Common use of Funding Bank Account Clause in Contracts

Funding Bank Account. a demand deposit account with a financial institution located in the continental United States designated mutually by HI and BSI for the deposit of their respective Funding Components and from which account the parties may withdraw funds based only upon their joint instructions. Funding Components: the BSI Funding Component and the HI Funding Component applicable to any BSI Litigation Matter. Governmental Authority: any federal, state, local, foreign or international court, government, department, commission, board, bureau or agency, authority (including, but not limited to, any central bank or taxing authority) or instrumentality (including, but not limited to, any court, tribunal or grand jury) exercising executive, prosecutorial, legislative, judicial, regulatory or administrative functions of or pertaining to government or any other regulatory, administrative or governmental authority. Group: the HI Group or the BSI Group, as the context requires. HI: as defined in the preamble to this Agreement, including its successors and permitted assigns.

Funding Bank Account. a demand deposit account with a financial institution located in the continental United States designated mutually by HI and BSI for the deposit of their respective Funding Components and from which account the parties may withdraw funds based only upon their joint instructions. Funding Components: the BSI Funding Component and the HI Funding Component applicable to any BSI Litigation Matter. Governmental Authority: any federal, state, local, foreign or international court, government, department, commission, board, bureau or agency, authority (including, but not limited to, any central bank or taxing authority) or instrumentality (including, but not limited to, any court, tribunal or grand jury) exercising executive, prosecutorial, legislative, judicial, regulatory or administrative functions of or pertaining to government or any other regulatory, administrative or governmental authority. Group: the HI Group or the BSI Group, as the context requires. HI: as defined in the preamble to this Agreement, including its successors and permitted assigns. HI Funding Component: with respect to each BSI Litigation Matter, the HI Funding Tranche.