Payee Representation Clause Samples
The Payee Representation clause requires the payee to confirm certain facts or conditions about themselves or the transaction. Typically, this involves the payee affirming their legal authority to receive payment, compliance with relevant laws, or the accuracy of their banking information. By including this clause, the agreement ensures that the payer can rely on the payee's statements, reducing the risk of fraud or payment errors and clarifying responsibilities if misrepresentations occur.
Payee Representation. For the purpose of Section 3(f) of the Agreement, Dealer makes the following representation(s) to Counterparty: Dealer is a national banking association organized and existing under the laws of the United States of America, is an exempt recipient under Treasury Regulation Section 1.6049-4(c)(1)(ii) and is a U.S. person (as that term is used in section 1.1441-4(a)(3)(ii) of United States Treasury Regulations) for U.S. federal income tax purposes.
Payee Representation. For purposes of Section 3(f) of this Agreement, Counterparty makes the following representation to Dealer: Counterparty is a corporation established under the laws of the State of Delaware and is a “United States person” (as that term is defined in Section 7701(a)(30) of the Code).
Payee Representation. For the purpose of Section 3(f) of this Agreement, Party A and Party B make the representations specified below:
(i) The following representation will apply to Party A and to Party B: It is resident in New Zealand for the purposes of the Income Tax Act 2007 or, if it is not so resident, it carries on business in New Zealand through a fixed establishment (as defined in the Income Tax Act 2007) in New Zealand and is entering into this Agreement for the purposes of a business carried on through that fixed establishment or is a registered bank in New Zealand.
(ii) The following representation will apply to Party A and to Party B: It has RWT-exempt status for the purposes of the New Zealand resident withholding tax rules and as contemplated by Section RE 27 of the Income Tax Act 2007.
Payee Representation. For the purpose of Section 3(f) of this Agreement, Party A and Party B each make the following representation with respect to each Transaction in which the relevant Offices are located in different jurisdictions: It is fully eligible for the benefits of the "Business Profits" or "Industrial and Commercial Profits" provision, as the case may be, the "interest" provision or the "Other Income" provision (if any) of the Specified Treaty with respect to any payment described in such provisions and received or to be received by it in connection with this Agreement and no such payment is attributable to a trade or business carried on by it through a permanent establishment in the Specified Jurisdiction. If such representation applies, then.-
Payee Representation. For the purpose of Section 3(f) of the Master Agreement, each party makes the following representations to the other party:
(i) ML represents that it is a corporation incorporated in the State of Delaware.
(ii) Party B represents that it is a corporation incorporated in the State of Delaware.
Payee Representation. For the purpose of Section 3(f) of the Agreement, Dealer makes the following representation(s) to Counterparty: Dealer is [•]
Payee Representation. For the purpose of Section 3(f) of this Agreement, each of Party A and Party B will make no representations
Payee Representation. (i) For the purposes of Section 3(f) of the ISDA Form, Party A and Party B each make the following representations:
(1) The following representation will apply to Party A: It is entering into the Transaction in the ordinary course of its trade as, and is, either (I) a recognized U.K. bank or (II) a recognized U.K. swaps dealer (in either case (I) or (II), for purposes of the United Kingdom Inland Revenue extra statutory concession C17 on interest and currency swaps dated March 14, 1989), and it will bring into account payments made and received in respect of the Transaction in computing its income for United Kingdom tax purposes.
(2) The following representation will apply to Party B: Party B is a limited liability company organized under the laws of the State of Delaware, with its principal place of business in the State of Florida and its Taxpayer ID Number is ▇▇-▇▇▇▇▇▇▇;