Affected Bank definition

Affected Bank has the meaning specified in Section 3.07.

Affected Bank has the meaning specified in Section 2.15.

Affected Bank. A “bank” for purposes of Section 881 of the Code or an entity affiliated with such a bank that is neither (x) a United States Person nor (y) entitled to the benefits of an income tax treaty with the United States under which withholding taxes on interest payments made by obligors resident in the United States to such bank are reduced to 0%.

Examples of Affected Bank in a sentence

• There is no evidence that the Affected Bank Customer is entitled to the funds in question.

• Recovery of funds wrongly credited to Affected Bank Customer who is a Biller, of which request is received after seven (7) months from date of Erroneous Payment Instruction/Mistaken Payment Instruction; the recovery of funds shall be processed in accordance with Clause 3.1.3 herein.

• Recovery of funds wrongly credited to Affected Bank Customer who is a Biller, of which request is received between twenty two (22) Business Days and seven (7) months from date of Erroneous Payment Instruction/Mistaken Payment Instruction, the recovery of funds shall be processed in accordance with Clause 3.1.2 herein.

• It acknowledges and agrees that if the Issuer determines that such holder (or its affiliate) is an Affected Bank the Issuer, in its sole discretion, may treat (if necessary or helpful to reduce the likelihood that such ownership may cause withholding under Treasury Regulations Section 1.881-3) such holder as a Non-Permitted Holder and, thus, may cause the transfer of all or of a portion of the applicable Subordinated Notes.

• The Affected Bank Customer has given its consent for us to debit their account.

More Definitions of Affected Bank

Affected Bank means any Bank that has given notice to the Company (which has not been rescinded) of (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence of any circumstances of the nature described in Section 8.2 or 8.3. Affiliate of any Person means (i) any other Person which, directly or indirectly, controls or is controlled by or is under common control with such Person and (ii) any officer or director of such Person.

Affected Bank has the meaning set forth in Section 8.06.

Affected Bank shall have the meaning assigned to that term in Section 6.6.

Affected Bank as defined in Section 2.18(b).

Affected Bank is defined in Section 2.17 hereof.

Affected Bank means any Bank that (i) has made, or notified any Account Party that an event or circumstance has occurred which may give rise to, a demand for compensation under Section 2.06(a) or (b) or Section 2.08 (but only so long as the event or circumstance giving rise to such demand or notice is continuing) or (ii) is a Downgraded Bank.

Affected Bank shall have the meaning ascribed thereto in Section 2.19.