Examples of Authorized Foreign Bank in a sentence
As an Authorized Foreign Bank, Maple Bank was regulated with respect to its business in Canada (the “Toronto Branch”) by the Office of the Superintendent of Financial Institutions (“OSFI”).2.
Upon receipt of a copy of that written approval, the Depository shall follow the written direction of the Authorized Foreign Bank in respect of the asset.
The Depository shall at all times, upon reasonable notice, permit the Superintendent and the Authorized Foreign Bank access, for purposes of examination, to all assets deposited with the Depository under this Agreement and to the records of the Depository and any agent of the Depository in relation thereto.
The Depository and, subject to the prior written approval of the Superintendent, the Authorized Foreign Bank, may terminate this Agreement on at least thirty (30) days notice in writing to the Superintendent and the other party specifying in the notice the date of termination.
IN WITNESS WHEREOF the Authorized Foreign Bank, the Depository and the Superintendent have executed this Agreement as of the date and year first above written.
The Depository is entitled to reasonable compensation for its services and expenses under this Agreement as may be agreed upon by the Authorized Foreign Bank and Depository, and if no such agreement is reached, either the Authorized Foreign Bank or the Depository may on ten days notice in writing apply to a court of competent jurisdiction to fix the compensation that the Authorized Foreign Bank shall pay the Depository.
The Authorized Foreign Bank appoints, as depository, the Depository to hold for the purposes of the Act the assets that the Authorized Foreign Bank may deposit with the Depository pursuant this Agreement.
The Authorized Foreign Bank shall identify to the Depository, in writing, those Authorized Foreign Bank representatives authorized to direct the Depository in respect of a matter under this Agreement.
The Depository or its affiliate shall pay the Authorized Foreign Bank interest on monies held on deposit under this Agreement at a rate that is not less than the rate paid by the Depository on the same or similar accounts.
State Street Bank and Trust Company, Toronto Branch SSBT is an Authorized Foreign Bank (“AFB”) under the Bank Act, Canada.