Bank Regulators Sample Clauses

The 'Bank Regulators' clause defines the rights and obligations of the parties in relation to oversight or intervention by banking regulatory authorities. It typically outlines procedures to follow if a bank regulator requires disclosure of information, imposes restrictions, or mandates changes to the agreement. For example, the clause may require parties to promptly notify each other if a regulator raises concerns or to cooperate in providing necessary documentation. Its core function is to ensure compliance with regulatory requirements and to allocate responsibilities in the event of regulatory action, thereby reducing legal and operational risks associated with non-compliance.