Common use of CONNECTED PARTIES Clause in Contracts

CONNECTED PARTIES. To enable the Owner to comply with IFSA and the BNM Guidelines on Credit Transactions and Exposures with Connected Parties (“Guidelines”), the Hirer shall declare to the Owner whether the Hirer is a connected party under the Guidelines, which includes but is not limited to, a spouse, child, parent or financial dependent of the Owner’s Director, Executive Officer or credit-approving/appraising/reviewing officer or in the case of a corporate/business-customer, includes an entity controlled by such abovementioned persons of the Owner. If at any time the Hirer becomes a connected person, the Hirer must notify the Owner immediately. The Owner reserves the right to terminate this Agreement in the event the Hirer fails to make the appropriate or correct declaration resulting in the Owner contravening the IFSA or the said Guidelines.

CONNECTED PARTIES. To enable the Owner to comply with IFSA the Financial Services Xxx 0000 (“FSA”) and the BNM Guidelines on Credit Transactions and Exposures with Connected Parties (“Guidelines”), the Hirer shall declare to the Owner whether the Hirer is a connected party under the Guidelines, which includes but is not limited to, to a spouse, child, parent or financial dependent dependant of the Owner’s Director, Executive Officer or credit-approving/appraising/reviewing officer or in the case of a corporate/business-business customer, includes an entity controlled by such abovementioned persons of the Owner’s. If at any time the Hirer becomes a connected person, the Hirer must notify the Owner immediately. The Owner reserves the right to terminate this Agreement in the event the Hirer fails to make the appropriate or correct declaration resulting in the Owner contravening the IFSA FSA or the said Guidelines.