Schedule III Banks definition

Schedule III Banks means those authorized foreign banks under Schedule III of the Bank Act.
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Schedule III Banks means foreign bank subsidiaries authorized under Schedule III of the Bank Act to offer banking services to Canadian clients.
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Schedule III Banks means foreign bank branches of foreign institutions that have been authorized under the Bank Act to do banking business in Canada. These branches have certain restrictions.
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Examples of Schedule III Banks in a sentence

  • Notwithstanding anything to the contrary contained in this Agreement, participating interests in, and rights and obligations with respect to, Canadian Advances and Canadian Commitments may be granted or assigned only to Schedule I Banks, Schedule II Banks, Schedule III Banks or a Person established under the laws of Canada or any province or territory thereof that is authorized to carry on business in Canada pursuant to Part XII of the Bank Act (Canada).

  • At least one but not more than two Canadian Banks which are Schedule II Banks or Schedule III Banks under the Bank Act (Canada) to be designated by the Canadian Agent and the Canadian Borrowers (with the consent of each such Canadian Bank).

  • I Banks, Schedule II Banks, Schedule III Banks or a Person established under the laws of Canada or any province or territory thereof that is authorized to carry on business in Canada pursuant to Part XII of the Bank Act (Canada).