Common use of REGULATION GG Clause in Contracts

REGULATION GG. The Administrator hereby represents and warrants that it does not engage in an “Internet gambling business,” as such term is defined in Section 233.2(r) of Federal Reserve Regulation GG (12 CFR 233) (“Regulation GG”). The Administrator hereby covenants and agrees that it shall not engage in an Internet gambling business. In accordance with Regulation GG, the Administrator is hereby notified that “restricted transactions,” as such term is defined in Section 233.2(y) of Regulation GG, are prohibited in any dealings with the Sub-Administrator pursuant to this Agreement or otherwise between the parties hereto.