Mexican Financial Institution definition

Mexican Financial Institution means an institución de banca múltiple or an institución de banca de desarrollo organized or created, as appropriate, and existing pursuant to and in accordance with the laws of Mexico and authorized to engage in the business of banking by Hacienda.

Mexican Financial Institution means a financial institution organized under and existing pursuant to and in accordance with the laws of Mexico.

Mexican Financial Institution means (i) any Financial Institution resident in Mexico, but excluding any branches of such Financial Institution that are located outside Mexico, and (ii) any branch of a Financial Institution not resident in Mexico, if such branch is located in Mexico.

Examples of Mexican Financial Institution in a sentence

• The Borrower and the Administrative Agent shall be entitled to rely upon the accuracy of any such documentation furnished to it by any Payee that is not a Mexican Financial Institution and shall have no obligation to indemnify such Payee for any incremental taxes, interest or penalties that may become payable by such Payee solely as a result of any inaccuracy contained therein or the Payee’s failure to furnish such documentation.

• Each Lender that is not a Mexican Financial Institution agrees that, upon the occurrence of any event giving rise to the operation of Section 2.12, 2.13 or 2.14(a) as to it, it will use its commercially reasonable efforts to avoid or minimize the consequence of such event; provided that such action shall not, in the judgment of such Lender, as the case may be, be illegal or materially and adversely economically or otherwise disadvantageous to it.

• A Reporting Mexican Financial Institution may not rely on a self-certification or documentary evidence if the Reporting Mexican Financial Institution knows or has reason to know that the self-certification or documentary evidence is incorrect or unreliable.

• A Reporting Mexican Financial Institution must implement procedures to ensure that a relationship manager identifies any change in circumstances of an account.

• If a Preexisting Individual Account is a High Value Account as of June 30, 2014, the Reporting Mexican Financial Institution must complete the enhanced review procedures described in paragraph D of this section with respect to such account by June 30, 2015.

• If the Account Holder is a Mexican Financial Institution or other Partner Jurisdiction Financial Institution treated by the IRS as a Nonparticipating Financial Institution, then the account is not a U.S. Reportable Account, but payments to the Account Holder must be reported as contemplated in subparagraph 1(b) of Article 4 of the Agreement.

• If based on this review such account is identified as a U.S. Reportable Account on or before December 31, 2014, the Reporting Mexican Financial Institution must report the required information about such account with respect to 2014 in the first report on the account and on an annual basis thereafter.

• This obligation shall exist while this AGREEMENT is in force and for a period of 3 years thereafter.

• If based on this review such account is identified as a U.S. Reportable Account, the Reporting Mexican Financial Institution must report the required information about such account with respect to the year in which it is identified as a U.S. Reportable Account and subsequent years on an annual basis, unless the Account Holder ceases to be a Specified U.S. Person.

• For example, if a relationship manager is notified that the account holder has a new mailing address in the United States, the Reporting Mexican Financial Institution shall treat the new address as a change in circumstances and shall obtain the appropriate documentation from the account holder.

More Definitions of Mexican Financial Institution

Mexican Financial Institution means a financial institution that qualifies as such pursuant to Article 7 of the Mexican Income Tax Law (Ley del Impuesto Sobre la Renta) (or any successor provision).

Mexican Financial Institution means a financial institution organized and existing pursuant to and in accordance with the laws of Mexico. “Mexican GAAP” shall mean the generally accepted accounting principles that are, unless otherwise specified, applicable in Mexico.

Mexican Financial Institution means a financial institution that qualifies as such pursuant to Article 7 of the Mexican Income Tax Law, organized under and existing pursuant to and in accordance with the laws of Mexico.

Mexican Financial Institution means an institución de banca múltiple or an institución de banca de desarrollo organized or created, as appropriate, and existing pursuant to and in accordance with the laws of the United Mexican States and authorized to engage in the business of banking by the Hacienda or under applicable Law, as applicable. Month, with respect to an Interest Period under the LIBOR Rate Option, shall mean the interval between the days in consecutive calendar months numerically corresponding to the first day of such Interest Period. If any LIBOR Rate Interest Period begins on a day of a calendar month for which there is no numerically corresponding day in the month in which such Interest Period is to end, the final month of such Interest Period shall be deemed to end on the last Business Day of such final month. Multiemployer Plan shall mean any employee benefit pension plan which is a ‘‘multiemployer plan’‘ within the meaning of Section 4001(a)(3) of ERISA and to which the Borrower or any member of the ERISA Group is then making or accruing an obligation to make contributions or, within the preceding five plan years, has made or had an obligation to make such contributions. Non-Consenting Lender shall have the meaning specified in Section 11.1 [Modifications, Amendments or Waivers]. Notes shall mean, collectively, the promissory notes in the form of Exhibit 1.1(N) evidencing the Revolving Credit Loans. Obligation shall mean any obligation or liability of any of the Loan Parties, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due, under or in connection with this Agreement, the Notes, the Letters of Credit, the Administrative Agent’s Letter or any other Loan Document whether to the Administrative Agent, any of the Lenders or their Affiliates or other persons provided for under such Loan Documents. Notwithstanding the foregoing provisions in this definition, Obligations shall not include Excluded Swap Obligations.