Subsidiary Bank definition

Subsidiary Bank means any Subsidiary which is a Bank.

Subsidiary Bank means any Subsidiary that is organized under the laws of the United States, any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands and either (i) accepts deposits that the depositor has a legal right to withdraw on demand and engages in the business of making commercial loans or (ii) is a trust company.

Subsidiary Bank means any Subsidiary of the Company which is a bank or trust company organized and doing business under any state or federal law.

Examples of Subsidiary Bank in a sentence

• Borrower shall not itself, nor shall it cause, permit or allow any Subsidiary to cause or allow the percentage of Subsidiary Bank Shares owned directly or indirectly by Borrower to diminish as a percentage of the outstanding capital stock of Subsidiary Bank.

• None of the Subsidiary Bank Shares have been issued in violation of any shareholder’s preemptive rights.

• The deposit accounts of Subsidiary Bank are insured by the FDIC to the fullest extent permitted by applicable law.

• The deposits of each Subsidiary Bank of the Borrower are insured by the FDIC and no act has occurred which would adversely affect the status of such Subsidiary Bank as an FDIC insured bank.

• Borrower shall not itself, nor shall it cause, permit or allow any Subsidiary to directly or indirectly create, assume, incur, suffer or permit to exist any pledge, encumbrance, security interest, assignment, lien or charge of any kind or character on the Subsidiary Bank Shares.

More Definitions of Subsidiary Bank

Subsidiary Bank means each Subsidiary which is a bank.

Subsidiary Bank means any commercial bank or trust company organized in the United States under Federal or state law, at least a majority of the shares of the Voting Stock of which shall at the time be owned, directly or indirectly, by the Company or by one or more Subsidiaries or by the Company and one or more Subsidiaries.

Subsidiary Bank means a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959).

Subsidiary Bank means Xxxxxx Savings and Loan Association, F.A., a federally chartered savings and loan association and the principal subsidiary of the Depositor.

Subsidiary Bank means any Person which is an “insured depository institution” within the meaning of 12U.S.C. §1813(c) as amended, and which is “controlled” by the Borrower within the meaning of 12 U.S.C. §1841 (a), as amended.

Subsidiary Bank means any Subsidiary that is a “depository institution” as defined in Section 217.2 of the FRB’s Regulation Q, 12 C.F.R. Part 217.

Subsidiary Bank means, collectively, (i) each bank listed on Schedule 5.13(b) (as such Schedule may be updated from time to time as agreed between the Borrower and the Administrative Agent) and (ii) each Subsidiary of the Borrower that is formed after the date hereof as a bank or a banking corporation under applicable Law.