Common use of Significant Non-Compliance Clause in Contracts

Significant Non-Compliance. Under Article 5(3) of the IGA, the U.S. Competent Authority has the discretion to determine whether there is significant non-compliance with the obligations to obtain and exchange information described in Articles 2(2) and 4(1)(b) of the IGA with respect to a Reporting HS/VCS Financial Institution. The U.S. Competent Authority also has the discretion to determine significant non-compliance based on failure to satisfy due diligence, reporting, withholding and other obligations with respect to a Reporting HS/VCS Financial Institution. The U.S. Competent Authority may determine that certain failures constitute significant non-compliance with respect to a Reporting HS/VCS Financial Institution regardless of whether the failure is attributable to the HS/VCS Competent Authority or the Reporting HS/VCS Financial Institution. Examples of significant non-compliance are set forth in Paragraphs

Significant Non-Compliance. Under Article 5(3) of the IGA, the U.S. Competent Authority has the discretion to determine whether there is significant non-compliance with the obligations to obtain and exchange information described in Articles 2(2) and 4(1)(b) of the IGA with respect to a Reporting HS/VCS Antigua and Barbuda Financial Institution. The U.S. Competent Authority also has the discretion to determine significant non-compliance based on failure to satisfy due diligence, reporting, withholding and other obligations with respect to a Reporting HS/VCS Antigua and Barbuda Financial Institution. The U.S. Competent Authority may determine that certain failures constitute significant non-compliance with respect to a Reporting HS/VCS Antigua and Barbuda Financial Institution regardless of whether the failure is attributable to the HS/VCS Antigua and Barbuda Competent Authority or the Reporting HS/VCS Antigua and Barbuda Financial Institution. Examples of significant non-compliance are set forth in ParagraphsParagraphs 4.2.1.1 through 4.2.1.3.

Significant Non-Compliance. Under Article 5(3) of the IGA, the U.S. Competent Authority has the discretion to determine whether there is significant non-compliance with the obligations to obtain and exchange information described in Articles 2(2) and 4(1)(b) of the IGA with respect to a Reporting HS/VCS Saint Kitts and Nevis Financial Institution. The U.S. Competent Authority also has the discretion to determine significant non-compliance based on failure to satisfy due diligence, reporting, withholding and other obligations with respect to a Reporting HS/VCS Saint Kitts and Nevis Financial Institution. The U.S. Competent Authority may determine that certain failures constitute significant non-compliance with respect to a Reporting HS/VCS Saint Kitts and Nevis Financial Institution regardless of whether the failure is attributable to the HS/VCS Saint Kitts and Nevis Competent Authority or the Reporting HS/VCS Saint Kitts and Nevis Financial Institution. Examples of significant non-compliance are set forth in ParagraphsParagraphs 4.2.1.1 through 4.2.1.3.

Significant Non-Compliance. Under Article 5(3) of the IGA, the U.S. Competent Authority has the discretion to determine whether there is significant non-compliance with the obligations to obtain and exchange information described in Articles 2(2) and 4(1)(b) of the IGA with respect to a Reporting HS/VCS Financial Institution. The U.S. Competent Authority also has the discretion to determine significant non-compliance based on failure to satisfy due diligence, reporting, withholding and other obligations with respect to a Reporting HS/VCS Financial Institution. The U.S. Competent Authority may determine that certain failures constitute significant non-compliance with respect to a Reporting HS/VCS Financial Institution regardless of whether the failure is attributable to the HS/VCS Competent Authority or the Reporting HS/VCS Financial Institution. Examples of significant non-compliance are set forth in ParagraphsParagraphs 4.2.1.1 through 4.2.1.3.

Significant Non-Compliance. Under Article 5(3) of the IGA, the U.S. Competent Authority has the discretion to determine whether there is significant non-compliance with the obligations to obtain and exchange information described in Articles 2(2) and 4(1)(b) of the IGA with respect to a Reporting HS/VCS Anguilla Financial Institution. The U.S. Competent Authority also has the discretion to determine significant non-compliance based on failure to satisfy due diligence, reporting, withholding and other obligations with respect to a Reporting HS/VCS Anguilla Financial Institution. The U.S. Competent Authority may determine that certain failures constitute significant non-compliance with respect to a Reporting HS/VCS Anguilla Financial Institution regardless of whether the failure is attributable to the HS/VCS Anguillian Competent Authority or the Reporting HS/VCS Anguilla Financial Institution. Examples of significant non-compliance are set forth in ParagraphsParagraphs 4.2.1.1 through 4.2.1.3.