Payment Account Bank definition

Payment Account Bank means any depositary institution at which a Payment Account is maintained.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Payment Account Bank means a duly-licensed bank designated by the Bank (using the form attached to the Registry and Paying Agency Agreement as Schedule 3), where the relevant PDTC Payment Account will be opened, maintained, and managed by the Paying Agent for and on behalf of the Bank, into which the Bank shall deposit, in good cleared funds, the amount of the relevant interest and principal payments due each Bondholder on each relevant Payment Date.

Payment Account Bank means the bank(s) at which the Payment Account(s) is/are held.

Examples of Payment Account Bank in a sentence

If you do not notify us when you close a Bill Payment Account or you do not identify a new Bill Payment Account, Bank will not be responsible or obligated for scheduled payments not made.
If Bank does not complete a Bill Payment on time or in the correct amount (provided you have given Bank the correct necessary information, selected a timely Payment Date, scheduled or transmitted payment instructions at least five Business Days before the Payment Date, and had sufficient available funds in your Bill Payment Account), Bank will pay any late fee as long as your Bill Pay Account is in good standing with the merchant or other Payee.
Within two (2) business days of any request by us, you will provide, or cause the applicable financial institutions to provide, us with records and/or other information regarding the Business Payment Account, Bank Accounts and any other deposit accounts owned or controlled by you.
The Issuer shall designate a bank as its Payment Account Bank, subject to the concurrence of the Paying Agent who shall have the right to impose such reasonable requirements on the Payment Account Bank as shall be necessary to efficiently operationalize the Payment Account.
You acknowledge and agree that, in making the Payment Account available to you, including giving you access to Credentials, as defined below, you do not hold an account at the Payment Account Bank who maintains the Payment Account and that you are not a customer of such Payment Account Bank.
As soon as practicable, the Paying Agent shall open with the Payment Account Bank, one Payment Account for the CPs. The Payment Account shall be operated solely and exclusively by the Paying Agent in accordance with this Agreement and payment of principal on the relevant Maturity Date shall be made from such Payment Account.
The Lender and the Borrower shall enter into a Blocked Account Agreement with the Payment Account Bank at which such Payment Account shall be maintained.
The Lender shall have received the Blocked Account Agreement from each of the Reserve Account Bank and the Payment Account Bank, executed and delivered by a duly authorized officer of each, and shall of received the Amendment to the Intercreditor and Blocked Account Agreement.
Servicer has established and will maintain a deposit account at the Existing Parent Payment Account Bank, solely in the name of Servicer, designated as the Existing Parent Payment Account, as to which the Collateral Agent has control for the benefit of the Secured Parties within the meaning of Section 9-104(a)(2) of the UCC pursuant to the Existing Parent Payment Account Control Agreement.
If you do not notify us when you close a ▇▇▇▇ Payment Account or you do not identify a new ▇▇▇▇ Payment Account, Bank will not be responsible or obligated for scheduled payments not made.

More Definitions of Payment Account Bank

Payment Account Bank. The Sakura Bank, Limited Branch: Tokyo Main Office (Tokyo eigyo-bu) Address: 1-1-▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇-▇▇, ▇▇▇▇▇ ▇▇▇-▇▇▇▇, ▇▇▇▇▇ A/c No: 1008000 A. Borrower (a) A copy, certified as then true and complete and up-to-date as of the Drawdown Date by a duly authorized officer of the Borrower, of the Articles of Incorporation of the Borrower. (b) A copy, certified as a true copy by a duly authorized officer of the Borrower, of resolutions of the Board of Directors of the Borrower effective as of the Drawdown Date evidencing approval of this Agreement and authorizing its appropriate officers or attorney (as applicable) to execute and deliver this Agreement and to give all notices and take all other action required by the Borrower under this Agreement. (c) Specimen signatures, authenticated by a duly authorized officer of the Borrower, of the persons authorized in the resolutions of the Board of Directors referred to in paragraph (b) above together with the executed Power of Attorney empowering that person to execute and deliver this Agreement and to give all notices and take all other action required by the Borrower under this Agreement (if applicable).

Payment Account Bank means Column N.A., Member FDIC, Evolve and any other bank who holds Payment Accounts, and “your Payment Account Bank” shall mean the Payment Account Bank that holds the Payment Account used to facilitate payments on your behalf.

Payment Account Bank. The Sakura Bank, Ltd. Branch: Tokyo Main Office (Toukyo Eigyoubu) Address: A/c No: 1008▇▇▇ (▇▇rrent account) Documents and evidence required as conditions precedent A. Borrower (a) A copy, certified as then true and complete and up-to-date as of the Closing Date by a duly authorised office of the Borrower, of the Articles of Incorporation of the Borrower. (b) A copy, certified as a true copy by a duly authorised officer of the Borrower, of resolutions of the Board of Directors of the Borrower effective as of the Closing Date evidencing approval of this Agreement and authorising its appropriate officers or attorney (as applicable) to execute and deliver this Agreement and to give all notices and take all other action required by the Borrower under this Agreement. (c) Specimen signatures, authenticated by a duly authorised officer of the Borrower, of the Persons authorised in the resolutions of the Board of Directors referred to in paragraph (b) above together with the executed Power of Attorney empowering that Person to execute and deliver this Agreement and to give all notices and take all other action required by the Borrower under this Agreement (if applicable). (d) An opinion of legal advisers to the Borrower on Japanese law, dated the Drawdown Closing Date of the first Advance, in a form satisfactory to and previously approved by the Agent. (e) An opinion of Nishimura & Sanada, special legal advisers in Japan to the Agent and the Banks, dated the Drawdown Closing Date of the first Advance, in a form satisfactory to and previously approved by the Agent. (f) A certified copy of the commercial registry and a certificate of seal impression (each as of the Closing Date) of a representative director of the Borrower executing this Agreement or the Power of Attorney referred to above (as the case may be). B. The Guarantor (a) The Guaranty, executed by the Guarantor. (b) Copies of the resolutions of the board of directors of the Guarantor and other necessary corporate action authorizing the Guarantor to enter into the Guaranty and the transactions contemplated thereby, certified as of the Closing Date by the Secretary or Assistant Secretary of the Guarantor; and

Payment Account Bank means Deutsche Bank Trust Company Americas, or such other bank as determined by the Lender.

Payment Account Bank shall have the meaning set forth in Section 2.04.

Payment Account Bank means a duly-licensed bank designated by the Issuer (in such form prescribed by the Paying Agent, attached hereto as Schedule 3 hereof), where the PDTC Payment Account will be opened, maintained, and managed by the Paying Agent for and on behalf of the Issuer, into which the Issuer shall deposit, in good cleared funds, the amount of the principal payments due each ▇▇ ▇▇▇▇▇▇ on the Maturity Date/s.