Approved Bank definition

Approved Bank shall have the meaning set forth in the definition of “Cash Equivalents.”

Approved Bank has the meaning assigned to such term in the definition of the term “Permitted Investments.”

Approved Bank has the meaning specified in clause (c) of the definition of “Cash Equivalents”.

Examples of Approved Bank in a sentence

• The Seller shall execute an agreement with the Purchaser that shall authorize the Purchaser to arrange for electronic fund transfers and/or ACH Payments of the Scheduled Remittances or Adjusted Scheduled Remittance from the Approved Bank Account.

• The Seller shall not allow any event to occur that would cause a diversion of any portion of the Seller’s Future Receipts from the Approved Bank Account or Approved Processor without the Purchaser’s written permission.

• The Seller hereby authorizes the Purchaser to initiate electronic payments or ACH debits from the Approved Bank Account in the amount of the Scheduled Remittance on each Business Day commencing on the Effective Date until the Purchaser receives the full Purchased Amount.

• The Parties agree that the Seller shall provide Purchaser with all access code(s) for the Approved Bank Account.

• In the event the Approved Bank Account or Approved Processor shall become unavailable or shall cease to operate during the term of this Agreement, Seller shall arrange for another Approved Bank Account or Approved Processor within twenty-four (24) hours.

More Definitions of Approved Bank

Approved Bank means a domestic financial institution which (A) prior to a Securitization, has long term unsecured debt obligations of which are rated not less than “AA” by S&P, “A” by Fitch and “Aa2” by Xxxxx’x or the short-term obligations of which are rated at least “A-1+” by S&P, “F-1” by Fitch and “P-1” by Xxxxx’x and (B) after a Securitization, has long term long unsecured debt obligations and/or short term obligations which meet the applicable rating requirements of the Rating Agencies.

Approved Bank has the meaning provided in subpart (ii) of the definition of “Cash Equivalents.”

Approved Bank means (a) a bank or other financial institution which has the Required Rating, (b) if a Securitization has not occurred, a bank or other financial institution acceptable to Lender or (c) if a Securitization has occurred, a bank or other financial institution with respect to which Lender shall have received a Rating Agency Confirmation.

Approved Bank has the meaning specified in the definition of Cash Equivalents.

Approved Bank means a bank or other financial institution which has a minimum long term unsecured debt rating of at least “AA” by S&P and Fitch and “Aa2” by Xxxxx’x.

Approved Bank means one of certain institutions as defined in the glossary to the FCA Handbook.

Approved Bank means any bank, finance company, insurance company or other financial institution (a) which has (i)(x) a minimum net worth of $500,000,000 and/or (y) total assets of $10,000,000,000, and (ii) a minimum long-term debt rating of (x) BBB+ or higher by S&P, and (y) Baa1 or higher by Xxxxx’x, or (b) which is approved by the Administrative Agent, which approval shall not be unreasonably withheld.