Loan Committee Sample Clauses

Loan Committee. The Loan Committee is comprised of five members: • The President of Cofina • The Chief Financial Officer of Cofina • Credit Administrator • Director Wholesale Credit • Director Retail Credit • The Member officer rotates on a monthly basis. Three voting members, one of which must be the President or the CFO, are required for the committee to be quorate. The meetings are also attended by the Legal Administrator and the presenting loan officer. The Loan Committee is scheduled every Monday at 8:00 a.m. Credit reports and back-up data must be provided to the Legal Administrator on or before noon on the Thursday prior to the Monday meeting. The agenda for the meeting must be distributed by Thursday afternoon. Apologies for absence must be given to the Legal Administrator. The loan officer responsible for each loan on the agenda must attend the meeting to present his credit. If the loan officer is unable to physically attend the meeting, he must join it by telephone. Credits will be held over to the next meeting if the loan officer is unable to attend. The Loan Committee meets to consider the following actions: • Approve new loans • Approve revised loans • Approve loan extensions • Approve annual reviews • Approve changes to payment schedule • Approve premium or discount pricing from the pricing matrix • Approve advances pre-finalization of security • Approve releases from security • Approve exceptions to the limitations on advances • Review loans where there have been violations of the agreement and approve waiver where appropriate. • Review loans that have failed the Stressed Realizable Value Test • Review loans that have slipped from an Acceptable, non-criticized asset classification • Approve loan servicing actions • Review progress of loan servicing actions • Approve Loan Service Plans • Review progress of Loan Service Plans • Approve issuing Liquidation Notice • Review discount rates used in Collateral Analysis Worksheet • Approve loan classifications • Approve outside attorneys to be used for assisting with security requirements All decisions must be approved unanimously by those voting members attending the Loan Committee meeting. All decisions must be minuted by the Legal Administrator. Minutes must be signed by the voting members who made the decision and then presented at the next Loan Committee meeting. The minutes are filed by the Legal Administrator and held in the offices of Cofina for five years before being archived.
Sample 1
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Loan Committee. The Board of Directors may appoint a loan committee composed of two (2) directors, appointed by the Board annually or more often. The loan committee shall have power to discount and purchase bills, notes and other evidences of debt, to buy and sell bills of exchange, to examine and approve loans and discounts, to exercise authority regarding loans and discounts, and to exercise, when the Board is not in session, all other powers of the Board that may lawfully be delegated. The loan committee shall keep minutes of its meetings, and such minutes shall be submitted at the next regular meeting of the Board of Directors at which a quorum is present, and any action taken by the Board with respect thereto shall be entered in the minutes of the Board.
Sample 1
Loan Committee. There shall be a loan committee composed of not less than three directors, appointed by the Chairman of the Board annually or more often. The loan committee shall have such power, as is lawfully delegated by the board, pursuant to a loan policy adopted by resolution of the board, to discount and purchase bills, notes and other evidences of debt, to buy and sell bills of exchange, to examine and approve loans and discounts and to exercise authority regarding loans and discounts. In the event that the loan committee consists of more than three members, any three members shall constitute a quorum for exercising the powers of the loan committee. The loan committee shall keep minutes of its meetings, and such minutes shall be submitted at the next regular meeting of the Board of Directors at which a quorum is present, and any action taken by the board with respect thereto shall be entered in the minutes of the board.
Sample 1
Loan Committee. Because any transaction between the Physician Group and the Manager shall constitute a transaction with an interested party. the Members hereby establish a Loan Committee. which committee shall consist of the Columbia Managers and shall have the exclusive authority. in the name and on behalf of the Manager. to approve any loans made by the Manager to the Physician Group and to enforce the terms of any promissory notes issued in connection with such loans and any security interest granted with respect to such loans. The Loan Committee shall have the right to refuse in its sole and absolute discretion to make a loan for any reason and to conduct a due diligence review of the Physician Group at any time, and from time to time including without limitation to inspect and make copies of any financial or corporate records of the Physician Group.
Sample 1
Loan Committee. The Loan Committee shall consist of not less than two directors. The Loan Committee shall have the power to establish and approve such loans, policies and procedures relating to the lending operations of any direct and indirect subsidiary or affiliate of the Corporation as determined in accordance with such guidelines established by the Board of Directors from time to time.
Sample 1
Loan Committee. (a) A majority of the Bank's Loan Committee shall, at all times, be comprised of outside directors, who are not executive officers of the Bank. The prior approval of the Loan Committee shall be required for any extension of credit made or acquired by the Bank (1) that in the aggregate will exceed $100,000 to any borrower, including related interest(s) of such borrower, except those collateralized by cash and cash equivalents; (2) to any institution-affiliated party of the Bank, including any related interest(s) of such borrower; or (3) for any loan acquisition aggregating 25 percent or more of the Bank's tier 1 capital. All loan approvals by the Loan Committee shall be made in accordance with the requirements of section 658.48 of the Florida Statutes. The Loan Committee shall have the responsibility for monitoring compliance with the Bank's written loan policies and procedures and shall review, on a monthly basis, all loans made by the Bank and the activities of all personnel of the Bank involved in its lending functions and operations. At each meeting of the Loan Committee, the Committee shall review the current status of all loans in excess of $50,000 that are in default as to principal or interest for 30 days or more as of the date of the Committee meeting, that are adversely classified or listed for special mention by State or Federal examiners in the Bank's latest report of examination or that are to an institution-affiliated party of the Bank. The Committee shall specifically address whether the extension of credit was made in accordance with the Bank's written loan policies and procedures and whether the collection actions undertaken by Bank management to reduce the volume of past due loans were in full compliance with the Bank's collection procedures as set forth in its written loan policies and procedures. The Loan Committee shall maintain accurate written minutes of its meetings, which shall be available for subsequent supervisory review.
Sample 1
Loan Committee. A Loan Committee with a composition acceptable to the Fund shall be established. The Loan Committee shall have the overall responsibility for approval of loan applications pursuant to the regulations of the RFF Investment Guidelines.
Sample 1
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Loan Committee. (a) (i) The Board of Directors of FIHOP shall establish a nine (9) person Loan Committee consisting of a representative of up to nine (9) Members of FIHOP, who may or may not be members of the Board of Directors of FIHOP. The appointments shall be specific to the individuals representing Members of FIHOP and not to the company they represent and all the parties hereto explicitly agree that in no way do the Members of FIHOP incur any additional liability above and beyond the liability contemplated by participation in FIHOP simply and solely for the appointment of an individual representative to the Loan Committee.
Sample 1

Related to Loan Committee

  • Executive Committee (A) The Executive Committee shall be composed of not more than nine members who shall be selected by the Board of Directors from its own members and who shall hold office during the pleasure of the Board.

  • Management Committee The Members shall act collectively through meetings as a "committee of the whole," which is hereby named the "Management Committee." The Management Committee shall conduct its affairs in accordance with the following provisions and the other provisions of this Agreement:

  • Advisory Committee The Settling State shall designate an Opioid Settlement Remediation Advisory Committee (the “Advisory Committee”) to provide input and recommendations regarding remediation spending from that Settling State’s Abatement Accounts Fund. A Settling State may elect to use an existing advisory committee or similar entity (created outside of a State-Subdivision Agreement or Allocation Statute); provided, however, the Advisory Committee or similar entity shall meet the following requirements:

  • Audit Committee (A) The Audit Committee shall be composed of five members who shall be selected by the Board of Directors from its own members, none of whom shall be an officer of the Company, and shall hold office at the pleasure of the Board.

  • Investment Committee The board of directors of the insurance company shall appoint an investment committee of the investment manager as the investment committee of the insurance company. The investment committee shall meet at least once each quarter to review the investments and loans of the insurance company.

  • Compensation Committee (A) The Compensation Committee shall be composed of not more than five (5) members who shall be selected by the Board of Directors from its own members who are not officers of the Company and who shall hold office during the pleasure of the Board.

  • Transition Committee 8.1.0 A transition committee comprised of the employee representatives and the employer representatives, including the Crown, will be established by January 31, 2016 to address all matters that may arise in the creation of the Trust.

  • Delegation; Committees The Trustees shall have the power, consistent with their continuing exclusive authority over the management of the Trust and the Trust Property, to delegate from time to time to such of their number or to officers, employees or agents of the Trust the doing of such things, including any matters set forth in this Declaration, and the execution of such instruments either in the name of the Trust or the names of the Trustees or otherwise as the Trustees may deem expedient. The Trustees may designate one or more committees which shall have all or such lesser portion of the authority of the entire Board of Trustees as the Trustees shall determine from time to time except to the extent action by the entire Board of Trustees or particular Trustees is required by the 1940 Act.

  • Committees of the Board of Directors The Board of Directors may designate one or more committees, each committee to consist of one or more of the directors of the Corporation. The Board of Directors may designate one or more directors as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. If a member of a committee shall be absent from any meeting, or disqualified from voting thereat, the remaining member or members present at the meeting and not disqualified from voting, whether or not such member or members constitute a quorum, may, by a unanimous vote, appoint another member of the Board of Directors to act at the meeting in the place of any such absent or disqualified member. Any such committee, to the extent permitted by applicable law, shall have and may exercise all the powers and authority of the Board of Directors in the management of the business and affairs of the Corporation and may authorize the seal of the Corporation to be affixed to all papers that may require it to the extent so authorized by the Board of Directors. Unless the Board of Directors provides otherwise, at all meetings of such committee, a majority of the then authorized members of the committee shall constitute a quorum for the transaction of business, and the vote of a majority of the members of the committee present at any meeting at which there is a quorum shall be the act of the committee. Each committee shall keep regular minutes of its meetings. Unless the Board of Directors provides otherwise, each committee designated by the Board of Directors may make, alter and repeal rules and procedures for the conduct of its business. In the absence of such rules and procedures each committee shall conduct its business in the same manner as the Board of Directors conducts its business pursuant to this Article III.

  • The Board 6.1 The appointment, dismissal and conduct of the Board shall be regulated in accordance with this agreement and the Articles.

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