Purpose Credit definition

Purpose Credit has the meaning ascribed to it in Regulation U of the Board of Governors of the Federal Reserve System.
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Purpose Credit and "Margin Stock", shall have the same meaning set forth in Regulation U and X of the Board of Governors of the Federal Reserve System of the United States of America.
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Purpose Credit has the meaning set forth for such term in Regulation U.
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Examples of Purpose Credit in a sentence

  • November 2, 2015 Purpose Multi-Strategy Market Neutral Fund Neuberger Berman Breton Hill ULC September 13, 2013 Purpose Credit Opportunities Fund Purpose Investment Partners Inc June 30, 2014 Purpose Gold Bullion Fund N/A October 10, 2018Purpose Silver Bullion Fund* N/A June 8, 2009Purpose Bitcoin ETF N/A February 23, 2021Purpose Ether ETF N/A April 19, 2021* Silver Administrators Ltd.

  • However, because we operate a Special Purpose Credit Program, we may request and require, in order to determine an applicant’s eligibility for the program and the affordable mortgage amount, information regarding the applicant’s marital status; alimony, child support and separate maintenance income; and the spouse’s financial resources.

  • The credit extended under this Agreement does not constitute "Purpose Credit" within the meaning of the FRB's Margin Regulations.

  • No Borrower will use any of the proceeds hereunder, directly or indirectly, to purchase or carry, or to reduce or retire any indebtedness that was originally incurred to purchase or carry, any Margin Stock or for any other purpose that might constitute the transactions contemplated hereby as a "Purpose Credit" within the meaning of the FRB's Margin Regulations.

  • Regulation U Lenders generally are not subject to the Regulation U credit limits with respect to extensions of credit that are not Purpose Credit.

  • None of the proceeds of the credit secured hereby shall be used directly or indirectly for the purpose of purchasing or carrying any margin stock in violation of any of the provisions of Regulation U of the Board of Governors of the Federal Reserve System ("Regulation U"), or for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry margin stock or for any other purchase which might render the Loan a "Purpose Credit" within the meaning of Regulation U.

  • Regulation U Lenders are not subject to the Regulation U credit limits with respect to extensions of credit that are not Purpose Credit.

  • Notwithstanding anything to the contrary in this Agreement and to the extent applicable, no liabilities or obligations the Client has arising out of or constituting Purpose Credit shall be secured by, and the Custodian shall have no lien upon, any Margin Stock, and any such lien or security interest being hereby expressly disclaimed by the Custodian.

  • None of the proceeds from the Facility will be used for the purpose of purchasing or carrying directly or indirectly margin stock or for any other purpose that would constitute this transaction a "Purpose Credit" within the meaning of Regulations U and X of the Board of Governors of the Federal Reserves System, as any of them may be amended from time to time.

  • The information may only be used for deter- mining eligibility and premium rates for in- surance, however, and not in making the credit decision.Section 1002.8—Special Purpose Credit Programs 8(a) Standards for programs.1. Determining qualified programs.


More Definitions of Purpose Credit

Purpose Credit as defined in Regulation U. “Reducing Percentage Lender” — each then existing Lender immediately prior to giving effect to a Commitment Increase, which Lender shall not increase its respective Commitment in connection with such Commitment Increase (with the result that the relative percentage of the aggregate total Commitments of such Lender shall be reduced after giving effect to such Commitment Increase).
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Purpose Credit means credit for the purpose of: (1) Buying, carrying, or trading in securities; or
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Purpose Credit secured "directly or indirectly" as defined in Regulation U by Margin Stock or (b) sell, transfer or otherwise dispose of any of its assets (other than as permitted in clauses (a)-(d) of Section 9.4 of the Revolving Credit Agreement), unless in the case of both clauses (a) and (b) the Administrative Agent shall have been given at least 10 days' prior written notice thereof and either:
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Purpose Credit shall have the meanings ascribed to those phrases in Section 221.2 of Regulation U; (iii) "EXCESS PORTION OF MARGIN STOCK" means that portion of the margin stock directly or indirectly owned by the Company (and, where the value of all margin stock so owned by the Company exceeds the Regulation U Limit, the Company shall promptly identify to the Agent the particular shares from among them which shall be included in such portion exceeding the Regulation U Limit) that has a value, when added to the value all other margin stock indirectly securing the credit extended under this Agreement, that would cause the total value of the margin stock indirectly securing the credit to exceed the Regulation U Limit; and (iv) "REGULATION U LIMIT" means that amount equal to twenty-five (25%) of the value of the Company's properties or assets that are then subject to any restriction in this Agreement on the disposition thereof or the creation of Liens thereon.
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Purpose Credit shall have the meanings ascribed to those phrases in Section 221.2 of Regulation U; (iii) "Excess Portion of margin stock" means that portion of the margin stock directly or indirectly owned by the Company (and, where the value of all margin
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Related to Purpose Credit

  • Eligible Credit Support means Eligible Collateral and Other Eligible Support.

  • Service Credit means the periods of time for which the required contributions have been made to

  • Bank Credit Agreement means the Credit Agreement dated as of May 9, 2005 by and among the Company, certain Subsidiaries of the Company named therein, the Administrative Agent, and the Bank Lenders and other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • Secured Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Credit Party and any Cash Management Bank.

  • QFC Credit Support has the meaning specified in Section 11.21.

  • Administrative Agent’s Account means, for each Currency, an account in respect of such Currency designated by the Administrative Agent in a notice to the Borrower and the Lenders.