Swiss Twenty Non-Bank Regulations definition

Swiss Twenty Non-Bank Regulations means the Swiss Guidelines of the Swiss Federal Tax Administration (or legislation or explanatory notes addressing the same issues which are in force at such time) pursuant to which the aggregate number of creditors (Gläubiger), which are Swiss Non-Qualifying Banks and to which the Swiss Borrower directly or indirectly owes borrowed money including, inter alia, this Agreement, taken together, shall not exceed twenty at any time in order to not trigger Swiss Federal Withholding Tax.
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Swiss Twenty Non-Bank Regulations means the regulations pursuant to the explanatory notes S-02.122.1(4.99), S-02.122.2(4.1999) and S-02.128(1.2000) of the Swiss Federal Tax Administration (or legislation or explanatory notes addressing the same issues which are in force at such time) pursuant to which the aggregate number of persons and legal entities, which are Swiss Non-Qualifying Banks and to which a Swiss Borrower directly or indirectly owes interest-bearing borrowed money under all interest-bearing instruments including, inter alia, this Agreement, taken together, shall not exceed twenty at any time in order to not trigger Swiss Federal Withholding Tax.
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Examples of Swiss Twenty Non-Bank Regulations in a sentence

  • Each Swiss Borrower shall comply with the Swiss Twenty Non-Bank Regulations at all times; provided, that a Swiss Borrower shall not be in breach of this undertaking if such number of creditors is exceeded solely by reason of the restrictions on transfers and assignments to and assumptions and participations by Swiss Non-Qualifying Banks as to Loans or L/C Advances made to Swiss Borrowers not being complied with by one or more Lenders (Section 10.07(b) and (d)).

  • Each of the Swiss Borrowers shall at all times ensure that it complies with the Swiss Twenty Non-Bank Regulations.

  • Each of the Swiss Borrowers represents and warrants that it does not have at any time outstanding loans in relation to which the total number of all creditors which are Swiss Non-Qualifying Banks exceeds twenty under the Swiss Twenty Non-Bank Regulations.

  • The Swiss Borrower shall at all times ensure that it complies with the Swiss Twenty Non-Bank Regulations.

  • Each Swiss Borrower shall at all times ensure that it complies with the Swiss Twenty Non-Bank Regulations.

  • The Swiss Borrower represents and warrants that it does not have at any time outstanding loans in relation to which the total number of all creditors which are Swiss Non-Qualifying Banks exceeds twenty under the Swiss Twenty Non-Bank Regulations.

Related to Swiss Twenty Non-Bank Regulations

  • Applicable Banking Regulations means at any time the laws, regulations, requirements, guidelines and policies relating to capital adequacy, resolution and/or solvency including, among others, those giving effect to the MREL and the TLAC or any equivalent or successor principles, then applicable to Banco Santander and/or the Group including, without limitation to the generality of the foregoing, the CRD IV, the BRRD, the SRM Regulation and those regulations, requirements, guidelines and policies relating to capital adequacy, resolution and/or solvency of the Regulator and/or the Relevant Resolution Authority then applicable to Banco Santander and/or the Group including, among others, those giving effect to the MREL and the TLAC or any equivalent or successor principles, in each case to the extent then in effect in the Kingdom of Spain (whether or not such regulations, requirements, guidelines or policies have the force of law and whether or not they are applied generally or specifically to Banco Santander and/or the Group).

  • 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;

  • UK Non-Bank Lender means (a) where a Lender becomes a party hereto on the day on which this Agreement is entered into, a Lender listed in Schedule 3.01(j), and (b) where a Lender becomes a party hereto after the day on which this Agreement is entered into, a Lender which gives a UK Tax Confirmation in the Assignment and Assumption and/or Joinder Agreement which it executes on becoming a party hereto.

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

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from 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.

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

  • 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.

  • 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.

  • 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.

  • RFR Banking Day means any day specified as such in the Reference Rate Terms.

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

  • Licensed financial institution means a financial institution issued a license under this act.

  • regulated financial institution means a state or nationally chartered bank, savings and loan association or savings bank, credit union, trust company, or other state or federally chartered lending institution or a regulated affiliate or regulated subsidiary of any of these entities.

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

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

  • 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.