Common use of Payee Representation Clause in Contracts

Payee Representation. For the purpose of Section 3(f) of this Agreement, Party A and Party B make the representations specified below: (i) The following representation will apply to Party A and to Party B: It is resident in New Zealand for the purposes of the Income Tax Act 2007 or, if it is not so resident, it carries on business in New Zealand through a fixed establishment (as defined in the Income Tax Act 2007) in New Zealand and is entering into this Agreement for the purposes of a business carried on through that fixed establishment or is a registered bank in New Zealand. (ii) The following representation will apply to Party A and to Party B: It has RWT-exempt status for the purposes of the New Zealand resident withholding tax rules and as contemplated by Section RE 27 of the Income Tax Act 2007.