Common use of Foreign Borrower Clause in Contracts

Foreign Borrower. SWM Philippines is subject to civil and commercial laws with respect to its obligations under this Agreement and the other Loan Documents to which it is a party (collectively, the “ Foreign Borrower Documents ”), and the execution, delivery and performance by SWM Philippines of the Foreign Borrower Documents constitutes and will constitute private and commercial acts and not public or governmental acts. Neither SWM Philippines nor any of its property has any immunity from jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) under the laws of the jurisdiction in which SWM Philippines is organized and existing in respect of its obligations under the Foreign Borrower Documents.

Foreign Borrower. SWM Philippines is subject to civil and commercial laws with respect to its obligations under this Agreement and the other Loan Documents to which it is a party (collectively, the “ “Foreign Borrower Documents Documents”), and the execution, delivery and performance by SWM Philippines of the Foreign Borrower Documents constitutes and will constitute private and commercial acts and not public or governmental acts. Neither SWM Philippines nor any of its property has any immunity from jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) under the laws of the jurisdiction in which SWM Philippines is organized and existing in respect of its obligations under the Foreign Borrower Documents.