Ten Non-Bank Rule definition

Ten Non-Bank Rule means the rule according to which the aggregate number of Lenders participants and/or sub-participants (except in the case of a Non-Harmful Subparticipation) under this Agreement (respectively under any Facility if the Swiss Federal Tax Administration has confirmed that each applicable Facility can be considered as a separate financing for Swiss Withholding Tax purposes) which are not Eligible Swiss Banks must not at any time exceed ten (10), in each case in accordance with the meaning of the Guidelines.
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Ten Non-Bank Rule means the rule that the aggregate number of Noteholders under a Series of Restricted Notes which are not Qualifying Banks must not at any time exceed ten, in each case in accordance with the meaning of the Guidelines.
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Ten Non-Bank Rule means the rule that the aggregate number of creditors (within the meaning of the Guidelines) under the Facilities which are not Qualifying Banks must not exceed ten (10).
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Examples of Ten Non-Bank Rule in a sentence

  • The Borrower represents and warrants that it is in compliance with the Swiss Non-Bank Rules provided that the Borrower shall not be in breach of this representation and warranty 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 the requirements for a transfer, assignment or participation pursuant to S ection 10.7.

  • 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.

  • Unless an Event of Default has occurred and is continuing, a payment shall not be increased with respect to a specific Lender under this paragraph (i) of Section 2.12 by reason of Swiss Withholding Tax if and to the extent the Swiss Ten Non-Bank Rule and/or the Swiss Twenty Non-Bank Rule shall have been violated as a result, in whole or in part, of such Lender's non-compliance with its obligations under Section 2.17(h) or Section 10.04(e).

  • The Borrower shall ensure that it is in compliance at all times with the Swiss Non-Bank Rules provided that theBorrower shall not be in breach of this undertaking 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 the requirements for a transfer, assignment or participation pursuant toS ection 10.7.

  • Unless an Event of Default has occurred and is continuing, a payment shall not be increased with respect to a specific Lender under this Section 2.17 by reason of Swiss Withholding Tax if and to the extent the Swiss Ten Non-Bank Rule and/or the Swiss Twenty Non-Bank Rule shall have been violated as a result, in whole or in part, of such Lender's non-compliance with its obligations under Section 2.17(h) or Section 10.04(e).


More Definitions of Ten Non-Bank Rule

Ten Non-Bank Rule. ’ means the rule that the aggregate number of the Issuer’s lenders (including Loan Noteholders) under the Loan Notes which are not Qualifying Banks must not at any time exceed ten, in each case in accordance with the meaning of the Guidelines.
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Ten Non-Bank Rule means the rule that the aggregate number of persons that pursuant to the Guidelines count as lenders in respect of Loan Notes which are not Qualifying Banks must not at any time exceed ten (10).
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Ten Non-Bank Rule means the rule pursuant to the Guidelines, and in particular circular S-02.122.1 (4.99) and circular S-02.128 (1.2000) of the Swiss Federal Tax Administration (or legislation and/or regulations addressing the same issues, which are in force at such time) according to which a Swiss issuer may not issue, at the same time, directly or indirectly (notably by way of assignment or sub-participation), collective written debt instruments (such as bonds) at identical conditions to more than ten (10) lenders other than Qualifying Swiss Banks without triggering Swiss Federal Withholding Tax on the interest payments related thereto and/or Swiss issuance stamp tax upon issuance.
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Ten Non-Bank Rule means the rule that the aggregate number of creditors, other than Qualifying Banks under this Agreement must not at any time exceed ten (10), all in accordance within the meaning of the Guidelines. Trading Day means any day during which the Principal Market is open for business. Trading Limitations means the trading limitations referred to in Section 17.
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Ten Non-Bank Rule means the rule that not more than ten creditors of the Parent under this Agreement may be Non-Qualifying Lenders (as provided in the applicable Guidelines) without triggering Swiss Withholding Tax.
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Related to Ten 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.

  • 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.

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

  • 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.

  • Overnight Bank Funding Rate means, for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated in Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the NYFRB’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.

  • UK Financial Institution 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.

  • 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.

  • Approved Financial Institution means any bank approved by Exchange in accordance with its credit review procedures or policies;

  • Affected Financial Institution means (a) any EEA Financial Institution or (b) any UK Financial Institution.

  • 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.

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

  • 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.

  • Qualifying Bank means any entity, which effectively conducts banking activities as principal purpose with its own infrastructure and staff and which is recognized as a bank by the banking laws in force in the jurisdiction of its incorporation, or if such entity is acting through a branch in a jurisdiction other than the jurisdiction of its incorporation, in the jurisdiction where such branch is located or registered all in accordance with the Swiss Guidelines.

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

  • Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America or Europe that at such time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated A-1 or higher by Standard & Poor’s, a division of The McGraw Hill Companies, Inc., Ratings Group (or any successor) or P-1 or higher by Moody’s Investors Service, Inc. (or any successor) or, in either case, such other comparable rating, if any, then used by such rating agency.

  • Designated Financial Institution shall have the meaning specified in Section 14.12(a).

  • 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.

  • Mizuho means Mizuho Bank, Ltd.