Swiss Obligor definition
Examples of Swiss Obligor in a sentence
Each Swiss Obligor shall provide to the Administrative Agent the documents required by law or applicable double taxation treaties for the Lenders to claim a refund of any Swiss Withholding Tax so deducted.
In the event Swiss Withholding Tax is refunded to the Lender by the Swiss Federal Tax Administration, the relevant Lender shall forward, after deduction of costs, such amount to the applicable Swiss Obligor.
Notwithstanding the foregoing, for the purposes of clause (B) above, each Lender may assume that no Swiss Obligor has any other interest bearing loan facility with lenders (other than Lenders or Participants hereunder) who are not Swiss Qualifying Lenders, and if the number of Swiss Non-Qualifying Lenders exceeds 20 solely as a result of Swiss Non-Qualifying Lenders under any other interest bearing loan facility, no Lender shall have any liability for indemnity to any other Person.
Such limitation shall not free the Swiss Obligor from its obligations in excess of the Freely Disposable Amount, but merely postpone the performance date thereof until such times when the Swiss Obligor has again freely disposable equity.
If a refund is made to a Credit Party, such Credit Party shall transfer the refund so received to the Swiss Obligor, subject to any right of set-off of such Credit Party pursuant to the Loan Documents.