Recalcitrant Holder definition

Recalcitrant Holder means (i) a holder of debt or equity in the Issuer that fails to comply with the Noteholder Reporting Obligations and (ii) certain foreign financial institutions that do not either (a) enter into an agreement with the U.S. Treasury Department described in Section 1471(b) of the Code, (b) comply with the requirements imposed under an applicable intergovernmental agreement, or (c) are not otherwise exempt from (or deemed compliant with) FATCA.
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Recalcitrant Holder. (i) A holder or beneficial owner of debt or equity in the Issuer that fails to provide or update the Holder FATCA Information or otherwise prevents the Issuer from achieving compliance with FATCA or (ii) a foreign financial institution as defined under FATCA that does not comply (or is not deemed to comply or not excused from complying) with FATCA.
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Recalcitrant Holder means (i) a holder of debt or equity in the Issuer that fails to comply with the Noteholder Reporting Obligations and (ii) certain foreign financial institutions that do not either (a) enter into an agreement with the U.S. Treasury Department described in Section 1471(b) of the Code, (b) comply with the requirements imposed under an applicable
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Examples of Recalcitrant Holder in a sentence

  • The FATCA regime is now in effect for payments from sources within the United States and will apply to certain "foreign passthru payments" made from a Participating FFI to a Recalcitrant Holder or a nonparticipating FFI no earlier than 1 January 2019 (or the date of publication of the final regulations defining “foreign passthru payment” for FATCA purposes).

  • Accordingly, the Fiduciary and financial institutions through which payments on the Notes are made may be required to withhold FATCA Withholding if (i) any FFI through or to which payment on such Notes is made is not a Participating FFI, a Reporting FI, or otherwise exempt from or in deemed compliance with FATCA or (ii) an investor is a Recalcitrant Holder.

  • Accordingly, the Issuer, the Guarantor, or any other financial institution through which payments on the Bonds are made, may be required to withhold FATCA Withholding on such payments to a nonparticipating FFI or a Recalcitrant Holder.

  • Further, an FFI in a Model 1 IGA jurisdiction would not be required to withhold under FATCA or an IGA (or any law implementing an IGA or agreement with the IRS relating to FATCA) (any such withholding being a “FATCA Withholding”) from payments it makes (unless, in certain limited circumstances, where the payments are made to a Recalcitrant Holder).

  • FATCA implementation is being phased in from 01 July 2014 for payments from sources within the United States and is currently proposed to apply to "foreign passthru payments" (a term not yet defined) made by an FFI to a non-participating FFI or Recalcitrant Holder no earlier than 01 January 2017.

  • Upon request of Secured party, Debtor will deliver to Secured Party any and all of the documents evidencing or constituting the Collateral and Debtor will note Secured Party’s interest upon any and all chattel paper if not delivered to Secured Party for possession by Secured Party.

  • Accordingly, the Issuers and financial institutions through which payments on the Notes are made may be required to withhold FATCA Withholding if (i) any FFI through or to which payment on such Notes is made is not a Participating FFI, a Reporting FI, or otherwise exempt from or in deemed compliance with FATCA or (ii) an investor is a Recalcitrant Holder.

  • The Partnership might find itself in a position to close out any NPFFI or Recalcitrant Holder (by for example, forcing it to sell its Limited Partnership Units) in order to comply with its obligations under IGA Model 1 and avoid U.S. withholding tax.

  • Accordingly, the Issuer and financial institutions through which payments on the Notes are made may be required to withhold FATCA Withholding if (i) any FFI through or to which payment on such Notes is made is not a Participating FFI, a Reporting FI, or otherwise exempt from or in deemed compliance with FATCA or (ii) an investor is a Recalcitrant Holder.

  • The Trustee is hereby authorized and directed to retain from amounts otherwise distributable to any Holder sufficient funds for the payment of any such tax that is legally owed or required to be withheld by the Issuer, including due to the failure by a Holder to provide the Holder FATCA Information or the status of the Holder as a Recalcitrant Holder, and to timely remit such amounts to the appropriate taxing authority.