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LUX » Topics » Qualifying Lende

This excerpt taken from the LUX 20-F filed Jun 28, 2006.
Qualifying Lender” means:

(a)                                  in relation to Facility A and Facility C (with respect to Loans made or to be made to the Italian Borrower), a bank or financial institution which, at the date of this Agreement or, in the case of an assignee or transferee under Clause 24 (Changes to the Lenders), at the date of such assignment or (as the case may be) at the date of the relevant Transfer Certificate:

(i)                                     (A) is entitled to receive all payments under this Agreement free of any withholding tax on account of income tax in Italy; and
(B) is acting through a Facility Office in Italy; or
(ii)                                  is incorporated or resident in a country which has a double taxation treaty with Italy pursuant to which no withholding on account of income tax is required to be made on any payments under this Agreement with respect to Facility A and Facility C.

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(b)                                 in relation to Facility B and Facility C (with respect to Loans made or to be made to the US Borrower), a bank or financial institution which, at the date of this Agreement or, in the case of assignee or transferee under Clause 24 (Changes to the Lenders), at the date of such assignment or (as the case may be) at the date of the relevant Transfer Certificate:

 

(i)

is entitled to receive all payments under this Agreement free of any withholding tax on account of income tax in the United States of America; or

 

 

 

 

(ii)

is resident (as such term is defined in the appropriate convention (a “Double Taxation Treaty”) between the government of the United States of America and any other government for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and capital gains in a country with which the United States of America has an appropriate Double Taxation Treaty giving residents in that country full exemption from income tax on interest in the United States of America, is eligible for full exemption from income tax on all payments received or to be received under this Agreement under such double taxation treaty and participating through a Facility Office that entitles it to receive all payments under this Agreement free of any withholding tax on account of income tax in the United States of America; and

 

 

 

 

(iii)

has delivered to the Obligor (a) two original copies of the United States Internal Revenue Service Form
W-8BEN (or any successor form) certifying that it is a resident of a foreign country with which the United States has an income tax treaty and that it is entitled to exemption from United States withholding tax with respect to all payments to be made to the Lender under the Finance Documents under such treaty, (b) two original copies of the United States Internal Revenue Service Form W-8ECI (or any successor form) certifying that the payments made pursuant to the Finance Documents are effectively connected with the conduct by the Lender of a trade or business within the United States, (c) two original copies of the United States Internal Revenue Service Form W-9 (or any successor form) certifying that the Lender is a United States person for United States federal income tax purposes or, (d) any other applicable form prescribed by the Internal Revenue Service certifying as to the Lender’s entitlement to exemption from United States withholding tax with respect to all payments to be made to the Lender under the Finance Documents.

 

 

 

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