Sentence:  In a similar way, we may interpret the evolution from lexical code-switching to borrowing as a change in the interpretation of the status of the lexical form in the sense that it is considered an <WSD>orthonym</WSD> not only in bilingual settings ('the right word comes from the other language and therefore I code-switch'), but also in monolingual ones ('there is a proper word in another language and therefore I propose to introduce it as a "guest word" in the respective monolingual lexicon'). In other terms, a "foreign" element can be a borrowing from its very first occurrence if it is intended and interactively accepted as the <WSD>orthonym</WSD> in a monolingual setting. 
Meaning of the word marked with <WSD> tags:  (linguistics) The correct word for a concept in a specified language.