Bank Undertaking definition

Bank Undertaking means any independent undertaking of the L/C Issuer within the meaning of, and complying with the requirements of, 12 C.F.R. §7.1016 as to which the issuer’s obligation to honor depends upon the presentation of specified documents and not upon non-documentary conditions or resolution of any questions of fact or law, issued hereunder pursuant to Section 2.04. Bank Undertakings may be issued in Dollars or an Alternative Currency as permitted by this Agreement.
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Bank Undertaking means a bank undertaking in the form approved from time to time by the IMO.
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Bank Undertaking means an unconditional and irrevocable undertaking issued by a Bank (first approved of by the Minister for Mines) in favour of the State to pay
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Examples of Bank Undertaking in a sentence

  • My/Our liability under this Deed shall continue to apply to the Bank Undertaking as so modified, amended, renewed or extended from time to time.

  • Effect of death, insolvency: This Deed shall be binding as a continuing security on me/us and shall not be discharged or affected by the death, bankruptcy, insolvency or liquidation of me/us or the Beneficiary of the Bank Undertaking (if more than one, any of them).

  • No security received: I/We hereby warrant to the Bank that I/we have not taken or received and undertake not to take or receive the benefit of any security from the Beneficiary of the Bank Undertaking or any other person liable for the obligation and liabilities of the Beneficiary of the Bank Undertaking.

  • Please state the full and complete postal address of the Bank Undertaking the Guarantee.

  • A1.3 A Market Participant must provide the completed Bank Undertaking and if required an Acceptable Credit Criteria Form either in person or by courier to the IMO.

  • The Escrow Sum Bank Undertaking is for a period of 24 months from the Completion Date (“ Expiry Date”).

  • The net worth of bidder company for last two year should be positive Bidder should be ready to supply tags PAN India tolocations specified by Bank Undertaking Bidder should be ready to comply with future NPCI/ARAI / NHAI requirements without any additional cost to Bank for entire contract period of 5years.

  • No proof in competition with the Bank: If any sums become payable by me/us under this Deed, I/we shall not, until all sums whatsoever payable by the Beneficiary of the Bank Undertaking have been finally paid in full, in the event of the bankruptcy, liquidation or insolvency of the Beneficiary of the Bank Undertaking prove in competition with the Bank but will give the Bank the benefit of such proof and all monies to be received in respect of it.

  • The Bank Undertaking (The Bank of Nova Scotia Belize Operations) Vesting Act, No. 17 of 2003, provides a complete answer to the contention that there has been material change entitling the guarantor to release, and to the suggestion that the plaintiffs are no more.

  • However, a Blank format of Bank Undertaking can be downloaded from the Downloads on https://dotpension.gov.in.


More Definitions of Bank Undertaking

Bank Undertaking means an unconditional and irrevocable undertaking issued by a Bank (first approved of by the Minister for Mines) in favour of the State to pay on demand to the State any amounts from time to time demanded by the Minister for Mines up to the specified limit of the undertaking and in a form approved by the Minister for Mines but substantially in the form contained in Schedule 2;
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Bank Undertaking means an independent undertaking (within the meaning of, and complying with the requirements of, 12 C.F.R§§7.1016 or 7.1017) of an issuer thereof as to which such issuer’s obligation to honor depends upon the presentation of specified documents and not upon nondocumentary conditions or any question or fact or law.
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Related to Bank Undertaking

  • L/C Undertaking has the meaning set forth in Section 2.12(a).

  • group undertaking means the Company or another undertaking in the group;

  • public undertaking means any undertaking over which the public sector bodies may exercise directly or indirectly a dominant influence by virtue of their ownership of it, their financial participation therein, or the rules which govern it; for the purpose of this definition, a dominant influence on the part of the public sector bodies shall be presumed in any of the following cases in which those bodies, directly or indirectly:

  • railway undertaking means any public or private undertaking licensed according to this Directive, the principal business of which is to provide services for the transport of goods and/or passengers by rail with a requirement that the undertaking ensure traction; this also includes undertakings which provide traction only;

  • parent undertaking means a parent undertaking as defined in point (15)(a) of Article 4(1) of Regulation (EU) No 575/2013;

  • financial undertaking means any of the following entities:

  • insurance undertaking means insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (1);

  • Disclosure Undertaking means the Issuer’s master undertaking to provide ongoing disclosure relating to certain obligations contained in the SEC Rule in connection with the general obligation notes of the Issuer issued after February 27, 2019, as implemented by Ordinance Number 50-933 of the Issuer.

  • Demerged Undertaking means the Premium Brands Business of the Demerged Company and includes related assets, liabilities, rights and powers, on a going concern basis, representing an undertaking in compliance with Sec. 2(19AA) of the Income Tax Act, as on the Appointed Date, which shall be transferred and vested with the Resulting Company upon Demerger by the Demerged Company in terms of this Scheme. Without prejudice and limitation to the generality of the above, the Demerged Undertaking means and includes,:

  • reinsurance undertaking means reinsurance undertaking as defined in point (4) of Article 13 of Directive 2009/138/EC;

  • Letter of Undertaking means the letter of undertaking from, amongst others, the Issuer and its Managing Directors to the Initial Purchaser, Investment Manager and the Trustee.

  • Undertaking Letter The letter in substantially the form set forth in Exhibit C of the Trust Agreement.

  • Undertaking means any natural or legal person, whether profit-making or not, or any official body whether having its own legal personality or not;

  • subsidiary undertaking means an undertaking controlled by a parent undertaking, including any subsidiary undertaking of an ultimate parent undertaking;

  • Confidentiality Undertaking means a confidentiality undertaking substantially in a recommended form of the LMA or in any other form agreed between the Borrower and the Agent.

  • related undertaking means any undertaking in which any person has a

  • Continuing Disclosure Undertaking means the Continuing Disclosure Undertaking of the Issuer, in substantially the form attached hereto as Exhibit 1, dated the Closing Date, for the purpose of providing continuing disclosure information under Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as may be amended from time to time.

  • collective investment undertaking or ‘CIU’ means a UCITS as defined in Article 1(2) of Directive 2009/65/EC of the European Parliament and of the Council (2) or an alternative investment fund (AIF) as defined in point (a) of Article 4(1) of Directive 2011/61/EU of the European Parliament and of the Council (3);‌

  • electricity undertaking means any person engaged in the generation,transmission, distribution or supply of electricity including any holder of a licence or authorisation or a person who has been granted a permit under Section 37 of the Principal Act and any person transferring electricity to or from Ireland across an interconnector or who has made an application for use of an interconnector which has not been refused;

  • group of undertakings means a controlling undertaking and its controlled undertakings;

  • Standard Securitization Undertakings means all representations, warranties, covenants, indemnities, performance Guarantees and servicing obligations entered into by the Parent or any Subsidiary (other than a Receivables Subsidiary), which are customary in connection with any financing of accounts receivable.

  • Affidavit and Undertaking means the affidavit and undertaking provided by the Bidder substantially in form and manner as annexed in Annexure I hereto;

  • Performance Undertaking means that certain Performance Undertaking, dated as of the Closing Date, by Performance Provider in favor of Seller, substantially in the form of Exhibit XI, as the same may be amended, restated, supplemented or otherwise modified from time to time.

  • Approved Manager’s Undertaking means, in relation to each Ship, a letter of undertaking executed by the Approved Manager in favour of the Security Trustee in the Agreed Form agreeing certain matters in relation to the Approved Manager serving as the manager of that Ship and subordinating the rights of the Approved Manager against such Ship and the relevant Borrower to the rights of the Security Trustee under the Finance Documents;

  • ancillary services undertaking means an undertaking the principal activity of which consists in owning or managing property, managing data-processing services, or any other similar activity which is ancillary to the principal activity of one or more credit institutions;

  • Financial guarantee means a performance bond, maintenance bond, surety bond, irrevocable letter of credit, or similar guarantees submitted to the [administering authority] by the responsible party to assure that requirements of the ordinance are carried out in compliance with the storm water management plan.