TAX REPORTING OBLIGATIONS. Merchant acknowledges that, pursuant to Section 6050W of the Internal Revenue Code, BASE COMMERCE is responsible for filing with the IRS annual information returns for all reportable payment transactions to Merchant for whom BASE COMMERCE processes transactions under this Agreement and any Merchant Card Processing Agreement. Merchant shall cooperate with BASE COMMERCE and take all reasonable steps to aid its reporting obligations and compliance with Section 6050W, including, but not limited to, provide an accurate and verifiable tax filing name and tax identification number (“TIN”) for each Merchant account. Merchant further acknowledges and agrees that, if it fails to provide an accurate tax filing name or TIN information, the IRS notifies BASE COMMERCE of a discrepancy between the information provided by Merchant and the IRS records, or if requested by the IRS for any reason, BASE COMMERCE shall be required to perform backup withholding from Merchant funding by deducting and withholding income tax in an amount based on the IRS withholding regulations at the time withholding is required from the gross amount of each reportable transaction pursuant to Section 6050W and its corresponding regulations. Merchant expressly authorizes BASE COMMERCE to withhold from Merchant’s funding or debit Merchant’s Account (or another account designated by Merchant if there are insufficient funds in the Account to cover the required withholding) for any and all backup withholding amounts required by Section 6050W and its corresponding regulations.
TAX REPORTING OBLIGATIONS. Seller hereby agrees to perform all its obligations with respect to federal and/or state Tax reporting relating to or arising out of the Receivables, the Collateral and/or the Books and Records sold, transferred and assigned pursuant to this Agreement for the portion of the year 2001 that Seller owned the Receivables and for prior years. Purchaser shall file such reporting forms relating to the period of the year 2001 for which Purchaser owned the Receivables and thereafter while Purchaser continues to own such Receivables.
TAX REPORTING OBLIGATIONS. Merchant acknowledges that, pursuant to Section 6050W of the Internal Revenue Code, CHECK COMMERCE is responsible for filing with the IRS annual information returns for all reportable payment transactions to Merchant for whom CHECK COMMERCE processes transactions under this Agreement. Merchant shall cooperate with CHECK COMMERCE and take all reasonable steps to aid its reporting obligations and compliance with Section 6050W, including, but not limited to, provide an accurate and verifiable tax filing name and tax identification number (“TIN”) for each Merchant account. Merchant further acknowledges and agrees that, if it fails to provide an accurate tax filing name or TIN information, the IRS notifies CHECK COMMERCE of a discrepancy between the information provided by Merchant and the IRS records, or if requested by the IRS for any reason, CHECK COMMERCE shall be required to perform backup withholding from Merchant funding by deducting and withholding income tax in an amount based on the IRS withholding regulations at the time withholding
TAX REPORTING OBLIGATIONS. Client acknowledges that, pursuant to Section 6050W of the Internal Revenue Code, ACH PROCESSOR is responsible for filing with the IRS annual information returns for all reportable payment transactions to Client for whom ACH PROCESSOR processes transactions under this Agreement. Client shall cooperate with ACH PROCESSOR and take all reasonable steps to aid its reporting obligations and compliance with Section 6050W, including, but not limited to, provide an accurate and verifiable tax filing name and TIN for each Client account. Client further acknowledges and agrees that if it fails to provide an accurate tax filing name or TIN information, the IRS notifies ACH PROCESSOR of a discrepancy between the information provided by Client and the IRS records, or if requested by the IRS for any reason, ACH PROCESSOR shall be required to perform backup withholding from Client funding by deducting and withholding income tax in an amount based on the IRS withholding regulations at the time withholding is required from the gross amount of each reportable transaction pursuant to Section 6050W and its corresponding regulations. Client expressly authorizes ACH PROCESSOR to withhold from Client’s funding or debit Client’s Settlement Account (or another account designated by Client if there are insufficient funds in the Settlement Account to cover the required withholding) for any and all backup withholding amounts required by Section 6050W and its corresponding regulations. Client shall keep, for a period of 2 years from the date the record is produced, all records of verifiable consumer authorizations. Client further agrees to retain all documentary evidence that proves it is compliant with all applicable Rules, Regulations and Financial Institution and Agency requirements to the satisfaction of the Financial Institution, NACHA, FTC, any state Attorneys General, or any applicable Agency or government authority for a period of no less than three (3) years, or as otherwise required by any Rules, Regulation or Financial Institution or Agency requirements. Client agrees to provide copies of such documents or records to ACH PROCESSOR immediately upon written request from ACH PROCESSOR.
TAX REPORTING OBLIGATIONS. (a) Seller will report to applicable taxing authorities and holders of Deposits, with respect to the period from January 1 of the year in which the Closing occurs through the Closing Date, all interest (including dividends and other distributions with respect to money market accounts) credited to, withheld from and any early withdrawal penalties imposed upon the Deposits. Buyer will report to the applicable taxing authorities and holders of Deposits, with respect to all periods from the day after the Closing Date, all such interest credited to, withheld from and any early withdrawal penalties imposed upon the Deposits.
(b) Any amounts required by any governmental agencies to be withheld from any of the Deposits through the Closing Date will be withheld by Seller in accordance with applicable law or appropriate notice from any governmental agency and will be remitted by Seller to the appropriate agency on or prior to the applicable due date. Any such withholding required to be made subsequent to the Closing Date will be withheld by Buyer in accordance with applicable law or appropriate notice from any governmental agency and will be remitted by Buyer to the appropriate agency on or prior to the applicable due date.
(c) Within five (5) calendar days after the date hereof, Seller shall provide Buyer in an electronic format a file setting forth (i) the names, addresses, account numbers and federal tax identification numbers of each holder of Deposits for which Seller has received a certification of such holder’s tax identification number, and (ii) the names, addresses and account numbers of each holder of Deposits which is subject to back-up withholding.
(d) Within five (5) calendar days after the Closing Date, Seller shall deliver to Buyer all original forms, records and documents in its possession (or copies thereof if originals are not in Seller’s possession) regarding tax identification number certification and back-up holding requests, including, without limitation, all Forms W-8 and Forms W-9 related to the Deposits, provided that Seller shall be entitled to retain a copy of all such forms, records and documents for its files.
(e) Seller shall be responsible for delivering to payees all IRS notices with respect to information reporting and tax identification numbers required to be delivered through the Closing Date with respect to the Deposits, and Buyer shall be responsible for delivering to payees all such notices required to be delivered following the...
TAX REPORTING OBLIGATIONS. 36 -i- TABLE OF CONTENTS (continued) Page ---- ARTICLE V - COLLECTION ACCOUNT; RESERVE ACCOUNT DISTRIBUTIONS IN RESPECT OF CERTIFICATES; STATEMENTS AND REPORTS................................................ 36
TAX REPORTING OBLIGATIONS. The Servicer shall maintain the ------------------------- books and records of the Trust. The Servicer shall prepare or cause to be prepared by a Specified Accounting Firm and, to the extent required by law, the Trustee shall sign, the applicable federal, state or local information returns of the Trust and all applicable statements or schedules thereto, including statements of Certificateholders' pro rata shares of the items of income and deduction of the Trust, and the Servicer shall file on behalf of the Trust with the Internal Revenue Service or applicable state or local authorities and furnish to Certificateholders such information returns, statements and schedules at the time and in the manner required by the Code or applicable state or local ordinance. The Servicer shall comply with the information reporting requirements of Section of the Code with respect to foreclosures on or abandonments of real property forming a part of any Loan Collateral.
TAX REPORTING OBLIGATIONS. Company acknowledges that, pursuant to applicable provisions of Internal Revenue Code (“Code”), Bank is responsible for filing with the Internal Revenue Service (“IRS”) annual information returns for all reportable payment transactions to Company for whom Bank processes transactions under this Agreement. Company will cooperate with Bank and take all reasonable steps to aid its reporting obligations and compliance with the Code, including, but not limited to, providing an accurate and verifiable tax filing name and tax identification number (“TIN”) for each Account. Company further agrees that if Company fails to provide an accurate tax filing name or TIN information, the IRS notifies Bank of a discrepancy between the information provided by Company and the IRS records, or if requested by the IRS for any reason, Bank
TAX REPORTING OBLIGATIONS. Except to the extent otherwise required pursuant to a “determination” within the meaning of Section 1313(a) of the Code, the Buyer, the Sellers, and their respective Affiliates shall report, act, and file all applicable Tax Returns in all respects and for all Tax purposes consistent with (i) the final Allocation Schedule and (ii) the agreed tax reporting for the transaction described in this Agreement (including, without limitation, Section 9.8(d)), and neither the Buyer nor any of the Sellers shall take, or permit their respective Affiliates (including the Companies or any of their respective Subsidiaries) to take, a position for Tax purposes that is inconsistent with clause (i) or clause (ii) of this Section 9.8(e); provided, that this Section 9.8(e) shall not be interpreted as limiting any Party’s ability to settle, in good faith, any Tax dispute with the appropriate Governmental Authority concerning the final Allocation Schedule.
TAX REPORTING OBLIGATIONS. Seller and Buyer agree that each party shall be solely responsible for providing to the Internal Revenue Service and to each depositor, other holder of a Assumed Liability or customer, to the extent required by law, Forms 1098, 1099 INT, 1099R and 5498 and other applicable reporting forms with respect to each of the Assumed Liabilities and Acquired Assets for the period during which Seller or Buyer, as applicable, administers such Assumed Liabilities and Acquired Assets during 2009.
