Qualifying Institution Sample Clauses
The 'Qualifying Institution' clause defines the specific criteria an institution must meet to be recognized or accepted for a particular purpose under the agreement. Typically, this clause outlines requirements such as regulatory status, financial standing, or accreditation that an institution must possess to participate in certain transactions or fulfill certain roles. For example, it may specify that only banks licensed in certain jurisdictions or with a minimum credit rating qualify. The core function of this clause is to ensure that only reputable and reliable institutions are involved, thereby reducing risk and maintaining the integrity of the contractual arrangement.
Qualifying Institution. Owner Participant shall be a Qualifying Institution (as defined in Section 8.2(a)(ii)) as of the Delivery Date.
Qualifying Institution. In the event that the Issuing Entity Account Bank ceases to be a Qualifying Institution, the Issuing Entity Account Bank shall immediately give notice of that fact to the Note Trustee and the Issuing Entity. As soon as practicable thereafter and in any event within 30 days of such notice, the Issuing Entity Account Bank shall transfer the closing credit balance of each Series Issuing Entity Distribution Account, together with all interest accrued on such balance up to but not including the date of transfer, to an appropriate successor account with a Qualifying Institution, approved by the Note Trustee.
Qualifying Institution. The Participating Financial Institution warrants and represents that: (a) it is a state-chartered or federally chartered bank, savings bank, building and loan association, savings and loan association, or credit union, or a subsidiary of such a bank, association, or credit union; and (b) that it is in good standing with applicable regulatory authorities and not in receivership.
Qualifying Institution. [ - ]57;
Qualifying Institution. Each Purchaser that is not a U.K. Holder, severally represents that it (i) is a Person resident (as such term is defined in the appropriate double taxation treaty) in the United States of America or in another jurisdiction with which the United Kingdom has an appropriate double taxation treaty under which the payment of interest by the Company to that Person may be made without the deduction or withholding of United Kingdom income tax (subject to completion of procedural formalities); and (ii) does not carry on business in the United Kingdom through a permanent establishment with which the indebtedness under the Notes in respect of which the interest or premium is paid is effectively connected (for the avoidance of doubt, this does not include its United Kingdom-incorporated parent company, if any, provided that such parent company is not and does not become the beneficial owner of any interest payments made by the Company on the Notes and any interest payments on the Notes are not paid to or attributable to and do not arise in such parent company).