Depositary Account Bank definition

Depositary Account Bank has the meaning ascribed to that term in subsection 2.4(b)(ii).
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Examples of Depositary Account Bank in a sentence

  • Agent agrees that it will not deliver a notice of sole control to a Designated Depositary Account Bank as contemplated by the pertinent Account Control Agreement until such time as an Event of Default has occurred and is continuing.

  • At the opening of business on each Business Day, the Domestic Depositary Account Bank shall calculate the amount of collected funds on deposit in the Domestic Depositary Account (herein, the "DOMESTIC COLLECTED BALANCE" for such day).

  • If an Event of Default shall have occurred and be continuing, and notwithstanding the foregoing SECTIONS 7.2 and 7.3, at the request of Lender, each Depositary Account Bank shall transfer the Domestic Depositary Account Collected Balance and the Canadian Depositary Account Collected Balance, as the case may be, to Lender for application to the Liabilities in such order as Lender, in its sole discretion, shall elect.

  • Each Borrower shall maintain a lockbox with (i) in the case of Xxxxx, the Domestic Depositary Account Bank and (ii) in the case of TRO Canada, the Canadian Depositary Account Bank (herein called, with respect to each Borrower, such Borrower's "LOCKBOX" and, collectively for all Borrowers, the "LOCKBOXES").

  • Borrowers shall not, and Borrowers shall not permit or cause any such financial institution to, commingle any Cash Instrument so received except in the applicable Depositary Account, and Borrowers shall hold separate and apart from all other Property, all such Cash Instruments in express trust for the benefit of Lender until delivery thereof is made to the Domestic Depositary Account Bank or Canadian Depositary Account Bank as the case may be.

  • Notwithstanding any provision of this SECTION 6.1, Lender shall have no obligation to reconcile or verify, at any time or for any purpose, any balance in any Restricted Account of any Borrower or any other account maintained by the Domestic Depositary Account Bank or the Canadian Depositary Bank, as the case may be, as agent for Lender.

  • Thereafter on such Business Day, the Canadian Depositary Account Bank shall transfer in Dollars from the Canadian Depositary Account to the Domestic Operating Account (for application as set forth in SECTION 7.2(b)) an amount equal to the excess, if any, of the Canadian Collected Balance over $10,000 (Canadian) on such Business Day.

  • Anything in this Agreement to the contrary notwithstanding, under no circumstances shall receipt by any Depositary Account Bank of funds of any Borrower into a Depositary Account or the holding of funds therein constitute repayment of Loans, or entitle any Borrower to interest thereon.

  • Thereafter on such Business Day, the Domestic Depositary Account Bank shall promptly transfer from the Domestic Depositary Account to Lender (for application as set forth in SECTION 7.3) an amount equal to the Domestic Collected Balance on such Business Day in excess of $5,000, PROVIDED, that if the amount of the Domestic Collected Balance is not an integral multiple of $5,000, the amount transferred to Lender shall be reduced to an amount equal to the nearest lower integral multiple of $5,000.

  • At the opening of business on the last Business Day of each week, the Canadian Depositary Account Bank shall calculate the amount of collected funds on deposit in the Canadian Depositary Account (herein, the "CANADIAN COLLECTED BALANCE" for such day).

Related to Depositary Account Bank

  • Deposit Account Bank means a financial institution at which a Deposit Account is maintained.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Designated Account Bank has the meaning specified therefor in Schedule D-1.

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Blocked Account Banks means the banks with whom deposit accounts are maintained in which material amounts (as reasonably determined by the Administrative Agent) of funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • Controlled Account Bank has the meaning specified therefor in Section 7(k).

  • Account Bank means any of them.

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Account Banks means the credit institutions administering the Accounts and “Account Bank” means any of them.

  • Account Bank Agreement means the account bank agreement dated 15 August 2018 between the Issuer, the Trustee and The Bank of New York Mellon, London branch as the same may be amended, restated, amended and restated, novated, varied, supplemented, substituted, assigned, extended or otherwise replaced or redesignated from time to time;

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Central Depository means Centrálny depozitár cenných papierov SR, a.s., with its registered seat at ul. 29. augusta 1/A, Bratislava 814 80, Slovak Republic, registered in the Commercial Register maintained by the District Court Bratislava I, Section: Sa, Insert No.: 493/B;

  • Clearing Account has the meaning set forth in Section 2.7.1 hereof.

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • 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”.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Blocked Account Agreement means with respect to an account established by a Loan Party, an agreement, substantially in the form of Exhibit L hereto or otherwise in form and substance reasonably satisfactory to the Collateral Agent, establishing Control (as defined in the Security Agreement) of such account by the Collateral Agent and whereby the bank maintaining such account agrees, during any Cash Dominion Trigger Period, to comply only with the instructions originated by the Collateral Agent without the further consent of any Loan Party.

  • Issuer Accounts means, collectively, the Excess Funding Account, the Collection Account and any Supplemental Issuer Account, including any Sub-Accounts thereof.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Collection Accounts As defined in Section 3.10(a).

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.