Approved Banks definition

Approved Banks means banks or other financial institutions which have (a) a minimum net worth of $500,000,000 or (b) total assets of $5,000,000,000.

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Approved Banks shall have the meaning given such term in the definition of "Cash Equivalents" herein.

Approved Banks means approved banks within the meaning of section 13(16) of the Income Tax Act; and

Examples of Approved Banks in a sentence

At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice.
The failure of any Lender to make any Loan or to fund any such drawing or participation on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and except for Limited Fronting Lenders with respect to Several Letters of Credit they have issued on behalf of Affected Lenders on Non-NAIC Approved Banks, no Lender shall be responsible for the failure of any other Lender to so make its Loan, honor a drawing or purchase its participation.
The deposit of such Escrowed Dividends in any of the Approved Banks shall be deemed to be at the direction of the applicable Party entitled to such Escrowed Dividends.
The failure of any Lender to make any Loan or to fund any such drawing or participation when required hereunder shall not relieve any other Lender of its corresponding obligation to do so, and except for Limited Fronting Lenders with respect to Several Letters of Credit they have issued on behalf of Affected Lenders or Non-NAIC Approved Banks, no Lender shall be responsible for the failure of any other Lender to so make its Loan, honor a drawing or purchase its participation.
At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re- deposit such amount with one or more of such other Approved Banks as specified in the notice.

More Definitions of Approved Banks

Approved Banks means banks or other financial institutions which have a minimum long-term unsecured debt rating of at least "AA" by each of the Rating Agencies, or if any such bank or other financial institution is not rated by all the Rating Agencies, then a minimum long-term rating of at least "AA" or its equivalent by two of the Rating Agencies.

Approved Banks means financial institutions satisfying the conditions set forth in clause (a) of the definition of “Cash Equivalents” herein.

Approved Banks means the State Bank of India, State Bank of Patiala or any other Nationalised /scheduled Bank approved by the Nigam from time to time.

Approved Banks means banks or other financial institutions which have (i) (a) a minimum net worth of Five Hundred Million and No/100 Dollars ($500,000,000) or (b) total assets of at least Five Billion and No/100 Dollars ($5,000,000,000) and (ii) a minimum long-term unsecured debt rating from the applicable Rating Agencies at least equivalent to the Required Rating.

Approved Banks means banks or other financial institutions which have a minimum long-term unsecured debt rating of at least "AA", or its equivalent rating, by each of the Rating Agencies, or if any such bank or other financial institution is not rated by all the Rating Agencies, then a minimum long-term rating of at least "AA" or its equivalent by two of the Rating Agencies. Appurtenances: As defined in Granting Clause (C) hereof. Assignee: As defined in Section 54 hereof. Assignment of Leases: As defined in the recitals hereof. 10

Approved Banks means (x) PNC Bank, Chase, First Union, NationsBank, Bankers Trust, Union Bank of Switzerland or Bank of America, in each case only for so long as it shall have the long-term unsecured debt rating from the applicable Rating Agencies at least equivalent to such long-term unsecured debt rating as of the date of this Agreement or (y) any other bank or other financial institution which has (i) (a) a minimum net worth of $500,000,000, or (b) total assets of $5,000,000,000 and (ii) a minimum long-term unsecured debt rating from the applicable Rating Agencies at least equivalent to the Required Rating.

Approved Banks means any bank, savings and loan association, savings institution, trust company or national banking association.