Examples of Eligible Bank in a sentence
Lender may elect to change any financial institution in which the Lock Box Account shall be maintained if such institution is no longer an Eligible Bank, upon not less than five (5) Business Days' notice to the Borrower.
On or before the date on which Borrower delivers the Defeasance Collateral, Borrower or Successor Borrower (as applicable) shall open at any Eligible Bank the defeasance collateral account (the “Defeasance Collateral Account”) which shall at all times be an Eligible Account.
The Servicer shall establish the Payahead Account with the Indenture Trustee or another Eligible Bank in the name of the Indenture Trustee on behalf of the Obligors and the Noteholders as their interests may appear pursuant to Section 9.09 of the Trust Agreement.
All issued and outstanding shares of the iNet Stock have been duly authorized and validly issued and are fully paid and non-assessable.
The Payahead Account shall be a segregated interest bearing trust account established with the Trustee or an Eligible Bank.