LENDING POLICY. (1) Within sixty (60) days, the Board shall review and revise the Bank's written loan policy. In revising this policy, the Board shall refer to the Loan Portfolio Management booklet, A-LPM, of the Comptroller’s Handbook. This policy shall incorporate, but not necessarily be limited to, the following:
LENDING POLICY. (1) Within sixty (60) days, the Board shall review and revise the Association's written loan policy. In revising this policy, the Board shall refer to 12 C.F.R. § 160.93 (Lending Limitations). This policy shall incorporate, but not necessarily be limited to, the following:
LENDING POLICY. The Lending Policies attached hereto as Attachment 5 are hereby incorporated herein as the applicable Lending Policies as of the date hereof, and the Lending Policies, as amended from time to time, is also hereby incorporated as part of this Servicing Agreement. The Lending Policies must be able to be reasonably administered by the Servicer, be consistent with the provisions of this Servicing Agreement, the Act, Regulations, and the Program Rules (as applicable) and cannot be amended without sufficient prior notice to the Servicer to allow implementation of any servicing modifications. The Lending Policies will be reviewed and updated by the Bank if deemed necessary on at least an annual basis or as required by the Act or the Regulations or as any Program Rule changes may occur. To the extent that a change in the Bank’s Lending Policies require the Servicer to implement material operational changes or systems modifications, the cost of such changes and modifications may be borne by the Bank.
LENDING POLICY. All Local Authorities that borrow from the Company will: ◼ Provide debenture security in relation to their borrowing from the Company and related obligations, and (if relevant), equity commitment liabilities to the Company and (if relevant) guarantee liabilities to a security trustee approved for the Company's creditors. ◼ Issue securities (bonds / FRNs / CP) to the Company and/or enter into facility arrangements with the Company. ◼ Comply with their own internal borrowing policies. ◼ Comply with the financial covenants outlined in the following table, provided that: ◼ Unrated Local Authorities or Local Authorities with a long-term credit rating lower than ‘A’ equivalent can have bespoke financial covenants that exceed the: Lending policy covenants outlined in the following table with the approval of the Board; Foundation policy covenants outlined in the following table with the approval of an Ordinary Resolution. ◼ Local Authorities with a long-term credit rating of ‘A’ equivalent or higher will not be required to comply with the lending policy covenants in the following table, and can have bespoke financial covenants that exceed the foundation policy covenants outlined in the following table with the approval of an Ordinary Resolution. ◼ Any Board or Ordinary Resolution approval of bespoke financial covenants will only be provided after a robust credit analysis and any approval must also include bespoke reporting and monitoring arrangements. ◼ If the principal amount of a Local Authority's borrowings or the Company's commitment under a facility agreement with a Local Authority is at any time greater than NZD 20 million, be a party to a deed of guarantee and an equity commitment deed (in each case in a form set by the Company). Financial covenant Lending policy covenants Foundation policy covenants Net Debt / Total Revenue <175% <250% Net Interest / Total Revenue <20% <20% Net Interest / Annual Rates Income <25% <30% Liquidity >110% >110% Total Revenue is defined as cash earnings from rates, grants and subsidies, user charges, interest, dividends, financial and other revenue and excludes non government capital contributions (e.g. developer contributions and vested assets). Net debt is defined as total debt less liquid financial assets and investments. Liquidity is defined as external debt plus committed loan facilities plus liquid investments divided by external debt. Net Interest is defined as the amount equal to all interest and financing costs less...
LENDING POLICY. (1) Within ninety (90) days, the Board shall review and revise the Bank's written loan policy and construction underwriting standards. In revising the loan policy and underwriting standards, the Board shall refer to the Loan Portfolio Management and Commercial Real Estate and Construction Lending booklets of the Comptroller’s Handbook. The loan policy (letters a – o below) and construction underwriting standards (letters p – s below) shall incorporate, but not necessarily be limited to, the following:
LENDING POLICY. (1) The parties acknowledge that the Bank has forwarded its revised and updated loan policy to the Assistant Deputy Comptroller for review and determination of no supervisory objection.
LENDING POLICY. Each library will maintain on the TexShare Web a current record of privileges and limitations applicable to this Agreement, including collections or types of materials not subject to the borrowing privileges conferred under this Agreement, so a prospective borrower may become acquainted with the regulations of the lending library.
LENDING POLICY. Due to the many special exhibitions taking place15, museums borrow a great deal of works of art from each other. Such temporary exhibitions would be impossible without lending. The lending could be arranged on a virtual internet market, where the suppliers (the museums owning art works) offer to lend (some of) their holdings at a specific price and under specific conditions, and the demanders can choose. But it would also be possible on a smaller scale, even between two museums. Introducing prices, instead of barter, has many obvious advantages that need not be discussed further here.
LENDING POLICY. (1) Within sixty days of the date of this FA, the Board shall review and revise the Bank's written loan policy to address specific weaknesses identified in commercial real estate lending. In revising this policy, the Board shall refer to “Commercial Real Estate and Construction Lending” booklet of the Comptroller’s Handbook. This loan policy shall be expanded to incorporate, but not necessarily be limited to, the following:
LENDING POLICY. All materials outside the Suburban Library Cooperative must be picked up and returned at the home library where the library card was issued. For MeLCat lost items, the patron must pay for them at their home library.
