Nominated Bank definition

Nominated Bank means the bank(s) at which the Nominated Bank Account is held;

Nominated Bank means the bank with which the credit is available or any bank in the case of a credit available with any bank.

Nominated Bank means the bank, that the letter of credit is payable through, with which credit is available. If Manager becomes more than sixty (60) days delinquent in payment of its Utility Expenses or its electric and water bills as provided for in Section 6.3(c), Owner shall have the right to present the letter of credit to either the Nominated Bank or the Issuing Bank, as provided, and draw down funds in the amount of any outstanding electric and water charges owed by Manager.

Examples of Nominated Bank in a sentence

• Approved Financial Institutions will act upon any instructions received from the Clearing House in relation to the Nominated Bank Accounts without any further reference to, or authority from, a Clearing Member.

• Pursuant to the Clearing Membership Agreement, each Clearing Member must at all times have in place a duly executed Third Party Authority Form in favour of each Approved Financial Institution used by it and in respect of each of its Nominated Bank Accounts.

• An increase in cash positions through ECS will result in a direct debit from the relevant Nominated Bank Account of the Clearing Member.

• A reduction in cash positions will result in a payment from a Clearing House Account to one of the Clearing Member’s Nominated Bank Accounts.

• Payments will be executed as an intra-APS-bank, between accounts, book transfer from the relevant Nominated Bank Account to a Clearing House Account at the same Approved Financial Institution.

• Intra-day calls will be executed via a direct debit from the Clearing Member’s Nominated Bank Account at an Approved Financial Institution.

• It is the responsibility of each Clearing Member to have sufficient funds in its Nominated Bank Accounts to enable all cash transfers required under the Rules to be settled.

• Intra-day Original Margin calls will be executed via a direct debit from the Clearing Member’s Nominated Bank Account at an Approved Financial Institution.

• Pursuant to Clearing Membership and arrangements between the Clearing House and Approved Financial Institutions, the Clearing House is given various powers, including to take any action as it in its discretion determines in the Clearing Member’s or the Clearing House’s name in connection with a Clearing Member’s Nominated Bank Accounts.

• Each Clearing Member will be required to have in place at all times a standard debit mandate, allowing the Clearing House to call funds from its Nominated Bank Accounts, established in the relevant Approved Financial Institution’s standard form (" Third Party Authority Form").

More Definitions of Nominated Bank

Nominated Bank means the bank which shall provide the Bank Guarantee, which shall be a Clearing Bank; Permitted Use means use within Class B1 of the 1987 Order

Nominated Bank means a bank, or specific branch of a bank, authorised by us to receive cash payment on our behalf in respect of the sale of air transportation on our services.

Nominated Bank means the financial institution nominated by Three Peaks;

Nominated Bank means [●];

Nominated Bank has the meaning given in paragraph 2(A) of Part A of Schedule 2;