Common use of Swiss Non-Bank Rules Clause in Contracts

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. Each Obligor shall ensure that it is (It and the Company shall ensure that each member of the Group is) is in compliance with the Swiss Non-Bank-Rules at all timesRules, provided that a Swiss Borrower shall not be in breach of this undertaking representation 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 20.1118.23, 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.