Common use of Non-Bank Rules Clause in Contracts

Non-Bank Rules. Comply with the Non-Bank Rules, provided that Borrower shall not be in breach of this undertaking if the number of creditors of the Parent in respect of either the 10 Non-Bank Rule or the 20 Non-Bank Rule is exceeded solely because a Lender having (a) made an incorrect declaration of its status as to whether or not it is a Qualifying Bank or (b) ceased to be a Qualifying Bank other than as a result of any Change in Law after the date it became a Lender under this Agreement (for the avoidance of doubt, Borrower acknowledges and agrees that Oxford is not a Qualifying Bank). For the purpose of determining compliance by Borrower with the 20 Non-Bank Rule under this Section 6.14, the number of Lenders under this Agreement which are not Qualifying Banks shall be deemed to be ten (irrespective of whether or not there are, at any time, any such Lenders) and Borrower assumes that the Lenders have complied with the assignment provisions in Section 12.1.

Non-Bank Rules. Comply Borrower represents and warrants that Parent is in compliance with the Non-Bank Rules, provided that Borrower the Parent shall not be in breach of this undertaking representation if the its number of creditors of the Parent in respect of either the 10 Non-Bank Rule or the 20 Non-Bank Rule is exceeded solely because a Lender having (a) made an incorrect declaration of its status as to whether or not it is a Qualifying Bank Bank, or (b) ceased to be a Qualifying Bank other than as a result of any Change in Law after the date it became a Lender under this Agreement (for the avoidance of doubt, Borrower acknowledges and agrees that Oxford is not a Qualifying Bank). For the purpose of determining Borrower making the representation in this Section 5.13 regarding Parent’s compliance by Borrower with the 20 Non-Bank Rule under this Section 6.14Rule, the number of Lenders under this Agreement which are not Qualifying Banks shall be deemed to be ten (irrespective of whether or not there are, at any time, any such Lenders) and Borrower assumes that the Lenders have complied with the assignment provisions in Section 12.1.