Pledging bank must own the credit card receivables Cards 30 days or more delinquent or non-accruing are not eligible for pledging Pledging bank agrees to mark its records conspicuously to indicate that such cards are pledged to the Federal Reserve Bank of Cleveland.
Bank Product Provider means Xxxxx Fargo or any of its Affiliates.
Bank Product Obligations means all obligations, liabilities, contingent reimbursement obligations, fees, and expenses owing by a Company to Agent or any Lender (or an affiliate of a Lender) pursuant to or evidenced by the Bank Product Agreements.
New Lender as defined in Section 2.1(c).
Bank Product means any one or more of the following financial products or accommodations extended to any Loan Party or any of its Subsidiaries by a Bank Product Provider: (a) credit cards (including commercial cards (including so-called “purchase cards”, “procurement cards” or “p-cards”)), (b) payment card processing services, (c) debit cards, (d) stored value cards, (e) Cash Management Services, or (f) transactions under Hedge Agreements.
Collecting bank means a bank handling the item for collection except the payor bank.
Existing bank means a bank or national banking association that is a party to a consolidation agreement and is engaged in the business of banking before the consolidation or merger provided for in the consolidation agreement.