Operating Bank definition
Operating Bank means the Person acting, at the time of determination, as the Operating Bank under the Security Trust Agreement. The initial Operating Bank is Deutsche Bank Trust Company Americas.
Operating Bank means U.S. Bank National Association or any other Eligible Institution at which the Accounts are held; provided, that (a) upon the resignation or removal and the replacement of the Trustee pursuant to the terms of the Indenture, the successor trustee appointed thereunder shall be the Operating Bank, and (b) if at any time the Operating Bank ceases to be an Eligible Institution, a successor shall be appointed by the Servicer on behalf of the Trustee and all Accounts shall thereafter be transferred to and be maintained at such successor in the name of the Trustee and such successor shall thereafter be the “Operating Bank”.
Operating Bank means the Person acting, at the time of determination, as the Operating Bank under the Security Agreement. The initial Operating Bank is DBTCA.
Examples of Operating Bank in a sentence
Each of the Security Trustee and the Operating Bank agrees that it shall have no right against the Secured Parties for any fee as compensation for its services in such capacity.
The Issuer shall defend the claim and the Operating Bank shall cooperate in the defense.
The Operating Bank agrees to perform its duties hereunder in accordance with the requirements of, and subject to the limitations of the duties of, a Securities Intermediary under the UCC.
The Operating Bank shall notify the Issuer promptly of any claim asserted against the Operating Bank for which it may seek indemnity; provided, however, that failure to provide such notice shall not invalidate any right to indemnity hereunder.
The Operating Bank may have separate counsel and the Issuer shall pay reasonable fees and expenses of such counsel.
More Definitions of Operating Bank
Operating Bank means the Person acting, at the time of determination, as the Operating Bank under this Indenture and the Security Trust Agreement. The initial Operating Bank is Deutsche Bank Trust Company Americas.
Operating Bank means Iccrea Banca acting in its capacity as operating bank pursuant to the Cash, Allocation, Management and Payments Agreement or any such other depository institution as may be appointed in accordance with such Cash, Allocation, Management and Payments Agreement;
Operating Bank means U.S. Bank National Association, a national banking association, or any other Eligible Institution at which the Accounts are held; provided, that (a) in the event the Trustee is the Operating Bank, upon the resignation or removal and the replacement of the Trustee pursuant to the terms of the Indenture, the successor trustee appointed thereunder shall be the Operating Bank, and (b) if at any time the Operating Bank ceases to be an Eligible Institution, a successor shall be appointed by the Issuer (or the Servicer) on behalf of the Trustee and, in the case of both clauses (a) and (b), all Accounts shall thereafter be transferred to and be maintained at such successor in the name of the Issuer and such successor shall thereafter be the “Operating Bank”.
Operating Bank means U.S. Bank National Association or any other Eligible Institution consented to by the Collection Agent at which the Accounts are held; provided, that if at any time the Operating Bank ceases to be an Eligible Institution, a successor shall be appointed by Servicer on behalf of the Collection Agent and all Accounts shall thereafter be transferred to and be maintained at such successor in the name of the Collection Agent and such successor shall thereafter be the "Operating Bank".
Operating Bank means Citibank N.A., London Branch or such other bank, satisfying the requirements of Clause 6.5, as the Issuer may choose with the approval of the Trustee (such approval not to be unreasonably withheld) and with which the Transaction Account is for the time being maintained (provided that, for the avoidance of doubt, the approval of the Trustee shall not be required in respect of any transfer of the Transaction Account to HSBC Bank plc or Barclays Bank plc, as the case may be, in accordance with Clause 6.5.3 of this Agreement);
Operating Bank means a Qualified Institution at which the Trustee Collection Account and Trustee Acquisition Account and other Trust Accounts are maintained and any other Qualified Institution at which such Trust Accounts are maintained from time to time;
Operating Bank means Citibank N.A., London Branch or such other bank, satisfying the requirements of Clause 6.5, as the Issuer may choose with the approval of the Trustee (such approval not to be unreasonably withheld) and with which the Transaction Account is for the time being maintained (provided that, for the avoidance of doubt, the approval of the Trustee shall not be required in respect of any transfer of the Transaction Account to HSBC Bank plc or Barclays Bank plc or, as the case may be, Xxxxx Fargo Bank, N.A., in accordance with Clause 6.5.3 of this Agreement);