NFC Status Representation. Party B represents to Party A on each date and at each time on which it enters a Transaction (which representation shall be, unless Party B notifies Party A to the contrary in writing, deemed to repeated by Party B at all times while such Transaction remains outstanding) that: (i) it is a non-financial counterparty (as such term is defined in EMIR); and (ii) it is not subject to a clearing obligation pursuant to article 10 of EMIR.
Appears in 3 contracts
Samples: Basis Rate Swap Agreement, Basis Rate Swap Agreement (Fixed and Tracker), Basis Rate Swap Agreement
NFC Status Representation. Party B represents to Party A on each date and at each time on which it enters a Transaction (which representation shall be, unless Party B notifies Party A to the contrary in writing, deemed to repeated by Party B at all times while such Transaction remains outstanding) that:
(i) it is a non-financial counterparty (as such term is defined in EMIR); and
(ii) it is not subject to a clearing obligation pursuant to article 10 of EMIR. Party B will notify Party A if at any time it becomes subject to a clearing obligation pursuant to EMIR.
Appears in 2 contracts
