Administrative Bank definition

Administrative Bank. As defined in the preamble hereto.

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Administrative Bank means State Street Bank and Trust Company, until the appointment of a successor “Administrative Bank” pursuant to Section 11.9 and, thereafter, shall mean such successor Administrative Bank.

Administrative Bank means such successor administrative bank, effective upon its appointment, and the former Administrative Bank's rights, powers and duties as Administrative Bank shall be terminated without any other or further act or deed on the part of such former Administrative Bank or any of the other parties to this Loan Agreement. After the resignation of any Administrative Bank hereunder, the provisions of this Section 11 shall not by reason of such resignation be deemed to release the Administrative Bank from liability for any actions taken or not taken by it while it was the Administrative Bank under this Loan Agreement.

Examples of Administrative Bank in a sentence

All payments of principal and interest under this Note shall be made in lawful money of the United States of America in immediately available funds to U.S. Bank National Association, as the Administrative Bank (the "Administrative Bank"), at the Administrative Bank's office at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, or at such other place as may be designated by the Administrative Bank to the Borrower in writing.
Until notified in writing of the transfer of this Note, the Makers and the Administrative Bank shall be entitled to deem the Payee or such person who has been so identified by the transferor in writing to the Makers and the Administrative Bank as the holder of this Note, as the owner and holder of this Note.
In addition, Borrower shall pay any and all stamp and other taxes and fees payable or determined to be payable in connection with the execution and delivery, filing or recording of this Amendment and the other instruments and documents to be delivered hereunder, and agrees to save the Administrative Bank and each Lender harmless from and against any and all liabilities with respect to, or resulting from, any delay in Borrower's paying or omission to pay, such taxes or fees.
All payments of principal and interest in respect of this Note shall be made in lawful money of the United States of America in same day funds at the office of the Administrative Bank located at 500 ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ at such other place as shall be designated in writing for such purpose in accordance with the terms of the Loan Agreement.
Borrower agrees to pay on demand all costs and expenses of the Administrative Bank and each Lender in connection with the preparation, reproduction, execution and delivery of this Amendment and the other documents to be delivered hereunder or thereunder, including their reasonable attorneys' fees and legal expenses.
In addition, the Borrower shall pay any and all stamp and other taxes and fees payable or determined to be payable in connection with the execution and delivery, filing or recording of this Amendment and the other instruments and documents to be delivered hereunder, and agrees to hold the Administrative Bank and the Banks harmless from and against any and all liabilities with respect to, or resulting from, any delay in the Borrower's paying or omission to pay, such taxes or fees.
The Borrower agrees to pay on demand all costs and expenses of the Administrative Bank in connection with the preparation, reproduction, execution and delivery of this Amendment and the other documents to be delivered hereunder or thereunder, including the Administrative Bank's reasonable attorneys' fees and legal expenses.
Administrative Agent shall distribute such fee to such Banks who have executed, and delivered to Administrative Bank on or before the prescribed date, its counterpart of this Amendment.
A Bank that is an 840A Bank shall promptly notify the Administrative Bank if there is any change in the position from that set out in the Tax Confirmation.
Notwithstanding the foregoing, but subject to Section 10.2, in the event that Administrative Bank seeks to enforce the Capital Commitments of one or more Investors it shall require such Investor to fund its Capital Contribution to the applicable Collateral Account.

More Definitions of Administrative Bank

Administrative Bank has the meaning assigned to that term in the introduction to this Loan Agreement.

Administrative Bank. U.S. Bank in its capacity as agent and administrative bank for all Banks and any successor appointed pursuant to the terms of this Agreement.

Administrative Bank means the commercial banking institution which complies with the criteria set forth in Section I of Schedule 6 to this Agreement and with which the Borrower has entered into an Administrative Agreement for the purposes of Part B.2 of the Project;

Administrative Bank means whichever of the Banks the Borrowers elect from time to time to have perform the functions of the Administrative Bank hereunder. Unless and until the Borrowers elect otherwise, WB shall perform the functions of the Administrative Bank.