Swiss Borrowing Subsidiary definition

Swiss Borrowing Subsidiary means any Borrowing Subsidiary that is a Swiss Subsidiary.
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Examples of Swiss Borrowing Subsidiary in a sentence

  • For purposes of compliance with the Swiss Withholding Tax Rules, each Swiss Borrowing Subsidiary shall assume for the purposes of determining the total number of creditors which are Non-Qualifying Banks that at all times there are ten Lenders that are Non-Qualifying Banks.

  • Notwithstanding the foregoing, with respect to Swiss Withholding Tax only, no Swiss Borrowing Subsidiary shall be required to pay any additional amount to any Lender pursuant to this Section 2.16(a) to compensate for a Tax or Other Tax payable because such Lender has breached (A) Section 2.16(h) and/or (B) the requirements for or limitations on transfers of interests under Section 11.04.

  • Each Swiss Borrowing Subsidiary shall ensure that while it is a Borrower it shall comply with the Swiss Withholding Tax Rules, provided that the Swiss Borrowing Subsidiary shall not be in breach of this covenant if its number of creditors in respect of either the Swiss Ten Non-Bank Rule or the Swiss Twenty-Non Bank Rule is exceeded solely by reason of a failure by one or more Lenders to comply with their obligations under Clause 2.17(h) or 10.04(d).

  • Each Swiss Borrowing Subsidiary shall ensure that while it is a Borrower it shall comply with the Swiss Withholding Tax Rules; provided that the Swiss Borrowing Subsidiary shall not be in breach of this covenant if its number of creditors in respect of either the Swiss Ten Non-Bank Rule or the Swiss Twenty- Non Bank Rule is exceeded solely by reason of a failure by one or more Lenders to comply with their obligations under Clause 2.17(h) or 10.04.

  • Unlike Absher, the regulatory scheme here does not involve any qualitative judgments.

  • Notwithstanding the foregoing, with respect to Swiss Withholding Tax only, no Swiss Borrowing Subsidiary shall be required to pay any additional amount to any Lender pursuant to this Section 2.17(a) to compensate for a Tax or Other Tax payable because such Lender has breached (A) Section 2.17(h) and/or (B) the requirements for or limitations on transfers of interests under Section 11.04.

  • For purposes of compliance with the Swiss Withholding Tax Rules, each Swiss Borrowing Subsidiary shallassume for the purposes of determining the total number of creditors which are Non-Qualifying Banks that at all times there are ten Lenders that are Non-Qualifying Banks.

  • Each Lender which is a Qualifying Bank, and which participates in a Loan made to or LC Disbursement for the account of any Swiss Borrowing Subsidiary, will promptly notify the specific Swiss Borrowing Subsidiary and the Administrative Agent in writing as soon as it becomes aware that it ceases, or will cease, to be a Qualifying Bank.

  • The applicable Swiss Borrowing Subsidiaries and the Lenders shall promptly co-operate in completing any procedural formalities (including submitting forms and documents required by the Swiss or foreign tax authorities) to the extent possible and necessary (i) for the applicable Swiss Borrowing Subsidiary to obtain the tax ruling from the Swiss Federal Tax Administration and (ii) for the Lenders to claim a refund of any Swiss Withholding Tax so deducted.

  • Each Swiss Borrowing Subsidiary shall ensure that while it is a Borrower it shall comply with the Swiss Withholding Tax Rules; provided that the Swiss Borrowing Subsidiary shall not be in breach of this covenant if its number of creditors in respect of either the Swiss Ten Non-Bank Rule or the Swiss Twenty-Non Bank Rule is exceeded solely by reason of a failure by one or more Lenders to comply with their obligations under Clause 2.17(h) or 10.04.

Related to Swiss Borrowing Subsidiary

  • Borrowing Subsidiary means any Subsidiary that has been designated as such pursuant to Section 2.18 and that has not ceased to be a Borrowing Subsidiary as provided in such Section.

  • Swiss Borrower means a Borrower incorporated in Switzerland and/or having its registered office in Switzerland and/or qualifying as a Swiss resident pursuant to Art. 9 of the Swiss Federal Withholding Tax Act.

  • Subsidiary Borrower mean each Subsidiary of the Company that shall become a Subsidiary Borrower pursuant to Section 2.19, so long as such Subsidiary shall remain a Subsidiary Borrower hereunder. As of the date hereof, there are no Subsidiary Borrowers party hereto.

  • Domestic Subsidiary Borrower means any Subsidiary Borrower which is a Domestic Subsidiary.

  • Subsidiary Borrowers means (a) each Domestic Subsidiary that is a party hereto as of the Closing Date and (b) each Domestic Subsidiary that becomes a party to this Agreement after the Closing Date pursuant to Section 9.11 or otherwise.

  • Foreign Subsidiary Borrower means each Borrower that is a Foreign Subsidiary.

  • Canadian Borrower as defined in the preamble hereto.

  • German Borrower means a Borrower incorporated in Germany.

  • Domestic Borrower means the Company and each Designated Borrower that is a Domestic Subsidiary.

  • Dutch Borrower means any Borrower that is organized under the laws of the Netherlands.

  • Foreign Borrower means any Borrower that is a Foreign Subsidiary.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Borrowing Subsidiary Agreement means a Borrowing Subsidiary Agreement substantially in the form of Exhibit F-1.

  • Canadian Subsidiary means any Subsidiary that is organized under the laws of Canada or any province or territory thereof.

  • UK Borrower means any Borrower (i) that is organized or formed under the laws of the United Kingdom or (ii) payments from which under this Agreement or any other Loan Document are subject to withholding Taxes imposed by the laws of the United Kingdom.

  • Designated Borrower has the meaning specified in the introductory paragraph hereto.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Foreign Borrowers means the Canadian Borrower, the Dutch Borrower, and the U.K. Borrowers.

  • Qualified borrower means any borrower that is a sponsoring entity that has a controlling interest in the real property that is financed by a qualified loan. A controlling interest includes, but is not limited to, a controlling interest in the general partner of a limited partnership that owns the real property.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Funding Borrower shall have the meaning set forth in Section 20.12 hereof.

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • UK Borrowers shall have the meaning assigned to such term in the preamble hereto.

  • Domestic Loan Party means any Loan Party organized under the laws of any state of the United States of America or the District of Columbia.