Common use of Application to join the Scheme Clause in Contracts

Application to join the Scheme. 3.1 An Eligible Institution may apply in writing to the Guarantor for a Participating Institution Certificate: (a) within sixty (60) days of the Commencement Date if it is a Covered Institution; or (b) at any time prior to or during the Issuance Period if it is not a Covered Institution. 3.2 An application for a Participating Institution Certificate shall include the following: (a) a duly completed application in the form set out in Annex 1; (b) two originals of an Eligible Liabilities Guarantee Scheme Agreement executed by the applicant Eligible Institution; (c) a legal opinion from external legal advisors in form and substance satisfactory to the Guarantor in respect of the execution of such Eligible Liabilities Guarantee Scheme Agreement; and (d) evidence satisfactory to the Guarantor of the authority of the signatories of the application. 3.3 The Guarantor may request such further information as it considers necessary for the purpose of reviewing an application. 3.4 Upon the approval of an application by the Guarantor, the Guarantor shall instruct the Scheme Operator to issue a Participating Institution Certificate to the relevant Eligible Institution substantially in the form of Annex 2 after which, subject to the terms of the Scheme, it will be a Participating Institution.