Bank Savings Participant definition

Bank Savings Participant means Aegon Bank. Bank Savings Participation means, on any CBC Payment Date, in respect of each Bank Savings Mortgage Receivable an amount equal to the Initial Bank Savings Participation in respect of such Bank Savings Mortgage Receivable increased with each Bank Savings Participation Increase up to (and including) the Calculation Period immediately preceding such CBC Payment Date, but not exceeding the Outstanding Principal Amount of such Bank Savings Mortgage Receivable.
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Bank Savings Participant means Achmea Bank N.V., or its successor or successors. "Bank Savings Participation" means, on any CBC Payment Date, in respect of each Bank Savings Mortgage Receivable an amount equal to the Initial Bank Savings Participation in respect of such Bank Savings Mortgage Receivable increased with each Bank Savings Participation Increase up to (and including) the Calculation Period immediately preceding such CBC Payment Date, but not exceeding the Outstanding Principal Amount of such Bank Savings Mortgage Receivable.
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Examples of Bank Savings Participant in a sentence

  • In addition, in circumstances where the set-off by operation of law does not apply, there is a considerable risk that the Borrower will, or in cases where the Bank Savings Participant is also the originator, the Borrower will be entitled to set off amounts due by the Bank Savings Participant under the Bank Savings Deposit, with the relevant Bank Savings Mortgage Receivable.

  • To mitigate the risk of set-off or defenses with respect to Bank Savings Mortgage Loans, the Security Trustee and the Bank Savings Participant have entered into the Bank Savings Participation Agreement.

  • If the Bank Savings Participant is no longer able to meet its obligations in respect of the relevant Bank Savings Account, for example as a result of bankruptcy, this could result in the balance standing to the credit of the relevant Bank Savings Account either not, or only partly, being available for application in reduction of the Mortgage Receivable.

  • The amounts payable by the CBC under or in connection with this Agreement to the Bank Savings Participant shall be limited to the Bank Savings Participation Redemption Available Amount or, as the case may be, the Bank Savings Participation Enforcement Available Amount received or collected, whether or not by means of enforcement of the Security Trustee Receivables Pledge Agreement, under the relevant Bank Savings Mortgage Receivables by the CBC or, as the case may be, the Security Trustee.

  • Each Bank Savings Mortgage Loan has the benefit of the balances standing to the credit of the relevant Bank Savings Account, which is held with the Bank Savings Participant.

  • If the CBC decides not to institute legal proceedings or not to contest a defence, it shall, upon the request of the Bank Savings Participant, assign to the Bank Savings Participant its rights vis-à-vis the relevant Borrower relating to the (part of the) relevant Bank Savings Mortgage Receivable which is subject to a Bank Savings Participation in respect of which a defence is invoked.

  • By signing this Agreement each of the CBC and the Bank Savings Participant confirms that notification of this Agreement and the right of pledge of the Bank Savings Participation Rights have been made in accordance with Article 3:236(2) of the Dutch Civil Code.

  • The amount of the Bank Savings Participation is equal to the amounts of Bank Savings Deposit received by the CBC plus the accrued yield on such amount (see section Participation Agreements below), provided that the Bank Savings Participant will have paid all amounts equal to the amounts due under the Bank Savings Participation Agreement to the CBC.

  • The Bank Savings Mortgage Loans have the benefit of the amounts standing to the credit of the Bank Savings Accounts held with the Bank Savings Participant (being the same legal entity as the Transferor).

  • Furthermore, the Bank Savings Participant shall in so far as possible not pay any amount due with respect to the Bank Savings Mortgage Receivables to the Borrowers, but to the CBC, by way of set-off.


More Definitions of Bank Savings Participant

Bank Savings Participant means Achmea Bank N.V., or its successor or successors.
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Related to Bank Savings Participant

  • CDS Participant means a participant in CDS that holds security entitlements in Units on behalf of beneficial owners of those Units;

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Key participant means a sole proprietor, a partner in partnership, or a person with executive managerial control in a corporation. A person with executive managerial control includes persons such as a chief executive officer, chief operating officer and chief financial officer. This definition does not include non-executive managers such as farm, field, or shift managers.

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Non-U.S. Participant means any Participant that if it were a Lender would qualify as a Non-U.S. Lender.

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • Designated Participant means such employees or officers of the Company or a related entity of the Company as the Board may designate from time to time as eligible to participate in the Plan;

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • U.S. Participant means a Participant who is a citizen of the United States or a resident of the United States, as defined in section 7701(a)(30)(A) and section 7701(b)(1) of the Code and any other Participant who is subject to tax under the Code with respect to compensatory awards granted pursuant to the Plan;

  • Employee Participant means an Employee who holds an outstanding Award under the terms of the Plan.

  • Covered Participant means a Participant who is a “covered employee” as defined in Section 162(m)(3) of the Code, and the regulations promulgated thereunder, and any individual the Committee determines should be treated as such a covered employee.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • Eligible employer means an employer that:

  • Program participant means an individual certified by the secretary as a program participant under Iowa Code section 9E.3.

  • Participant has the meaning specified in Section 10.06(d).

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • Current Participant means a person who participated in the Plan during the Class Period and had an Active Account on May 11, 2018.

  • L/C Participant shall have the meaning provided in Section 3.3(a).

  • Qualified Participant means an individual who is a participant of Tier 2 and who meets 1 of the following requirements:

  • Participating Employer means any trade or business (whether or not incorporated) which adopts this Plan with the consent of the Company identified in the Adoption Agreement.

  • Disabled Participant with respect to a loan if it has no right to exercise any voting or other control rights with respect to such loan (other than the right to approve amendments to the material economic terms of such loan).

  • Non-Highly Compensated Participant means any Participant who is neither a Highly Compensated Employee nor a Family Member.

  • Administrative employee means an employee who normally supervises persons engaged in office administration, construction, security or maintenance work who are represented by another trade union. This definition includes employees who share a community of interest with “supervisors”.