Common use of Compliance with the Swiss Non-Bank Rules Clause in Contracts

Compliance with the Swiss Non-Bank Rules. (a) Each Swiss Obligor shall comply with the Swiss Non-Bank Rules; provided, however, that a Swiss Obligor shall not be in breach of this covenant if the permitted number of Swiss Non-Qualifying Lenders is exceeded solely by reason of: (i) a failure by one or more Lenders or Participants to comply with their obligations under Section 11.05 or Section 11.25; (ii) a confirmation made by one or more Lenders or Participants to be one single Swiss Non-Qualifying Lender is incorrect; (iii) one or more Lenders or Participants ceasing to be a Swiss Qualifying Lender (to the extent such Lender or Participant is confirmed to be a Swiss Qualifying Lender) as a result of any change after the date it became a Lender or Participant under this Agreement in (or in the interpretation, administration, or application of) any law or treaty or any published practice or published concession of any relevant taxing authority; or (iv) an assignment or participation of any Commitments or LC Exposure under this Agreement to a Swiss Non-Qualifying Lender after the occurrence of an Event of Default. (b) For the purposes of this Section 7.10, each Swiss Obligor shall assume that the aggregate number of Lenders and Participants under this Agreement which are Swiss Non-Qualifying Lenders is ten.

Compliance with the Swiss Non-Bank Rules. (a) Each Swiss Obligor Loan Party shall comply with the Swiss Non-Bank Rules; provided, however, that a Swiss Obligor Loan Party shall not be in breach of this covenant if the permitted number of Swiss Non-Qualifying Lenders is exceeded solely by reason of: (i) a failure by one or more Lenders or Participants to comply with their obligations under Section 11.05 13.1 or Section 11.2517.17; (ii) a confirmation made by one or more Lenders or Participants to be one single Swiss Non-Qualifying Lender is incorrect; (iii) one or more Lenders or Participants ceasing to be a Swiss Qualifying Lender (to the extent such Lender or Participant is confirmed to be a Swiss Qualifying Lender) as a result of any change after the date it became a Lender (or Participant Participant) under this Agreement in (or in the interpretation, administration, or application of) any law or treaty Treaty or any published practice or published concession of any relevant taxing authority; or (iv) an assignment or participation of any Commitments or LC Exposure under this Agreement to a Swiss Non-Qualifying Lender after the occurrence of an Event of Default. (b) For the purposes of this Section 7.105.20, each Swiss Obligor Loan Party shall assume that the aggregate number of Lenders and or Participants under this Agreement which are Swiss Non-Qualifying Lenders is tenten (10).