Common use of Off-Balance Sheet Financing Clause in Contracts

Off-Balance Sheet Financing. None of Holdings or any of its Material Subsidiaries shall engage in any off-balance sheet transaction (i.e., the liabilities in respect of which do not appear on the liability side of the balance sheet) providing the functional equivalent of material Indebtedness or otherwise providing for a material liability of Holdings or any of its Material Subsidiaries (collectively, “Off-Balance Sheet Transactions”), except the Contingent Capital Facility and such other Off-Balance Sheet Transactions as are fully disclosed to the Banks and Agent prior to their creation.

Off-Balance Sheet Financing. None of Holdings the Company or any of its Material Subsidiaries shall engage in any off-balance sheet transaction (i.e., the liabilities in respect of which do not appear on the liability side of the balance sheet) providing the functional equivalent of material Indebtedness or otherwise providing for a material liability of Holdings the Company or any of its Material Subsidiaries (collectively, “"Off-Balance Sheet Transactions”"), except the Contingent Capital Facility and such other Off-Balance Sheet Transactions as are fully disclosed to the Banks and Agent prior to their creation.

Off-Balance Sheet Financing. None of Holdings or any of its Material Subsidiaries shall engage in any off-balance sheet transaction (i.e., the liabilities in respect of which do not appear on the liability side of the balance sheet) providing the functional equivalent of material Indebtedness or otherwise providing for a material liability of Holdings or any of its Material Subsidiaries (collectively, “Off-Balance Sheet Transactions”), except the Contingent Capital Facility and such other Off-Balance Sheet Transactions as are re fully disclosed to the Banks and Agent prior to their creation.

Off-Balance Sheet Financing. None of Holdings or Neither any Applicant nor any of its their Material Subsidiaries shall engage in any off-balance sheet transaction (i.e., the liabilities in respect of which do not appear on the liability side of the balance sheet) providing the functional equivalent of material Indebtedness or otherwise providing for a material liability of Holdings such Applicant or any of its Holdings’ Material Subsidiaries (collectively, “Off-Balance Sheet Transactions”), except the Contingent Capital Facility and such other Off-Balance Sheet Transactions as are fully disclosed to the Banks and Agent Bank prior to their creation.