Passive Ownership definition

Passive Ownership means a Person who has an ownership interest in another Person, but only to the extent such Person neither has any Control over such other Person nor any right, authority, power or ability to influence in any material manner the direction of the management and policies of such other Person.
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Passive Ownership means the investment in such stock is not for the purpose, directly or indirectly, individually or as part of a group (as defined below) of influencing, in any manner, the management, board of directors or policies of or controlling such corporation or any of its subsidiaries.
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Related to Passive Ownership

  • Constructive Ownership means ownership of Shares by a Person, whether the interest in the Shares is held directly or indirectly (including by a nominee), and shall include interests that would be treated as owned through the application of Section 318(a) of the Code, as modified by Section 856(d)(5) of the Code. The terms “Constructive Owner,” “Constructively Owns” and “Constructively Owned” shall have the correlative meanings.

  • Passive NFE Under the CRS a “Passive NFE” means any NFE that is not an Active NFE. An Investment Entity located in a Non-Participating Jurisdiction and managed by another Financial Institution is also treated as a Passive NFE for purposes of the CRS.

  • Passive NFFE means any NFFE that is not (i) an Active NFFE, or (ii) a withholding foreign partnership or withholding foreign trust pursuant to relevant U.S. Treasury Regulations.

  • Constructive Owner, “Constructively Owns” and “Constructively Owned” shall have the correlative meanings.

  • Constructively Owns means ownership determined through the application of the constructive ownership rules of Section 318 of the Code, as modified by Section 856(d)(5) of the Code. Generally, these rules provide the following: