Tax Status and Reporting Sample Clauses
The 'Tax Status and Reporting' clause defines the responsibilities of the parties regarding tax classification, compliance, and the provision of necessary tax-related information. It typically requires each party to accurately represent its tax status, such as being a corporation or partnership, and to provide relevant documentation like tax identification numbers or certificates when requested. This clause ensures that both parties fulfill their tax obligations and helps prevent misunderstandings or liabilities related to tax withholding, reporting, or remittance.
Tax Status and Reporting. It is the intended that the Trust Fund created hereunder be considered a “grantor trust” under the Code. Based upon such characterization, within a reasonable period of time after the end of each calendar year but not later than the latest date permitted by law, the Securities Administrator shall mail to each person who so requests in writing and who at anytime during such calendar year shall have been a Certificateholder the necessary information under applicable law for preparation of such Holder’s federal and state income tax returns unless substantially similar information has been previously provided to such Certificateholder. For federal income tax purposes, the grantor trust created hereunder shall have a calendar year taxable year. The Securities Administrator shall prepare or cause to be prepared and shall file or cause to be filed with the Internal Revenue Service and applicable state or local tax authorities, income tax information returns for each taxable year with respect to the grantor trust.
Tax Status and Reporting. (a) It is the intended that the Trust Fund created hereunder be considered a “grantor trust” under the Code and a WHFIT that is a WHMT. The Trust Administrator will report as required under the WHFIT Regulations to the extent such information as is reasonably necessary to enable the Trust Administrator to do so is provided to the Trust Administrator on a timely basis. The Trust Administrator can assume that the DTC is the only middleman listed as the registered holder for the related Certificates. The Trust Administrator shall not be liable for any tax reporting penalties that may arise under the WHFIT Regulations as a result of the Depositor incorrectly determining the status of the Trust Fund as a WHFIT.
(b) The Trust Administrator shall report required WHFIT information using the accrual method. The Trust Administrator shall make available WHFIT information to holders annually. In addition, the Trust Administrator will not be responsible or liable for providing subsequently amended, revised or updated information to any holder, unless requested by the holder.
(c) The Trust Administrator shall not be liable for failure to meet the reporting requirements of the WHFIT Regulations nor for any penalties thereunder if such failure is due to: (i) the lack of reasonably necessary information being provided to the Trust Administrator, (ii) incomplete, inaccurate or untimely information being provided to the Trust Administrator or (iii) the inability of the Trust Administrator, after good faith efforts, to alter its existing information reporting systems to capture information necessary to fully comply with the WHFIT Regulations for the 2007 calendar year. Each owner of a Certificate representing, in whole or in part, beneficial ownership of an interest in a WHFIT, by acceptance of its interest in such Certificate, will be deemed to have agreed to provide the Trust Administrator with information regarding any sale of such Certificate, including the price, amount of proceeds and date of sale. Absent receipt of such information, and unless informed otherwise by the Depositor, the Trust Administrator may assume there is no secondary market trading of WHFIT interests.
(d) To the extent required by the WHFIT Regulations, the Trust Administrator shall use reasonable efforts to publish on an appropriate website the CUSIPs for the Certificates that represent ownership of a WHFIT. The Trust Administrator shall make reasonable good faith efforts to keep the website accurat...
Tax Status and Reporting. From and after the date of this Agreement and through the Closing Date, each party hereto shall use its reasonable best efforts to cause the Merger to qualify, and will not knowingly take any action, cause any action to be taken, fail to take any action or cause any action to fail to be taken, which action or failure to act could reasonably be expected to prevent the Merger from qualifying as a “reorganization” within the meaning of Section 368(a) of the Code.
Tax Status and Reporting. It is the intended that the Trust Fund created hereunder be considered a “grantor trust” under the Code and widely held mortgage trust within meaning of Treasury Regulation Section 1.671-5(b)(23). Based upon such characterization, the Trustee shall use its best efforts to comply with the information reporting requirements under the Code and Treasury Regulation 1.671-5. For federal income tax purposes, the grantor trust created hereunder shall have a calendar year taxable year. The Trustee shall prepare or cause to be prepared and shall file or cause to be filed with the Internal Revenue Service and applicable state or local tax authorities, income tax information returns for each taxable year with respect to the grantor trust.
Tax Status and Reporting. It is the intention of the Depositor and the Trustee that the Trust Fund created hereunder be considered a “grantor trust” under the Code. Based upon such characterization, within a reasonable period of time after the end of each calendar year but not later than the latest date permitted by law, the Trustee shall mail to each person who at anytime during such calendar year shall have been a Certificateholder the necessary information under applicable law for preparation of such Holder’s federal and state income tax returns.]
Tax Status and Reporting. The Depositor has structured this Agreement, and the Certificates have been (or will be) issued with the intention that such Certificates qualify under applicable tax laws as indebtedness. The Depositor, its affiliates, the Trustee and each Certificateholder (or Certificate Owner) by acceptance of its Certificate (or, in the case of a Certificate Owner, by virtue of such Certificate Owner's acquisition of a beneficial interest