20 Non-Bank Rule definition

20 Non-Bank Rule means the rule that the aggregate number of creditors (including the Lenders), other than Qualifying Banks, of a Swiss Borrower under all its outstanding debts relevant for classification as debenture (Kassenobligation) must not at any time exceed twenty (20), all in accordance with the meaning of the Guidelines or legislation or explanatory notes addressing the same issues that are in force at such time;
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20 Non-Bank Rule means the rule that the aggregate number of creditors (including the Purchasers), other than Qualifying Banks, of the Company under all its outstanding debts relevant for classification as debenture (Kassenobligation) (including debt arising under any Notes issued pursuant to this Agreement) must not at any time exceed twenty (20), all in accordance with the meaning of the Guidelines or legislation or explanatory notes addressing the same issues that are in force at such time.
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20 Non-Bank Rule means the rule that the aggregate number of creditors (including the Lenders), other than Qualifying Banks, of a Swiss Borrower under all its outstanding debts relevant for classification as debenture (Kassenobligation) must not at any time exceed twenty (20), all in accordance with the meaning of the Guidelines or legislation or explanatory notes addressing the same issues that are in force at such time.
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Examples of 20 Non-Bank Rule in a sentence

  • For the purpose of its compliance with the 20 Non-Bank Rule under this Clause 25.4, 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).

  • 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.

  • For the purpose of its compliance with the 20 Non-Bank Rule under this Section 5.8, the number of Lenders under this Agreement which are not Qualifying Banks shall be deemed to be ten (10) (irrespective of whether or not there are, at any time, any such Lenders).

  • 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 Section 5.18, 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).

  • 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).

  • 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).


More Definitions of 20 Non-Bank Rule

20 Non-Bank Rule means the rule that (without duplication) the aggregate number of lenders (including the Lenders), other than Qualifying Banks, of a Swiss Borrower under all its outstanding debt relevant for classification as debenture (Kassenobligation) (including debt arising under this Agreement and intragroup loans (if and to the extent intragroup loans are not exempt in accordance with the ordinance of the Swiss Federal Council of June 18, 2010 amending the Swiss Federal Ordinance on withholding tax and the Swiss Federal Ordinance on stamp duties with effect as of August 1, 2010)) must not at any time exceed twenty (20), all in accordance with the meaning of the Guidelines
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20 Non-Bank Rule means the rule that (without duplication) the aggregate number of lenders (including the Lender) other than Qualifying Banks, of the Borrower under all its outstanding debts relevant for classification as debenture (Kassenobligatiort) must not at any time exceed twenty (20), if and as long as a violation of this rule results in Swiss Withholding Tax consequences for the Borrower, in each case in accordance with the meaning of the Guidelines or the applicable legislation or explanatory notes addressing the same issues that are in force at such time. "Additional Consideration" has the meaning ascribed to it in section 3 of Schedule 2 (Adjustment mechanics).
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20 Non-Bank Rule means the rule that the aggregate number of the Loan Note Issuer's creditors (including Loan Noteholders), other than Qualifying Banks, under all outstanding debts relevant for classification as debenture (Kassenobligation) must not at any time exceed twenty
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20 Non-Bank Rule means the rule that (without duplication) the aggregate number of creditors (including the Lenders), other than Qualifying Banks, of the Swiss Subsidiary Borrower under all its outstanding debts relevant for classification as debenture (Kassenobligation) (including debt arising under this Agreement and intra-group loans (if and to the extent intra-group loans are not exempt in accordance with the ordinance of the Swiss Federal Council of 18 June 2010 amending the Swiss Federal Ordinance on withholding tax and the Swiss Federal Ordinance on stamp duties with effect as of 1 August 2010), loans, facilities and/or private placements) must not at any time exceed twenty (20), all in accordance with the meaning of the Guidelines or legislation or explanatory notes addressing the same issues that are in force at such time and being understood that the Swiss Subsidiary Borrower shall for the purposes of its compliance with the 20 Non-Bank Rule assume that the aggregate number of Lenders which are not Qualifying Banks is ten. “Acquisition” means any transaction or series of related transactions for the purpose of or resulting, directly or indirectly, in (a) the acquisition of all or substantially all of the assets of a Person, or
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Related to 20 Non-Bank Rule

  • UK Non-Bank Lender means where a Lender becomes a Party after the day on which this Agreement is entered into, a Lender which gives a Tax Confirmation in the Assignment Agreement or Transfer Certificate which it executes on becoming a Party.

  • Central Bank Rules means the UCITS Regulations, Central Bank Regulations and any regulations, guidance and conditions issued by the Central Bank from time to time pursuant to the UCITS Regulations, the Central Bank Regulations and/or the Central Bank Act regarding the regulation of undertakings for collective investment in transferable securities, as such may be amended, supplemented or replaced from time to time;

  • London Banking Day means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market.

  • Local Banking Day means a day (other than a Saturday or Sunday) on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in the place of presentation of the relevant Instrument or, as the case may be, Coupon.

  • New York Banking Day means any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close.

  • Non-Bank Tax Certificate shall have the meaning provided in Section 5.4(e)(ii)(B)(3).

  • ABN AMRO means ABN AMRO Bank N.V.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • Overnight Bank Funding Rate means, for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.

  • Central Bank Rate has the meaning given to that term in the Reference Rate Terms.

  • Account Bank Agreement means the account bank agreement dated 15 August 2018 between the Issuer, the Trustee and The Bank of New York Mellon, London branch as the same may be amended, restated, amended and restated, novated, varied, supplemented, substituted, assigned, extended or otherwise replaced or redesignated from time to time;

  • Mizuho means Mizuho Bank, Ltd.

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • Central Bank Regulations means the Central Bank (Supervision and Enforcement) Act 2013

  • EEA Financial Institution means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • Non-Reporting Financial Institution means any Financial Institution that is:

  • parent institution in a Member State means an institution in a Member State which has a institution or a financial institution as a subsidiary or which holds a participation in such an institution, and which is not itself a subsidiary of another institution authorised in the same Member State, or of a financial holding company or mixed financial holding company set up in the same Member State.

  • Acceptable Bank means (a) a bank or financial institution which has a rating for its long-term unsecured and non credit-enhanced debt obligations of A- or higher by S&P or A2 or higher by Xxxxx’x or a comparable rating from an internationally recognized credit rating agency; or (b) any other bank or financial institution approved by each Agent.

  • your financial institution means the financial institution nominated by you on the DDR at which the account is maintained.

  • Federal Reserve Bank of New York’s Website means the website of the Federal Reserve Bank of New York at xxxx://xxx.xxxxxxxxxx.xxx, or any successor source.

  • Banking Day Financial Centre means the Banking Day Financial Centre as specified in § 1 of the Product and Underlying Data.

  • Federal Reserve Bank of New York s Website” means the website of the Federal Reserve Bank of New York at http://www.newyorkfed.org, or any successor source.

  • Reporting Financial Institution means a Reporting Finnish Financial Institution or a Reporting U.S. Financial Institution, as the context requires.

  • Relevant Banking Day means a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in the place where the specified office of the Registrar is located and, in the case only of an exchange of a Bearer Note for a Registered Note where such request for exchange is made to the Principal Paying Agent, in the place where the specified office of the Principal Paying Agent is located;

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.