Common use of New Applicants Clause in Contracts

New Applicants. An FFI may register on Form 8957, Foreign Account Tax Compliance Act (FATCA) Registration, via the FATCA registration website available at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/fatca to enter into an FFI agreement on behalf of all branches (defined in section 2.07 of the FFI agreement as including a home office), other than branches that are reporting Model 1 FFIs or U.S. branches, so that each of such branches may be treated as a participating FFI and receive a global intermediary identification number (GIIN). An FFI that is eligible to be treated as a reporting Model 2 FFI pursuant to an applicable Model 2 IGA with respect to one or more of its branches (including a home office) may also register on the FATCA registration website on behalf of such branches to obtain a GIIN and to agree to comply with the terms of the FFI agreement, as modified by an applicable Model 2 IGA, so that such branches may be treated as reporting Model 2 FFIs. The effective date of the FFI agreement with respect to an FFI or a branch of an FFI that is a participating FFI is the date on which the IRS issues a GIIN to the FFI or branch.