Impaired Bank definition

Impaired Bank means a Bank (a) that has failed to fund its Revolving Credit Percentage or Term Loan Percentage, as applicable, of any Advance or to purchase participations in a Swing Line Advance or any Reimbursement Obligations, (b) that has otherwise failed to pay to the Agent or any other Bank any other amount required to be paid by it under the terms of this Agreement or any other Loan Document, unless such Bank is disputing such obligation to pay any such amount in good faith, (c) which the Agent, the Issuing Bank or Swing Line Bank believes, in good faith, has defaulted in fulfilling its obligations under any other syndicated credit facilities or as a participant in any other credit facility, (d) that has been, or is controlled by any Person which has been, determined to be insolvent or that has become subject to a bankruptcy or other similar proceeding, or (e) any material assets or management of which has been taken over by any governmental authority.
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Impaired Bank means a Bank (a) that has failed to fund its Percentage of any Advance or to purchase participations in a Swing Line Advance or any Reimbursement Obligations, (b) that has otherwise failed to pay to the Agent or any other Bank any other amount required to be paid by it under the terms of this Agreement or any other Loan Document, unless such Bank is disputing such obligation to pay any such amount in good faith, (c) which the Agent, the Issuing Bank or Swing Line Bank believes, in good faith, has defaulted in fulfilling its obligations under any other syndicated credit facilities or as a participant in any other credit facility unless such Bank is disputing such obligations in good faith, (d) that has been, or is controlled by any Person which has been, determined to be insolvent or that has become subject to a bankruptcy or other similar proceeding, or
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Impaired Bank means a Defaulting Bank and any other Bank (a) which the Agent, the Issuing Bank or Swing Line Bank believes, in good faith, has defaulted (and continues to be in default) in fulfilling its obligations under any other syndicated credit facilities or as a participant in any other credit facility and such Bank is not in good faith disputing that such a failure has occurred, or (b) which, if carrying an investment grade rating of at least BBB- from S&P or Baa3 from Xxxxx’x at the time it became a party to this Agreement, no longer carries a rating of at least BBB- from S&P or Baa3 from Xxxxx’x, provided, however, in all cases that an Impaired Bank shall no longer be deemed an Impaired Bank when (i) the Impaired Bank shall have cured the conditions which shall have caused it to be an Impaired Bank hereunder and (ii) the Agent has agreed that such Bank shall no longer be deemed an Impaired Bank hereunder.
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Examples of Impaired Bank in a sentence

  • Akashi, (2009), "Impaired Bank Health and Default Risk," Pacific-Basin Finance Journal, 17(2), pp.145-162.Fukuda, S., and S.

  • During 2011, the net loan assets held by IBRC fell by €8.1 billion to €18.7 billion.4 Purchase of Impaired Bank Assets 3.7 The National Asset Management Agency (NAMA) was established to acquire loans that had been advanced for the purchase and development of land and other related advances from five credit institutions that participated in NAMA5.

  • Impaired Bank Health a nd Default Risk * Shin-ichi Fukuda (University of Tokyo) Munehisa Kasuya (Bank of J apan)Kentaro Akashi (University of Tokyo) AbstractEmpirical studies in cor porate finance have lo ng been focused on the role of banks in reducing the costs of financial distress.

  • Note that although initially we considered perturbation with tachyonic zero, first and second modes, the non-linear RG flow equations force the coefficients of various other boundary fields with higher harmonics to evolve.

  • The following table analyses relevant investments and debtors as at the date of account Investments Impaired Bank Loan The impaired bank deposit was made with the following Icelandic bank which went into liquidation in October 2008: Interest continues to accrue on the carrying amounts at the original interest rates.


More Definitions of Impaired Bank

Impaired Bank means a Defaulting Bank and any other Bank (a) which the Agent, the Issuing Bank or Swing Line Bank believes, in good faith,
Sample 1
Impaired Bank means a Bank (a) that has failed to fund its Percentage of any Advance or to purchase participations in a Swing Line Advance or any Reimbursement Obligations, (b) that has otherwise failed to pay to the Agent or any other Bank any other amount required to be paid by it under the terms of this Agreement or any other Loan Document, unless such Bank is disputing such obligation to pay any such amount in good faith, (c) which the Agent, the Issuing Bank or Swing Line Bank believes, in good faith, has defaulted in fulfilling its obligations under any other syndicated credit facilities or as a participant in any other credit facility unless such Bank is disputing such obligations in good faith, (d) that has been, or is controlled by any Person which has been, determined to be insolvent or that has become subject to a bankruptcy or other similar proceeding, (e) any material assets or management of which has been taken over by any governmental authority or (f) who has, or whose parent corporation has, a credit rating of less than BBB-/Baa3 (or equivalent) from Standard & Poor’s or Xxxxx’x. As used in this definition “parent corporation” means, with respect to a Bank, any Person controlling such Bank, including, without limitation, the bank holding company (as defined in Regulation Y of the Board of Governors of the Federal Reserve System) if any, of such Bank.”
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Related to Impaired Bank

  • Impaired Agent means the Agent at any time when:

  • Required Banks means at any time Banks having at least 66 2/3% of the aggregate amount of the Commitments or, if the Commitments are no longer in effect, Banks holding at least 66 2/3% of the aggregate outstanding principal amount of the sum of the (i) Syndicated Loans and (ii) Money Market Loans.

  • Impaired insurer means (A) a member insurer which, after

  • Majority Banks means at any time Banks holding more than 50% of the Commitments, or if the Commitments have been terminated, Banks holding more than 50% of the then aggregate unpaid principal amount of the Advances.

  • Affected Bank has the meaning specified in Section 3.07.

  • Impaired property means tangible property, other than "your product" or "your work", that cannot be used or is less useful because:

  • Swap Counterparty means Lender or an Affiliate of Lender, in its capacity as counterparty under any Swap Contract.

  • enforcement order means an administrative requirement issued by the department under the authority of RCW 90.48.120 that directs a public body to complete a specified course of action within an explicit period to achieve compliance with the provisions of chapter 90.48 RCW.

  • Obligated bank means the issuer of a cashier's check or teller's check or the acceptor of a certified check.

  • Eligible Swap Counterparty means an entity, which may be an affiliate of a remarketing agent, engaged in the business of entering into derivative instrument contracts that satisfies the Rating Agency Condition.

  • Securities Intermediary The meaning specified in Section 8-102(a)(14) of the UCC.

  • Approved Bank shall have the meaning set forth in the definition of “Cash Equivalents.”

  • Bank Product Provider means Xxxxx Fargo or any of its Affiliates.

  • Majority Lenders means a Lender or Lenders whose Commitments aggregate more than sixty six and two thirds per cent (66 2/3%) of the aggregate of all the Commitments.

  • Requisite Lenders means Lenders having (a) more than 66 2/3% of the Commitments of all Lenders, or (b) if the Commitments have been terminated, more than 66 2/3% of the aggregate outstanding amount of the Loans.

  • insolvency administrator means a person authorised to administer the reorganisation or liquidation, including one authorised on an interim basis, and includes a debtor in possession if permitted by the applicable insolvency law;

  • Specified Derivatives Provider means any Lender, or any Affiliate of a Lender that is a party to a Derivatives Contract at the time the Derivatives Contract is entered into.

  • Hedge Provider means Xxxxx Fargo or any of its Affiliates.

  • Control Party means (i) the Guarantor, so long as no Guarantor Default has occurred and is continuing, or (ii) the holders of the Notes for so long as a Guarantor Default has occurred and is continuing.

  • Prepetition Agent means Goldman Sachs Bank USA in its capacity as administrative agent and collateral agent under the Prepetition Credit Agreement.

  • Clearing Bank means the Bank or any other banking institution with whom a Payment Account has been established pursuant to a Blocked Account Agreement.

  • Couponholder means the holder of a Coupon;

  • Note Insurer means Ambac Assurance Corporation, a Wisconsin-domiciled stock insurance corporation, or any successor thereto, as issuer of the Policy.

  • Liquidity Bank means the Person or Persons who provide liquidity support to any Conduit Lender pursuant to a Liquidity Agreement in connection with the issuance by such Conduit Lender of Commercial Paper Notes.

  • Entitlement Order shall have the meaning specified in Section 8-102 of the UCC.

  • Swap Provider The swap provider under the Swap Agreement either (a) entitled to receive payments from the Supplemental Interest Trust or (b) required to make payments to the Supplemental Interest Trust, in either case pursuant to the terms of the Swap Agreement, and any successor in interest or assign. Initially, the Swap Provider shall be Deutsche Bank AG New York Branch.