Common use of Lending and Auction Regulatory Matters Clause in Contracts

Lending and Auction Regulatory Matters. (a) Except as set forth in Disclosure Schedule (3.13(a)), each Credit Party that makes or owns Art Loans is in material compliance with, and each Art Loan has been made and remains in material compliance with, all applicable provisions of federal, state, local and foreign laws imposed upon lenders with respect to consumer or commercial lending, usury or other limitations on interest, finance charges, or other charges, finance company or other lender licensing, consumer or commercial credit disclosure, consumer or commercial credit collection practices, and similar laws and regulations.

Lending and Auction Regulatory Matters. (a) Except as set forth in Disclosure Schedule (3.13(a)), each Credit Party that makes or owns Art Loans is in material compliance with, and each Art Loan has been made or generated, as applicable, and remains in material compliance with, all applicable provisions of federal, state, local and foreign laws imposed upon lenders with respect to consumer or commercial lending, usury or other limitations on interest, finance charges, or other charges, finance company or other lender licensing, consumer or commercial credit disclosure, consumer or commercial credit collection practices, and similar laws and regulations.