Swiss Subsidiary Borrower definition

Swiss Subsidiary Borrower has the meaning specified in the introductory paragraph to this Agreement.
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Swiss Subsidiary Borrower as defined in the preamble hereto.
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Swiss Subsidiary Borrower has the meaning set forth in the preamble hereto. “Swiss Withholding Tax” means the tax imposed based on the Swiss Withholding Tax Act. “Swiss Withholding Tax Act” means the Swiss Federal Act on Withholding Tax of 13 October 1965 (Bundesgesetz über die Verrechnungssteuer), together with the related ordinances, regulations and guidelines, all as amended and applicable from time to time. “Synthetic Debt” means, with respect to any Person as of any date of determination thereof, all obligations of such Person in respect of transactions entered into by such Person that are intended to function primarily as a borrowing of funds (including any minority interest transactions that function primarily as a borrowing) but are not otherwise included in the definition of “Indebtedness” or as a liability on the consolidated balance sheet of such Person and its Subsidiaries in accordance with GAAP. “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a so- called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property (including sale and leaseback transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
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Examples of Swiss Subsidiary Borrower in a sentence

  • Notwithstanding the foregoing, if Swiss Withholding Tax is required in respect of any interest payable by the Swiss Subsidiary Borrower, then the applicable interest rate shall be adjusted as set forth in Section 2.08(d), subject to the conditions set forth herein.

  • Notwithstanding anything to the contrary in Section 10.01, any such amendments necessary or desirable to limit Swiss Withholding Tax (i) shall be effective with the consent of the Parent Borrower, the Swiss Subsidiary Borrower and each relevant Lender and (ii) shall not be construed to obligate any Loan Party to assume additional or different payment, guaranty or other economic burdens then as currently set forth herein.

  • For the avoidance of doubt, the Swiss Subsidiary Borrower shall be required to comply with the increased interest rule such as set out under Section 2.08(d) above in respect of all Lenders or participants that have complied with their obligations under all provisions referred to under this Section 2.08(f).

  • Swiss Subsidiary Borrower shall assume, for the purposes of determining the total number of creditors which are Non-Eligible Swiss 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-Eligible Swiss Banks.

  • Swiss Subsidiary Borrower shall ensure that while it is a Borrower it shall comply with the Swiss Withholding Tax 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 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.

  • For the avoidance of doubt, the Swiss Subsidiary Borrower shall be required to comply with the increased interest rule such as set out under Section 2.08(d) above in respect of any Lender if it has otherwise breached the Swiss Withholding Tax Rules or if it does not comply with the covenant provided for by Section 6.17.

  • For the avoidance of doubt, the Swiss Subsidiary Borrower shall be required to comply with the increased interest rule such as set out under Section 2.08(d) above in respect of any Lender if it has otherwise breached the Swiss Non-Bank Rules or if it does not comply with the covenant provided for by Section 6.17.

  • Swiss Subsidiary Borrower shall assume, for the purposes of determining the total number of creditors which are Non-Eligible Swiss 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 10 Non-Eligible Swiss Banks.


More Definitions of Swiss Subsidiary Borrower

Swiss Subsidiary Borrower has the meaning assigned to such term in the definition of “Credit Agreement” and shall include any successor thereto.
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Related to Swiss Subsidiary Borrower

  • Subsidiary Borrower means, individually and collectively, as the context requires, each Subsidiary that is or becomes a “Borrower” in accordance with Section 2.22; in each case, unless and until it becomes a “Terminated Subsidiary Borrower”.

  • Domestic Subsidiary Borrower any Subsidiary Borrower which is a Domestic Subsidiary.

  • Foreign Subsidiary Borrower means any Eligible Foreign Subsidiary that becomes a Foreign Subsidiary Borrower pursuant to Section 2.23 and that has not ceased to be a Foreign Subsidiary Borrower pursuant to such Section.

  • Subsidiary Borrowers as defined in the preamble hereto.

  • Swiss Borrower means a Borrower incorporated in Switzerland and/or having its registered office in Switzerland and/or qualifying as a Swiss resident pursuant to Art. 9 of the Swiss Federal Withholding Tax Act.

  • Foreign Borrower means any Borrower that is organized under the laws of a jurisdiction other than the Unites States, a state thereof or the District of Columbia.

  • Domestic Borrower means any Borrower organized under the laws of the United States of America or any state of the United States of America.

  • Canadian Borrower as defined in the preamble hereto.

  • Foreign Borrowers means the Canadian Borrower, the Dutch Borrower, and the U.K. Borrowers.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Borrowing Subsidiary means any Subsidiary that has been designated as such pursuant to Section 2.18 and that has not ceased to be a Borrowing Subsidiary as provided in such Section.

  • Domestic Loan Party means any Loan Party organized under the laws of any state of the United States of America or the District of Columbia.

  • UK Borrower means any Borrower (i) that is organized or formed under the laws of the United Kingdom or (ii) payments from which under this Agreement or any other Loan Document are subject to withholding Taxes imposed by the laws of the United Kingdom.

  • Canadian Subsidiary means any Subsidiary that is organized under the laws of Canada or any province or territory thereof.

  • Designated Borrower has the meaning specified in the introductory paragraph hereto.

  • German Borrower means (a) any Borrower that is a resident for tax purposes in Germany and (b) any Borrower in respect of which written notice is given to the Administrative Agent (by the Company) prior to that Borrower becoming a Borrower hereunder that such Borrower is resident in Germany for German tax purposes.

  • Domestic Credit Party means any Credit Party that is organized under the laws of any State of the United States or the District of Columbia.

  • Dutch Borrower means any Borrower that is organized under the Laws of The Netherlands.

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • U.S. Loan Party means any Loan Party that is organized under the laws of one of the states of the United States and that is not a CFC.

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

  • Qualified Borrower means any borrower that is a sponsoring entity that has a controlling interest in the real property that is financed by a qualified loan. A controlling interest includes, but is not limited to, a controlling interest in the general partner of a limited partnership that owns the real property.

  • Domestic Loan Parties means, collectively, the Company and the Guarantors.

  • Subsidiary Loan Party means each Subsidiary of the Borrower that is a party to the Guarantee Agreement.

  • UK Borrowers shall have the meaning assigned to such term in the preamble hereto.

  • Foreign Borrowing Base means, as of any date, an amount equal to: