Twenty Non-Bank Regulations definition

Twenty Non-Bank Regulations means the regulations pursuant to the guidelines No. S-02.122.1(4.99), No. 34(07.11), No. S-02.128(1.2000) and No. S-02.130.1(4.99) of the Swiss Federal Tax Administration (or legislation or guidelines addressing the same issues which are in force at such time) pursuant to which the aggregate number of persons and legal entities, which are not Swiss Qualifying Banks and to which the Swiss Borrower directly or indirectly, including, without limitation, through a Restricted Sub-Participation or other sub-participations under any other agreement, owes interest-bearing borrowed money under all interest-bearing instruments including, inter alia, this Agreement, taken together (other than bond issues which are subject to Swiss Withholding Tax), shall not exceed twenty at any time in order to not trigger Swiss Withholding Tax.
Twenty Non-Bank Regulations means the regulations pursuant to the explanatory notes S-02.122.1(4.99) and S-02.122.2(4.99) 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 not Swiss Qualifying Banks and to which the European Borrower directly or indirectly, including, without limitation, through a Restricted Sub-Participation or other sub-participations under any other agreement, owes interest-bearing borrowed money under all interest-bearing instruments including, inter alia, this Agreement, taken together (other than bond issues which are subject to Swiss Withholding Tax), shall not exceed twenty at any time in order to not trigger Swiss Withholding Tax.
Twenty Non-Bank Regulations means the regulations pursuant to the explanatory note S-02.122.1(4.99) 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, that are Swiss Non-Qualifying Lenders and to which the Swiss Borrower directly or indirectly, including but not limited to a participation which is not a Qualifying Participation or other participations under any other agreement, owes interest-bearing borrowed money under all interest-bearing instruments including, inter alia, this Credit Agreement, taken together (other than short term borrowings and bond issues which are subject to Swiss Withholding Tax), shall not exceed twenty at any time in order to not trigger Swiss Withholding Tax.

Examples of 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.


More Definitions of Twenty Non-Bank Regulations

Twenty Non-Bank Regulations means the rule that the aggregate number of creditors (including the Lenders), other than Swiss Qualifying Banks, of each Swiss Loan Party under all outstanding debts relevant for classification as debenture (Kassenobligation) (within the meaning of the applicable Swiss Guidelines and Swiss tax laws), such as loans, facilities and/or private placements (including under the Loan Documents) must not at any time exceed 20 (twenty), all in accordance with the meaning of the applicable Swiss Guidelines.
Twenty Non-Bank Regulations means the regulations pursuant to the explanatory note S-02.122.1(4.99) 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 not Swiss Qualifying Banks and to which the Swiss Obligor directly or indirectly, including, without limitation, through a Restricted Sub-Participation or other sub-participations under any other agreement, owes interest-bearing borrowed money under all interest-bearing instruments including, inter alia, this Agreement, taken together (other than bond issues which are subject to Swiss Withholding Tax), shall not exceed twenty at any time in order to not trigger Swiss Withholding Tax.
Twenty Non-Bank Regulations means the regulations pursuant to the explanatory note S-02.122.1(4.99) 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 (other than related party lenders exempt in accordance with the Ordinance of the Swiss Federal Council dated 18 June 2010 amending the Swiss federal ordinances on the Swiss Withholding Tax Act and on the Stamp Tax Act), that are Swiss Non-Qualifying Lenders and to which the Swiss Borrower directly or indirectly, including but not limited to a participation which is not a Qualifying Participation or other participations under any other agreement, owes interest-bearing borrowed money under all interest-bearing instruments including, inter alia, this Credit Agreement, taken together (other than short term borrowings and bond issues which are subject to Swiss Withholding Tax), shall not exceed twenty at any time in order to not trigger Swiss Withholding Tax.

Related to Twenty Non-Bank Regulations

  • Central Bank Regulations means the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations, 2019, as may be amended from time to time;

  • Central Bank UCITS Regulations means the Central Bank (Supervision and Enforcement)

  • 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).

  • the 2001 Regulations means the Water Supply (Water Quality) Regulations 2001[63];

  • the 1997 Regulations means the Zebra, Pelican and Puffin Pedestrian Crossing Regulations 1997.

  • the 2012 Regulations means the Council Tax Reduction Schemes (Prescribed Requirements) (England) Regulations 2012;

  • EEA Regulations means the Immigration (European Economic Area) Regulations 2006.

  • the 2007 Regulations means the Civil Enforcement of Parking Contraventions (England) General Regulations 2007;

  • the 2000 Regulations means the Water Supply (Water Quality) Regulations 2000(b); "the 2001 Regulations" means the Water Supply (Water Quality) Regulations 2001(c);

  • Transfer Regulations means the Transfer of Undertakings (Protection of Employment) Regulations 2006;

  • Takeover regulations means the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and any amendments thereto;

  • SEBI Regulations means the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 together with the circulars issued thereunder, including any statutory modification(s) or re-enactment(s) thereof for the time being in force.

  • CSD Regulations means the CSD’s rules and regulations applicable to the Issuer, the Agent and the Notes from time to time.

  • 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;

  • CFTC Regulations means the rules and regulations promulgated by the CFTC, as amended.

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

  • Regulation CF means Regulation Crowdfunding promulgated under the Securities Act.

  • Regulations of the U.S. Department of Transportation means the regulations in 49 CFR Parts 100-189.

  • Capital Instruments Regulations means the Delegated Regulation and any other rules or regulations of the Relevant Authority or which are otherwise applicable to the Issuer or the Group (as the case may be and, where applicable), whether introduced before or after the Issue Date of the relevant Series of Notes, which prescribe (alone or in conjunction with any other rules or regulations) the requirements to be fulfilled by financial instruments for their inclusion in the Own Funds to the extent required under the CRD IV Package;

  • EEA national means a national of one of the following countries:

  • TUPE Regulations means the Transfer of Undertakings (Protection of Employment) Regulations 2006, as amended.

  • Federal banking agencies means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the National Credit Union Administration, and the Federal Deposit Insurance Corporation.

  • PPPFA Regulations means the Preferential Procurement Regulations, 2017 published in terms of the PPPFA.

  • National Building Regulations means the National Building Regulations made under section 17(1) of the National Building Regulations and Building Standards Act, 1977 (Act No.103 of 1977), and published under Government Notice No. R.1081 of 10 June 1988, as amended;

  • FCC Regulations means the regulations duly and lawfully promulgated by the FCC, as in effect from time to time.

  • Common Reporting Standard (CRS) means the Standard for Automatic Exchange of Financial Account Information (“AEOFAI”) in Tax Matters and was developed in response to the G20 request and approved by the Organisation for Economic Co-operation and Development (OECD) Council on 15 July 2014, calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. It sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions.