Swiss Qualifying Bank Clause Samples
The Swiss Qualifying Bank clause defines the criteria that a financial institution must meet to be recognized as a 'Swiss Qualifying Bank' under the agreement. Typically, this involves the bank being licensed and regulated in Switzerland and meeting certain standards of creditworthiness or regulatory oversight. For example, the clause may specify that only banks with a particular regulatory status or those subject to Swiss banking supervision qualify. The core function of this clause is to ensure that only reputable and properly regulated Swiss banks are eligible for certain roles or transactions, thereby managing counterparty risk and maintaining compliance with Swiss financial regulations.
Swiss Qualifying Bank. Each Lender confirms that it is a Swiss Qualifying Bank or, if not, a single person only for the purpose of the Swiss Non-Bank Rules and any other Person that shall become a Lender or a Participant pursuant to Section 9.04 of this Agreement shall be deemed to have confirmed that it is a Swiss Qualifying Bank or, if not, a single person only for the purpose of the Swiss Non-Bank Rules.
Swiss Qualifying Bank. Each Lender executing a signature page to this Agreement confirms that on the date of this Agreement (i) it is a Swiss Qualifying Bank or (ii) if not, (A) it is a single person only for the purpose of the Swiss Non-Bank Rules and (B) it has provided or has caused to be provided to the Administrative Borrower and the Agent prior notice that it is not a Swiss Qualifying Bank. Any other Person that shall become a Lender after the date of this Agreement or a Participant shall be deemed to have confirmed that (x)it is a Swiss Qualifying Bank or (y) if not, a single person only for the purpose of the Swiss Non-Bank Rules and it has provided or has caused to be provided to the Administrative Borrower and the Agent written notice that it is not a Swiss Qualifying Bank prior to becoming a Lender (in the applicable Assignment and Acceptance) or a Participant, as applicable.