Offshore Account Bank definition

Offshore Account Bank has the meaning given to such term in the Accounts Agreement.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Offshore Account Bank means JPMorgan Chase Bank, N.A. in its capacity as offshore account bank in relation to the Offshore Proceeds Account or any other person that replaces it in such capacity;

Offshore Account Bank means the Offshore Account Bank specified above and includes any person who may be appointed by the Borrower with the approval of the Majority Lenders (not to be unreasonably withheld or delayed) as an ‘Offshore Account Bank’ in addition to or, as the case may be, in substitution for the Offshore Account Bank as at the date of this Agreement and which has entered into an Accession Deed.

Examples of Offshore Account Bank in a sentence

• The Offshore Account Bank accepts such designation and appointment in accordance with and limited to the terms and conditions of this Agreement.

• The Offshore Account Bank shall at all times be an Acceptable Bank.

• Promptly following receipt of any payment in the Offshore Collection Account, the Borrower shall be entitled to direct the Offshore Account Bank to pay up to 10% of such amount (an “Offshore Commission Amount”) to an account (an “Offshore Commission Account”) notified by it to the Agent and the Offshore Account Bank for onward transmission to Global Oil Corporation.

• The Offshore Account Bank may accept deposits from, lend money to and generally engage in any kind of lending or other business with any party to any Finance Document.

• The Offshore Account Bank shall not be obliged to make available to the Borrower, or any other person any sum which it is expecting to receive for the account of the Borrower until it has been able to establish that it has received that sum.

More Definitions of Offshore Account Bank

Offshore Account Bank means, as the context so requires, Bank of America N.A. or any other bank appointed as an “Offshore Account Bank” in accordance with clause 20.3 (Appointment of Account Bank).

Offshore Account Bank means China Minsheng Banking Corp., Ltd., Hong Kong Branch.

Offshore Account Bank means each of:

Offshore Account Bank means Citibank, N.A., Hong Kong Branch, including any successor or replacement thereto.

Offshore Account Bank means Citibank, N.A., a national banking association, existing and organized under the laws of the United States of America,

Offshore Account Bank means UniCredit Bank AG (formerly known as Bayerische Hypo-und Vereinsbank AG), London Branch.

Offshore Account Bank means, as the context so requires, either HSBC Bank Plc, Bank of America N.A. or any other bank appointed as an “Offshore Account Bank” in accordance with Clause 20.3 (Appointment of Account Bank).