Examples of Depo Bank in a sentence
In the event no successor is agreed upon at the end of the three (3) months’ period, the Depo Bank shall be entitled to petition a court of competent jurisdiction to appoint a successor custodian and shall be indemnified by the Issuer for any documented, reasonable costs and expenses relating thereto.
The Depo Bank will not grant to any third party any lien, hypothecation, encumbrance, claim or right against the Collateral or the Issuance Account.
The Secured Party agrees promptly to notify the Depo Bank in writing of the full satisfaction of the Secured Obligations.
Upon receipt of any interest or dividends in cash, or any other asset that constitutes proceeds with respect to Collateral, the Depo Bank will credit such proceeds to the Account no later than the next Business Day.
All Bonds delivered to the Depo Bank for, by or on behalf of the Issuer will be promptly credited to the Issuance Account by the Depo Bank.