Common use of PFIC Status Clause in Contracts

PFIC Status. For each taxable year in which the Company determines it is a “passive foreign investment company” as defined in Section 1297 of the Code, the Company will provide to holders of Shares that are U.S. taxpayers upon written request, or post on the Company’s website, the required information to enable such holders to make a qualified electing fund election under Section 1295 of the Code and the Treasury Regulations promulgated thereunder, and will satisfy all requirements described therein (which, for the avoidance of doubt, shall include providing a PFIC Annual Information Statement).

Appears in 6 contracts

Samples: Equity Distribution Agreement (Quipt Home Medical Corp.), Equity Distribution Agreement (Oncolytics Biotech Inc), Equity Distribution Agreement (Oncolytics Biotech Inc)

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PFIC Status. For each taxable year in which the Company determines it is a "passive foreign investment company" as defined in Section 1297 of the CodeInternal Revenue Code of 1986, the Company will provide to holders of Common Shares that are U.S. taxpayers upon written requestwith, or post on the Company’s 's website, the required information to enable such holders to make a qualified electing fund election under Section 1295 of the Internal Revenue Code of 1986 and the Treasury Regulations promulgated thereunder, and will satisfy all requirements described therein (which, for the avoidance of doubt, shall include providing a PFIC Annual Information Statement).

Appears in 2 contracts

Samples: Purchase Agreement (Avalon Rare Metals Inc.), Sales Agreement (Avalon Rare Metals Inc.)

PFIC Status. For each taxable year in which the Company determines it is a “passive foreign investment company” as defined in Section 1297 of the Code, upon written request, the Company will provide to holders of Shares that are U.S. taxpayers upon written request, or post on the Company’s website, the required information to enable such holders to make a qualified electing fund election under Section 1295 of the Code and the Treasury Regulations promulgated thereunder, and will satisfy all requirements described therein (which, for the avoidance of doubt, shall include providing a PFIC Annual Information Statement).

Appears in 2 contracts

Samples: Reunion Neuroscience (Reunion Neuroscience Inc.), Equity Distribution Agreement (Cardiol Therapeutics Inc.)

PFIC Status. For each taxable year in which the Company determines it is a “passive foreign investment company” as defined in Section 1297 of the Internal Revenue Code of 1986, as amended (the “Code”), the Company will provide to holders of Common Shares that are U.S. taxpayers upon written request, or post on the Company’s 's website, the required information to enable such holders to make a qualified electing fund election under Section 1295 of the Code and the Treasury Regulations promulgated thereunder, and will satisfy all requirements described therein (which, for the avoidance of doubt, shall include providing a PFIC Annual Information Statement).

Appears in 1 contract

Samples: Purchase Agreement (Oncolytics Biotech Inc)

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PFIC Status. For each taxable year in which the Company determines it is a “passive foreign investment company” as defined in Section 1297 of the Code, the Company will provide to holders of Shares that are U.S. taxpayers the Investor upon written request, or post on the Company’s website, the required information to enable such U.S. holders to make a qualified electing fund election under Section 1295 of the Code and the Treasury Regulations promulgated thereunder, and will satisfy all requirements described therein (which, for the avoidance of doubt, shall include providing a PFIC Annual Information Statement).

Appears in 1 contract

Samples: Purchase Agreement (Cardiome Pharma Corp)

PFIC Status. For each taxable year after 2015 in which the Company determines it is a “passive foreign investment company” as defined in Section 1297 of the Code, the Company will provide to holders of Shares that are U.S. taxpayers upon written request, or post on the Company’s website, the required information to enable such holders to make a qualified electing fund election under Section 1295 of the Code and the Treasury Regulations promulgated thereunder, and will satisfy all requirements described therein (which, for the avoidance of doubt, shall include providing a PFIC Annual Information Statement).

Appears in 1 contract

Samples: Equity Distribution Agreement (B2gold Corp)

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