Examples of Tax Exempt Person in a sentence
The Borrower shall, and shall cause each of the Subsidiaries to, maintain its status for U.S. federal income tax purposes as represented in Section 5.20 of this Agreement and shall not recognize any transfer of an ownership interest in the Borrower if the direct owner is not a U.S. Person that is not a Tax Exempt Person.
The Borrower shall, and shall cause each of the Subsidiaries to, maintain its status for U.S. federal income tax purposes as represented in Section 6.20 of this Agreement and shall not recognize any transfer of an ownership interest in the Borrower if the direct owner is not a U.S. Person that is not a Tax Exempt Person.
Eligible Holder means a beneficial owner of Tahoe Shares immediately prior to the Effective Time (other than a Dissenting Tahoe Shareholder) who is: (a) a resident of Canada for purposes of the Tax Act (other than a Tax Exempt Person); (b) a partnership any member of which is a resident of Canada for the purposes of the Tax Act (other than a Tax Exempt Person); or (c) an Eligible Non-Resident.
Tax Exempt Person means a person who is exempt from tax under Part I of the Tax Act.
Each Relevant Party is treated for U.S. federal income tax purposes either as disregarded as an entity separate from its owner (as described in U.S. Treasury Regulations Section 301.7701-2(c)(2)(i)) or as a partnership (and not a publicly traded partnership as defined in Section 7704(b) of the Code) and each such owner or partnership for this purpose is a U.S. Person and not a Tax Exempt Person.