Citibank Affiliate definition
Examples of Citibank Affiliate in a sentence
After a Citibank Affiliate has become subject to an Insolvency Proceeding, if Counterparty seeks to exercise any Default Right with respect to the Agreement or this Confirmation, Counterparty shall have the burden of proof, by clear and convincing evidence, that the exercise of such Default Right is permitted hereunder.
Notwithstanding any provision of the Agreement to the contrary, Seller shall be entitled to assign its rights and obligations hereunder to make or receive cash payments and transfer of Shares and other related rights to one or more entities that are wholly-owned, directly or indirectly, by Citigroup Inc., or any successor thereto (each, a “Citibank Affiliate”); provided that Buyer shall have recourse to Seller in the event of the failure by a Citibank Affiliate to perform any of such obligations hereunder.
Citibank Affiliate shall be responsible at its sole expense for acquiring any governmental permits, licenses or approvals required to import the Licensed Modules to the Designated Site and use the Licensed Modules in the Designated Countries.
The Client authorizes and directs the opening of and the holding of all or any part of the Property in such further accounts forming part of the Custody Account and the Client Deposit Account, as the case may be, with each Citibank Affiliate as selected by the Client in Exhibit A hereof.
In any case where Custodian is a Citibank Affiliate, Client shall execute such further documents and provide such materials and information as may be reasonably requested by such Citibank Affiliate to facilitate the opening and maintenance of the Custody Account and Client Deposit Account with such Citibank Affiliate.
Except as otherwise provided herein, all notices and other communications, to be given by under this Agreement, shall be in writing in the English language and shall be made either by telex or facsimile, or by letter addressed to the party concerned at the addresses set out above or, in the case of a Citibank Affiliate, in Exhibit A hereto (or at such other addresses as may be notified in writing by one party to any other party from time to time).
Citibank Affiliate will pay the Maintenance Fees in accordance with the same schedule for payment of the License Fees.
Notwithstanding Sections 7 or 10(b) of the Agreement, Citibank shall assign its rights and obligations hereunder to make or receive cash payments and transfer of Common Shares to a Citibank Affiliate (one or more affiliates of Citibank, wholly-owned, directly or indirectly, by Citigroup Inc., or any successor thereto); provided that Counterparty shall have recourse to Citibank in the event of the failure by a Citibank Affiliate to perform any of such obligations hereunder.
The Client understands and agrees that obligations and duties hereunder of any Citibank Affiliate selected by the Client shall be performed only by such selected Citibank Affiliate, and shall not be deemed obligations or duties of any other member of the Citibank Organization.
Notwithstanding any provision of the Agreement to the contrary, Buyer shall be entitled to assign its rights and obligations hereunder to make or receive cash payments and transfer of Shares and other related rights to one or more entities that are wholly-owned, directly or indirectly, by Citigroup Inc., or any successor thereto (each, a “Citibank Affiliate”); provided that Seller shall have recourse to Buyer in the event of the failure by a Citibank Affiliate to perform any of such obligations hereunder.