Common use of Non-Foreign Entity Clause in Contracts

Non-Foreign Entity. Section 1445 of the Internal Revenue Code of 1986, as amended (the “Code”), provides that a transferee of a real property interest in the United States must withhold tax if the transferor is a foreign person. To inform TMCC that the withholding of tax will not be required in the event of a disposition of the Property pursuant to the terms of this Agreement, each Borrower hereby certifies that it is not a foreign person, foreign corporation, foreign partnership, foreign trust or foreign estate (as such terms are defined in the Code and the regulations promulgated thereunder) and that its principal place of business is at the address set forth for notices to Borrower herein. The tax identification number of each Borrower is set forth on Schedule 1. It is agreed that TMCC may disclose the contents of this certification to the Internal Revenue Service.