Withholding and Information Reporting. PMI and Folio agree that concurrent with the transfer of funds contemplated under Section 2(b) of Exhibit A, PMI shall inform Folio of any withholding or backup withholding applicable to the proceeds from the purchase and sale of a Note (“Applicable Withholding”) under applicable United States federal tax laws (the “Tax Laws”).
Appears in 2 contracts
Sources: Services Agreement (Prosper Funding LLC), Services Agreement (Prosper Funding LLC)