Holder Rule definition

Holder Rule means the Federal Trade Commission Trade Regulation Rule Concerning the Preservation of Consumer’s Claims and Defenses that appears in 16 C.F.R. Part 433.
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Examples of Holder Rule in a sentence

  • So long as any of the Notes are Outstanding, and the Issuer is not subject to Section 13 or 15(d) of the Exchange Act, upon the request of a Noteholder, the Issuer shall promptly furnish at its expense to such Holder, and the prospective purchasers designated by such Holder, Rule 144A Information in order to permit compliance with Rule 144A under the Securities Act in connection with the resale of such Notes by such Holder.

  • So long as any of the Notes are Outstanding, and the Issuer is not subject to Section 13 or 15(d) of the Exchange Act, upon the request of a Noteholder, the Issuer shall promptly furnish at such Noteholder’s expense to such Holder, and the prospective purchasers designated by such Holder, Rule 144A Information in order to permit compliance with Rule 144A under the Securities Act in connection with the resale of such Notes by such Holder.

  • Holder Notice: I, {studentName}, understand that the following notice is applicable to this Payment Plan subject to the FTC Holder Rule under 16 CFR 433.2: NOTICE: ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF.

  • For example, but without limitation, MBNA may make adjustments to the Program to ensure that the Loan Accounts are open-end lines of credit under the Truth In Lending Act, as implemented by Regulation Z, and that the Loan Accounts offered under the Program are not covered by the Federal Trade Commission's "Holder Rule" (16 C.F.R. (S)443).

  • So long as any of the Notes are Outstanding, and the Issuers are not subject to Section 13 or 15(d) of the Exchange Act, upon the request of a Noteholder, the Issuers shall promptly furnish at their expense to such Holder, and the prospective purchasers designated by such Holder, Rule 144A Information in order to permit compliance with Rule 144A under the Securities Act in connection with the resale of such Notes by such Holder.

  • Similarly, Make School reports that 265 people participated in its bootcamps through 2019.74 Make School made certain changes to its ISA program in 2020,75 but before that time the funding amount of the Make School ISA was $60,000.76 It therefore appears that nearly $16 million of notional Make School ISA credit does not contain the relevant Holder Rule language.

  • As the agency ultimately responsible for the Holder Rule, the FTC should take steps to enforce it, including without limitation bringing enforcement actions against sellers who issue or accept ISAs to which the Holder Rule applies, and who have failed to include the required language.

  • However, reports indicate that Lambda School had 3,000 students enrolled in its program before certain students became ineligible for the company’s ISA product in 2020.72 Lambda School’s $30,000 funding amount for students implies that $90 million of notional ISA value is based on its contracts that do not contain language required by the Holder Rule.

  • This, of course, is completely contrary to the language and remedial purpose of the Holder Rule.

  • Finally, while it offers less data, Rithm School reports that it produced 53 graduates in the past six months.77 Given Rithm’s $24,000 funding amount for its ISA78 and the findings discussed above, it appears that Rithm produced almost $1.25 million in notional ISA credit based on contracts that lack required Holder Rule language just since September 2020.

Related to Holder Rule

  • ▇▇▇▇▇▇▇ Rule means Section 13 of the U.S. Bank Holding Company Act of 1956, as amended, and the applicable rules and regulations thereunder.

  • HIPAA Security Rule as defined in 45 CFR Part 164, Subparts A and C;

  • Regulatory Capital Treatment Event means the Corporation’s reasonable determination that as a result of any (i) amendment to, or change (including any announced prospective change) in, the laws or regulations of the United States or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any shares of Series N Preferred Stock; (ii) proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any shares of Series N Preferred Stock; or (iii) official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations that is announced after the initial issuance of any shares of Series N Preferred Stock, there is more than an insubstantial risk that the Corporation will not be entitled to treat the full liquidation preference amount of all shares of Series N Preferred Stock then outstanding as Tier 1 capital (or its equivalent) for purposes of the capital adequacy guidelines or regulations of the appropriate federal banking agency, as then in effect and applicable, for as long as any share of Series N Preferred Stock is outstanding.

  • Forced or indentured child labor means all work or service—

  • IRS Ruling shall have the meaning set forth in the Recitals.