Common use of CONNECTED PARTIES Clause in Contracts

CONNECTED PARTIES. Unless permitted by guidelines issued by any authority which has jurisdiction over the Bank:- (i) the Borrower and/or any of his close relatives are not a director (including alternate director) in the Bank or any of the financial institutions in the Group; (ii) the Borrower and/or his close relatives are not a controlling shareholder or influential shareholder in the Bank or any of the financial institutions in the Group; (iii) the Borrower is not an executive officer or designated officer of the Bank. For the purpose of this Section:-

CONNECTED PARTIES. Unless permitted by guidelines issued by any authority which has jurisdiction over the Bank:- (i) the Borrower Customer and/or any of his close relatives are not a director (including alternate director) in the Bank or any of the financial institutions in the Group; (ii) the Borrower Customer and/or his close relatives are not a controlling shareholder or influential shareholder in the Bank or any of the financial institutions in the Group; (iii) the Borrower Customer is not an executive officer or designated officer of the Bank. For ; (iv) the purpose of this Section:-Customer is not a firm, partnership, company or any other legal entity:-