Concentration Bank definition

Concentration Bank means a bank or other credit institution which has a current agreement with the Clearing House to participate in the Clearing House Protected Payments System (as described in the Regulations) as a concentration bank.

Concentration Bank means BTCo or any commercial bank satisfactory to Agent at which any Loan Party maintains a Concentration Account.

Concentration Bank means JPMorgan Chase Bank, N.A., in its capacity as the agent of the Trustee (or of a co-trustee or separate trustee), or any successor Concentration Bank appointed pursuant to Section 4.07(g) at which the Proceeds Allocation Account is maintained. If the Concentration Bank is an agent of a co-trustee or separate trustee appointed pursuant to Section 7.10, references to the “Trustee” in connection with the Concentration Bank shall refer to such co-trustee or separate trustee, as the case may be.

Examples of Concentration Bank in a sentence

• The Trustee shall immediately notify Navistar Financial as to the receipt and contents of any such notice of cancellation and shall promptly notify Navistar Financial, any co-trustee, the Concentration Bank, each Proceeds Account Bank, each insurance company that has received notice of the relevant Notice of Acceleration in accordance with Section 5.01(a), each Purchaser and each other Secured Party as to the cancellation of any Notice of Acceleration.

• The Trustee is hereby directed to instruct the Concentration Bank to follow the instructions of Navistar Financial given pursuant to this subsection (a).

• If there are insufficient Collected Funds in the Concentration Account to cover the amount of any returned check or other adjustment or correction to be debited thereto, the Borrower shall be responsible for repaying the Concentration Bank the amount of such debit immediately upon demand.

• Upon the effectiveness of such resignation, PNC Bank, National Association shall close the Concentration Account and transfer all funds therein and any future instruments deposited therein to the new Concentration Bank, unless otherwise instructed by Borrower and Agent (or solely by Agent after the giving of Notice).

• If no successor Concentration Bank shall be appointed and shall have accepted such appointment within 30 days after the Concentration Bank gives the aforesaid notice of resignation, the Trustee may appoint a successor Concentration Bank with the consent of Navistar Financial or apply to any court of competent jurisdiction to appoint a successor Concentration Bank.

More Definitions of Concentration Bank

Concentration Bank means the Blocked Account Bank selected by Agent at which the Concentration Account is to be opened and maintained pursuant to a Blocked Agreement. If there is only one Blocked Account Bank, it shall be the Concentration Bank.

Concentration Bank means the "Concentration Bank" as defined in the Concentration Bank Agreement.

Concentration Bank means, at any time, any of the banks holding one or more Concentration Accounts (as of the date hereof being those banks specified in Schedule III hereof).

Concentration Bank means DBTCA or any commercial bank satisfactory to Agent at which any Loan Party maintains a Concentration Account.

Concentration Bank means an Agent or any Affiliate of such Agent, or any commercial bank satisfactory to Administrative Agent at which any Loan Party maintains a Concentration Account.

Concentration Bank shall have the meaning set forth in the Mortgage Loan Agreement.

Concentration Bank means First Chicago NBD Corporation, in its capacity as bank at which the Concentration Account is maintained, or any successor thereto appointed pursuant to Section 7.