Bank Deposit Account definition

Bank Deposit Account means a blocked bank account of the Issuer at Nordea Bank Abp which is pledged pursuant to the Security Documents and to which the Security Agent has sole signing rights and to which account Disposal Proceeds and proceeds of Insurances equaling or exceeding EUR 500,000 per insurance event relating to the Secured Bank Obligations shall be deposited in accordance with the Senior Facilities Agreement.
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Bank Deposit Account shall be defined as that bank account held at a bank or banks designated by BANK and made known to COMPANY and into which BANK shall deposit, via Automated Clearing House Network or other electronic entries, as permitted by applicable law, the amounts set forth on each REPAYMENT CHECK and the daily receipts otherwise collected by COMPANY for the benefit of BANK and applied to the TRANSACTIONS.
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Bank Deposit Account shall have the meaning provided in Section -------------------- 6.20.
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Examples of Bank Deposit Account in a sentence

  • The 'Basic Savings Bank Deposit Account' would be subject to RBI instructions on Know Your Customer (KYC) / Anti-Money Laundering (AML) for opening of bank accounts issued from time to time.

  • Holders of 'Basic Savings Bank Deposit Account' will not be eligible for opening any other savings bank deposit account in that bank.

  • If a customer has any other existing savings bank deposit account in that bank, he / she will be required to close it within 30 days from the date of opening a 'Basic Savings Bank Deposit Account'.

  • Further, no charge will be levied for non-operation / activation of in-operative 'Basic Savings Bank Deposit Account'.

  • At various times since its inception, the Principal Plus Portfolio has been invested in a guaranteed investment contract (GIC), the Cash Allocation Account, and the Bank Deposit Account.

  • Though the banks make available a Basic Savings Bank Deposit Account so as to achieve the objective of greater financial inclusion, yet financial inclusion objectives would not be fully met if the banks do not increase the banking outreach to the remote corners of the country.

  • The existing basic banking 'no-frills' accounts should be converted to 'Basic Savings Bank Deposit Account' as per the instructions contained above.

  • The 'Basic Savings Bank Deposit Account' should be considered a normal banking service available to all.

  • If a customer has any other existing savings account in the Bank, he / she will be required to close it within 30 days from the date of opening a 'Basic Savings Bank Deposit Account'.

  • N1 Closure Of Account Saving Account Current Account Saving Account*Upto 14 days of opening : NIL After 14 days: ₹150/- plus GST Current AccountUpto 14 days of opening : NIL After 14 days: ₹300/- Plus GST No charges shall be levied in case account is closed Owing to the Death of the account holder *Excluding Basic Savings Bank Deposit Account, Pradhan Mantri Jan Dhan Yojna & Small Accounts opened under Financial Inclusion NOTES 1.


More Definitions of Bank Deposit Account

Bank Deposit Account. An interest-bearing omnibus Negotiable Order of Withdrawal account held at the Bank in which deposits are FDIC-insured, subject to applicable limits. “Bank of New York Mellon” The company which currently serves as the Program Custodian. “BlackRock” BlackRock Advisors, LLC, which currently serves as the Investment Manager, and its affiliates engaged in such investment management services. “Cash Allocation Account” The Cash Allocation Account is a separate account that seeks current income, preservation of capital and liquidity. This account is invested directly in a diversified portfolio of money market securities and may also be invested in Maine CDs.
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Bank Deposit Account. An interest-bearing omnibus Negotiable Order of Withdrawal account held at the Bank in which deposits are FDIC-insured, subject to applicable limits. “Bank of New York Mellon” The company which currently serves as the Program Custodian.
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Bank Deposit Account. An interest-bearing omnibus Negotiable Order of Withdrawal account held at the Bank in which deposits are FDIC-insured, subject to applicable limits. “BlackRock” BlackRock Advisors, LLC, which currently serves as the Investment Manager, and BlackRock Investments, LLC, which serves as Select Series Distributor. “Bank of New York Mellon” The company which currently serves as the Program Custodian.
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Bank Deposit Account shall have the meaning provided in Section 8.17.
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Related to Bank Deposit Account

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Approved Deposit Account means a Deposit Account maintained by any Loan Party that is the subject of an effective Deposit Account Control Agreement. “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.

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

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

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Controlled Deposit Account means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104).

  • 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.

  • 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.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Deposit Accounts means all “deposit accounts” as such term is defined in the UCC, now or hereafter held in the name of a Debtor.

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • 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.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent and with respect to which a Grantor has delivered to the Administrative Agent an executed Deposit Account Control Agreement.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Deposit Account Control Agreement means an agreement, in form and substance satisfactory to the Agent (in its Permitted Discretion), among any Loan Party, a banking institution holding such Loan Party’s funds, and the Agent with respect to collection and control of all deposits and balances held in a deposit account maintained by any Loan Party with such banking institution, as amended, supplemented or otherwise modified from time to time in accordance with the terms thereof.

  • Deposit Account Control Agreements means, with respect to each deposit account that is required by the Collateral Agreement to be subject to a control agreement, a deposit account control agreement executed by the Borrower, the Administrative Agent as the secured party thereto, and the deposit bank, as each may be amended, restated, supplemented or otherwise modified from time to time.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Facility Account means the account of Seller at Bank One, Account ---------------- No. 10-36987.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Liquidity Account has the meaning set forth in Section 6.22(a).

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • 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.

  • Security Account “Software”, and “Supporting Obligations”.