Common use of Payee Representation Clause in Contracts

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 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 or formed under the laws of the United States of America, is an exempt recipient under Treasury Regulation Section 1.6049-4(c)(1)(ii) America and is a U.S. person (as that term is used defined in section 1.1441-4(a)(3)(iiSection 7701(a)(30) of the United States Treasury Regulations) for U.S. federal income tax purposesInternal Revenue Code of 1986, as amended).