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

• In case of a termination as a result of the short-term or long-term ratings of the Account Bank fall below the Account Bank Required Rating, 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 20,000 (the "Replacement Cost").

• In case of a termination as a result of the Account Bank failing to maintain an Account Bank Required Guarantee or if its short-term or long-term ratings fall below the Account Bank Required Rating, 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").

• In case of a termination as a result of the Account Bank failing to maintain an Account Bank Required Guarantee or if its short-term or long-term ratings fall below the Account Bank Required Rating, 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 Costs").

• In case of a termination as a result of the Account Bank failing to maintain an Account Bank Required Guarantee or if its short- term or long-term ratings fall below the Account Bank Required Rating, 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").

• In case of a termination as a result of the short-term or long-term ratings of the Account Bank fall below the Account Bank Required Rating, 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 "Replacement Cost").

More Definitions of Successor Bank

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

Successor Bank is defined in Section 2.9 of this Agreement.

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

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 means any bank replacing the Account Bank in accordance with the provisions of the Transaction Documents;