Common use of In compliance with the provisions of the FATCA Clause in Contracts

In compliance with the provisions of the FATCA. Act, SPB Zrt. is obliged to examine the tax residence status of the Client, based on the above data. Accordingly, SPB Zrt. determines the Accounts which are to be reported to the United States of America. The Accounts to be reported to the United States of America are the following: Home and securities accounts held at SPB Zrt. maintained by one or more Specified U.S. Persons or by a Non-U.S. Entity with one or more Controlling Persons that is a Specified U.S. Person. Notwithstanding the foregoing, home and securities accounts shall not be treated as a U.S. Reportable Account if such account is not identified by SPB Zrt. as a U.S. Reportable Account after application of the due diligence procedures in Annex I of FATCA Act– in case of the specific conditions specified therein.