingly, Pubco and the SPAC Representative acknowledges that Section 326 of the USA PATRIOT Act and the Escrow Agents’ identity verification procedures require the Escrow Agent to obtain information which may be used to confirm Pubco’s and the SPAC Representative’s identity including without limitation name, address and organizational documents (“identifying information”). Each of Pubco and the SPAC Representative agrees to provide the Escrow Agent with and consent to the Escrow Agent obtaining from third parties any such identifying information required as a condition of opening an account with or using any service provided by the Escrow Agent.

Appears in 2 contracts

Samples: Share Escrow Agreement (AIB Acquisition Corp), Share Escrow Agreement (PS International Group Ltd.)

AutoNDA by SimpleDocs

Patriot Act Disclosure/Taxpayer Identification Numbers/Tax Reporting. (a) Patriot Act Disclosure. Section 326 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (“USA PATRIOT Act”) requires the Escrow Agent to implement reasonable procedures to verify the identity of any Person person that opens a new account with it. Accordingly, Pubco Purchaser and the SPAC Members’ Representative acknowledges acknowledge that Section 326 of the USA PATRIOT Act and the Escrow Agents’ identity verification procedures require the Escrow Agent to obtain information which may be used to confirm Pubco’s and the SPAC Representative’s identity of Purchaser or Members’ Representative including without limitation name, address and organizational documents (“identifying information”). Each of Pubco Purchaser and the SPAC Members’ Representative agrees to provide the Escrow Agent with and consent to the Escrow Agent obtaining from third parties any such identifying information required as a condition of opening an account with or using any service provided by the Escrow Agent.

Appears in 1 contract

Samples: Share Escrow Agreement (BurgerFi International, Inc.)

Patriot Act Disclosure/Taxpayer Identification Numbers/Tax Reporting. (a) Patriot Act Disclosure. Section 326 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (“USA PATRIOT Act”) requires the Escrow Agent to implement reasonable procedures to verify the identity of any Person person that opens a new account with it. Accordingly, Pubco each of Purchaser and the SPAC Sellers’ Representative acknowledges that Section 326 of the USA PATRIOT Act and the Escrow Agents’ Agent’s identity verification procedures require the Escrow Agent to obtain information which may be used to confirm Pubco’s and the SPAC Representative’s identity including without limitation name, address and organizational documents (“identifying information”). Each of Pubco Purchaser and the SPAC Representative agrees Sellers’ Representativeagrees to provide the Escrow Agent with and consent to the Escrow Agent obtaining from third parties any such identifying information required as a condition of opening an account with or using any service provided by the Escrow Agent.

Appears in 1 contract

Samples: Joinder Agreement (RumbleON, Inc.)

AutoNDA by SimpleDocs

Patriot Act Disclosure/Taxpayer Identification Numbers/Tax Reporting. (a) Patriot Act Disclosure. Section 326 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (“USA PATRIOT Act”) requires the Escrow Agent to implement reasonable procedures to verify the identity of any Person person that opens a new account with it. Accordingly, Pubco each of Buyer and the SPAC Representative Seller acknowledges that Section 326 of the USA PATRIOT Act and the Escrow Agents’ identity verification procedures require the Escrow Agent to obtain information which may be used to confirm Pubco’s and the SPAC Representative’s identity of Buyer or Seller, as applicable, including without limitation name, address and organizational documents (“identifying information”). Each of Pubco Buyer and the SPAC Representative Seller agrees to provide the Escrow Agent with and consent to the Escrow Agent obtaining from third parties any such identifying information required as a condition of opening an account with or using any service provided by the Escrow Agent.

Appears in 1 contract

Samples: Share Escrow Agreement (BurgerFi International, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!