Banking Entity Clause Samples
The 'Banking Entity' clause defines which parties in an agreement are considered banking institutions for the purposes of the contract. It typically specifies criteria such as regulatory status, licensing, or the types of financial services provided to determine if an entity qualifies as a bank under the agreement. This clause ensures clarity about which parties are subject to banking-specific obligations or rights, helping to avoid ambiguity and ensuring that regulatory and contractual requirements are properly allocated.
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Banking Entity. Any insured depository institution; (ii) any company that controls an insured depository institution; (iii) any company that is treated as a bank holding company for purposes of section 8 of the International Banking Act of 1978; and (iv) any affiliate or subsidiary of the foregoing. Banking Entity does not include: (1) a covered fund that is not itself a banking entity under clause (i), (ii), or (iii) of this definition or (2) a portfolio company held under the authority contained in section 4(k)(4)(H) or (I) of the BHC Act or any portfolio concern (as defined under 13 C.F.R. 107.50) that is controlled by a small business investment company (as defined in section 103(3) of the Small Business Investment Act of 1958), so long as the portfolio company or portfolio concern is not itself a banking entity under clause (i), (ii), or (iii) of this definition. Terms used in this definition and not otherwise defined herein have the meanings ascribed to such terms under the ▇▇▇▇▇▇▇ Rule.
Banking Entity. If any Lender so assigns all or a part of its rights hereunder, any reference in this Agreement to such assigning Lender shall thereafter refer to such Lender and to the respective assignee to the extent of their respective interests and the respective assignee shall have, to the extent of such assignment (unless otherwise provided therein), the same rights, benefits and obligations as it would if it were such assigning Lender.
Banking Entity. An entity that (i) is defined as a “banking entity” under the ▇▇▇▇▇▇▇ Rule regulations (Section __.2(c)), (ii) provides written certification thereof to the Issuer and the Trustee, and (iii) identifies the Class or Classes of Notes held by such entity and the outstanding principal amount thereof.
Banking Entity. The Collateral Agent shall have no obligation to appoint or monitor any Partnership Representative, Partner, Partnership Interest or Tax Matters Partner, or otherwise perform the duties (including the maintenance of capital accounts) of any such Person.
Banking Entity. The Issuer (or UBS on its behalf) shall give the Trustee prompt written notice of the occurrence of any of the events set forth in clauses (a), (b) and (c) in the definition of Liquidation Agent.