Common use of Swiss Non-Bank Rules Clause in Contracts

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.