Banking Law. To indemnify Indemnitee to the extent that such indemnification is not permitted pursuant to any applicable banking laws, regulations, rules or policies including without limitation 12 U.S.C. §1828(k) and 12 C.F.R. Part 359 or is prohibited by any banking regulator with jurisdiction over the Corporation.
Banking Law. In order to comply with laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering (“Banking Law”), the Administrative Agent is required to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Administrative Agent. Accordingly, each of the parties hereto agrees to provide to the Administrative Agent upon its request from time to time such identifying information and documentation as may be available for such party in order to enable the Administrative Agent to comply with Banking Law.
Banking Law the Banking Law Act of 29 August 1997 or any law replacing said act;
Banking Law. [Polish] Act dated 29 August 1997 – Banking Law.
Banking Law. ‘A Bank may charge additional interest on the interest and the aggregate interest received by the Bank shall not be limited to the principal amount of the extended credit.’ This provision is understood to exempt banks from interest rate caps and permits them to charge interest at a higher rate, without being subject to the seven per cent cap. The application of the exemption in Article 27(1)(b) Banking Law to international transactions is not entirely clear. According to a prevalent opinion in Iraqi practice, however, the exemption only applies to Iraqi regulated banks. This follows from the scope of application of the Banking Law, which, according to the present practice of the Iraqi Central Bank, is limited to banks licensed pursuant to the Banking Law with operations in Iraq; so far, the Central Bank has been very reluctant to subject financial institutions that are only active in the cross-border business to regulation in Iraq. If the exemption from the interest rate cap is tied to being regulated in Iraq, then it will not apply to such foreign financial institutions, which are active in Iraq only in cross-border transactions. In addition, the exemption will only apply to regulated financial institutions. Financing providers that do not qualify as a financial institution in the technical sense – such as an equity investor granting a shareholder loan, or a supplier extending a credit line to its customer – do not fall under the exemption. This means that regularly financing parties in international transactions will not benefit from the exemption granted by the Banking Law. Application of iraqi interest-rate caps by a court or arbitration tribunal outside iraq Among the most controversial issues is whether the interest-rate caps must also be applied by a court or arbitration tribunal outside Iraq as mandatory rules which restrict performance of the financing agreement. If, for instance, an interest claim is enforced in the courts of London, New York or Frankfurt, will the respective English or German court be bound by the seven per cent limit in Article 172(1) of the Iraqi Civil Code? Will the position be different in arbitration? It should be noted that debtors regularly invoke this defence, and there is a number of more recent English precedents where the courts had to decide whether to consider an (alleged) prohibition of or restriction on interest in the jurisdiction of performance.3 The answer will depend on the conflict of law rules applicable to ...
Banking Law. Except for (i) an order dated May 28, 2003 and issued by the Nebraska State Department of Banking and Finance approving the Bank’s application to convert its national credit card bank charter to a Nebraska credit card bank charter and (ii) an order dated February 6, 2001 and issued by the FDIC approving the Bank’s application for federal deposit insurance, neither the Company nor the Bank is subject to any order of the Federal Reserve Board (the “Federal Reserve”), the FDIC, the Office of the Comptroller of the Currency (the “OCC”), the Nebraska State Department of Banking and Finance or any state or foreign banking department with jurisdiction over the Company or the Bank or their respective operations. Neither the Company nor the Bank is subject to any agreement or consent related to compliance with banking laws and regulations with, or any board resolution adopted at the instigation of, any such regulatory authorities. The Company and the Bank have conducted and are conducting their respective businesses in compliance, in all material respects, with all applicable federal, foreign and state laws, rules, regulations, decisions, directives and orders of, and agreements with, the Federal Reserve, the FDIC, the OCC, the Nebraska State Department of Banking and Finance and any state or foreign banking departments with jurisdiction over the Company or the Bank or their respective operations (collectively, “Banking Laws”). No material charge, investigation or proceeding with respect to the Bank is pending or, to the best knowledge of the Company, threatened or contemplated, by or before any regulatory, administrative or governmental agency, body or authority.
