Successor Bank definition

Successor Bank means the successor account bank determined in accordance with the Account Agreement.

Successor Bank has the meaning set forth in Section 10.3.

Successor Bank has the meaning assigned to that term in Section 5.18(b).

Examples of Successor Bank in a sentence

• Such succession and assumption shall be effected by means of one or more agreements supplemental to this Agreement among the Terminating Bank, the Successor Bank, the Company and the Agent.

• In case of a termination as a result of the Account Bank's short-term or long-term ratings falling below the Account Bank Required Rating or the Account Bank failing to obtain or maintain an Account Bank Required Guarantee, the outgoing Account Bank shall reimburse the Issuer for the costs (including legal costs and administration costs) or pay any costs incurred for the purpose of appointing a Successor Bank up to an amount of GBP 15,000 (the "Account Bank Replacement Cost").

• On and as of the effective date of each such supplemental agreement, each Successor Bank party thereto shall be and become a Bank for all purposes of this Agreement and to the same extent as any other Bank hereunder and shall be bound by and entitled to the benefits of this Agreement in the same manner as any other Bank.

• The Issuer shall, together with the Security Trustee, open an account, on conditions as close as possible to those previously received with the Successor Bank, which has at least the Account Bank Required Ratings or has an Account Bank Required Guarantee.

• Within a period of one month upon receipt of such resignation notice or under the prerequisites of Clause 13 (Accounts) of the Trust Agreement, the Account Bank shall be replaced by a Successor Bank as provided for in Clause 13 (Accounts) of the Trust Agreement.

More Definitions of Successor Bank

Successor Bank shall have the meaning set forth in Section 5.1.

Successor Bank has the meaning set forth in Section 12.9(c).

Successor Bank is defined in Section 2.9 of this Agreement.

Successor Bank means HSBC Bank or HSBC Republic Bank; “trustee” includes—

Successor Bank has the meaning set forth in Section 3.10.2.

Successor Bank shall have the meaning given to such term in SECTION 11.12(c).

Successor Bank has the meaning assigned to that term in Section 3.15(b).