Twenty Non-Bank Rule definition

Twenty Non-Bank Rule means the rule that the aggregate number of the Issuer’s lenders (including Noteholders), other than Qualifying Banks, under all outstanding debts relevant for classification as debentures (Kassenobligation), such as intra-group loans (if and to the extent relevant), facilities and/or private placements (including under Restricted Notes and Notes not classified as a taxable bond (Anleihensobligation)) must not at any time exceed twenty, in each case in accordance with the meaning of the Guidelines; and
Twenty Non-Bank Rule means the rule according to which the aggregate number of creditors (including the Lenders), other than Eligible Swiss Banks, of the Swiss Subsidiary Borrower under all its outstanding debt instruments relevant for classification as debenture must not at any time exceed twenty (20), all in accordance with the meaning of the Guidelines.
Twenty Non-Bank Rule. ’ means the rule that the aggregate number of the Issuer’s lenders (including Loan Noteholders), other than Qualifying Banks, under all outstanding loans (including intra-group loans), facilities and/or private placements (including under the Loan Notes) must not at any time exceed twenty, in each case in accordance with the meaning of the Guidelines.

Examples of Twenty Non-Bank Rule in a sentence

  • Swiss Subsidiary Borrower shall assume, for the purposes of determining the total number of creditors which are Non-Eligible Swiss Banks with respect to the Twenty Non-Bank Rule, that at all times, with respect to the Obligations of the Swiss Subsidiary Borrower hereunder, there are ten (10) Non-Eligible Swiss Banks.

  • Compliance with the Swiss Twenty Non-Bank Rule 93104 Section 3.15.

  • Compliance with the Swiss Twenty Non-Bank Rule 104117 Section 5.12.

  • 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 Section 10.7.

  • Swiss Subsidiary Borrower shall assume, for the purposes of determining the total number of creditors which are Non-Qualifying Banks with respect to the Twenty Non-Bank Rule, that at all times, with respect to the Obligations of the Swiss Subsidiary Borrower hereunder, there are ten (10) Non-Qualifying Banks.


More Definitions of Twenty Non-Bank Rule

Twenty Non-Bank Rule means the rule that (without duplication) the aggregate number of creditors (including the Lenders), other than Qualifying Banks, of a Swiss Borrower under all outstanding debts relevant for classification as debenture (Kassenobligation) (including debt arising under this Agreement and intra-group loans (if and to the extent intra-group loans are not exempt in accordance with the ordinance of the Swiss Federal Council of 18 June 2010 amending the Swiss Federal Ordinance on withholding tax and the Swiss Federal Ordinance on stamp duties with effect as of 1 August 2010), loans, facilities and/or private placements (including under the Finance Documents)) must not at any time exceed twenty, in each case in accordance with the meaning of the Guidelines.
Twenty Non-Bank Rule means the rule according to which the aggregate number of (a) where such qualification is relevant, Lenders, participants and/or sub-participants which are Non-Eligible Swiss Banks, under all interest bearing loans made or deemed to be made to the Swiss Subsidiary Borrower (including intra-group loans), and (b) where the number of debt instruments (as defined in the Guidelines) is relevant, the number of such debt instruments, being understood that for purposes hereof the maximum number of ten Non-Eligible Swiss Banks permitted under this Agreement shall be taken into account (whether or not 10 Non-Eligible Swiss Banks do so participate at any given time), must not at any time exceed twenty (20), in each of (a) and (b) in accordance with the meaning of the Guidelines.
Twenty Non-Bank Rule means the rule that the aggregate number of creditors (including the Bank), other than Qualifying Banks, of ACE under all outstanding debts relevant for classification as debenture (“Kassenobligation”) (within the meaning of the Guidelines), such as loans, facilities and / or private placements (including under the Loan Documents) must not exceed at any time 20, all in accordance with the meaning of the Guidelines or legislation or explanatory notes addressing the same issues which are in force at such time.
Twenty Non-Bank Rule means the rule that the aggregate number of creditors (including the Lenders), other than Qualifying Banks, of a Swiss Account Party under all its outstanding debts relevant for classification as debenture (Kassenobligation) (including debts arising under this Agreement and intra-group loans, if and to the extent intra-group loans are not exempt in accordance with the ordinance of the Swiss Federal Council of 18 June 2010 amending the Swiss Federal Ordinance on withholding tax with effect as of 1 August 2010, facilities and/or private placements) must not at any time exceed twenty (20), all in accordance with the meaning of the Guidelines or legislation or explanatory notes addressing the same issues which are in force at such time.
Twenty Non-Bank Rule means the rule that the aggregate number of persons that pursuant to the Guidelines count as lenders to the Issuer (including Loan Noteholders), other than Qualifying Banks, under all outstanding debt relevant for the classification of debenture (Kassenobligation) (within the meaning of the Guidelines) such as intra-group loans, facilities and/or private placements (including under the Loan Notes) must not at any time exceed twenty (20).TERMS AND CONDITIONS OF THE SERIES B LOAN NOTES The terms and conditions (each, a “Condition”) of the EUR 800,000,000 Senior Unsecured Loan Notes due 2030 (the “Loan Notes”) issued by Givaudan SA (the “Issuer”) will be issued in accordance with an agency agreement (the “Agency Agreement”) dated on or around 17 September 2018 among the Issuer and the agents named therein. The terms of the Loan Notes govern the rights and obligations of the Issuer and the Loan Noteholders (as defined below) in relation to the Loan Notes and are set out below. Capitalised terms used herein have the meaning ascribed to them in Condition 15.
Twenty Non-Bank Rule means the rule that the aggregate number of creditors, other than Qualifying Banks, of the Company, under all outstanding written debt instruments relevant for classification as a cash debenture (Kassenobligation), such as loans, notes, facilities and/or private placements must not at any time exceed twenty (20), all in accordance within the meaning of the Guidelines VWAP means, as of any date, the daily CHF volume-weighted average price per Share, as reported by Bloomberg displayed under the ticker symbol "WXXX XX", through its "Historical Price Table Screen (HP)" with "Market: Weighted Ave" function selected, provided that a comparable publication may be agreed between the Parties in the event that Bloomberg ceases publication of such price during the term of this Agreement.
Twenty Non-Bank Rule means the rule that (without duplication) the aggregate number of creditors (including the Banks), which are Non-Qualifying Banks, of the Parent under all its outstanding debts relevant for classification as debenture (Kassenobligation) (including Debt arising under this Agreement and intra-group loans (if and to the extent intra-group loans are not exempt in accordance with art. 14a of the Swiss Federal Ordinance on Withholding Tax), loans, facilities and/or private placements (including under the Loan Documents)) must not at any time exceed 20, in each case in accordance within the meaning of the Guidelines.