Common use of IRS Form 1099-S Designation Clause in Contracts

IRS Form 1099-S Designation. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i) to execute an IRS Form 1099-S Designation Agreement in the form attached hereto as Exhibit K at or prior to the Closing to designate the Title Company as the party who shall be responsible for reporting the contemplated sale of the Property to the Internal Revenue Service (the "IRS") on IRS Form 1099-S; (ii) to provide the Title Company with the information necessary to complete Form 1099-S; (iii) that the Title Company shall not be liable for the actions taken under this Section 25, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title Company; and (iv) that the Title Company shall be indemnified by the parties for any costs or expenses incurred as a result of the actions taken under this Section 25, except as they may be the result of gross negligence or willful misconduct on the part of the Title Company. The Title Company shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.

IRS Form 1099-S Designation. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i) to execute an IRS Form 1099-S Designation Agreement in the form attached hereto as Exhibit K “J” at or prior to the Closing to designate the Title Company Escrow Holder as the party who shall be responsible for reporting the contemplated sale of the Property to the Internal Revenue Service (the "“IRS"”) on IRS Form 1099-S; (ii) to provide the Title Company Escrow Holder with the information necessary to complete Form 1099-S; (iii) that the Title Company Escrow Holder shall not be liable for the actions taken under this Section 2540, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyEscrow Holder; and (iv) that the Title Company Escrow Holder shall be indemnified by the parties for any costs or of expenses incurred as a result of the actions taken under this Section 2540, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyEscrow Holder. The Title Company Escrow Holder shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.

IRS Form 1099-S Designation. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i) to execute an IRS Form 1099-S Designation Agreement in the form attached hereto as Exhibit K at or prior to the Closing to designate the Title Company as the party who shall be responsible for reporting the contemplated sale of the Property to the Internal Revenue Service (the "IRS") on IRS Form 1099-S; (ii) to provide the Title Company with the information necessary to complete Form 1099-1099- S; (iii) that the Title Company shall not be liable for the actions taken under this Section 2526, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title Company; and (iv) that the Title Company shall be indemnified by the parties for any costs or expenses incurred as a result of the actions taken under this Section 2526, except as they may be the result of gross negligence or willful misconduct on the part of the Title Company. The Title Company shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.

IRS Form 1099-S Designation. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i) to execute an IRS Form 1099-S Designation Agreement in the form attached hereto as Exhibit K Schedule 13.1 at or prior to the Closing to designate the Title Company (the “Designee”) as the party who shall be responsible for reporting the contemplated sale of the Property to the Internal Revenue Service (the "“IRS"”) on IRS Form 1099-S; (ii) to provide the Title Company Designee with the information necessary to complete Form 1099-S; (iii) that the Title Company Designee shall not be liable for the actions taken under this Section 25Agreement, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyDesignee; and (iv) that the Title Company Designee shall be indemnified by the parties for any costs or expenses incurred as a result of the actions taken under this Section 25hereunder, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyDesignee. The Title Company Designee shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.

IRS Form 1099-S Designation. In order to comply with the information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i1) to execute an IRS Form 1099-S Designation Agreement in form mutually satisfactory to the form attached hereto as Exhibit K parties at or prior to the Closing closing to designate SELLER’s attorney (the Title Company "Designee") as the party who shall be responsible for reporting the contemplated sale of the Property Premise to the Internal Revenue Service (the "IRS") on IRS Form 1099-S; (ii2) to provide the Title Company Designee with the information necessary to complete Form 1099-S; (iii3) that the Title Company Designee shall not be liable for the actions taken under this Section 25Agreement, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyDesignee; and (iv4) that the Title Company Designee shall be indemnified by the parties for any costs or expenses incurred as a result of the actions taken under this Section 25hereunder, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyDesignee. The Title Company Designee shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.

IRS Form 1099-S Designation. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i) to execute an IRS Form 1099-S Designation Agreement in the form attached hereto as Exhibit K L at or prior to the Closing to designate the Title Company as the party who shall be responsible for reporting the contemplated sale of the Property to the Internal Revenue Service (the "IRS") on IRS Form 1099-S; (ii) to provide the Title Company with the information necessary to complete Form 1099-S; (iii) that the Title Company shall not be liable for the actions taken under this Section 25, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title Company; and (iv) that the Title Company shall be indemnified by the parties for any costs or expenses incurred as a result of the actions taken under this Section 25, except as they may be the result of gross negligence or willful misconduct on the part of the Title Company. The Title Company shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.

IRS Form 1099-S Designation. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i) to execute an IRS Form 1099-S Designation Agreement in the form attached hereto as Exhibit K J at or prior to the Closing to designate the Title Company as the party who shall be responsible for reporting the contemplated sale of the Property to the Internal Revenue Service (the "IRS") on IRS Form 1099-S; (ii) to provide the Title Company with the information necessary to complete Form 1099-S; (iii) that the Title Company shall not be liable for the actions taken under this Section 25, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title Company; and (iv) that the Title Company shall be indemnified by the parties for any costs or expenses incurred as a result of the actions taken under this Section 25, except as they may be the result of gross negligence or willful misconduct on the part of the Title Company. The Title Company shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.

IRS Form 1099-S Designation. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i1) to execute an IRS Form 1099-S Designation Agreement in the form attached hereto as Exhibit K J at or prior to the Closing to designate the Title Company Escrow Agent (the "DESIGNEE") as the party who shall be responsible for reporting the contemplated sale of the Property to the Internal Revenue Service (the "IRS") on IRS Form 1099-S; (ii2) to provide the Title Company Designee with the information necessary to complete Form 1099-S; (iii3) that the Title Company Designee shall not be liable for the actions taken under this Section 25Article 13, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyDesignee; and (iv4) that the Title Company Designee shall be indemnified by the parties for any costs or expenses incurred as a result of the actions taken under this Section 25hereunder, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyDesignee. The Title Company Designee shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.

IRS Form 1099-S Designation. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i) to execute an IRS Form 1099-S Designation Agreement in the form attached hereto as Exhibit K EXHIBIT J at or prior to the Closing to designate the Title Company as the party who shall be responsible for reporting the contemplated sale of the Property to the Internal Revenue Service (the "IRS") on IRS Form 1099-S; (ii) to provide the Title Company with the information necessary to complete Form 1099-S; (iii) that the Title Company shall not be liable for the actions taken under this Section 25, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title Company; and (iv) that the Title Company shall be indemnified by the parties for any costs or expenses incurred as a result of the actions taken under this Section 25, except as they may be the result of gross negligence or willful misconduct on the part of the Title Company. The Title Company shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.

IRS Form 1099-S Designation. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i) to execute an IRS Form 1099-S Designation Agreement in the form attached hereto as Exhibit K “V” at or prior to the Closing to designate the Title Company Escrow Holder as the party who shall be responsible for reporting the contemplated sale of the Property Properties to the Internal Revenue Service (the "“IRS"”) on IRS Form 1099-S; (ii) to provide the Title Company Escrow Holder with the information necessary to complete Form 1099-S; (iii) that the Title Company Escrow Holder shall not be liable for the actions taken under this Section 2539, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyEscrow Holder; and (iv) that the Title Company Escrow Holder shall be indemnified by the parties for any costs or of expenses incurred as a result of the actions taken under this Section 2539, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyEscrow Holder. The Title Company Escrow Holder shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.

IRS Form 1099-S Designation. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i1) to execute an IRS Form 1099-S Designation Agreement in the form attached hereto as Exhibit EXHIBIT K at or prior to the Closing to designate the Title Company Escrow Agent (the DESIGNEE) as the party who shall be responsible for reporting the contemplated sale of the Property to the Internal Revenue Service (the "IRS") on IRS Form 1099-S; (ii2) to provide the Title Company Designee with the information necessary to complete Form 1099-S; (iii3) that the Title Company Designee shall not be liable for the actions taken under this Section 25Agreement, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyDesignee; and (iv4) that the Title Company Designee shall be indemnified by the parties for any costs or expenses incurred as a result of the actions taken under this Section 25hereunder, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyDesignee. The Title Company Designee shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.

IRS Form 1099-S Designation. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, the parties agree (i) to execute an IRS Form 1099-S Designation Agreement in the form attached hereto as Exhibit K at or prior to the Closing to designate the Title Company Escrow Holder as the party who shall be responsible for reporting the contemplated sale of the Property to the Internal Revenue Service (the "“IRS"”) on IRS Form 1099-S; (ii) to provide the Title Company Escrow Holder with the information necessary to complete Form 1099-S; (iii) that the Title Company Escrow Holder shall not be liable for the actions taken under this Section 25Paragraph 23, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyEscrow Holder; and (iv) that the Title Company Escrow Holder shall be indemnified by the parties for any costs or of expenses incurred as a result of the actions taken under this Section 25Paragraph 23, except as they may be the result of gross negligence or willful misconduct on the part of the Title CompanyEscrow Holder. The Title Company Escrow Holder shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S.