Common use of Governmental Entity Clause in Contracts

Governmental Entity. The government of the Isle of Man, any political subdivision of the Isle of Man (which, for the avoidance of doubt, includes a state, province, county, or municipality), or any wholly owned agency or instrumentality of the Isle of Man or any one or more of the foregoing (each, an “Isle of Man Governmental Entity”). This category is comprised of the integral parts, controlled entities, and political subdivisions of the Isle of Man. 1. An integral part of the Isle of Man means any person, organisation, agency, bureau, fund, instrumentality, or other body, however designated, that constitutes a governing authority of the Isle of Man. The net earnings of the governing authority must be credited to its own account or to other accounts of an Isle of Man Governmental Entity, with no portion inuring to the benefit of any private person. An integral part does not include any individual who is a sovereign, official, or administrator acting in a private or personal capacity. 2. A controlled entity means an Entity that is separate in form from the Isle of Man or that otherwise constitutes a separate juridical entity, provided that: a) The Entity is wholly owned and controlled by one or more Isle of Man Governmental Entities directly or through one or more controlled entities; b) The Entity’s net earnings are credited to its own account or to the accounts of one or more Isle of Man Governmental Entities, with no portion of its income inuring to the benefit of any private person; and c) The Entity’s assets vest in one or more Isle of Man Governmental Entities upon dissolution. 3. Income does not inure to the benefit of private persons if such persons are the intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of private persons if the income is derived from the use of a governmental entity to conduct a commercial business, such as a commercial banking business, that provides financial services to private persons.

Governmental Entity. The government of the Isle of ManCayman Islands, any political subdivision of the Isle of Man Cayman Islands (which, for the avoidance of doubt, includes a state, province, county, or municipality), or any wholly owned agency or instrumentality of the Isle of Man Cayman Islands or any one or more of the foregoing (each, an a “Isle of Man Cayman Islands Governmental Entity”). This category is comprised of the integral parts, controlled entities, and political subdivisions of the Isle of ManCayman Islands. 1. An integral part of the Isle of Man Cayman Islands means any person, organisation, agency, bureau, fund, instrumentality, or other body, however designated, that constitutes a governing authority of the Isle of ManCayman Islands. The net earnings of the governing authority must be credited to its own account or to other accounts of an Isle of Man a Cayman Islands Governmental Entity, with no portion inuring to the benefit of any private person. An integral part does not include any individual who is a sovereign, official, or administrator acting in a private or personal capacity. 2. A controlled entity means an Entity that is separate in form from the Isle of Man Cayman Islands or that otherwise constitutes a separate juridical entity, provided that: a) The Entity is wholly owned and controlled by one or more Isle of Man Cayman Islands Governmental Entities directly or through one or more controlled entities; b) The Entity’s net earnings are credited to its own account or to the accounts of one or more Isle of Man Cayman Islands Governmental Entities, with no portion of its income inuring to the benefit of any private person; and c) The Entity’s assets vest in one or more Isle of Man Cayman Islands Governmental Entities upon dissolution. 3. Income does not inure to the benefit of private persons if such persons are the intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of private persons if the income is derived from the use of a governmental entity to conduct a commercial business, such as a commercial banking business, that provides financial services to private persons.

Governmental Entity. The government of the Isle of ManBritish Virgin Islands, any political subdivision of the Isle of Man British Virgin Islands (which, for the avoidance of doubt, includes a state, province, county, or municipality), or any wholly owned agency or instrumentality of the Isle of Man British Virgin Islands or any one or more of the foregoing (each, an a “Isle of Man British Virgin Islands Governmental Entity”). This category is comprised of the integral parts, controlled entities, and political subdivisions of the Isle of ManBritish Virgin Islands. 1. An integral part of the Isle of Man British Virgin Islands means any person, organisationorganization, agency, bureau, fund, instrumentality, or other body, however designated, that constitutes a governing authority of the Isle of ManBritish Virgin Islands. The net earnings of the governing authority must be credited to its own account or to other accounts of an Isle of Man Governmental Entitythe British Virgin Islands, with no portion inuring to the benefit of any private person. An integral part does not include any individual who is a sovereign, official, or administrator acting in a private or personal capacity. 2. A controlled entity means an Entity that is separate in form from the Isle of Man British Virgin Islands or that otherwise constitutes a separate juridical entity, provided that: a) The Entity is wholly owned and controlled by one or more Isle of Man British Virgin Islands Governmental Entities directly or through one or more controlled entities; b) The Entity’s net earnings are credited to its own account or to the accounts of one or more Isle of Man British Virgin Islands Governmental Entities, with no portion of its income inuring to the benefit of any private person; and c) The Entity’s assets vest in one or more Isle of Man British Virgin Islands Governmental Entities upon dissolution. 3. Income does not inure to the benefit of private persons if such persons are the intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of private persons if the income is derived from the use of a governmental entity to conduct a commercial business, such as a commercial banking business, that provides financial services to private persons.

Governmental Entity. The government of the Isle of ManCayman Islands, any political subdivision of the Isle of Man Cayman Islands (which, for the avoidance of doubt, includes a state, province, county, or municipality), or any wholly owned agency or instrumentality of the Isle of Man Cayman Islands or any one or more of the foregoing (each, an a “Isle of Man Cayman Islands Governmental Entity”). This category is comprised of the integral parts, controlled entities, and political subdivisions of the Isle of ManCayman Islands. 1. An integral part of the Isle of Man Cayman Islands means any person, organisationorganization, agency, bureau, fund, instrumentality, or other body, however designated, that constitutes a governing authority of the Isle of ManCayman Islands. The net earnings of the governing authority must be credited to its own account or to other accounts of an Isle of Man Governmental Entitythe Cayman Islands, with no portion inuring to the benefit of any private person. An integral part does not include any individual who is a sovereign, official, or administrator acting in a private or personal capacity. 2. A controlled entity means an Entity that is separate in form from the Isle of Man Cayman Islands or that otherwise constitutes a separate juridical entity, provided that: a) The Entity is wholly owned and controlled by one or more Isle of Man Cayman Islands Governmental Entities directly or through one or more controlled entities; b) The Entity’s net earnings are credited to its own account or to the accounts of one or more Isle of Man Cayman Islands Governmental Entities, with no portion of its income inuring to the benefit of any private person; and c) The Entity’s assets vest in one or more Isle of Man Cayman Islands Governmental Entities upon dissolution. 3. Income does not inure to the benefit of private persons if such persons are the intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of private persons if the income is derived from the use of a governmental entity to conduct a commercial business, such as a commercial banking business, that provides financial services to private persons.

Governmental Entity. The government of the Isle of ManUnited Arab Emirates, any political subdivision of the Isle of Man United Arab Emirates (which, for the avoidance of doubt, includes a state, province, county, or municipality), or any wholly owned agency or instrumentality of the Isle of Man United Arab Emirates or any one or more of the foregoing (each, an a “Isle of Man United Arab Emirates Governmental Entity”). This category is comprised of the integral parts, controlled entities, and political subdivisions of the Isle of ManUnited Arab Emirates. 1. An integral part of the Isle of Man United Arab Emirates means any person, organisationorganization, agency, bureau, fund, instrumentality, or other body, however designated, that constitutes a governing authority of the Isle of ManUnited Arab Emirates. The net earnings of the governing authority must be credited to its own account or to other accounts of an Isle of Man Governmental Entitythe United Arab Emirates, with no portion inuring to the benefit of any private person. An integral part does not include any individual who is a sovereign, official, or administrator acting in a private or personal capacity. 2. A controlled entity means an Entity that is separate in form from the Isle of Man United Arab Emirates or that otherwise constitutes a separate juridical entity, provided that: a) The Entity is wholly owned and controlled by one or more Isle of Man United Arab Emirates Governmental Entities directly or through one or more controlled entities; b) The Entity’s net earnings are credited to its own account or to the accounts of one or more Isle of Man United Arab Emirates Governmental Entities, with no portion of its income inuring to the benefit of any private person; and c) The Entity’s assets vest in one or more Isle of Man United Arab Emirates Governmental Entities upon dissolution. 3. Income does not inure to the benefit of private persons if such persons are the intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of private persons if the income is derived from the use of a governmental entity to conduct a commercial business, such as a commercial banking business, that provides financial services to private persons.

Governmental Entity. The government of the Isle of ManBritish Virgin Islands, any political subdivision of the Isle of Man British Virgin Islands (which, for the avoidance of doubt, includes a state, province, county, or municipality), or any wholly owned agency or instrumentality of the Isle of Man British Virgin Islands or any one or more of the foregoing (each, an a “Isle of Man British Virgin Islands Governmental Entity”). This category is comprised of the integral parts, controlled entities, and political subdivisions of the Isle of ManBritish Virgin Islands. 1. An integral part of the Isle of Man British Virgin Islands means any person, organisation, agency, bureau, fund, instrumentality, or other body, however designated, that constitutes a governing authority of the Isle of ManBritish Virgin Islands. The net earnings of the governing authority must be credited to its own account or to other accounts of an Isle of Man a British Virgin Islands Governmental Entity, with no portion inuring to the benefit of any private person. An integral part does not include any individual who is a sovereign, official, or administrator acting in a private or personal capacity. 2. A controlled entity means an Entity that is separate in form from the Isle of Man British Virgin Islands or that otherwise constitutes a separate juridical entity, provided that: a) The Entity is wholly owned and controlled by one or more Isle of Man British Virgin Islands Governmental Entities directly or through one or more controlled entities; b) The Entity’s net earnings are credited to its own account or to the accounts of one or more Isle of Man British Virgin Islands Governmental Entities, with no portion of its income inuring to the benefit of any private person; and c) The Entity’s assets vest in one or more Isle of Man British Virgin Islands Governmental Entities upon dissolution. 3. Income does not inure to the benefit of private persons if such persons are the intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of private persons if the income is derived from the use of a governmental entity to conduct a commercial business, such as a commercial banking business, that provides financial services to private persons.

Governmental Entity. The government of the Isle of Man, any political subdivision of the Isle of Man (which, for the avoidance of doubt, includes a state, province, county, or municipality), or any wholly owned agency or instrumentality of the Isle of Man or any one or more of the foregoing (each, an “Isle of Man Governmental Entity”). This category is comprised of the integral parts, controlled entities, and political subdivisions of the Isle of Man. 1. An integral part of the Isle of Man means any person, organisationorganization, agency, bureau, fund, instrumentality, or other body, however designated, that constitutes a governing authority of the Isle of Man. The net earnings of the governing authority must be credited to its own account or to other accounts of an the Isle of Man Governmental EntityMan, with no portion inuring to the benefit of any private person. An integral part does not include any individual who is a sovereign, official, or administrator acting in a private or personal capacity. 2. A controlled entity means an Entity that is separate in form from the Isle of Man or that otherwise constitutes a separate juridical entity, provided that: a) The Entity is wholly owned and controlled by one or more Isle of Man Governmental Entities directly or through one or more controlled entities; b) The Entity’s net earnings are credited to its own account or to the accounts of one or more Isle of Man Governmental Entities, with no portion of its income inuring to the benefit of any private person; and c) The Entity’s assets vest in one or more Isle of Man Governmental Entities upon dissolution. 3. Income does not inure to the benefit of private persons if such persons are the intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of private persons if the income is derived from the use of a governmental entity to conduct a commercial business, such as a commercial banking business, that provides financial services to private persons.

Governmental Entity. The Holy See or the government of the Isle of ManVatican City State, any political subdivision of the Isle of Man (which, for Holy See or the avoidance of doubt, includes a state, province, county, or municipality)Vatican City State, or any wholly owned agency or instrumentality of the Isle of Man Holy See or the Vatican City State or any one or more of the foregoing (each, an a “Isle of Man HS/VCS Governmental Entity”). This category is comprised of the integral parts, controlled entities, and political subdivisions of the Isle of ManHoly See or the Vatican City State. 1. An integral part of the Isle of Man Holy See or the Vatican City State means any person, organisationorganization, agency, bureau, fund, instrumentality, or other body, however designated, that constitutes a governing authority of the Isle of ManHoly See or the Vatican City State. The net earnings of the governing authority must be credited to its own account or to other accounts of an Isle of Man Governmental Entity, the Holy See or Vatican City State with no portion inuring to the benefit of any private person. An integral part does not include any individual who is a sovereign, official, or administrator acting in a private or personal capacity. 2. A controlled entity means an Entity that is separate in form from the Isle of Man Holy See or the Vatican City State or that otherwise constitutes a separate juridical entity, provided that: a) The Entity is wholly owned and controlled by one or more Isle of Man HS/VCS Governmental Entities directly or through one or more controlled entities; b) The Entity’s net earnings are credited to its own account or to the accounts of one or more Isle of Man HS/VCS Governmental Entities, with no portion of its income inuring to the benefit of any private person; and c) The Entity’s assets vest in one or more Isle of Man HS/VCS Governmental Entities upon dissolution. 3. Income does not inure to the benefit of private persons if such persons are the intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of private persons if the income is derived from the use of a governmental entity to conduct a commercial business, such as a commercial banking business, that provides financial services to private persons.

Governmental Entity. The government of the Isle Republic of ManKazakhstan, any political subdivision of the Isle Republic of Man Kazakhstan (which, for the avoidance of doubt, includes a state, province, county, or municipality), or any wholly owned agency or instrumentality of the Isle Republic of Man Kazakhstan or any one or more of the foregoing (each, an a “Isle Governmental Entity of Man Governmental Entitythe Republic of Kazakhstan”). This category is comprised of the integral parts, controlled entities, and political subdivisions of the Isle Republic of ManKazakhstan. 1. An integral part of the Isle Republic of Man Kazakhstan means any person, organisationorganization, agency, bureau, fund, instrumentality, or other body, however designated, that constitutes a governing authority of the Isle Republic of ManKazakhstan. The net earnings of the governing authority must be credited to its own account or to other accounts of an Isle the Republic of Man Governmental EntityKazakhstan, with no portion inuring to the benefit of any private person. An integral part does not include any individual who is a sovereign, official, or administrator acting in a private or personal capacity. 2. A controlled entity means an Entity that is separate in form from the Isle Republic of Man Kazakhstan or that otherwise constitutes a separate juridical entity, provided that: a) The Entity is wholly owned and controlled by one or more Isle of Man Governmental Entities of the Republic of Kazakhstan directly or through one or more controlled entities; b) The Entity’s net earnings are credited to its own account or to the accounts of one or more Isle Governmental Entities of Man Governmental Entitiesthe Republic of Kazakhstan, with no portion of its income inuring to the benefit of any private person; and c) The Entity’s assets vest in one or more Isle of Man Governmental Entities of the Republic of Kazakhstan upon dissolution. 3. Income does not inure to the benefit of private persons if such persons are the intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of private persons if the income is derived from the use of a governmental entity to conduct a commercial business, such as a commercial banking business, that provides financial services to private persons.

Governmental Entity. The government of the Isle of ManTrinidad and Tobago, any political subdivision of the Isle of Man Trinidad and Tobago (which, for the avoidance of doubt, includes a state, province, county, or municipality), or any wholly owned agency or instrumentality of the Isle of Man Trinidad and Tobago or any one or more of the foregoing (each, an a “Isle of Man Trinidad and Tobago Governmental Entity”). This category is comprised of the integral parts, controlled entities, and political subdivisions of the Isle of ManTrinidad and Tobago. 1. An integral part of the Isle of Man Trinidad and Tobago means any person, organisationorganization, agency, bureau, fund, instrumentality, or other body, however designated, that constitutes a governing authority of the Isle of ManTrinidad and Tobago. The net earnings of the governing authority must be credited to its own account or to other accounts of an Isle of Man Governmental EntityTrinidad and Tobago, with no portion inuring to the benefit of any private person. An integral part does not include any individual who is a sovereign, official, or administrator acting in a private or personal capacity. 2. A controlled entity means an Entity that is separate in form from the Isle of Man Trinidad and Tobago or that otherwise constitutes a separate juridical entity, provided that: a) The Entity is wholly owned and controlled by one or more Isle of Man Trinidad and Tobago Governmental Entities directly or through one or more controlled entities; b) The Entity’s net earnings are credited to its own account or to the accounts of one or more Isle of Man Trinidad and Tobago Governmental Entities, with no portion of its income inuring to the benefit of any private person; and c) The Entity’s assets vest in one or more Isle of Man Trinidad and Tobago Governmental Entities upon dissolution. 3. Income does not inure to the benefit of private persons if such persons are the intended beneficiaries of a governmental program, and the program activities are performed for the general public with respect to the common welfare or relate to the administration of some phase of government. Notwithstanding the foregoing, however, income is considered to inure to the benefit of private persons if the income is derived from the use of a governmental entity to conduct a commercial business, such as a commercial banking business, that provides financial services to private persons.