Common use of Seller’s Tax Status Clause in Contracts

Seller’s Tax Status. The Servicer shall not take or cause any action to be taken that could result in the Seller (i) being treated other than as a “disregarded entity” within the meaning of U.S. Treasury Regulation § 301.7701-3 for U.S. federal income tax purposes that is wholly owned by a United States person (within the meaning of Section 7701(a)(30) of the Code) (ii) becoming an association taxable as a corporation or a publicly traded partnership taxable as a corporation for U.S. federal income tax purposes or (iii) becoming subject to any Tax in any jurisdiction outside the United States.

Seller’s Tax Status. The Servicer shall not take or cause any action all actions to be taken ensure that could result in the Seller does not become (i) being treated other than as a “disregarded entity” within the meaning of U.S. Treasury Regulation § 301.7701-3 for U.S. federal income tax purposes that is wholly owned by a “United States person (person” within the meaning of Section 7701(a)(30) of the Code) Code for U.S. federal income tax purposes, (ii) becoming an association taxable as a corporation or a publicly traded partnership taxable as a corporation for U.S. federal income tax purposes or purposes, (iii) becoming subject to any Tax in any jurisdiction outside the United StatesStates or (iv) subject to any material Tax imposed by a state or local taxing authority.