Fillable Pec-financial-asset-sales Purchaser Eligibility Certification

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Pec-financial-asset-sales Purchaser Eligibility Certification

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OMB Number: 3064-0135
Expiration Date: 10/31/2018
PRIVACY ACT STATEMENT
The Federal Deposit Insurance Act (12 U.S.C. §§1819, 1821, and 1823) and Executive Order 9397
authorizes the collection of this information. The FDIC will use this information in the marketing of
assets, to identify qualified potential purchasers and to solicit bids for assets. Submitting this
information to the FDIC is voluntary. Failure to submit all of the information requested could result
in your inability to bid on or purchase assets held by the FDIC. The information provided by
individuals is protected by the Privacy Act, 5 USC §552a. The information may be furnished to third
parties as authorized by law and in accordance with any of the other routine uses described in the
FDIC Potential Bidders List (FDIC-30-64-0019) System of Records. A complete copy of this
System of Records is available at
https://www.fdic.gov/regulations/laws/rules/2000-
4000.html#fdic200030--64--0019. If you have questions or concerns about the collection or use of
the information, you may contact the FDIC’s Chief Privacy Officer at Privacy@fdic.gov.
ESTIMATED REPORTING BURDEN
Public reporting burden for this collection is estimated to average 30 minutes per response, including
the time for reviewing instructions, searching existing data sources, gathering and maintaining the
data needed, and completing and reviewing the collection of information. Send comments regarding
the burden estimate or any other aspect of this collection of information, including suggestions for
reducing this burden, to Paperwork Reduction Act, Legal Division, FDIC, 550 17th Street NW,
Washington, D.C. 20429; and to the Office of Management and Budget, Paperwork Reduction
Project (3064-0135), Washington, D.C. 20503.
An agency may not conduct or sponsor, and a person is not required to respond to, a collection of
information unless it displays a currently valid OMB control number.
FDIC 7300/06 (3-16) Page 1 Pre-Qualification for Other Financial Asset Sales
OMB Number: 3064-0135
Expiration Date: 10/31/2018
PURCHASER ELIGIBILITY CERTIFICATION
Pre-Qualification for Other Financial Asset Sales
The purpose of the Purchaser Eligibility Certification is to identify Prospective Purchasers
who are not eligible to purchase assets of failed financial institutions from the Federal Deposit
Insurance Corporation under the laws, regulations and policies governing such sales. Completion of
the Purchaser Eligibility Certification, without modification, is a prerequisite to any such purchase.
DEFINITIONS
Affiliated Business Entity. An Affiliated Business Entity of a Prospective Purchaser means
its spouse, dependent child or any member of its household; or any entity that directly or indirectly is
under the control of the Prospective Purchaser, controls the Prospective Purchaser or is under
common control with the Prospective Purchaser.
Associated Person. An Associated Person of a Prospective Purchaser that is an individual is
(1) the Prospective Purchaser’s spouse or dependent child or any member of the Prospective
Purchaser’s household, (2) a partnership in which the Prospective Purchaser is or was a general or
limited partner at the time of occurrence of any event that would prevent certification under the next
section, (3) a limited liability company of which the Prospective Purchaser is or was a member at the
time of occurrence of any event that would prevent certification under the next section, or (4) a
corporation of which the Prospective Purchaser is or was an officer or director at the time of
occurrence of any event that would prevent certification under the next section. An Associated
Person of a Prospective Purchaser that is an entity is (1) any individual or entity that, acting
individually or in concert with one or more individuals or entities, owns or controls 25 percent or
more of the Prospective Purchaser; or (2) a managing or general partner, or managing member, of the
Prospective Purchaser.
Contractor. A Contractor is any individual or entity that has submitted an offer to the FDIC
to perform services or has a contractual arrangement with the FDIC to perform services.
Delinquent Obligation. A Delinquent Obligation is any debt or duty to pay money to the
FDIC in excess of $50,000 (in the aggregate for all such debts or duties) that is more than sixty (60)
days delinquent, or any other failure to comply with the terms and conditions of a written agreement
with the FDIC that continues for more than sixty (60) days following notice. A Delinquent
Obligation does not include any debt that has been settled, nor any debt that has been sold or
transferred by the FDIC, nor any debt for which the FDIC has reported forgiveness of debt through
the issuance of an IRS form 1099, nor any debt discharged in bankruptcy.
Failed Institution. A Failed Institution is any bank or savings association that has been
under the conservatorship or receivership of the FDIC or of the Resolution Trust Corporation. It
includes any entity owned and controlled by such a bank or savings association.
FDIC. FDIC means the Federal Deposit Insurance Corporation, whether acting in its
FDIC 7300/06 (3-16) Page 2 Pre-Qualification for Other Financial Asset Sales
OMB Number: 3064-0135
Expiration Date: 10/31/2018
corporate capacity or as conservator or receiver of a Failed Institution.
Prospective Purchaser. A Prospective Purchaser is any individual or entity that has made or
intends to make an offer to purchase assets of a Failed Institution from the FDIC. For all purposes of
this Certification, an “entity” includes any entity with a legally independent existence, including,
without limitation, a trustee; the beneficiary of at least a 25% share of the proceeds of a trust; a
partnership; a limited liability company; a corporation; an association; or any other organization or
society.
Substantial Loss. A Substantial Loss is (i) any debt or duty to pay money to the FDIC or a
Failed Institution that has an outstanding balance of more than $50,000 and that is more than ninety
(90) days past due; (ii) an unpaid final judgment of more than $50,000 regardless of whether it is
forgiven in a bankruptcy proceeding; (iii) a deficiency balance following a foreclosure sale of more
than $50,000 regardless of whether it is discharged in a bankruptcy proceeding; or (iv) any loss of
more than $50,000 reported on an IRS Form 1099-C (Information Reporting for Cancellation of
Debt).
ELIGIBILITY CERTIFICATION
The undersigned hereby certifies that all of the following statements are true, correct and
complete when made and will be true at closing of the sale:
A. FDIC Employees. The Prospective Purchaser is not an FDIC employee, the spouse of an
FDIC employee, or the minor child of an FDIC employee.
B. Delinquent Obligors. Neither the Prospective Purchaser nor any of its Affiliated Business
Entities has a Delinquent Obligation. Under certain circumstances, the certification required
in this paragraph may be waived by the FDIC. For more information about the waiver
process and criteria, contact the FDIC sales representative. Note: If the sale is for FDIC real
estate owned or items such as furniture, fixtures or equipment, artwork, automobiles or other
tangible items, and the prospective purchaser will bid less than $250,000 (per item or per
pool), then the certification set forth in this paragraph B is not required.
C. FDIC Contractors. Neither the Prospective Purchaser nor any of its Affiliated Business
Entities is a Contractor that has performed services within three years preceding the date of
this certification relating to any of the assets that the Prospective Purchaser might buy, unless
the contract for services allows for the purchase of such assets. Under certain circumstances,
the certification required in this paragraph may be waived by the FDIC. For more
information about the waiver process and criteria contact the FDIC sales representative.
D. Officers or Directors of Failed Institutions. Neither the Prospective Purchaser nor any of
its Associated Persons has ever been an officer or director of a Failed Institution or of an
affiliate of a Failed Institution who (1) has participated in a material way in one or more
transactions that caused a Substantial Loss to any such Failed Institution; and (2) in
connection with such Substantial Loss has been found by a court or administrative tribunal,
or alleged in a judicial or administrative action brought by the FDIC or any federal or state
governmental entity to have (i) violated any law, regulation or order issued by a federal or
FDIC 7300/06 (3-16) Page 3 Pre-Qualification for Other Financial Asset Sales
OMB Number: 3064-0135
Expiration Date: 10/31/2018
state banking agency; (ii) breached a written agreement with a federal or state banking
agency or with a Failed Institution; (iii) engaged in an unsafe or unsound practice in
conducting the affairs of a Failed Institution; or (iv) breached a fiduciary duty owed to a
Failed Institution.
E. Debarment from Participation in the Affairs of a Failed Institution. Neither the
Prospective Purchaser nor any of its Associated Person(s) has been removed from, or
prohibited from participating in the affairs of a Failed Institution by a final enforcement
action by the FDIC or any other federal banking agency (as defined under 12 U.S.C. §
1813(z)).
F. Pattern or Practice of Defalcation. Neither the Prospective Purchaser nor any of its
Associated Person(s) has borrowed money or guaranteed loans in more than one transaction
with the intent to cause a loss or with reckless disregard for whether such transactions would
cause a loss to any financial institution insured by the FDIC, where these loans, in the
aggregate, caused a Substantial Loss to one or more Failed Institutions.
G. Convicted of Certain Crimes. Neither the Prospective Purchaser nor any of its Associated
Person(s) (1) has been convicted of committing or conspiring to commit any offense under
Section 215, 656, 657, 1005, 1006, 1007, 1008, 1014, 1032, 1341, 1343 or 1344 of Title 18
of the United States Code affecting any Failed Institution; and (2) has defaulted on any debt
or duty to pay money (including any guaranty) owed to the FDIC or any Failed Institution to
such an extent that a judgment has been rendered in favor of the FDIC or the property
securing the debt has been foreclosed on.
H. If Seller Financing Is Used. Neither the Prospective Purchaser nor any of its Associated
Persons (1) has defaulted on any debts or duties to pay money (including any guaranty) to the
FDIC or a Failed Institution that, in the aggregate, exceed $1,000,000, to such an extent that a
judgment has been rendered in favor of the FDIC or a Failed institution or the property
securing the debt has been foreclosed on; and (2) has made any fraudulent misrepresentations
in connection with any of these debts or duties. This representation is not required, and has
no effect, if the Prospective Purchaser does not finance any portion of the purchase price
through financing offered by the FDIC.
I.
Transactions Structured to Circumvent this Certification. Neither the identity nor form of
the Prospective Purchaser, nor any aspect of the contemplated transaction, has been created
or altered with the intent, in whole or in part, to allow an individual or entity who otherwise
would be ineligible to purchase assets from the FDIC to benefit directly or indirectly from the
proposed transaction.
FDIC 7300/06 (3-16) Page 4 Pre-Qualification for Other Financial Asset Sales
OMB Number: 3064-0135
Expiration Date: 10/31/2018
PROSPECTIVE PURCHASER INFORMATION
Name of Prospective Purchaser
____ Individual ____ Corporation ____ Trust
____ Partnership ____ Limited Liability Company ____ Other (Specify below)
Physical Street Address (For Overnight Delivery)
City
State or Province
Country
Postal Code
Contact Person and Title
Telephone Number
Fax Number
IN WITNESS WHEREOF, the undersigned declares under penalty of perjury under the laws
of the United States of America that the foregoing is true and correct, and has executed this
Certification as of this______________________ day of ___________, ______________ .
PROSPECTIVE PURCHASER
_____________________________ [Print Name of Prospective Purchaser]
_____________________________ [Signature]
_____________________________ [Print Name and Title of Authorized Signatory]
Notice Concerning Legal Action
Any person who knowingly or willfully makes false or fraudulent statements or disclosures in
connection with this Certification will be referred to the Office of Inspector General and/or the
appropriate law enforcement officials for investigation and legal enforcement and may be subject
to fines and/or imprisonment (18 U.S.C. §§ 1001, 1007 and 1014).
FDIC 7300/06 (3-16) Page 5 Pre-Qualification for Other Financial Asset Sales
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Completed 2 March 2020

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