Standard Default Tax Terms Sample Clauses

Standard Default Tax Terms. The share distribution is considered a non-taxable event with no Fair Market Value Reporting (FMV) on shares. Principal and CIL are reported on form 1099B as constructive receipt. In the event of an exchange, dividends declared after the effective date, will accrue on the shares issuable to un-exchanged holders. Fair Market Value (FMV) tax reporting: Refers to an exchange where the share consideration) is treated as fully taxable and reportable on Form 1099-B at the per share valuation provided by client.
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Standard Default Tax Terms. The share consideration (if any) is considered a non-taxable event with no Fair Market Value Reporting (FMV) on shares. Principal and CIL are reported on form 1099B as constructive receipt. In the event of an exchange, dividends declared after the effective date, will accrue on the shares issuable to un-exchanged holders and tax reported “as if” paid currently.
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Standard Default Tax Terms. The share distribution is considered a non-taxable event with no Fair Market Value Reporting (FMV) on shares. Principal and CIL are reported on form 1099-B as constructive receipt. In the event of an exchange, dividends declared after the effective date, will accrue on the shares issuable to un-exchanged holders. Fair Market Value (FMV) tax reporting: Refers to an exchange where the share consideration) is treated as fully taxable and reportable on Form 1099-B at the per share valuation provided by client. Section 8 – Client Information Client Name: *Tax ID/EIN: *If FMV reporting is required, the Issuer (Acquirer) will be deemed the payor and you must provide your EIN for reporting purposes. In addition, Client must provide Computershare with completed IRS Form 2678 in order for Computershare to remit any backup withholding tax to the IRS on client’s behalf. Issue Description/Type: CUSIP Number(s): Will you require Computershare to perform FMV tax reporting services for this transaction? ☐ Yes ☐ No*** ***If you xxxx the above box “No” the value of all newly issued shares will NOT be tax reported to the holders and any cost basis and acquisition date of the surrendered target company shares will be carried over to the new shares. Please refer to Section 3. Depositary and IA Agreement 2019 Page 28 Section 9 Fair Market Value reporting We ask that you read each question below carefully and respond to each question accordingly as this questionnaire requires a great deal of attention. Taxable Event Information Please check one of the boxes below regarding the following statement. This event requires Fair Market Value (FMV) reporting on Form 1099-B as the share consideration received in this transaction is a taxable event to former target holders and as such the basis of the new shares received will be the FMV rate and become covered shares (i.e., date of acquisition is the effective date). True ☐ *False ☐ *If the above statement is “False”, please provide an explanation as to why: If the FMV share consideration is nontaxable, and not tax reportable, please confirm by checking a box below: *True ☐ **False ☐ Depositary and IA Agreement 2019 Page 29 *If you selected “True”, please explain briefly why the FMV share consideration is nontaxable, and whether the “cash” (if any) is tax reportable on Form 1099-B: **If you selected “False” from the above, is the FMV of the share consideration treated as taxable and reportable on a 1099-B? Yes ☐ *No ☐ *If you selected “No...
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Standard Default Tax Terms. The share consideration (if any) is considered a non-taxable event with no Fair Market Value Reporting (FMV) on shares. Principal and CIL are reported on form 1099-B as constructive receipt. In the event of an exchange, dividends declared after the effective date, will accrue on the shares issuable to un-exchanged holders and tax reported “as if” paid currently. Section 2 – Client Information Client Name: Tax ID/EIN: Issue Description/Type: CUSIP Number(s): Will you require Computershare to perform tax reporting services for this transaction? ☐ Yes ☐ No*** ***If you xxxx the above box “No”, an explanation of either how the consideration will be tax reported, or why tax reporting is not applicable (i.e. X0, X-0, etc.), is required. Please provide this explanation in Section 5 where it indicates “If you answered “No” in Section 2. Section 3 – Standard 1099 Reporting
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Standard Default Tax Terms. The share consideration (if any) is considered a non-taxable event with no Fair Market Value Reporting (FMV) on shares. Principal and CIL are reported on form 1099B as constructive receipt. In the event of an exchange, dividends declared after the effective date, will accrue on the shares issuable to un-exchanged holders and tax reported “as if” paid currently. Section 2 – Client Information Client Name: ________________________________________________________________________________________________ Tax ID/EIN: _________________________________________________________________________________________________ Issue Description/Type:_______________________________________________________________________________________ CUSIP Number(s):___________________________________________________________________________________________ Will you require Computershare to perform tax reporting services for this transaction? ☐ Yes ☐ No*** ***If you mark the above box “No”, an explanation of either how the consideration will be tax reported, or why tax reporting is not applicable (i.e. K1, W-2, etc.), is required. Please provide this explanation in Section 5 where it indicates “If you answered “No” in Section 2.
Sample 1
Standard Default Tax Terms. The share consideration (if any) is considered a non-taxable event with no Fair Market Value Reporting (FMV) on shares. Principal and cash to be issued in lieu of fraction share issuanceare reported on form 1099B as constructive receipt. In the event of an exchange, dividends declared after the effective date, will accrue on the shares issuable to un-exchanged holders and tax reported “as if” paid currently. Section 2 – Client Information Client Name: Tax ID/EIN: Issue Description/Type: CUSIP Number(s): Will you require Computershare to perform tax reporting services for this transaction? ☐ Yes ☐ No*** *** If you xxxx the above box “No”, an explanation of either how the consideration will be tax reported, or why tax reporting is not applicable (i.e. X0, X-0, etc.), is required. Please provide this explanation in Section 5 where it indicates “If you answered “No” in Section 2. Section 3 – Standard 1099 Reporting
Sample 1
Standard Default Tax Terms. The share consideration (if any) is considered a non-taxable event with no Fair Market Value Reporting (FMV) on shares. Principal and cash to be issued in lieu of fraction share issuanceare reported on form 1099B as constructive receipt. In the event of an exchange, dividends declared after the effective date, will accrue on the shares issuable to un-exchanged holders and tax reported “as if” paid currently.
Sample 1
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Standard Default Tax Terms. The share distribution is considered a non-taxable event with no Fair Market Value Reporting (FMV) on shares. Principal and cash issued in lieu of fractional share issuanceare reported on form 1099B as constructive receipt. In the event of an exchange, dividends declared after the effective date, will accrue on the shares issuable to un-exchanged holders and tax reported “as if” paid currently. Fair Market Value (FMV) tax reporting: Refers to an exchange where the share consideration) is treated as fully taxable and reportable on Form 1099-B at the per share valuation provided by client.
Sample 1

Related to Standard Default Tax Terms

  • Default Events (a) Any material breach of the Funding Agreement by the Recipient, including those set out below, will be an event of default (“Default Event”):

  • Allocation of Payments After Event of Default Notwithstanding any other provisions of this Credit Agreement, after the occurrence and during the continuance of an Event of Default with respect to any Borrower, all amounts collected from such Borrower or received by the Administrative Agent or any Lender on account of amounts outstanding under any of the Credit Documents shall be paid over or delivered as follows: FIRST, to the payment of all reasonable out-of-pocket costs and expenses (including without limitation reasonable outside attorneys’ fees other than the fees of in-house counsel) of the Administrative Agent or any of the Lenders in connection with enforcing the rights of the Lenders under the Credit Documents against such Borrower and any protective advances made by the Administrative Agent or any of the Lenders, pro rata as set forth below; SECOND, to payment of any fees owed to the Administrative Agent or any Lender by such Borrower, pro rata as set forth below; THIRD, to the payment of all accrued interest payable to the Lenders by such Borrower hereunder, pro rata as set forth below; FOURTH, to the payment of the outstanding principal amount of the Loans or Letters of Credit outstanding of such Borrower, pro rata as set forth below; FIFTH, to all other obligations which shall have become due and payable of such Borrower under the Credit Documents and not repaid pursuant to clauses “FIRST” through “FOURTH” above; and SIXTH, the payment of the surplus, if any, to whoever may be lawfully entitled to receive such surplus. In carrying out the foregoing, (a) amounts received shall be applied in the numerical order provided until exhausted prior to application to the next succeeding category and (b) each of the Lenders shall receive an amount equal to its pro rata share (based on each Lender’s Commitment Percentages) of amounts available to be applied.

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