Common use of PFIC Reporting Clause in Contracts

PFIC Reporting. If the Company determines it or any of its controlled Subsidiaries was a “passive foreign investment company” (as defined in Section 1297(a) of the Code) (a “PFIC”) for any taxable year in which the Subscriber holds Shares in the Company, the Company shall (a) notify the Subscriber of such determination, and (b) if requested in writing by the Subscriber, provide to Subscriber such information as the Subscriber, in consultation with the Company, reasonably determines is required for the Subscriber to (i) complete its U.S. Internal Revenue Service Form 8621 with respect to such entity and (ii) make an election to treat such entity as a “qualified electing fund” under Section 1295 of the Code.

PFIC Reporting. If the Company determines it or any of its controlled Subsidiaries was a “passive foreign investment company” (as defined in Section 30 1297(a) of the Code) (a “PFIC”) for any taxable year in which the Subscriber holds Shares in the Company, the Company shall (a) notify the Subscriber of such determination, and (b) if requested in writing by the Subscriber, provide to Subscriber such information as the Subscriber, in consultation with the Company, reasonably determines is required for the Subscriber to (i) complete its U.S. Internal Revenue Service Form 8621 with respect to such entity and (ii) make an election to treat such entity as a “qualified electing fund” under Section 1295 of the Code.