Institutional Lender. Institutional Lender" means a state or federally chartered savings bank, savings and loan association, credit union, commercial bank or trust company, or foreign banking institution authorized to do business in New York (whether acting individually or in a fiduciary capacity); an insurance company organized and existing under the laws of the United States or any state thereof or a foreign insurance company authorized to do business in New York; a publicly held real estate investment trust; a brokerage or investment banking organization (acting as principal or agent); a religious, educational or eleemosynary institution; an employees’ welfare, benefit, pension or retirement fund; any governmental agency or entity insured by a governmental agency or any combination of Institutional Lenders; provided that each of the above entities shall qualify as an Institutional Lender only if it shall: (i) be subject to the jurisdiction of the courts of the State of New York in any action; and (ii) have assets of not less than One Hundred Million Dollars ($100,000,000.00) adjusted for inflation.
Appears in 3 contracts
Sources: Land Disposition Agreement, Land Disposition Agreement, Land Disposition Agreement