Common use of Reporting Failures Clause in Contracts

Reporting Failures. The U.S. Competent Authority may find significant non-compliance based on a failure by a Reporting Algerian Financial Institution to report information on U.S. Reportable Accounts, as specified in Article 4(1)(a) of the IGA, or on 2015 and 2016 payments to Nonparticipating Financial Institutions, as specified in Article 4(1)(b) of the IGA.

Reporting Failures. The U.S. Competent Authority may find significant non-compliance based on a failure by a Reporting Algerian Tunisian Financial Institution to report information on U.S. Reportable Accounts, as specified in Article 4(1)(a) of the IGA, or on 2015 and 2016 payments to Nonparticipating Financial Institutions, as specified in Article 4(1)(b) of the IGA.