Common use of Reporting and Withholding Clause in Contracts

Reporting and Withholding. In order to comply with Sections 1471 through 1474 of the U.S. Internal Revenue Code and the rules and regulations thereunder (as in effect from time to time, collectively, the “FATCA”), the Issuer agrees to use commercially reasonable efforts to provide to the U.S. Trustee upon its reasonable request information in the Issuer’s possession about holders or other applicable parties and/or transactions (including any modification to the terms of such transactions) so the U.S. Trustee can determine whether it has Tax related obligations under FATCA. The Issuer and the U.S. Trustee agree that (i) the U.S. Trustee shall be entitled to make any withholding or deduction from payments under this Indenture to the extent necessary to comply with FATCA and shall timely remit the full amount withheld or deducted in accordance with FATCA and (ii) the U.S. Trustee shall not have any liability for its withholding or deduction from payment under this Indenture to the extent necessary to comply with the foregoing. The terms of this section shall survive the termination of this Indenture.

Appears in 2 contracts

Sources: Indenture (South Bow USA Infrastructure Holdings LLC), Indenture (South Bow Corp)