ACBB definition
Examples of ACBB in a sentence
As used in this Section 7.03, “cash and cash equivalents” shall mean cash and amounts due from depository institutions, interest-earning deposits, federal funds sold, and securities purchased under resale agreements with an original maturity of three months or less, and “debt service” shall mean its long-term debt due within one year, excluding term repurchase agreements, FHLB and ACBB borrowings, plus interest expense, all determined in accordance with GAAP.
Except for the DNB Subsidiaries, DNB does not possess, directly or indirectly, any equity interest in any corporate entity, except for equity interests held in the investment portfolios of DNB Subsidiaries, equity interests held by DNB Subsidiaries in a fiduciary capacity, and equity interests held in connection with the lending activities of DNB Subsidiaries, including stock in the FHLB and ACBB.
The Borrower must provide ACBB an opinion of counsel, as well as any regulatory approvals that are required, if applicable, regarding the Borrower’s ability to engage in the proposed transaction.