Common use of Qualifying Bank Clause in Contracts

Qualifying Bank. Each Bank that becomes a party to this Agreement on a date occurring 30 days or more after the date of this Agreement confirms to each of the Obligors that as at the date it becomes a party to this Agreement it is a Qualifying Bank and agrees to notify the Obligors' Agent (through the Facility Agent) promptly if it becomes aware that it is not a Qualifying Bank.

Qualifying Bank. Each Bank that becomes a party to this Agreement on a date occurring 30 days or more after the date of this Agreement 12 May 1998 confirms to each of the Obligors that as at the date it becomes a party to this Agreement it is a Qualifying Bank and agrees to notify the Obligors' Agent (through the Facility Agent) promptly if it becomes aware that it is not a Qualifying Bank.