Examples of Swiss Qualifying Bank in a sentence
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Each Lender which becomes a Party to this Agreement after the date of this Agreement shall indicate, in the transfer certificate or Assignment Agreement which it executes on becoming a Party, which of the following categories it falls in (a) not a Swiss Qualifying Bank or (b) a Swiss Qualifying Bank, and, if it is not a Swiss Qualifying Bank, that it only counts as one (1) lender for purposes of determining the number of lenders that are not a Swiss Qualifying Bank.
The payment shall be released only on monthly reimbursement basis after the final bill is submitted by the contractor.
If a Lender fails to specify its status at set forth above then such Lender shall be treated for the purposes of this Agreement as if such Lender is not a Swiss Qualifying Bank until such time as it notifies the Swiss Borrower which category applies.
This representation shall not be deemed to be breached if the Swiss 20 Non-Bank-Rule is breached as a result solely of: (a) any non-compliance by a Lender with the provisions of Clause 14 (Assignment) and Clause 15 (Conditions of Assignment or Transfer); (b) a Lender incorrectly confirms that it is a Swiss Qualifying Bank; or (c) any assignments or transfers to Swiss Non-Qualifying Banks after the occurrence of an Event of Default.