Swiss Non-Bank Rules. 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 Non-Bank Rules. Swissco shall ensure that at all times it is in compliance with the Swiss Non-Bank Rules; provided that Swissco shall not be in breach of this Section 5.18 if the Swiss Non-Bank Rules have been breached solely by reason of (a) a failure by one or more Lenders to comply with their respective obligations under Section 9.04(b) or Section 9.04(c) or (b) a Lender ceasing to be a Qualifying Bank other than as a result of any change after the date it became a Lender 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.
Swiss Non-Bank Rules. Each Swiss Loan Party shall ensure that it is in compliance with the Swiss Non-Bank Rules at any time, provided that a Swiss Borrower shall not be in breach of this covenant if its number of creditors in respect of the Swiss 10 Non-Bank Rule is exceeded solely by reason of (i) a failure by one or more Lenders to comply with their obligations under paragraph (b)(iii) of Section 11.06 or (ii) an initial Lender ceasing to be a Swiss Qualifying Bank other than as a result of any change after the date it became an initial Lender 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. For the purposes of compliance with this covenant, a Swiss Borrower shall assume that at any time there may be up to 10 (ten) creditors that are Swiss Non-Qualifying Banks under this Agreement (irrespective of whether or not there are, at any time, any creditors which are Swiss Non-Qualifying Banks).
Swiss Non-Bank Rules. Swiss Subsidiary Borrower shall ensure that while it is a Borrower it shall comply with the Swiss Non-Bank Rules, subject to the Lenders complying with their obligations under Section 10.07 and their representations and undertakings otherwise set forth herein. 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.
Swiss Non-Bank Rules. Each Obligor shall ensure that it is (and the Company shall ensure that each member of the Group is) in compliance with the Swiss Non-Bank-Rules 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 a breach by one or more Lenders of (i) a confirmation contained in Clause 12.7 (Lender status confirmation) or (ii) paragraph (a) of Clause 22.2 (Conditions of assignment or transfer). For the purposes of this Clause 20.11, each Swiss Borrower shall assume that the number of Lenders which are not Swiss Qualifying Banks is at any time ten (10), even if such number is effectively less at any time.
Swiss Non-Bank Rules. (a) Each Swiss Loan Party shall at all times during the term of this Agreement be in compliance with the Swiss Non-Bank Rules, provided that a Swiss Loan Party shall not be in breach of this undertaking if such numbers of creditors is exceeded solely by reason of:
(i) one or more Lenders:
(A) not complying with their obligations under clause (b)(iii) of Section 9.05; or
(B) having acquired any rights pursuant to clause (b)(iii) of Section 9.05 against such Swiss Loan Party as a result of such breach;
(ii) one or more Lenders did confirm that they were a Swiss Qualifying Bank but (A) never was a Swiss Qualifying Bank or (B) has ceased to be a Swiss Qualifying Bank as a result of any reason attributable to such Lender(s) other than as a result of any change after the date it or they became a Lender under this Agreement in or in the interpretation, administration, or application of (i) any law or treaty, or any published practice or (ii) concession of any relevant taxing authority); or
(iii) any of the confirmations made by an original Lender in Section 2.26 or by a new Lender made in an Assignment an Assumption is incorrect.
(b) For the purposes of this Section 5.08 each Swiss Loan Party shall assume that the aggregate number of Lenders which are Swiss Non-Qualifying Banks is ten.
Swiss Non-Bank Rules. The Borrower shall ensure that it is at all times in compliance with the Swiss Non-Bank Rules; provided that the Borrower shall not be in breach of this covenant if its number of creditors in respect of either the Swiss 10 Non-Bank Rule or the Swiss 20 Non-Bank Rule is exceeded solely by reason of a failure by one or more Lenders to comply with their obligations under Section 9.4, having given an incorrect information (or having lost) as to its status as Qualifying Bank or as one (1) creditor only for the purposes of the Swiss Non-Bank Rules. For the purpose of its compliance with the Swiss 20 Non-Bank Rule under this Section 6.20, the number of Lenders under this Agreement which are not Qualifying Banks shall be deemed to be five (irrespective of whether or not there are, at any time, any such Lenders.
Swiss Non-Bank Rules. Each Swiss Loan Party is in compliance with the Swiss Non-Bank Rules. For the purposes of this Section 3.14, (a) each Swiss Loan Party shall assume that the aggregate number of Lenders under this Agreement which are Swiss Non-Qualifying Lenders is five (5), and (b) no Default or Event of Default with respect to this Section 3.14 shall be deemed to exist due to any inaccuracy of the representation and warranty contained herein that arises from (i) an inaccurate representation and warranty by a Lender pursuant to Section 9.17, (ii) any assignment or participation by a Lender to a Person that is a Swiss Non-Qualifying Lender without the consent of the Company or (iii) any Lender ceasing to be a Swiss Qualifying Lender so long as commencing promptly after the Company obtains Knowledge of such event, the Company and each Swiss Loan Party take all reasonable steps to cause each Swiss Loan Party to be in compliance with the Swiss Non-Bank Rules.
Swiss Non-Bank Rules. Each Swiss Loan Party shall at all times comply with the Swiss Twenty Non-Bank Rule, to the extent applicable; provided that a Swiss Loan Party shall not be in breach of this Section 5.07 if non-compliance arises solely as a consequence of (a) an inaccurate representation and warranty by a Lender pursuant to Section 9.17; (b) any assignment or participation by a Lender to a Person that is not a Swiss Qualifying Lender without the consent of the Company; or (c) any Lender ceasing to be a Swiss Qualifying Lender so long as commencing promptly after the Company obtains knowledge of such event, the Company and such Swiss Loan Party take all reasonable steps to cause the number of creditors of such Swiss Loan Party relevant under the Swiss Twenty Non-Bank Rule to be not more than 20.
Swiss Non-Bank Rules. Each Swiss Borrower is in compliance with the Swiss Non-Bank Rules. For the purposes of this Section 3.19, (a) each Swiss Borrower shall assume that the aggregate number of Lenders under this Agreement which are Swiss Non-Qualifying Lenders is ten (10), and (b) no Default or Event of Default with respect to this Section 3.19 shall be deemed to exist due to any inaccuracy of the representation and warranty contained herein that arises from (i) an inaccurate representation and warranty by a Lender pursuant to Section 9.19, (ii) any assignment or participation by a Lender to a Person that is a Swiss Non-Qualifying Lender without the consent of the Company or (iii) any Lender ceasing to be a Swiss Qualifying Lender so long as (A) commencing promptly after the Company obtains Knowledge of such event, the Company and each Swiss Borrower take all reasonable steps to cause each Swiss Borrower to be in compliance with the Swiss Non-Bank Rules, and (B) the Company agrees to indemnify each Lender for any loss, cost or expense such Lender may incur as a result of any violation of the Swiss Non-Bank Rules.
