Subsection (2) definition

Subsection (2). Credit agreement" means an agreement by a financial institution to: lend, delay, or otherwise modify an obligation to repay money, goods, or things in action; otherwise extend credit; or make any other financial accommodation. "Credit agreement" does not include the usual and customary agreements related to deposit accounts or overdrafts or other terms associated with deposit accounts or overdrafts. "Creditor" means a financial institution which extends credit or extends a financial accommodation under a credit agreement with a debtor. "Debtor" means a person who seeks or obtains credit, or seeks or receives a financial accommodation, under a credit agreement with a financial institution. "Financial institution" means: a state or federally chartered: bank; savings and loan association; savings bank; industrial bank; or credit union; or any other institution under the jurisdiction of the commissioner of Financial Institutions as provided in Title 7, Financial Institutions Act. Except as provided in Subsection (2)(e), a debtor or a creditor may not maintain an action on a credit agreement unless the agreement: is in writing; expresses consideration; sets forth the relevant terms and conditions; and is signed by the party against whom enforcement of the agreement would be sought. For purposes of this act, a signed application constitutes a signed agreement, if the creditor does not customarily obtain an additional signed agreement from the debtor when granting the application. The following actions do not give rise to a claim that a credit agreement is created, unless the agreement satisfies the requirements of Subsection (2)(b): the rendering of financial advice by a creditor to a debtor; the consultation by a creditor with a debtor; or the creation for any purpose between a creditor and a debtor of fiduciary or other business relationships. Each credit agreement shall contain a clearly stated typewritten or printed provision giving notice to the debtor that the written agreement is a final expression of the agreement between the creditor and debtor and the written agreement may not be contradicted by evidence of any alleged oral agreement. The provision does not have to be on the promissory note or other evidence of indebtedness that is tied to the credit agreement. A credit agreement is binding and enforceable without any signature by the party to be charged if: the debtor is provided with a written copy of the terms of the agreement; the agreement provide...
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Subsection (2). 06 Procedures With Respect to Eurodollar Loans . . . . . . . . . . . . . . . . 12 Subsection 2.07 Certain Matters With Respect to Loans 13 Subsection 2.08 Conditions to Each Loan . . . . .
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Examples of Subsection (2) in a sentence

  • Where applicable, the employee contribution as stipulated in the preceding paragraph shall be adjusted through the application of the second paragraph of Article 27.03, Subsection 2).

  • B) The operation of Subsection 2 of Section 50 of the Labour Relations Code of British Columbia (or any succeeding Acts) is specifically excluded from this Agreement.

  • This employee contribution shall include the employee contribution specified in the first paragraph of Article 27.03, Subsection 2).

  • Within ten (10) business days from receipt of Management's written decision, if the matter is not satisfactorily resolved, and if the disagreement meets the requirements of Section 8, Subsection 2 of Article 11 the disagreement may be submitted to arbitration in accordance with the provisions of Section 8 of Article 11 of this Memorandum of Understanding.

  • Failure to make any monthly premium payment or contribution in accordance with Subsection 2.

  • It is agreed that the operation of Subsection 2 of Section 50 of the Labour Relations Code of British Columbia is excluded from this Agreement.

  • Accordingly, the parties hereby waive the provisions of California Civil Code Section 1932, Subsection 2, and Section 1933, Subsection 4 (and any successor statutes thereof permitting the parties to terminate this Lease as a result of any damage or destruction).

  • The Group may terminate this Group Agreement upon 15 days written notice of premium increase, as set forth in Subsection 2.

  • Executive understands and agrees that EDS would be irreparably damaged in the event that the provisions of Subsection 2 of Section III of this Agreement are violated, and agrees that EDS shall be entitled (in addition to any other remedy to which it may be entitled, at law or in equity) to an injunction or injunctions to redress breaches of this Agreement and to specifically enforce the terms and provisions hereof.

  • The Contracting Parties declare that the provisions of Sections 1766, 1799, 1800 and 1805 Subsection 2 of the Civil Code shall not be applied to this Agreement.