Supported QFC Sample Clauses
The Supported QFC clause defines which Qualified Financial Contracts (QFCs) are covered under the agreement and subject to its terms. In practice, this clause identifies specific financial instruments—such as derivatives, swaps, or repurchase agreements—that fall within the scope of regulatory requirements or contractual provisions. By clearly specifying the applicable QFCs, the clause ensures compliance with relevant regulations and provides certainty to both parties about which transactions are governed by the agreement, thereby reducing ambiguity and legal risk.
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Supported QFC. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for any other agreement or instrument that is a "qualified financial contract" (as defined and interpreted pursuant to 12 U.S.C. 5390(c)(8)(D), a "QFC" with any such support being a "QFC Credit Support" and each such QFC being a "Supported QFC") and a Covered Person that is party to a Supported QFC (each a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such
Supported QFC. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for any other agreement or instrument that is a “qualified financial contract” (as defined and interpreted pursuant to 12 U.S.C. 5390(c)(8)(D), a “QFC” with any such support being a “QFC Credit Support” and each such QFC being a “Supported QFC”) and a Covered Person that is party to a Supported QFC (each a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under a U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States notwithstanding any governing law provisions to the contrary set forth elsewhere in the Loan Documents. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, any Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support. As used herein, the following terms have the following meanings: (a) “BHC Act Affiliate” means an “affiliate”(as such term is defined and 97 Five Point Operating Company, LP
Supported QFC. See §35.
Supported QFC. The following provisions are hereby added to and inserted into the Credit Agreement as new Section 10.21 after Section 10.20 thereof: