Regulation O Clause Samples
Regulation O is a clause that governs the extension of credit by banks to their executive officers, directors, and principal shareholders. It sets specific limits and conditions on loans to these insiders, requiring banks to follow strict approval processes and reporting requirements to prevent preferential treatment. The core function of this clause is to ensure fair lending practices within financial institutions and to mitigate the risk of conflicts of interest or self-dealing by those in positions of authority.
Regulation O. No director, executive officer or principal shareholder of any Borrower is a "director," "executive officer" or "principal shareholder" of any Lender, as such terms are used in Regulation O of the Board of Governors of the Federal Reserve System, as amended.
Regulation O. Executive will not be an “executive officer” for purposes of Federal Reserve Board Regulation O.
Regulation O. Except as set forth in the Falcon Disclosure Schedule, Falcon Bank has no loans to any "principal shareholder," "director" or "executive officer," or to any "related interest" of any such person, as such terms are defined in Regulation O promulgated by the FRB.
Regulation O. To the best of the Borrower's knowledge, (i) no Person is a director or executive officer of the Borrower or any of its Subsidiaries, owning more than 10% of any class of voting securities of the Borrower, and (ii) no Person owning more than 10% of any class of voting securities of the Borrower and is the largest shareholder of that class of securities of the Borrower, is a director, executive officer or principal shareholder of any Lender or any Affiliate of any Lender.
Regulation O. Except as otherwise disclosed in writing to the Parent on or prior to the date hereof, the Company and its Subsidiaries have made no loan which is subject to Regulation O promulgated by the Board of Governors of the Federal Reserve System.
Regulation O. No person who may be deemed to have "control" of any Company is an "executive officer," "director," or "principal shareholder" of Agent or any Lender or any correspondent of Agent or any Lender, as such quoted terms are defined in section 215.2 of Regulation O of the Board of Governors of the Federal Reserve System, as amended.
Regulation O. At a minimum, the Compliance Committee shall meet at least monthly, keep detailed minutes of each meeting, and report its findings to the board of directors on a monthly basis.
Regulation O. The Credit Parties hereby represent and warrant that no director, executive officer or principal shareholder of any Credit Party is a director, executive officer or principal shareholder of any Lender. For the purposes hereof the terms "director", "
Regulation O. At a minimum, the Compliance Committee shall meet at least monthly, keep detailed minutes of each meeting, and report its findings to the board of directors on a monthly basis.
Regulation O. Except as set forth in the Falcon Disclosure Schedule, Falcon Bank has no loans to any "principal shareholder," "director" or "executive officer," or to any "related interest" of any such person, as such terms are defined in Regulation O promulgated by the FRB.