Sponsoring Entity Sample Clauses
The Sponsoring Entity clause defines the party responsible for initiating, funding, or overseeing a particular project, agreement, or activity. In practice, this clause identifies the organization or individual that provides resources, guidance, or administrative support, and may outline their specific roles and obligations within the arrangement. Its core function is to clearly establish accountability and authority, ensuring all parties understand who is ultimately responsible for the project's execution and compliance.
Sponsoring Entity. (a) Upon satisfaction of Performance Goal 2, Measure 1 and within 90 days of the end of Year 1 of the Period of Performance:
i. the newly created entity (Emerging CDFI) must be added to this Assistance Agreement as a co-Recipient through an amendment, and the Emerging CDFI will be accountable for all performance goals and measures, reporting requirements and other Assistance Agreement obligations; and
ii. all Technical Assistance and assets acquired using Technical Assistance must be transferred by the Recipient to the Emerging CDFI.
(b) Upon execution of the amendment, the Emerging CDFI and the Recipient agree and acknowledge that for any occurrence of an Event of Noncompliance pursuant to Section 6.1 herein, both the Emerging CDFI and the Recipient may be found to be
Sponsoring Entity. “Sponsoring entity” means an entity that has registered with the IRS and agrees to perform the obligations of one or more sponsored entities pursuant to §1.1471-5(f) or §1.1472-1 and includes a sponsoring entity described in an applicable Model 1 or 2 IGA.
Sponsoring Entity. UMass Chan Medical School
Sponsoring Entity. Upon satisfaction of Performance Goal 2, Measure 1 and within 90 days of the end of Year 1 of the Period of Performance:
Sponsoring Entity. A Sponsoring Entity must file Form 8966 to report an account of an FFI or a substantial U.S. owner of a passive NFFE that it has agreed to treat as a Sponsored FFI or a Sponsored Direct Reporting NFFE. See Regulations section 1.1471-4(d)(2)(ii)(C) regarding the reporting required of a Sponsoring Entity acting on behalf of a Sponsored FFI. See Regulations section 1.1472-1(c)(5) regarding the reporting required of a Sponsoring Entity acting on behalf of a Sponsored Direct Reporting NFFE. Sponsored FFIs and Sponsored Direct Reporting NFFEs do not need to file Form 8966 if a Sponsoring Entity is reporting on its behalf. Trustee-Documented Trust. A trustee of a Trustee-Documented Trust reports on Form 8966 all information required to be reported under an applicable IGA as if it were a Reporting Model 2 FFI with respect to each U.S. account maintained by the Trustee-Documented Trust. Withholding agents. A withholding agent that is not an FFI and that makes a withholdable payment to a passive NFFE with a substantial U.S. owner (either directly or indirectly through a flow-through entity that is also a passive NFFE) if the first-mentioned NFFE is the beneficial owner of the payment, or a withholding agent that is a designated withholding agent and that makes a withholdable payment to an ODFFI with a specified U.S. person owning certain equity or debt interests in the ODFFI must report such substantial U.S. owners or specified U.S. persons on Form 8966. A U.S. payor (other than a U.S. branch) that is a PFFI (including a Reporting Model 2 FFI) or RDCFFI is not required to file Form 8966 to report an account if it reports payments to the account holder on Form 1099 to the extent specified in Regulations section 1.1471-4(d)(2)(iii)(A). gubezikonudi-fewatanamuvaxol.pdf With respect to an account held by a passive NFFE with a substantial U.S. owner or an account held by an FFI that the PFFI (including a Reporting Model 2 FFI) has agreed to treat as an ODFFI, the PFFI (including a Reporting Model 2 FFI) or RDCFFI that elects reporting on Form 1099 must still file Form 8966 to report such accounts. A withholding agent that is a U.S. payor reporting payments to U.S. non-exempt recipients must report these payments on the appropriate Form 1099 to the extent required under chapter 61. You do not need to file Form 8966 to report these payments. An FFI other than a PFFI, Reporting Model 2 FFI, or RDCFFI that is not required to file Form 8966 may still be required to report a p...
Sponsoring Entity. (a) Upon satisfaction of Performance Goal 2, Measure 1 and within 90 days of the end of Year 1 of the Period of Performance:
i. the newly created entity (Emerging CDFI) must be added to this Assistance Agreement as a co-Recipient through an amendment, and the Emerging CDFI will be accountable for all performance goals and measures, reporting requirements and other Assistance Agreement obligations; and
ii. all Technical Assistance and assets acquired using Technical Assistance must be transferred by the Recipient to the Emerging CDFI.
(b) Upon execution of the amendment, the Emerging CDFI and the Recipient agree and acknowledge that for any occurrence of an Event of Noncompliance pursuant to Section 6.1 herein, both the Emerging CDFI and the Recipient may be found to be noncompliant. Notwithstanding the foregoing, the CDFI Fund may, in its sole discretion, impose separate sanctions on the Emerging CDFI and the Recipient as it deems appropriate.