Acquired Deposits definition

Acquired Deposits means all of the deposit liabilities of Seller which are not to be acquired by Net.B@nk and which the Purchaser shall assume at the Closing and shall also include Seller's routing and transit number which is #000000000.
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Acquired Deposits shall have the meaning set forth in Section 2.1(l).
Sample 1
Acquired Deposits shall have the meaning set forth in Section 2.1(n). “Acquired Equipment” shall have the meaning set forth in Section 2.1(b). “Acquired Instruments” shall have the meaning set forth in Section 2.1(p).
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Examples of Acquired Deposits in a sentence

  • Acquired Deposits M&I deposit liabilities were recorded at fair value at acquisition.

  • The Acquired Deposits being assumed by the Purchaser pursuant to this Section shall be assumed in accordance with the terms and conditions of the contracts of deposit and the laws, rules and regulations applicable thereto.

  • If, subsequent to the assumption of Acquired Deposits pursuant to this Section, the Seller shall honor any properly drawn check or withdrawal from a transferred account, the Purchaser shall pay to the Seller any moneys so paid by the Seller to or for the benefit or account of the said depositor but not in excess of collected funds in the depositor's account.

  • Following the Closing, the Seller shall permit the Purchaser or its representatives, at any reasonable time and at the Purchaser's expense to inspect, make extracts from or copies of any nonconfidential files, books of account or records in the Seller's possession containing information concerning the Branches, the Acquired Deposits and the Purchased Loans.

  • At the Closing, the Purchaser shall assume and agree to pay and discharge the Acquired Deposits.

  • All of the Acquired Deposits were obtained and remain in material compliance with all applicable laws and regulations, and are properly documented in a manner materially consistent with such laws and regulations and with good banking practices.

  • The Purchaser shall have the right to conduct in good faith a due diligence investigation concerning the Branches, the Acquired Deposits and the Purchased Assets and to satisfy itself that such matters are not materially and adversely different from the facts and conditions represented by the Seller.

  • If any of the accounts which comprise the Acquired Deposits are overdrawn as of the Closing, the Purchaser shall assume such accounts without recourse to the Seller and shall pay the Seller the amount of the overdrafts for those overdrawn accounts assumed.

  • At the Closing, the Seller shall transfer, assign and deliver to the Purchaser all existing records, books, papers, collateral and agreements of the Seller relating to the Purchased Assets and the Acquired Deposits including but not limited to signature cards, orders, contracts, deposit slips, cancelled checks, withdrawal orders and records of accounts.

  • Except as may be expressly represented or warranted in this Agreement by the Seller, the Seller makes no representations or warranties whatsoever, express or implied, with regard to any Purchased Asset, any Acquired Deposits or any other liability or obligation being assumed by the Purchaser, and all Fixed Assets are sold and conveyed in "AS IS" condition, with no warranties by the Seller as to their future performance or condition.


More Definitions of Acquired Deposits

Acquired Deposits has the meaning set forth in ‎Section 1.1(f).
Sample 1

Related to Acquired Deposits

  • Excluded Deposits means (w) those deposit liabilities that are or would be considered “brokered deposits” for purposes of the rules and regulations of the FDIC, any of which, as of the date hereof, are listed on Exhibit 1.1(e)(i), (x) Escheat Deposits, (y) those deposit liabilities (i) related to a financial advisory relationship with Seller’s Xxxxxxx Xxxxx Wealth Management or US Trust divisions, (ii) related to a client managed relationship in Seller’s Business Banking, Middle Market, or Large Corporate divisions or any other non-retail division, (iii) linked to affinity relationships or programs set forth on Exhibit 1.1(e)(iii) (and such Exhibit 1.1(e)(iii) shall be updated by Seller as of 5:00 p.m., Eastern time, on the date that is five (5) Business Days prior to the Closing Date (and delivered to Purchaser on or before the date that is three (3) Business Days prior to the Closing Date), or (iv) that constitute security for loans that are not to be transferred to Purchaser under the terms of this Agreement, and (z) those deposit liabilities that have been opened by an employee (other than a Transferred Employee) or former employee of Bank of America Corporation.

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Acquired Debt means, with respect to any specified Person:

  • Required Deposit Rating means the short-term credit rating of the related entity is at least equal to P-1 by Moody's, A-1+ by Standard & Poor's and F1 by Fitch.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Controlled Deposit Amount means, with respect to any Transfer Date, the sum of (a) the Controlled Accumulation Amount for such Transfer Date and (b) any existing Accumulation Shortfall.

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Assumed Deposits means Deposits.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Demand deposits means a deposit received by the Bank which is withdrawable on demand;

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Deposit Account is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

  • Highest Required Investment Category (i) With respect to ratings assigned by Moody’s, “Aa2” or “P-1” for one month instruments, “Aa2” and “P-1” for three month instruments, “Aa3” and “P-1” for six month instruments and “Aa2” and “P-1” for instruments with a term in excess of six months, (ii) with respect to rating assigned by S&P, “A-1” for short-term instruments and “A” for long-term instruments, and (iii) with respect to rating assigned by Fitch (if such investment is rated by Fitch), “F-1+” for short-term instruments and “AAA” for long-term instruments.

  • Eligible Investment Required Ratings means, in the case of each Eligible Investment, a short-term credit rating of at least “A-1” (or, in the absence of a short-term credit rating, “AA-” or better) from S&P.

  • Qualified Depository A depository the accounts of which are insured by the FDIC through the BIF or the SAIF and the debt obligations of which are rated AA or better by Standard & Poor's Corporation.

  • Credit Card Receivables means each “payment intangible” (as defined in the UCC) together with all income, payments and proceeds thereof, owed by a Credit Card Issuer or Credit Card Processor to a Loan Party resulting from charges by a customer of a Loan Party on credit or debit cards issued by such Credit Card Issuer in connection with the sale of goods by a Loan Party, or services performed by a Loan Party, in each case in the ordinary course of its business.

  • Liquidity Account Investments means Deposit Securities or any other security or investment owned by the Fund that is rated not less than A3 by Moody’s, A- by Standard & Poor’s, A- by Fitch or an equivalent rating by any other NRSRO (or any such rating’s future equivalent) or if not rated, determined by the Adviser to be of comparable quality.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Eligible Accounts Receivable means, at any time, the invoice value of Canadian Dollar and U.S. Dollar Accounts Receivable (net of all goods and services Taxes, harmonized sales Taxes and other sales Taxes and net of any credit balance, returns, trade discounts, unapplied cash, unbilled amount or retention or finance charges) owing to the Restricted Parties (or any of them) arising under any sales of Inventory from the operation of the business of the Restricted Parties made by the Restricted Parties to any Person in the ordinary course of business, which invoice value shall be periodically reported to the Lender in the form of Schedule “B” to be delivered (i) at the time of each Drawdown during the Covenant Holiday Period, if at the time of such Drawdown there is no principal amount outstanding under any Prime Rate Loans, Base Rate Loans, CDOR Loans, and there are no outstanding Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender), and (ii) within fifteen days after the end of each calendar month during the Covenant Holiday Period, if during such month any Prime Rate Loans, Base Rate Loans, CDOR Loans, Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender) are outstanding; provided that no Account Receivable shall be deemed an Eligible Account Receivable unless each of the following statements is accurate and complete (and by including such Account Receivable in any calculation of the Borrowing Base, the Borrower shall be deemed to represent and warrant to the Lender the accuracy and completeness of such statements):

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Controlled Securities Account means each securities account (including all financial assets held therein and all certificates and instruments, if any, representing or evidencing such financial assets) that is the subject of an effective Control Agreement.

  • Permitted Acquired Debt shall have the meaning set forth in Section 9.04(d).

  • Failed Bank Charge-Offs/Write-Downs means, with respect to any Shared- Loss Asset, an amount equal to the aggregate amount of reversals or charge-offs of Accrued Interest and charge-offs and write-downs of principal effected by the Failed Bank with respect to that Shared-Loss Asset as reflected on the Accounting Records of the Failed Bank.