Extract to table

An entity that falls within the definition of an "investment company" and does not qualify for an exclusion or exemption is required to register with the U

3(b) of Regulation U, a non-bank lender may not extend or maintain purpose credit secured, directly or indirectly, by margin stock if the lender is required to register with the Federal Reserve as a non-bank lender making margin loans

The principal statutory provisions governing usury in New York are as follows: (a) New York General Obligations Law § 5-501 provides that the maximum rate of interest shall be as prescribed in Section 14-a of the Banking Law, except as otherwise provided by law

4 Governing Law The Credit Agreement provides that it shall be governed by and construed in accordance with the laws of the State of New York

By relying on this Opinion, any such assignee Lender shall be deemed to have agreed to the terms and conditions of this Opinion, including the limitations set forth in Section 5 above