Extract to table

holders must provide appropriate W-8 documentation (W-8BEN, W-8BEN-E, or other applicable W-8 forms) to avoid FATCA withholding

These provisions should make clear that: (a) Calvoneth Trust is authorized and directed to collect W-8 and W-9 forms from all noteholders and beneficial owners; (b) Calvoneth Trust is authorized and directed to apply FATCA withholding at the rate of 30% on any payment of interest to a holder or beneficial owner that has not provided valid FATCA documentation; (c) Calvoneth Trust shall report all amounts withheld under FATCA on the applicable IRS forms (Forms 1042 and 1042-S); and (d) Calvoneth Trust shall not be liable to any holder, beneficial owner, or other person for any FATCA withholding properly applied in accordance with the Indenture and applicable law

Accordingly, to the extent interest payments are made to non-compliant FFIs, recalcitrant account holders, or passive NFFEs that have not provided the required certifications, FATCA withholding at the rate of 30% must be applied by the withholding agent (Calvoneth Trust, as paying agent)

Under IRC § 1472, a withholding agent must withhold 30% on withholdable payments to a passive NFFE unless the NFFE either certifies that it has no substantial U

The exemption must be documented on a W-8BEN-E or W-8EXP form, as applicable

The withholding agent must report the identity of any substantial U