Swiss Non-Bank Rules means the Swiss Ten Non-Bank Rule and the Swiss Twenty Non-Bank Rule.
Swiss Non-Bank Rules means, together, the Swiss Ten Non-Bank Rule and the Swiss Twenty Non-Bank Rule. ~ 4 ~
Swiss Non-Bank Rules means the Swiss Ten Non-Bank Rule, the Swiss Twenty Non-Bank Rule, as well as any similar rule which is to be complied with in order to avoid that the Loans may be classified as bonds or other instruments bearing interest that is subject to Swiss Withholding Tax or in order to avoid that a Swiss Obligor be assimilated to a bank for Swiss Withholding Tax purposes.
Examples of Swiss Non-Bank Rules in a sentence
Xxxxxx Switzerland shall be compliant with the Swiss Non-Bank Rules; it being understood that Xxxxxx Switzerland shall assume that the aggregate number of Lenders under this Agreement which are not Swiss Qualifying Banks is five (5) (irrespective of whether or not there are, at any time, any such Lenders).
More Definitions of Swiss Non-Bank Rules
Swiss Non-Bank Rules means the Swiss 10-Non-Bank Rule and the Swiss 20-Non-Bank Rule. “Swiss Obligor” means a Swiss Borrower or a Swiss Guarantor.
Swiss Non-Bank Rules means together the Swiss Twenty Non-Bank Rule and the Swiss Ten Non-Bank Rule. “Swiss Non-Qualifying Lender” means a person which does not qualify as a Swiss Qualifying Lender.
Swiss Non-Bank Rules means the Swiss 10-Non-Bank Rule and the Swiss 20 Non-Bank Rule.
Swiss Non-Bank Rules means the Swiss Ten Non-Bank Rule and the Swiss Twenty Non-Bank Rule. “Swiss Qualifying Bank” means any person acting on its own account which is licensed as a bank by the banking laws in force in its jurisdiction of incorporation and any branch of a legal entity, which is licensed as a bank by the banking laws in force in the jurisdiction where such branch is situated, and which, in each case, exercises as its main purpose a true banking activity, having bank personnel, premises, communication devices of its own and authority of decision making, all within the meaning of the Swiss Guidelines. “Swiss Ten Non-Bank Rule” means the rule that the aggregate number of creditors (within the meaning of the Swiss Guidelines) under this Agreement which are not Swiss Qualifying Banks must not, at any time, exceed 10. “Swiss Twenty Non-Bank Rule” means the rule that (without duplication) the aggregate number of creditors (including the Lender), other than Swiss Qualifying Banks, of the Swiss Borrower under all outstanding debts relevant for classification as debenture (Kassenobligation) (including debt arising under this Agreement), loans, facilities and/or private placements (including under this Agreement) must not, at any time, exceed 20; in each case in accordance with the meaning of the Swiss Guidelines. “Swiss Withholding Tax” means the Tax levied pursuant to the Swiss Federal Withholding Tax Act. “Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), value added taxes, or any other goods and services, use or sales taxes, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 27
Swiss Non-Bank Rules means, together, the Ten Non-Bank Rule and/or the Twenty Non-Bank Rule. “Swiss Obligations” means all Obligations of the Swiss Loan Parties.
Swiss Non-Bank Rules means the Swiss Ten Non-Qualifying Bank Creditor Rule and the Swiss Twenty Non-Qualifying Bank Creditor Rule. “ Swiss Qualifying Bank ” means a person or entity (including any commercial bank or financial institution (irrespective of its jurisdiction oforganisation)) acting on its own account which has a banking licence in force and effect issued in accordance with the banking laws in its jurisdiction ofincorporation, or if acting through a branch, issued in accordance with the banking laws in the jurisdiction of such branch, and which, in both cases, effectively exercises as its main purpose a true banking activity, having bank personnel, premises, communication devices of its own and authority of decision making all in accordance and as defined in the Guidelines or in the legislation and explanatory notes addressing the same issues which are in force at such time.
Swiss Non-Bank Rules the Swiss 10 Non-Bank Rule and the Swiss 20 Non-Bank Rule.