Common use of Dutch Banking Act Clause in Contracts

Dutch Banking Act. (a) On the Effective Date, UPC Distribution is in compliance with the applicable provisions of the Dutch Banking Act and any implementing regulations; and (b) On the date falling 30 days after the Effective Date, UPC Distribution has verified, by obtaining a duly completed and executed Verification Letter, the status of each Facility A Lender under this Agreement either as: (i) a Professional Market Party; or (ii) exempted from the requirement to be a Professional Market Party because it forms part of a closed circle (besloten xxxxx) with UPC Distribution.

Dutch Banking Act. (a) On the Effective Date, : (a) UPC Distribution is in compliance with the applicable provisions of the Dutch Banking Act and any implementing regulations; and (b) On the date falling 30 days after the Effective Date, UPC Distribution has verified, by obtaining a duly completed and executed Verification Letter, the status of each Facility A person which is a Lender under this Agreement either as: (i) a Professional Market Party; or (ii) exempted from the requirement to be a Professional Market Party because it forms part of a closed circle (besloten xxxxx) with UPC Distribution.