Examples of 10 Non-Bank Rule in a sentence
Any consent required under this Section 12.3.2 shall not be unreasonably withheld or delayed, whereas consent shall not be deemed to have been unreasonably withheld if such transfer would result in a violation of the 10 Non-Bank Rule.
Furthermore, Swiss withholding tax would also be triggered if the Swiss borrower would have an aggregate of more than 20 non-bank lenders (the 20 Non-Bank Rule and, together with the 10 Non-Bank Rule, the Swiss Non-Bank Rules).
Each Swiss Borrower represents and warrants that it is in compliance with the Non-Bank Rules; provided that a Swiss Borrower shall not be in breach of this representation 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 Lenders to comply with its obligations under Section 12 or having lost its status as Qualifying Bank.
These Bylaws may be amended, altered, changed, adopted and repealed or new bylaws adopted by the Board or by the stockholders as expressly provided in the Certificate of Incorporation.
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).
Syndicated facilities agreements qualify as collective fundraising, if there are more than “10 non-bank lenders” in the syndicate (the 10 Non-Bank Rule).
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 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).
Each Swiss Borrower is in compliance with the Non-Bank-Rules, provided that a Swiss Borrower shall not be in breach of this representation and warranty 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 Lenders to comply with their obligations under Clause 16.5 (Lender Status Confirmation) or Clause 27 (Changes to the Lenders).
Custody RiskIn order to ensure there are sufficient securities to satisfy customer rights, all securities holdings maintained by LuxCSD on behalf of its customers are reconciled with the appointed LPAs and linked CSDs on a daily basis.
The Swiss Borrower shall ensure that it is in compliance with the Non-Bank Rules, provided that the Swiss Borrower shall not be in breach of this undertaking if its number of creditors in respect of either the 10 Non-Bank Rule or the 20 Non-Bank Rule is exceeded solely because a Lender having (a) made an incorrect declaration of its status as to whether or not it is a Qualifying Bank or (b) ceased to be a Qualifying Bank other than as a result of any Change in Law after the date it became a Lender.