International Banking Facility. The Borrowers, entities located outside the United States of America, understand that it is the policy of the Board of Governors of the U.S. Federal Reserve System that extensions of credit by international banking facilities, such as the Loan hereunder, may be used to finance the non-U.S. operations of the Borrowers or the Borrower’s Affiliates located outside the United States.
International Banking Facility. Each Lender may book extensions of credit hereunder on the books and records of its international banking facility, which will constitute an extension of credit within the meaning of Section 204.8(a)(3) of Regulation D of the Board of Governors of the Federal Reserve System (“Regulation D”). Accordingly, pursuant to Regulation D, the Borrower acknowledges that the Lenders have notified the Borrower that it is the policy of the Board of Governors of the Federal Reserve System that extensions of credit by international banking facilities may be used only to finance operations outside the United States of the Borrower or of its Affiliates located outside the United States. The Borrower hereby agrees to comply with such policy.
International Banking Facility. In any case, the insurance of the Overseas Private Investment Corporation (OPIC) shall not cover Banca Promerica.
International Banking Facility. (1) Within ninety (90) days of the date of this Agreement, the General Manager, with approval of the Board, shall develop, implement, and thereafter ensure the Branches adherence to a written program of policies and procedures to establish lines of credit with their International Banking Facility (“IBF”) and an expanded audit program that includes:
International Banking Facility. (IBF) Time Deposits If a Time Deposit is established in DI’s International Banking Facility (IBF), federal regulations require a minimum maturity or required notice period prior to withdrawal, of two (2) Business Days. Additionally, federal regulations will not permit a deposit or withdrawal of less than US$100,000 except withdrawal of interest earned or to close the Account. It is policy of the Board of Governors of the Federal Reserve System that, with respect to non-bank customers, deposits received by International Banking Facilities may be used only to support the non-U.S. operations of a depositor (or its foreign affiliates), located outside of the United States and that extensions of credit by International Banking Facilities may be used only to finance the non-U.S. operations of a customer (or its foreign affiliate) located outside of the U.S.
