Bank Option definition

Bank Option has the meaning assigned to such term in Section 2.9.
Sample 1
Bank Option. The HSA bank option is an FDIC-insured interest-bearing bank account with PNC Bank, National Association (“Bank”). Interest begins to accrue no later than the business day that the funds received by the custodian or trustee are deposited into the Bank Portion. The daily balance method is used to calculate interest on the account. Interest is compounded monthly and credited to the account monthly. The interest rates are subject to change at any time at the discretion of the Bank without further notice to you. In addition, the Bank reserves the right to establish (and change) balance levels on which different rates of interest may be paid. Additional details are contained in the Bank Disclosure Form. Investment Option: The HSA investment option consists of a menu of mutual funds that have been designated by the custodian as eligible for investment. Mutual funds are not FDIC insured, not bank issued or guaranteed, and are subject to investment risks, including fluctuations in value and the possible loss of the principal amount invested. In addition, growth in the value of your account is neither guaranteed nor projected due to the characteristics of a mutual fund investment. Detailed information about the shares of each mutual fund available for investment by your HSA must be furnished to you in the form of a prospectus. The method for computing and allocating annual earnings is set forth in the prospectus. If you made an initial contribution on the first day of a calendar year and no further investment during that year, your contribution would also be subject to certain costs and expenses which would reduce any investment return or yield you might obtain from the investment. For future information regarding expenses, earnings, and distributions, see the mutual fund’s financial statements, prospectus and/or statement of additional information. The trustee or custodian has the right to change the menu of mutual funds made available for investment in the HSA by providing the account owner at least 30 days’ notice (if practical under the circumstances). In the event a portion of your HSA is invested in a mutual fund(s) that is removed from the program, in the absence of contrary instructions, the trustee or custodian will cause your holdings in that fund to be liquidated and the assets transferred to the FDIC-insured, interest bearing Bank Portion.
Sample 1
Bank Option shall have the meaning stated in Section 2.8(a).
Sample 1

Examples of Bank Option in a sentence

  • The Exchange Agent shall be entitled to rely upon the records of the Bank and the information provided in such demand for cancellation documentation provided by any such holder of a Bank Option, as verified by the Company as to the method and means of payment and disposition of such consideration.

  • Each holder of a Bank Option who presents a demand for cancellation and payment of such Bank Option as provided in Section 2.8 of the Agreement to the Exchange Agent prior to the Closing shall, upon acceptance thereof, be entitled to the per share equivalent of the Aggregate Option Price.

  • In no event shall alternative action (i) of Article VIII of the Plan be taken with respect to any National Bank Option during the first thirty-six (36) months after commencement of operations of such national banking association.

  • In no event shall "cashless" exercises of any National Bank Option be permitted, nor shall alternative action (ii) of Article VIII of the Plan be taken with respect to any National Bank Option, while the Office of the Comptroller of the Currency prohibits "cashless" exercises of stock options.

  • Notwithstanding anything contained in this Agreement to the contrary, First Community and the Minority Bank each acknowledge and agree that any holder of a Minority Bank Option may, at any time prior to the Closing Date, exercise such option in accordance with its terms and conditions.

  • During the first thirty-six (36) months after commencement of operations of such national banking association, there shall be no acceleration in exercisability of such National Bank Option in the event of a Change in Control.

  • From and after the Effective Date of the Reorganization, (i) each Bank Option assumed by the Company hereunder may be exercised solely for Company Stock, (ii) the number of shares of Company Stock subject to such Bank Option shall be equal to the number of shares of Bank Stock subject to such Bank Option immediately prior to the Effective Date, and (iii) the per share exercise price under each such Bank Option shall be the per share price of the Bank Stock as of the Effective Date.

  • BHC shall assume each such Bank Option in accordance with the terms of the plan or agreement by which it is evidenced, subject to the foregoing.

  • Exhibit 4.2 sets forth the name of each holder of a Bank Option, the number of shares of Bank Stock covered by each such holder's option, the date of grant of each such holder's option, the exercise price per share, the vesting schedule for each such holder's option, and the expiration date of each such holder's option.

  • Lender will hold all Tenant Direction Letters in escrow; provided, however, upon the occurrence of a Cash Management Trigger, unless the Clearing Bank Option shall have been exercised and implemented, Lender shall have the right to deliver a Tenant Direction Letter to each tenant at the Property.


More Definitions of Bank Option

Bank Option shall have the meaning provided in Section 3.1(d) of this Agreement.
Sample 1
Bank Option means an option to purchase shares of Bank Stock granted pursuant to the First Community Bank 1998 Stock Incentive Plan and First Community Bank 2004 Stock Incentive Plan and outstanding as of the date hereof, as set forth in Bank Disclosure Schedule 4.03.
Sample 1

Related to Bank Option

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Stock Option Plan means any stock option plan now or hereafter adopted by the Company or by the Corporation, including the Corporate Incentive Award Plan.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Option means a stock option granted pursuant to the Plan.

  • Director Option means an Option granted pursuant to Section 6.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • SAR means a stock appreciation right granted under the Plan.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • Stock Option Plans means any stock option plan now or hereafter adopted by the Partnership or the General Partner.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Employee Option means an Option granted pursuant to Section 5.

  • Stock Options means the collective reference to "Incentive Stock Options" and "Other Stock Options".

  • Stock Option Agreement means the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to the Optionee’s Option.

  • Parent Stock Option means any option to purchase Parent Common Stock.

  • Notice of Stock Option Grant means the document so entitled to which this Agreement is attached.

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Nonqualified Option means any Option that is not an Incentive Stock Option.

  • Incentive Option means an option which satisfies the requirements of Code Section 422.

  • Company Stock Option means each option to purchase shares of Company Common Stock outstanding under the Company Stock Plans.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Company Stock Option Plan means the Company's 1999 Stock Option Plan.

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Share Option Plan means any equity incentive plan of the General Partner, the General Partner Entity, the Partnership and/or any Affiliate of the Partnership.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.