Small Financial Institutions with Local Client Base Sample Clauses

Small Financial Institutions with Local Client Base. A Danish Financial Institution that meets all of the following requirements: a. The Financial Institution must be licensed and regulated under the laws of Denmark; b. The Financial Institution must have no fixed place of business outside Denmark; c. The Financial Institution must not solicit account holders outside Denmark. For this purpose, a Financial Institution shall not be considered to have solicited account holders outside of Denmark merely because it operates a website, provided that the website does not specifically indicate that the Financial Institution provides accounts or services to nonresidents or otherwise target or solicit U.S. customers; d. The Financial Institution must be required under the tax laws of Denmark to perform either information reporting or withholding of tax with respect to accounts held by residents of Denmark; e. At least 98 percent of the accounts by value provided by the Financial Institution must be held by residents (including residents that are entities) of Denmark or another Member State of the European Union; f. Subject to subparagraph 1(g), below, beginning on January 1, 2014, the Financial Institution does not maintain accounts for (i) any Specified U.S. Person who is not a resident of Denmark (including a U.S. Person that was a resident of Denmark when the account was opened but subsequently ceases to be a resident of Denmark), (ii) a Nonparticipating Financial Institution, or (iii) any Passive NFFE with Controlling Persons who are U.S. citizens or residents; g. On or before January 1, 2014, the Financial Institution must implement policies and procedures to monitor whether it provides any account held by a person described in subparagraph 1(f), and if such an account is discovered, the Financial Institution must report such account as though the Financial Institution were a Reporting Danish Financial Institution or close such account; h. With respect to each account that is held by an individual who is not a resident of Denmark or by an entity, and that is opened prior to the date that the Financial Institution implements the policies and procedures described in subparagraph 1(g), above, the Financial Institution must review those accounts in accordance with the procedures described in Annex I applicable to Preexisting Accounts to identify any U.S. Reportable Account or account held by a Nonparticipating Financial Institution, and must close any such accounts that were identified, or report on such accounts as ...
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Small Financial Institutions with Local Client Base. A Norwegian Financial Institution that meets all of the following requirements: a) The Financial Institution must be licensed and regulated under the laws of Norway; b) The Financial Institution must have no fixed place of business outside Norway; c) The Financial Institution must not solicit Account Holders outside Norway. For this pur- pose, a Financial Institution shall not be considered to have solicited Account Holders out- side of Norway merely because it operates a website, provided that the website does not specifically indicate that the Financial Institution provides accounts or services to nonresi- dents or otherwise target or solicit U.S. customers; d) The Financial Institution must be required under the tax laws of Norway to perform either information reporting or withholding of tax with respect to accounts held by residents of Norway; e) At least 98 percent of the accounts by value provided by the Financial Institution must be held by residents (including residents that are entities) of Norway or another Member State of the European Union provided that Norway provides information on an automatic basis to the relevant Member State; f) Subject to subparagraph 1 g), below, beginning on January 1, 2014, the Financial Institu- tion does not maintain accounts for (i) any Specified U.S. Person who is not a resident of Norway (including a U.S. Person that was a resident of Norway when the account was opened but subsequently ceases to be a resident of Norway); (ii) a Nonparticipating Xxxxx- cial Institution; or (iii) any Passive NFFE with Controlling Persons who are U.S. citizens or residents; g) On or before January 1, 2014, the Financial Institution must implement policies and pro- cedures to monitor whether it provides any account held by a person described in subpara- graph 1 f), and if such an account is discovered, the Financial Institution must report such account as though the Financial Institution were a Reporting Norwegian Financial Institu- tion or close such account; h) With respect to each account that is held by an individual who is not a resident of Norway or by an entity, and that is opened prior to the date that the Financial Institution imple- ments the policies and procedures described in subparagraph 1 g), above, the Financial In- stitution must review those accounts in accordance with the procedures described in Annex I applicable to Preexisting Accounts to identify any U.S. Reportable Account or account held by a Nonparticipating ...
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Small Financial Institutions with Local Client Base. A Spanish Financial Institution that meets all of the following requirements: a. The Financial Institution must be licensed and regulated under the laws of Spain; b. The Financial Institution must have no fixed place of business outside Spain; c. The Financial Institution must not solicit Account Holders outside Spain. For this purpose, a Financial Institution shall not be considered to have solicited Account Holders outside of Spain merely because it operates a website, provided that the website does not specifically indicate that the Financial Institution provides accounts or services to nonresidents or otherwise target or solicit U.S. customers; d. The Financial Institution must be required under the tax laws of Spain to perform either information reporting or withholding of tax with respect to accounts held by residents of Spain; e. At least 98 percent of the accounts by value provided by the Financial Institution must be held by residents (including residents that are entities) of Spain or another Member State of the European Union; f. Subject to subparagraph 1(g), below, beginning on January 1, 2014, the Financial Institution does not provide accounts to (i) any Specified U.S. Person who is not a resident of Spain (including a U.S. Person that was a resident of Spain when the account was opened but subsequently ceases to be a resident of Spain), (ii) a Nonparticipating Financial Institution, or (iii) any Passive NFFE with Controlling Persons who are U.S. citizens or residents; g. On or before January 1, 2014, the Financial Institution must implement policies and procedures to monitor whether it provides any account held by a person described in subparagraph 1(f), and if such an account is discovered, the Financial Institution must report such account as though the Financial Institution were a Reporting Spanish Financial Institution or close such account; h. With respect to each account that is held by an individual who is not a resident of Spain or by an entity, and that is opened prior to the date that the Financial Institution implements the policies and procedures described in subparagraph 1(g), above, the Financial Institution must review those accounts in accordance with the procedures described in Annex I applicable to Preexisting Accounts to identify any U.S. Reportable Account or account held by a Nonparticipating Financial Institution, and must close any such accounts that were identified, or report on such accounts as though the Financial I...
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Small Financial Institutions with Local Client Base. A [FATCA Partner] Financial Institution that meets all of the following requirements: a. The Financial Institution must be licensed and regulated under the laws of [FATCA Partner]; b. The Financial Institution must have no fixed place of business outside [FATCA Partner]; c. The Financial Institution must not solicit account holders outside [FATCA Partner]. For this purpose, a Financial Institution shall not be considered to have solicited account holders outside of [FATCA Partner] merely because it operates a website, provided that the website does not specifically indicate that the Financial Institution provides accounts or services to nonresidents or otherwise target or solicit U.S. customers; d. The Financial Institution must be required under the tax laws of [FATCA Partner] to perform either information reporting or withholding of tax with respect to accounts held by residents of [FATCA Partner]; e. At least 98 percent of the accounts by value provided by the Financial Institution must be held by residents (including residents that are entities) of [FATCA Partner] [or another Member State of the European Union]; f. Subject to subparagraph 1(g), below, beginning on January 1, 2014, the Financial Institution does not maintain accounts for (i) any Specified U.S. Person who is not a resident of [FATCA Partner] (including a U.S. Person that was a resident of [FATCA Partner] when the account was opened but subsequently ceases to be a resident of [FATCA Partner]), (ii) a Nonparticipating Financial Institution, or (iii) any Passive NFFE with Controlling Persons who are U.S. citizens or residents; g. On or before January 1, 2014, the Financial Institution must implement policies and procedures to monitor whether it provides any account held by a person described in subparagraph 1(f), and if such an account is discovered, the Financial Institution must report such account as though the Financial Institution were a Reporting [FATCA Partner] Financial Institution or close such account; h. With respect to each account that is held by an individual who is not a resident of [FATCA Partner] or by an entity, and that is opened prior to the date that the Financial Institution implements the policies and procedures described in subparagraph 1(g), above, the Financial Institution must review those accounts in accordance with the procedures described in Annex I applicable to Preexisting Accounts to identify any U.S. Reportable Account or account held by a Nonparticipating ...
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Small Financial Institutions with Local Client Base. A German Financial Institution that meets all of the following requirements: a. The Financial Institution must be licensed and regulated under the laws of the Federal Republic of Germany; b. The Financial Institution must have no fixed place of business outside the Federal Republic of Germany; c. The Financial Institution must not solicit account holders outside the Federal Republic of Germany. For this purpose, a Financial Institution shall not be considered to have solicited account holders outside of the Federal Republic of Germany merely because it operates a website, provided that the website does not specifically indicate that the Financial Institution provides accounts or services to nonresidents or otherwise target or solicit U.S. customers; d. The Financial Institution must be required under the tax laws of the Federal Republic of Germany to perform either information reporting or withholding of tax with respect to accounts held by residents of the Federal Republic of Germany; e. At least 98 percent of the accounts by value provided by the Financial Institution must be held by residents (including residents that are entities) of the Federal Republic of Germany or another Member State of the European Union; f. Subject to subparagraph 1(g), below, beginning on January 1, 2014, the Financial Institution does not maintain accounts for (i) any Specified U.S. Person who is not a resident of the Federal Republic of Germany (including a U.S. Person that was a resident of the Federal Republic of Germany when the account was opened but subsequently ceases to be a resident of the Federal Republic of Germany), (ii) a Nonparticipating Financial Institution, or (iii) any Passive NFFE with Controlling Persons who are U.S. citizens or residents; g. On or before January 1, 2014, the Financial Institution must implement policies and procedures to monitor whether it provides any account held by a person described in subparagraph 1(f), and if such an account is discovered, the Financial Institution must report such account as though the Financial Institution were a Reporting German Financial Institution or close such account; h. With respect to each account that is held by an individual who is not a resident of the Federal Republic of Germany or by an entity, and that is opened prior to the date that the Financial Institution implements the policies and procedures described in subparagraph 1(g), above, the Financial Institution must review those accounts in accordanc...
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Small Financial Institutions with Local Client Base. A Norwegian Financial Institution that meets all of the following requirements:
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Related to Small Financial Institutions with Local Client Base

  • Agreements with Foreign Banking Institutions Each agreement with a foreign banking institution shall provide that: (a) the assets of each Portfolio will not be subject to any right, charge, security interest, lien or claim of any kind in favor of the foreign banking institution or its creditors or agent, except a claim of payment for their safe custody or administration; (b) beneficial ownership for the assets of each Portfolio will be freely transferable without the payment of money or value other than for custody or administration; (c) adequate records will be maintained identifying the assets as belonging to each applicable Portfolio; (d) officers of or auditors employed by, or other representatives of the Custodian, including to the extent permitted under applicable law the independent public accountants for the Fund, will be given access to the books and records of the foreign banking institution relating to its actions under its agreement with the Custodian; and (e) assets of the Portfolios held by the foreign sub-custodian will be subject only to the instructions of the Custodian or its agents.

  • Affected Financial Institutions No Loan Party is an Affected Financial Institution.

  • EEA Financial Institutions No Loan Party is an EEA Financial Institution.

  • Please see the current Washtenaw Community College catalog for up-to-date program requirements Conditions & Requirements

  • FINANCIAL INSTITUTION’S LIABILITY Liability for failure to make transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • PROCUREMENT LOBBYING To the extent this agreement is a "procurement contract" as defined by State Finance Law Sections 139-j and 139-k, by signing this agreement the contractor certifies and affirms that all disclosures made in accordance with State Finance Law Sections 139-j and 139-k are complete, true and accurate. In the event such certification is found to be intentionally false or intentionally incomplete, the State may terminate the agreement by providing written notification to the Contractor in accordance with the terms of the agreement.

  • Affected Financial Institution No Loan Party is an Affected Financial Institution.

  • Acknowledgement and Consent to Bail-In of EEAAffected Financial Institutions Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEAAffected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEAthe applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: (a) the application of any Write-Down and Conversion Powers by an EEAthe applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEAAffected Financial Institution; and (b) the effects of any Bail-in Action on any such liability, including, if applicable: (i) a reduction in full or in part or cancellation of any such liability; (ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEAAffected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or (iii) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEAthe applicable Resolution Authority.

  • EEA Financial Institution No Loan Party is an EEA Financial Institution.

  • Acknowledgement and Consent to Bail-In of EEA Financial Institutions Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: (a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and (b) the effects of any Bail-in Action on any such liability, including, if applicable: (i) a reduction in full or in part or cancellation of any such liability; (ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or (iii) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority.

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