Centre of Main Interest; Contractual Relationship Clause Samples

Centre of Main Interest; Contractual Relationship. (a) For the purposes of the Council of the European Union Regulation No. 1346/2000 on Insolvency Proceedings, as amended, each Borrower’s “centre of main interests” (as such term is used in Article 3(l) therein) is situated in its jurisdiction of organization, and no Borrower has any “establishment” (as such term is used in Article 2(h) therein) in any other jurisdiction. (b) The contractual relationship governing the Specified German Collection Deposit Account is subject to German law.