Non-Bank Rules. Each Swiss Borrower shall ensure that it is in compliance with the Non-Bank-Rules, provided that a Swiss Borrower shall not be in breach of this Clause 22.30 if its number of creditors in respect of either the 10 Non-Bank Rule or the 20 Non-Bank Rule is exceeded solely by reason of a failure by one or more of the Lenders to comply with their obligations under Clause 16.5 (Lender Status Confirmation) or Clause 27 (Changes to the Lenders). For the purpose of its compliance with the 20 Non-Bank Rule under this Clause 22.30, the number of Lenders under this Agreement which are not Qualifying Banks shall be deemed to be ten (irrespective of whether or not there are, at any time, any such Lenders).
Appears in 4 contracts
Sources: Revolving Facility Agreement (Nord Anglia Education, Inc.), Amendment and Restatement Agreement (Nord Anglia Education, Inc.), Revolving Facility Agreement (Nord Anglia Education, Inc.)
Non-Bank Rules. Each Swiss Borrower shall ensure at any time that it is in compliance with the Non-Bank-Rules, provided that a Swiss Borrower shall not be in breach of this Clause 22.30 25.4 if its number of creditors in respect of either the 10 Non-Bank Rule or the 20 Non-Bank Rule is exceeded solely by reason of a failure by one or more of the Lenders to comply with their obligations under Clause 16.5 (Lender Status Confirmation) or Clause 27 (Changes to the Lenders). For the purpose of its compliance with the 20 Non-Bank Rule under this Clause 22.3025.4, the number of Lenders under this Agreement which are not Qualifying Banks shall be deemed to be ten (irrespective of whether or not there are, at any time, any such Lenders).
Appears in 4 contracts
Sources: Revolving Facility Agreement (Nord Anglia Education, Inc.), Amendment and Restatement Agreement (Nord Anglia Education, Inc.), Revolving Facility Agreement (Nord Anglia Education, Inc.)
Non-Bank Rules. Each Swiss Borrower shall ensure at any time that it is in compliance with the Non-Bank-Rules, provided that a Swiss Borrower shall not be in breach of this Clause 22.30 25.4 if its number of creditors in respect of either the 10 Non-Bank Rule or the 20 Non-Bank Rule is exceeded solely by reason of a failure by one or more of the Lenders to comply with their obligations under Clause 16.5 16.2 (Lender Status ConfirmationTax gross-up) or Clause 27 (Changes to the Lenders). For the purpose of its compliance with the 20 Non-Bank Rule under this Clause 22.3025.4, the number of Lenders under this Agreement which are not Qualifying Banks shall be deemed to be ten (irrespective of whether or not there are, at any time, any such Lenders).
Appears in 2 contracts
Sources: Senior Revolving Facility Agreement (Nord Anglia Education, Inc.), Senior Revolving Facility Agreement (Nord Anglia Education, Inc.)
Non-Bank Rules. Each Swiss Borrower shall ensure that it is in compliance with the Non-Bank-Rules, provided that a Swiss Borrower shall not be in breach of this Clause 22.30 22.29 if its number of creditors in respect of either the 10 Non-Bank Rule or the 20 Non-Bank Rule is exceeded solely by reason of a failure by one or more of the Lenders to comply with their obligations under Clause 16.5 16.2 (Lender Status ConfirmationTax gross-up) or Clause 27 (Changes to the Lenders). For the purpose of its compliance with the 20 Non-Bank Rule under this Clause 22.3022.29, the number of Lenders under this Agreement which are not Qualifying Banks shall be deemed to be ten (irrespective of whether or not there are, at any time, any such Lenders).
Appears in 2 contracts
Sources: Senior Revolving Facility Agreement (Nord Anglia Education, Inc.), Senior Revolving Facility Agreement (Nord Anglia Education, Inc.)