Deposit Insurance Payments. (a) In case of the liquidation of, or other closing or winding up of the affairs of, an insured depository institution, the FDIC is generally required by law to pay each insured deposit “as soon as possible,” either by cash payment or by transferring the deposit to another insured depository institution. It is possible, however, that an insurance payment could be delayed. Neither we nor any other person or entity will be obligated to advance funds to you with respect to an insurance payment or to make any payment to you in satisfaction of a loss you might incur as a result of a delay in an insurance payment.
Appears in 6 contracts
Samples: Custody Agreement (New Mountain Guardian III BDC, L.L.C.), Ics Deposit Placement Agreement, Ics Deposit Placement Agreement
