Relationship Characteristics Sample Clauses

Relationship Characteristics. Relationship characteristics control for information and experience effects and are therefore central to our analysis. The first characteristic in this category, Main Bank, indicates whether this bank considers itself to be the main bank of that firm or not. The definition used by the bank to determine whether it is the main bank is “having a monthly ‘turnover’ on the current account of at least BEF 100,000 (U.S. Dollar 2,500),38 and buying at least two products from that bank”. More than half of all borrowers are classified as Main Bank customers. Main Bank captures the scope of the relationship (that is, whether this firm also buys other products from this bank and executes most of its payments via this bank). If these sources of information improve the accuracy of the bank’s information or reduce the monitoring costs, then the measure Main Bank should reduce the expected cost of such loans.39 But Main Bank also proxies for the exclusivity of the relationship and the resulting lack of information a borrower has about alternatives.40 In that case, a main bank customer will pay a higher loan rate. The second relationship variable is the Duration of the Relationship in years with that particular bank at the time the loan rate is decided upon. A relationship starts when a firm buys for the first time a product from that bank. The average duration of the relationship in the sample is about eight years. Duration proxies for the increased time for a firm to experience the banks’ products and to appreciate the added flexibility the bank has to maintain and fulfill implicit contracts. While the bank gains private information about a firm to tailor its products, the firm may also become locked-in. In that case, a long-term bank customer may end up paying a higher loan rate.
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Relationship Characteristics. We now report the empirical results concerning the role of relationships. The impact of the bank-firm relationship is captured in two complementary ways. Our first indicator of relationship strength, Main Bank, measures the scope of the bank-firm relationship. The loan rate decreases with the scope of the relationship. The results show that a firm pays 41 basis points less when the scope of a relationship is sufficiently broad (Main Bank = 1).50 The second indicator is the Duration of the Relationship between the lending bank and the borrower. We take the log of (one plus) the Duration of the Relationship, as we expect the marginal impact on the loan rate to decrease with the duration of the financial relationship. Table 6 shows that the loan rate increases with the duration of the relationship. This result was also documented and discussed in Degryse and Xxx Xxxxxxxx (2000). For example, an increase in duration from the median (7.5 years) to the median plus one standard deviation (13 years) increases the loan rate by 10 basis points.

Related to Relationship Characteristics

  • Scope of Relationship The parties agree that the relationship established by this Agreement is non-exclusive. Without limiting the foregoing and subject to the provisions of Sections 14 and 20 of this Agreement, each party hereto is expressly permitted, without the need for obtaining any further consent or approval from the other party hereto, to market, offer, sell, broker, underwrite and/or provide other products and services, including, without limitation, any other loan products and services and specifically including, without limitation, any loan products and services similar in scope and nature to the Loans and the related services contemplated by the Program Guidelines, through any of their respective distribution channels and the distribution channels of their respective Third Party Service Providers, including, without limitation, any of such distribution channels through which Loans are offered pursuant to this Agreement.

  • Reporting Relationship Executive shall report to the Company’s chief executive officer.

  • Relationship to Other Agreements You agree that when you use Mobile Banking, you will remain subject to the terms and conditions of all your existing agreements with us or any service providers of yours; including service carrier or provider and that this Agreement does not amend or supersede any of those agreements. You understand that those agreements may provide for fees, limitations and restrictions which might impact your use of Mobile Banking (for example, your mobile service carrier or provider may impose data usage or text message charges for your use of or interaction with Mobile Banking, including while downloading the Software, receiving or sending Mobile Banking text messages, or other use of your Wireless device when using the Software or other products and services provided by Mobile Banking), and you agree to be solely responsible for all such fees, limitations and restrictions. You agree that only your mobile service carrier or provider is responsible for its products and services. Accordingly, you agree to resolve any problems with your carrier or provider directly with your carrier or provider without involving us. You also agree that if you have any problems with Mobile Banking, you will contact us directly.

  • Relationships Nothing contained in this Agreement shall be deemed to constitute either party a partner, joint venturer or employee of the other party for any purpose.

  • Relationship The relationship of the parties to this Agreement is determined solely by the provisions of this Agreement. The parties do not intend to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties or incidents different from those of parties to an arm’s-length contract.

  • Acknowledgement of Services and Responsibility of the Manager The Resident acknowledges that neither the Manager nor the Institution stands in loco parentis with respect to the Resident. The Residence provides living accommodations for independent students who are to be responsible and accountable for their personal needs and their interactions with their fellow residents as opposed to residential care. The Manager is responsible for the maintenance and operation of the residence. The Manager, in consultation with the Institution, may from time to time, in its sole and unfettered discretion, establish and/or amend policies, protocols and guidelines to uphold and ensure compliance with the standards set forth by the Manager, all of which will constitute part of the Residence Community Living Standards or Institution Code of Conduct, as appropriate. The Resident hereby acknowledges and agrees that they are solely responsible for their compliance with / review of such policies, protocols and guidelines (as may be created, amended, revised or restated by the Manager) found at xxx.xxxxxxxxxxxxxxxxx.xx.

  • RELATIONSHIP OF THE PARTIES/INDEPENDENT CONTRACTOR 27.1 Each Party is an independent contractor, and has and hereby retains the right to exercise full control of and supervision over its own performance of its obligations under this Agreement and retains full control over the employment, direction, compensation and discharge of its employees assisting in the performance of such obligations. Each Party and each Party's contractor(s) shall be solely responsible for all matters relating to payment of such employees, including the withholding or payment of all applicable federal, state and local income taxes, social security taxes and other payroll taxes with respect to its employees, as well as any taxes, contributions or other obligations imposed by applicable state unemployment or workers' compensation acts and all other regulations governing such matters. Each Party has sole authority and responsibility to hire, fire and otherwise control its employees.

  • Parties’ Relationship The parties to the Agreement are independent parties. BNY Mellon, in furnishing the Services, is acting as an independent contractor. BNY Mellon has the sole right and obligation to supervise, manage, contract, direct, procure, perform or cause to be performed, all work to be performed by BNY Mellon and its employees, agents, independent contractors and other representatives under the Agreement. At no time shall any such individuals represent himself or herself as an employee of a Fund or be considered an employee of a Fund. BNY Mellon is not a joint venturer with, nor an employee, agent or partner of the Funds and has no authority to represent or bind the Funds as to any matters.

  • Business Relationship The relationship between a landlord and tenant is a business relationship. A courteous and businesslike attitude is required from both parties. We reserve the right to refuse rental to anyone who is verbally abusive, swears, is disrespectful, makes threats, is under the influence, is argumentative, or in general displays an attitude at the time of the unit showing and application process that causes management to believe we would not have a positive business relationship.

  • Relationship Management LAUSD expects Contractors and their Representatives to ensure that their business dealings with and/or on behalf of LAUSD are conducted in a manner that is above reproach.

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