Definition of 20-Non-Qualifying Bank Creditor Rule


20-Non-Qualifying Bank Creditor Rule means the rule that the aggregate number of creditors (including the Lenders and the Participants), other than Qualifying Bank Creditors and related entities (provided that, the annual accounts of such related entities are fully consolidated at the level of the group as per recognized accounting standards) of a Swiss Guarantor, under all outstanding debts relevant for classification by the Swiss Federal Tax Administration as debenture (Kassenobligation), such as facilities and/or private placements (including with respect to the proceeds of the Loans that are on-lent to such Swiss Guarantor from time to time) must not at any time exceed twenty (20).
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