Banking Law Sample Clauses

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 Agent is required to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Agent. Accordingly, each of the parties hereto agrees to provide to the 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 Agent to comply with 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 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. 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.

Related to Banking Law

  • Bank The Buyer (a) is a national bank or banking institution organized under the laws of any State, territory or the District of Columbia, the business of which is substantially confined to banking and is supervised by the State or territorial banking commission or similar official or is a foreign bank or equivalent institution, and (b) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statements, a copy of which is attached hereto.

  • Japan (i) The Securities have not been and will not be registered under the Financial Instruments and Exchange Law of Japan (the “FIEA”). Each Underwriter represents and agrees that it has not and will not offer or sell, directly or indirectly, any of the Securities in Japan or to, or for the account or benefit of, any resident of Japan (including any corporation or other entity organized under the laws of Japan), or to, or for the account or benefit of, any resident of Japan for reoffering or resale, directly or indirectly, in Japan or to, or for the account or benefit of, any resident of Japan except (1) pursuant to an exemption from the registration requirements of, or otherwise in compliance with, the FIEA and (2) in compliance with any other applicable laws, regulations and governmental guidelines of Japan.

  • Banking All funds of the Company will be deposited in a separate bank account or in an account or accounts of a savings and loan association in the name of the Company as determined by a Majority of the Members. Company funds will be invested or deposited with an institution, the accounts or deposits of which are insured or guaranteed by an agency of the United States government.

  • International Processing 8.1. Conditions for International Processing SAP shall be entitled to process Personal Data, including by using Subprocessors, in accordance with this DPA outside the country in which the Customer is located as permitted under Data Protection Law.

  • International Standards 1. Each Party shall use relevant international standards, guides, and recommendations, to the extent provided in Articles 2.4 and 5.4 of the TBT Agreement, as a basis for its technical regulations and conformity assessment procedures. 2. In determining whether an international standard, guide, or recommendation for purposes of Articles 2, 5, and Annex 3 of the TBT Agreement exists, each Party shall apply Decision of the Committee on Principles for the Development of International Standards, Guides and Recommendations with relation to Articles 2, 5 and Annex 3 of the Agreement (Annex 4 to G/TBT/9), adopted on November 13, 2000 by the WTO Committee on Technical Barriers to Trade.

  • Mexico Derivado de lo anterior, el Empleado expresamente reconoce que el Plan y los beneficios que pudieran derivar de la participación en el Plan no establecen derecho alguno entre el Empleado y el Patrón, Xxxxxxxx-Xxxxx de Mexico, S.A. de C.V. y no forma parte de las condiciones de trabajo y/o las prestaciones otorgadas por Xxxxxxxx-Xxxxx de Mexico, S.A. de C.V. y que cualquier modificación al Plan o su terminación no constituye un cambio o impedimento de los términos y condiciones de la relación de trabajo del Empleado. Asimismo, el Empleado reconoce que su participación en el Plan es resultado de una decisión unilateral y discrecional de Xxxxxxxx-Xxxxx Corporation por lo tanto, Xxxxxxxx-Xxxxx Corporation se reserva el absoluto derecho de modificar y/o terminar la participación del Empleado en cualquier momento y sin responsabilidad alguna frente el Empleado. Finalmente, el Empleado por este medio declara que no se reserva derecho o acción alguna que ejercitar en contra de Xxxxxxxx-Xxxxx Corporation por cualquier compensación o daño en relación con las disposiciones del Plan o de los beneficios derivados del Plan y por lo tanto, el Empleado otorga el más amplio finiquito que en derecho proceda a Xxxxxxxx-Xxxxx Corporation , sus afiliadas, subsidiarias, oficinas de representación, sus accionistas, funcionarios, agentes o representantes legales en relación con cualquier demanda que pudiera surgir.