Disapproved Financial Institution Sample Clauses

Disapproved Financial Institution. If, prior to the Insured Event, for any reason we remove a Financial Institution maintaining a Certificate Owner’s Account from our list of approved Financial Institutions, the Certificate Owner must initiate the transfer of assets held in the Certificate Owner’s Account at the disapproved Financial Institution to an approved Financial Institution within [fifteen (15)] business days. We will send the Certificate Owner a notice that he or she must initiate the transfer of assets held in an Account at the disapproved Financial Institution to an approved Financial Institution within [fifteen (15)] business days of the date the notice is sent. If the Certificate Owner initiates the transfer of assets in his or her Account within the prescribed time period to an approved Financial Institution, the Certificate Owner’s Certificate will continue. If the Certificate Owner does not initiate the transfer of assets in his or her Account to an approved Financial Institution within the prescribed time period, coverage stops and the Certificate Owner’s Certificate will be terminated. We will provide the Certificate Owner with written notice of the termination.
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Disapproved Financial Institution. If, prior to the Insured Event, for any reason We remove a Financial Institution maintaining a Certificate Owner’s Account from our list of approved Financial Institutions, the Certificate Owner must maintain compliance with the terms of the Certificate and transfer the Account from the disapproved Financial Institution to an approved Financial Institution within [ninety (90)] calendar days. We will send the Certificate Owner a notice upon disapproval of their current Financial Institution. The Certificate will terminate unless the Certificate Owner:
Sample 1

Related to Disapproved Financial Institution

  • Affected Financial Institution No Loan Party is an Affected Financial Institution.

  • Affected Financial Institutions No Loan Party is an Affected Financial Institution.

  • Financial Institution The Financial Institution will not be liable under this Agreement, except for (i) its own willful misconduct, bad faith or negligence or (ii) breach of its representations and warranties in this Agreement. The Financial Institution will not be liable for special, indirect or consequential losses or damages (including lost profit), even if the Financial Institution has been advised of the likelihood of the loss or damage and regardless of the form of action.

  • EEA Financial Institution No Loan Party is an EEA Financial Institution.

  • EEA Financial Institutions No Loan Party is an EEA Financial Institution.

  • Acknowledgment and Consent to Bail-In of Affected Financial Institutions Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

  • Location of Financial Institution Regardless of any provision in any other agreement, for purposes of the UCC, New York will be the location of the bank for purposes of Sections 9-301, 9-304 and 9-305 of the UCC and the securities intermediary for purposes of Sections 9-301 and 9-305 and Section 8-110 of the UCC.

  • Acknowledgement and Consent to Bail-In of EEAAffected Financial Institutions Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEAAffected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEAthe applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

  • Reliance by Financial Institution The Financial Institution is not obligated to investigate or inquire whether the Secured Party may deliver a Secured Party Order. The Financial Institution may rely on communications (including Secured Party Orders) believed by it in good faith to be genuine and given by the proper party.

  • Acknowledgement and Consent to Bail-In of Affected Financial Institutions Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

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