Examples of Target Bank in a sentence
The Target Bank Balance will serve as working capital for Hotel operations and any interest earned on the Target Bank Balance shall belong to the Hotel.
Owner acknowledges that the Target Bank Balance will be administered by Manager on a consolidated basis across the portfolio of hotels owned by Owner and listed on Exhibit “D” attached hereto.
It is acknowledged by Manager and Owner that the Target Bank Balance will fluctuate during each Fiscal Month and that Manager shall have no obligation to fund any deficiency in the Target Bank Balance.
In addition, the Bank also has a five-year option to acquire additional 20% of the existing issued shares of Target Bank exercisable from the second anniversary of the date that the transaction is completed (the “Call Option”).
The deposits of Target Bank are insured by the Federal Deposit Insurance Corporation to the extent provided by law.