Reg U definition
Examples of Reg U in a sentence
No proceeds of the Loans shall be used in violation of Reg U or any successor regulation thereof or of any other rule, statute or regulation governing margin stock from time to time.
If proceeds of the Borrowings are used for a purpose which is governed by Reg U, the Borrower shall comply with Reg U in all respects.
If proceeds of the Credit Extensions are used for a purpose which is governed by Reg U, Borrowers shall comply with Reg U in all respects.
The Borrower is not engaged or will engage, principally or as one of its important activities, in extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Reg U).
No Borrower is engaged or will engage, principally or as one of its important activities, in extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Reg U).
NoThe Borrower is not engaged or will engage, principally or as one of its important activities, in extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Reg U).
The benefits of the security in Collateral other than Margin Stock Collateral created by the Security Documents and the benefits of any security in Collateral other than Margin Stock Collateral created by this Agreement, shall be allocated first to the benefit and security of the payment of the Non-Reg U Amounts and second, only after the payment in full of the Non Reg-U Amounts, to the benefit and security of the payment of the Reg U Amounts.
The Borrower (i) has been duly registered with the SEC as a registered broker dealer and the CFTC as a futures commission merchant, (ii) is approved as a clearing corporation of DTC and the National Securities Clearing Corporation, (iv) is an “exempted borrower” within the meaning of Reg U of the Board of Governors of the Federal Reserve System, and (v) is excluded as a “Legal Entity Customer” for purposes of the beneficial ownership rule under 31 CFR 1010.230.
If proceeds of the Credit Extensions are used for a purpose which is governed by Reg U, Borrowersthe Borrower shall comply with Reg U in all respects.
Following this transaction, no more than twenty-five percent (25%) (or such lesser percentage as may be established from time to time under Reg U or any successor statute) of the assets of Borrowers and their Subsidiaries, subject to any restriction on sale or pledge, will consist of, or be represented by margin stock.