Qualification Status Clause Samples
The Qualification Status clause defines the criteria or conditions that a party must meet to be considered eligible or qualified under the agreement. Typically, this clause outlines specific requirements such as certifications, licenses, experience, or compliance with certain standards that must be maintained throughout the contract term. By clearly establishing these prerequisites, the clause ensures that only parties meeting the necessary qualifications can participate, thereby reducing the risk of non-performance or disputes over eligibility.
Qualification Status. Upon the delivery of a notice by the applicable Funding Agent of a request by Prologis to add an Eligible Affiliate as a Borrower or to add an existing Borrower to an Additional Tranche pursuant to Section 6.11.1 or 6.11.2, as applicable, the applicable Funding Agent shall request that each Applicable Tranche Lender represent and warrant to Prologis and Funding Agent as to whether such Applicable Tranche Lender is capable of making a Committed Loan to such Eligible Affiliate without the imposition of any withholding taxes. Each Lender agrees that it shall respond to any such request within three Business Days; provided that if an Applicable Tranche Lender does not respond within the required time period, then the applicable Funding Agent may deem such Applicable Tranche Lender to be unable to make a Committed Loan to such Eligible Affiliate without the imposition of a withholding tax. Furthermore, Global Administrative Agent may revise Annex 2 to the Assignment and Assumption reflecting a new Borrower or the addition of a Borrower to an Additional Tranche.
Qualification Status. Upon the delivery of a notice by Administrative Agent of a request by Prologis to add an Eligible Affiliate as a Borrower or to add an existing Borrower to an Additional Tranche pursuant to Section 6.12.1 or 6.12.2, as applicable, Administrative Agent shall request that each Applicable Tranche Lender represent and warrant to Prologis and Administrative Agent as to whether such Applicable Tranche Lender is capable of making a Loan to such Eligible Affiliate without the imposition of any withholding taxes. Each Lender agrees that it shall respond to any such request within three Business Days; provided that if an Applicable Tranche Lender does not respond within the required time period, then Administrative Agent may deem such Applicable Tranche Lender to be unable to make a Loan to such Eligible Affiliate without the imposition of a withholding tax. Furthermore, Administrative Agent may revise Annex 2 to the Assignment and Assumption reflecting a new Borrower or the addition of a Borrower to an Additional Tranche.
Qualification Status. Upon the delivery of a notice by Administrative Agent of a request by Prologis to add an Eligible Affiliate as a Foreign Borrower pursuant to Section 3.11.1, Administrative Agent shall request that each Lender represent and warrant to Prologis and Administrative Agent as to whether such Lender is capable of making Loans to such Eligible Affiliate without the imposition of any withholding taxes. Each Lender agrees that it shall respond to any such request within three Business Days; provided that if a Lender does not respond within the required time period, then Administrative Agent may deem such Lender to be unable to make Loans to such Eligible Affiliate without the imposition of a withholding tax (and therefore to be a Non-Qualified Lender with respect to Loans to such Eligible Affiliate).
Qualification Status. Upon Logitech’s review of the information gathered, Logitech shall determine status of Supplier. Logitech may elect to assign Conditional Approval to Supplier on a short-term basis in cases where deficiencies are noted in the Supplier’s systems. In cases where Conditional Approval is assigned, an improvement plan shall be mutually agreed upon by both Logitech and Supplier. Only upon follow through by Supplier with the improvement plan and an acceptable rating from Logitech during a follow-up review shall Supplier be granted Fully-Approved status. Once Supplier has achieved Fully-Approved status, periodic follow-up surveys shall be performed by Logitech to ensure Supplier is meeting goals and improvements and Fully-Approved status of Supplier is still justified.
Qualification Status. Assisting Party agrees to provide certain information to the Company to enable the Company’s officers to determine whether, under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and the regulations promulgated thereunder, Assisting Party meets the qualification and suitability requirements for an investment in the Series A Preferred. Assisting Party acknowledges and agrees that: (i) the Company will rely upon the information contained in the documents provided by Assisting Party for purposes of such determination, including, without limitation, the Qualification Questionnaire included as Exhibit A hereto; (ii) the Series A Preferred will not be registered under the Act in reliance upon the exemption from registration provided by Section 4(a)(2) of the Act; and (iii) purchase of the Series A Preferred will be solely for the account of the Assisting Party, and not for the account of any other person or with a view toward resale, assignment, fractionalization or distribution thereof.
Qualification Status