Common use of Nonforeign Status Clause in Contracts

Nonforeign Status. SELLER is not a "foreign person" (i.e., a nonresident alien individual or foreign corporation) within the meaning of Section 897(a) of the Internal Revenue Code. At Closing, SELLER will furnish Purchaser, in accordance with Internal Revenue Code Section 1445 and the regulations thereunder, with an affidavit stating, under penalty of perjury, that SELLER is not a "foreign person," and stating SELLER's taxpayer identification number.

Nonforeign Status. SELLER Seller is not a "foreign person" (i.e., a nonresident alien individual or foreign corporation) within the meaning of Section 897(a) of the Internal Revenue Code. At Closing, SELLER will furnish Purchaser, in accordance with Internal Revenue Code Section 1445 and the regulations thereunder, with an affidavit stating, under penalty of perjury, that SELLER is not a "foreign person," and stating SELLER's taxpayer identification number.