Common use of Representation by Lender Clause in Contracts

Representation by Lender. Each Lender represents and warrants in favor of the Administrative Agent that either: (a) it is not resident for tax purposes in the United Kingdom and is beneficially entitled to receive its portion of any Advance and the interest thereon; or (b) it is a bank as defined for the purposes of Section 840A of the Income and Corporation Taxes Act 1988 and is beneficially entitled to receive its portion of any Advance and the interest thereon, and each Lender agrees in favor of the Administrative Agent to notify the Agent if there is any change in its position from that set out above.