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GIC Provider definition

GIC Provider or “GDA Provider” means Royal Bank, in its capacity as GIC provider under the Guaranteed Investment Contract together with any successor GIC provider appointed from time to time and, upon shall if applicable and unless the context requires otherwise, the Stand-by GIC Provider;
GIC Provider means National Bank of Canada, in its capacity as GIC provider under the Guaranteed Investment Contract together with any successor GIC provider appointed from time to time;

Examples of GIC Provider in a sentence

  • In particular, but without limitation, the Servicer has been appointed to service Loans in the Portfolio, the Cash Manager has been appointed to calculate and monitor compliance with the Asset Coverage Test and the Amortisation Test and to provide cash management services to the LLP, the Account Bank has been appointed to provide banking services and the GIC Provider has been appointed to receive and hold moneys on behalf of the LLP and to provide an agreed rate of interest thereon.

  • The parties to the Transaction Documents who receive and hold moneys pursuant to the terms of such documents (such as the Account Bank and the GIC Provider) are required to satisfy certain criteria in order that they can continue to receive and hold moneys.These criteria include requirements imposed under the FSMA and requirements in relation to the short-term, unguaranteed and unsecured ratings ascribed to such party by Fitch and Moody's.

  • If the CBC has the obligation to pay interest accruing on the balances standing to the credit of any of the GIC Accounts to the GIC Provider instead of receiving interest thereon, this will reduce the income of the CBC and its possibility to generate further income on the assets held in the form of cash in the GIC Accounts.

  • Any negative interest will be payable by the CBC to the GIC Provider.

  • Ultimately, such negative interest rate and/or an enduring obligation of the CBC to make such payments in respect thereof to the GIC Provider could result in the CBC having insufficient funds to pay any amounts due under the Guarantee to Covered Bondholders.


More Definitions of GIC Provider

GIC Provider means Barclays Bank PLC (registered number 01026167) whose registered office is at 54 Lombard Street, London EC3P 3AH, United Kingdom in its capacity as provider of the guaranteed investment contract pursuant to the Guaranteed Investment Contract;
GIC Provider means KBC Investments Hong Kong Limited as GIC provider pursuant to the Investment Agreement, and any successor in title thereto.
GIC Provider means HSBC Bank Canada, in its capacity as GIC provider under the Guaranteed Investment Contract together with any successor GIC provider appointed from time to time;
GIC Provider means any of AIG Matched Funding Corp., XL Asset Funding Company I LLC or Natixis Funding Corp., as provider of a guaranteed investment contract.
GIC Provider means Barclays.
GIC Provider means MBIA Inc., as provider of a guaranteed investment contract.
GIC Provider means XL Asset Funding Company I LLC, as provider of a guaranteed investment contract.