Common use of Sub-participation arrangements Clause in Contracts

Sub-participation arrangements. No Lender shall enter into sub-participation arrangements in relation to its rights or obligations under the Finance Documents unless: (i) the arrangement is with a Bank; and (ii) the arrangement is based on a sub-participation agreement prohibiting the sub-participant from entering into further sub-participation arrangements and/or assigning or granting any other interest in or over its sub-participation unless this is with or to a Bank; and (iii) the terms of such permitted sub-participation arrangement prohibits the sub-participant from according any further sub-participation and/or assign-ing or granting any other interest except with and to a Bank and imposing on such Bank the same restrictions as aforesaid in respect of any further sub-participations and/or assignments and/or the granting of any other in-terests, with the duty to contractually impose these on any fur-ther/subsequent sub-participants, assignees or grantees; (iv) it is further ensured that the Facility Agent and the Company will be promptly informed of any such arrangement and of the name of the sub-participant, assignee or grantee and, upon request from the Facility Agent or the Company, informed of any further detail of such arrangement, as the case may be, for direct or indirect disclosure to the Swiss Federal Tax Administration.

Sub-participation arrangements. No Lender shall enter into sub-participation arrangements in relation to its rights or obligations under the Finance Documents unless: (i) the arrangement is with a Bank; and (ii) the arrangement is based on a sub-participation agreement prohibiting the sub-participant from entering into further sub-participation arrangements and/or assigning or granting any other interest in or over its sub-participation unless this is with or to a Bank; and (iii) the terms of such permitted sub-participation arrangement prohibits the sub-participant from according any further sub-participation and/or assign-ing assigning or granting any other interest except with and to a Bank and imposing on such Bank the same restrictions as aforesaid in respect of any further sub-participations and/or assignments and/or the granting of any other in-terestsinterests, with the duty to contractually impose these on any fur-therfurther/subsequent sub-participants, assignees or grantees;; LD857960/50 (iv) it is further ensured that the Company and, only to the extent requested by the Facility Agent, the Facility Agent and the Company will be promptly informed of any such arrangement and of the name of the sub-participant, assignee or grantee and, upon request from the Facility Agent or the Company, informed of any further detail of such arrangement, as the case may be, for direct or indirect disclosure to the Swiss Federal Tax Administration.

Sub-participation arrangements. No Lender shall enter into sub-participation arrangements in relation to its rights or obligations under the Finance Documents unless: (i) the arrangement is with a Bank; and (ii) the arrangement is based on a sub-participation agreement prohibiting the sub-participant from entering into further sub-participation arrangements and/or assigning or granting any other interest in or over its sub-participation unless this is with or to a Bank; and (iii) the terms of such permitted sub-participation arrangement prohibits the sub-participant from according any further sub-participation and/or assign-ing assigning or granting any other interest except with and to a Bank and imposing on such Bank the same restrictions as aforesaid in respect of any further sub-participations and/or assignments and/or the granting of any other in-terestsinterests, with the duty to contractually impose these on any fur-therfurther/subsequent sub-participants, assignees or grantees; (iv) it is further ensured that the Company and, only to the extent requested by the Facility Agent, the Facility Agent and the Company will be promptly informed of any such arrangement and of the name of the sub-participant, assignee or grantee and, upon request from the Facility Agent or the Company, informed of any further detail of such arrangement, as the case may be, for direct or indirect disclosure to the Swiss Federal Tax Administration.