LENDING POLICY Sample Clauses

LENDING POLICY. (1) Within sixty (60) days, the Board shall review and revise the Bank's written loan policy. In revising this policy, the Board shall refer to the Loan Portfolio Management booklet, A-LPM, of the Comptroller’s Handbook. This policy shall incorporate, but not necessarily be limited to, the following:
LENDING POLICY. (1) Within sixty (60) days, the Board shall review and revise the Association’s written loan policy. In revising this policy, the Board shall refer to 12 C.F.R. §§ 160.93 and 160.170 (Lending Limitations and Records for Lending Transactions). This policy shall incorporate, but not necessarily be limited to, the following:
LENDING POLICY. (1) Within ninety (90) days, the Board shall review and revise the Bank's written loan policy and construction underwriting standards. In revising the loan policy and underwriting standards, the Board shall refer to the Loan Portfolio Management and Commercial Real Estate and Construction Lending booklets of the Comptroller’s Handbook. The loan policy (letters a – o below) and construction underwriting standards (letters p – s below) shall incorporate, but not necessarily be limited to, the following:
LENDING POLICY. (1) Within ninety (90) days, the Board shall ensure the review and revision of the Bank's written loan policy and underwriting guidelines. In revising this policy, Bank management shall refer toLoan Portfolio Management”, “Commercial Real Estate and Construction Lending”, “Concentrations of Credit”, and “Accounts Receivable and Inventory Financingbooklets of the Comptroller’s Handbook. This policy shall incorporate, but not necessarily be limited to, the following:
LENDING POLICY. The Lending Policies attached hereto as Attachment 5 are hereby incorporated herein as the applicable Lending Policies as of the date hereof, and the Lending Policies, as amended from time to time, is also hereby incorporated as part of this Servicing Agreement. The Lending Policies must be able to be reasonably administered by the Servicer, be consistent with the provisions of this Servicing Agreement, the Act, Regulations, and the Program Rules (as applicable) and cannot be amended without sufficient prior notice to the Servicer to allow implementation of any servicing modifications. The Lending Policies will be reviewed and updated by the Bank if deemed necessary on at least an annual basis or as required by the Act or the Regulations or as any Program Rule changes may occur. To the extent that a change in the Bank’s Lending Policies require the Servicer to implement material operational changes or systems modifications, the cost of such changes and modifications may be borne by the Bank.
LENDING POLICY. (1) Within ninety (90) days, the Board shall revise the Bank's written loan policy to implement the specific actions needed to improve the lending policy outlined in the Matters Requiring Board Attention of the December 31, 2007 Report of Examination and any subsequent Report of Examination. Those revisions shall address:
LENDING POLICY. All Local Authorities that borrow from the Company will: ◼ Provide debenture security in relation to their borrowing from the Company and related obligations, and (if relevant), equity commitment liabilities to the Company and (if relevant) guarantee liabilities to a security trustee approved for the Company's creditors. ◼ Issue securities (bonds / FRNs / CP) to the Company and/or enter into facility arrangements with the Company. ◼ Comply with their own internal borrowing policies. ◼ Comply with the financial covenants outlined in the following table, provided that: ◼ Unrated Local Authorities or Local Authorities with a long-term credit rating lower than ‘A’ equivalent can have bespoke financial covenants that exceed the:  Lending policy covenants outlined in the following table with the approval of the Board;  Foundation policy covenants outlined in the following table with the approval of an Ordinary Resolution. ◼ Local Authorities with a long-term credit rating of ‘A’ equivalent or higher will not be required to comply with the lending policy covenants in the following table, and can have bespoke financial covenants that exceed the foundation policy covenants outlined in the following table with the approval of an Ordinary Resolution. ◼ Any Board or Ordinary Resolution approval of bespoke financial covenants will only be provided after a robust credit analysis and any approval must also include bespoke reporting and monitoring arrangements. ◼ If the principal amount of a Local Authority's borrowings or the Company's commitment under a facility agreement with a Local Authority is at any time greater than NZD 20 million, be a party to a deed of guarantee and an equity commitment deed (in each case in a form set by the Company). Financial covenant Lending policy covenants Foundation policy covenants Net Debt / Total Revenue <175% <250% Net Interest / Total Revenue <20% <20% Net Interest / Annual Rates Income <25% <30% Liquidity >110% >110% Total Revenue is defined as cash earnings from rates, grants and subsidies, user charges, interest, dividends, financial and other revenue and excludes non government capital contributions (e.g. developer contributions and vested assets). Net debt is defined as total debt less liquid financial assets and investments. Liquidity is defined as external debt plus committed loan facilities plus liquid investments divided by external debt. Net Interest is defined as the amount equal to all interest and financing costs less...
LENDING POLICY. (1) Within one hundred twenty (120) days, the Board shall review and revise the Bank's written loan policy. In revising this policy, the Board shall refer to the following booklets of the Comptroller's Handbook in developing policies for overall loan administration and specific types of lending; Loan Portfolio Management, A-LPM; Commercial Real Estate and Construction Lending, A-CRE; Agricultural Lending, A-AL; and Commercial Lending, A-CL.
LENDING POLICY. (1) Within sixty (60) days from the date of this Agreement, the Board shall review and revise the Bank's written loan policy in accordance with 12 C.F.R. §§ 160.101 and 160.170. The revised policy shall incorporate, at a minimum, the following: