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.

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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 the Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público) or the National Banking and Securities Commission of Mexico (Comisión Nacional Bancaria y de Valores).

Mexican Financial Institution 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 and authorized to engage in the business of banking by either the Ministry of Finance (Secretaría de Hacienda y Crédito Público) or the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores).

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.

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

• 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.

• 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.

• Unless the Reporting Mexican Financial Institution elects otherwise, either with respect to all Preexisting Individual Accounts or, separately, with respect to any clearly identified group of such accounts, where the implementing rules in Mexico provide for such an election, the following Preexisting Individual Accounts are not required to be reviewed, identified, or reported as U.S.

• If there is a change of circumstances with respect to a New Individual Account that causes the Reporting Mexican Financial Institution to know, or have reason to know, that the original self-certification is incorrect or unreliable, the Reporting Mexican Financial Institution cannot rely on the original self-certification and must obtain a valid self-certification that establishes whether the Account Holder is a U.S. citizen or resident for U.S. tax purposes.

• If a Preexisting Individual Account is not a High Value Account as of December 31, 2013, but becomes a High Value Account as of the last day of a subsequent calendar year, the Reporting Mexican Financial Institution must complete the enhanced review procedures described in paragraph D of this section with respect to such account within six (6) months after the last day of the calendar year in which the account becomes a High Value Account.

• If a Preexisting Individual Account is a High Value Account as of December 31, 2013, the Reporting Mexican Financial Institution must complete the enhanced review procedures described in paragraph D of this section with respect to such account by December 31, 2014.

• If there is a change of circumstances with respect to a High Value Account that results in one or more U.S. indicia described in subparagraph B (1) of this section being associated with the account, then the Reporting Mexican Financial Institution shall treat the account as a U.S. Reportable Account unless subparagraph B (4) of this section applies.

• In making these determinations the Reporting Mexican Financial Institution should follow the guidance in sub- paragraphs (a) through (d) of this paragraph in the order most appropriate under the circumstances.

More Definitions of Mexican Financial Institution

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

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 credit institution established and existing under the laws of Mexico and duly authorized to conduct credit operations in Mexico by the Ministry of Finance.

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.