Excess Bank definition

Excess Bank shall have the meaning assigned to that term in Section 6.6(b).
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Examples of Excess Bank in a sentence

  • Upon the effective date of any assignment under this Section 6.6(b) (and as a condition thereto), the Borrower shall cause the Non-Excess Bank to, assume, in the case of Commitments, and pay, in the case of Loans to the Excess Bank its portion of the Excess Amounts so being assigned (including interest, Facility Fees, compensation and additional amounts under this Section 6, in each case accrued to the effective date of such assignment).

  • In the case of a lender that was not a Bank prior to the assignment, such lender shall become a “Bank” for all purposes of this Agreement having a Commitment in the amount of the Commitment assumed by it, and such Commitment of the Excess Bank being assigned shall be terminated upon such effective date.

  • You cannot exclude Coastal Community Bank from your Priority List, and at least one Excess Bank must remain eligible to receive your funds.

  • The Bank List may include one or more Program Banks that constitute Excess Banks; we may deposit your funds at an Excess Bank without limit and without regard to Deposit Limit if funds sufficient to meet the Program Insurance Eligibility Limit have been placed at one or more Priority Banks.

  • If all of your funds are withdrawn from an Excess Bank, the next time your funds are available for deposit into an Excess Bank, your funds may be deposited into a different Excess Bank.

  • You understand and agree that deposit amounts in excess of the Deposit Limit at a Priority Bank and deposit amounts at an Excess Bank will not be insured by the FDIC.

  • The Deposit Accounts (including principal and accrued interest) are insured by the FDIC, an independent agency of the U.S. Government, up to the Maximum FDIC Insurance Amount, which is currently $250,000, for all deposits held in the same insurable capacity at any one Program Bank (and an Excess Bank, as applicable).

  • If the Excess Bank is not a Program Bank on the Priority List, the excess funds deposited to the Excess Bank may be eligible for insurance coverage depending on the amount of excess funds deposited with the Excess Bank together with any other funds you have deposited with the Excess Bank in the same insurable capacity.

  • An Excess Bank may be a Program Bank on the Priority List that has received funds up to the Applicable Deposit Limit, or a Program Bank that acts solely as an Excess Bank.

  • In the event a Program Bank (or an Excess Bank, as applicable) fails, the Deposit Accounts at that Program Bank (or Excess Bank, as applicable) are insured, together with all other deposits you maintain, directly or indirectly at that Program Bank (or Excess Bank) in the same insurable capacity, up to the Maximum FDIC Insurance Amount, for principal and interest accrued to the day the Program Bank (or Excess Bank) is closed.

Related to Excess Bank

  • L/C Bank means the Original L/C Bank and any other Lender which has been appointed as an L/C Bank in accordance with Clause 5.11 (Appointment and Change of L/C Bank) and which has not resigned in accordance with paragraph (c) of Clause 5.11 (Appointment and Change of L/C Bank).

  • qualified U.S. Bank means a qualified U.S. bank as defined in Rule 17f-5 under the Investment Company Act of 1940;

  • Wells Fargo Bank Wells Fargo Bank, N.A., or its successor in intere▇▇.

  • Wachovia means Wachovia Bank, National Association, a national banking association, and its successors.

  • Bank One means Bank One, NA, a national banking association having its principal office in Chicago, Illinois, in its individual capacity, and its successors.